Ahead of Week 5 in the NFL betting season, United States sports bettors have one of the best sportsbooks available at their fingertips with BetMGM.

BetMGM is giving new sports betting customers the chance to get a welcome bonus of up to $1,000. For new customers to BetMGM, sign up for the sportsbook, make your first deposit, and if your first bet is a loser, you will be credited with a free play of up to $1,000.

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In addition, BetMGM is also offering its customers several other perks this weekend. For instance, the company offers one-game parlay insurance for both NFL football and college football on its sports betting app.

RELATED: NFL Week 5 Odds & Betting Lines For All Games

For the NFL, you can make a one-game parlay of up to $25 and if one of your four legs loses, you will be given a free bet. Additionally, the same offer is available for college football bettors up to $50. On top of that, BetMGM also gives its customers a free $10 bet for every Monday Night Football game. Not bad.

NFL Week 5 and College Football Storylines

The NFL betting Week 5 Monday Night Football game sees the Indianapolis Colts travel to take on the Baltimore Ravens. The Ravens are 3-1 this year, while the Colts are just 1-3, so this looks like a bit of a mismatch on paper.

Not surprisingly, the Ravens opened as the favorites for this game. The oddsmakers initially had the hometown team as -6.5 point favorites, and they have since been bet up to -7 points to win this game against the Colts.

RELATED: NFL Week 5 Picks & Best Bets To Make

The Colts picked up QB Carson Wentz from the Eagles in an offseason trade, but so far he hasn’t been able to help the Colts all that much. The team is off to just a 1-3 start and appears to be in a tough spot to make the playoffs based on their current form.

As for the Ravens, the team relies on its star QB Lamar Jackson in order to win games. The former NFL MVP is having an OK season by his high standards, yet the team is still off to a 3-1 start. That shows you how deep this Ravens squad is, because even when their MVP is having an off day, they are still able to win games. It’s no surprise, then, to see the Ravens as sizable favorites for this Monday’s football clash against the Colts.

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The total points on the NFL line for this game has been set at 46.

For college football betting, one of the marquee games on Saturday sees the Oklahoma Sooners against the Texas Longhorns. The Sooners are off to a 5-0 start this season, while the Longhorns are not far behind at 4-1.

With the Sooners appearing to be the slightly better team, they are -3.5 point favorites according to the latest college football lines to win this match up between two old rivals.