As the MLB Home Run Derby approaches, sports betting enthusiasts have exciting opportunities to cash in. New users can take advantage of generous bonus offers from leading sportsbooks like Bet365 and BetMGM. Both platforms are rolling out promotions that allow bettors to secure bonus bets for the highly anticipated event.

Bet365 is offering a welcome bonus for new users who sign up with the bonus code WEEK365. By placing a $5 bet on any MLB Home Run Derby market, users can instantly unlock $150 in bonus bets. This offer is available regardless of the outcome of the initial wager. For instance, if a user bets $5 on a player like James Wood to win, they will receive $150 in bonus bets to use on other markets, including WNBA games happening the same night.

Alternatively, users can opt for a $1,000 first bet safety net. This allows bettors to place a larger wager, with the assurance that if their bet loses, they will receive their stake back as a bonus. This option is ideal for those looking to make a significant impact with their first bet.

In contrast, BetMGM is also promoting its own enticing offer. New users can sign up using the bonus code NOLA150 to receive $150 in bonuses with a $10 winning bet in select states, including Michigan, New Jersey, Pennsylvania, and West Virginia. For users in other states, BetMGM provides a $1,500 first bet option, where any losses on that initial wager will be refunded up to $1,500 in bonuses.

The Home Run Derby will feature eight contestants, including top hitters like Cal Raleigh, Oneil Cruz, and Matt Olson. The format will see the top four hitters advance from the first round to the semifinals, with the winners moving on to the finals. Current odds for the contestants include Raleigh at +275, Cruz at +300, and Wood at +450, among others.

To redeem the BetMGM offer, users must sign up, enter the bonus code CUSE150, and place a $10 bet on any Home Run Derby matchup. If the bet wins, they will receive $150 in bonus bets. Additionally, BetMGM is offering boosted odds for specific bets, such as Cal Raleigh hitting the longest home run, which has been boosted to +1600.

Both sportsbooks encourage users to act quickly to take advantage of these promotions before the Home Run Derby begins. With the event set for Monday night at T-Mobile Park in Seattle, bettors are urged to finalize their accounts and place their wagers to maximize their potential returns.