Basketball fans can go big this weekend for March Madness games with BetMGM bonus code NEWSWEEK1500. New customers in select states (CO, MI, NJ, PA and WV) will be eligible for a $150 bonus while players in other locations can start with a $1,500 first bet. This new promo provides players with the chance to raise the bar on any college basketball game.Both options will set up college basketball fans for Saturday's round of 32. New users can start with a $5 bet on any game in CO, MI, NJ, PA and WV. If that bet wins, these players will receive $150 in bonuses. Anyone in a different state will get a $1,500 first bet this weekend.BetMGM Bonus Code NEWSWEEK1500: How to Bet on College BasketballThis weekend is all about college basketball and BetMGM Sportsbook has tons of options for new players. Set up a new account and lock in either offer. Remember, new users in Colorado, Michigan, New Jersey, Pennsylvania and West Virginia will have access to the $150 bonus. Any $5 winning bet will trigger this bonus.However, most new users can start with the more flexible $1,500 first bet. BetMGM Sportsbook will cover any losses on this initial wager with a refund in bonuses. For example, a new player who loses on a $250 first bet will receive $250 back in bonuses.With dozens of options in college basketball this weekend, it's the perfect time to take advantage of this offer. With that said, there are also options in the NBA, NHL, tennis, golf and other sports. Players can get off to a fast start by activating either offer.March Matchups Promo for College BasketballFirst things first, players should start with a sign-up bonus, but don't forget about the March Matchups promos available in the BetMGM Sportsbook app. There are a number of different options available for the March college basketball games.Grab a no sweat token or an odds boost token for Saturday's games. There is even an underdog odds boost token for bettors who want to take a chance on Cinderella. Keep an eye out for the different in-app promos available throughout March and April.How to Sign Up With BetMGM Bonus Code NEWSWEEK1500The only way to grab the $150 bonus or the $1,500 first bet is by signing up with BetMGM Sportsbook. Apply bonus code NEWSWEEK1500 to qualify for either offer. After reaching a sign-up landing page, input basic identifying information to create a new account.Next, make a cash deposit using online banking, PayPal, credit card, debit card, Apple Pay or any other preferred payment method. At this point, players are ready to start with a $5 bet to win $150 in bonuses (CO, MI, NJ, PA and WV) or place a $1,500 first bet on any game. With a full slate of college basketball games coming up on Saturday and Sunday, there has never been a better time to lock up this bonus. Newsweek may earn an affiliate commission if you sign up through the links in this article. See the sportsbook operator's terms and conditions for important details. Sports betting operators have no influence over newsroom coverage.