Read on to find out all you need to know about these bonuses, including where to find them, what they entail, and some of the sports and markets you can use them on. If you like what you see, you can use our links to click through to a top US sportsbook offering risk-free bets, sign up, and put them to good use.
Risk-Free Bets Explained
Risk-free betting bonuses are like the ultimate insurance policy on your first wager at a new sportsbook. With a risk-free bet, your sports betting site will return the entirety of your first lost wager after the result comes in. Occasionally this might be returned as real money, but the likelihood is that it will be delivered in the form of free bet tokens to be used at the site. So remember that although your wager will be returned, you’ll only be able to spend it on additional bets at your sportsbook of choice.
To be eligible for a risk-free bet bonus, you’ll first need to make a qualifying wager. There’ll be certain conditions on the nature of this wager that we’ll cover later on in further detail, including available payment methods, minimum odds, and so on.
The benefits of risk-free bets are obvious: they give new bettors the safety net of not having to worry about losing money on their first wager. The insurance of a risk-free bet is valuable to any and all sports bettors — perhaps it’s a good opportunity to pick an event with slightly longer odds than you’d usually go for, or maybe it’s simply a chance to ease yourself into a new sportsbook.
Pros and Cons of Risk Free Bets
With so many different bonuses available at US online sportsbooks, risk-free offers may not be your first choice. Here are some of the main pros and cons of this sportsbook promo to help you decide whether risk free bets are for you.
Pros
- Second chance – If your initial bet loses, you’ll get the chance to place another one. Or if your stake is returned as cash, you can choose to withdraw it;
- Less risk – Risk free bets are a form of insurance – there’s less chance of losing your initial stake;
- Try something new – While we’d generally recommend sticking to sports and markets you know well, risk free bets are an opportunity to try something a bit different.
Cons
- Still some risk – Despite the name, risk free bet offers aren’t entirely risk-free. If your refund is paid as a free bet, you haven’t really got your money back, especially if you aren’t able to turn the free bet into a winner;
- No bonus for winning – To get the free bet, your initial bet has to lose. Some bettors prefer to opt for offers that dish out rewards for winning your first bet on the site rather than losing;
- Complicated stipulations – Some risk free bet offers come with long-winded terms and conditions that make it tricky to navigate your way to withdrawing some cash.
Top Risk-Free Bets for US Customers
Interested in placing your first wager at a new sportsbook with no risk? Check out these three offers from some of the leading betting sites in the US.
How to Claim a Risk-Free Bet
If you’ve already heard enough about risk-free bets and want to claim your own, just follow this simple step-by-step guide:
- Browse through our selected list of risk-free sportsbooks
We’ve already taken the liberty of compiling all the best risk-free bet promotions right here on this page. All you need to do is read our expert guides, compare the features of our selected sportsbooks, and pick the site and offer that best suits your sports betting needs.
- Click-through and sign-up
Our links will take you straight to the site’s registration page, where you’ll be invited to enter some personal information to create your new account. It’s a simple process that includes submitting email addresses and phone numbers among other things, but before you can get going, the betting site will need to verify your identity, which can take up to 24 hours.
- Make your qualifying deposit and place your first wager
Once you’ve been verified, you’ll need to head to the cashier page to make your first deposit. Keep in mind conditions around minimum deposits, and make sure you opt-in to the risk-free bet offer if required. Then, place your first wager, and sit back and wait for the result.
- Enjoy your free bets!
If your qualifying bet is a success, well, then, you won’t be receiving any free bets. But if it loses, you’ll be credited with your free bet tokens soon after the qualifying bet is settled. These free bets often come with strict time limits, so keep an eye on the clock as you use them!
Terms and Conditions of Risk-Free Bets
We all love bonuses, but they unfortunately involve the inconvenience that is terms and conditions. It’s important to read these in full before you activate a bonus offer in order to understand what’s required. Let’s take a look at some of the T&Cs you’ll likely need to negotiate with a risk-free bet.
Minimum Odds
Because many sportsbooks don’t love giving easy money away, they’ll impose minimum odds on their bonuses to keep things in check. Minimum odds may apply to both the qualifying deposit and the free bets, and they’re designed to make bettors place wagers that aren’t foregone conclusions.
Wagering Requirements
It’s not that common with risk-free bets, but wagering requirements may apply. This condition draws players into making further bets at the site before they’re able to withdraw any bonus winnings. Wagering requirements are more likely to be a factor with casino-based promotions.
Market Restrictions
You may find that your risk-free bets can only be used on certain sports or events, or that they can only be used on specific types of bets. For example, free bets on single event wagers might be accepted, while parlays aren’t.
Winning Caps
Risk-free bets tend to be fairly generous, particularly when included as part of a welcome bonus. It means that bettors may be drawn into thinking they’ll be able to win a huge amount if they get their selections right, but due to winning caps, this won’t be the case. You’ll still be able to win a decent amount from your risk-free bet bonus, but it will be limited to what the sportsbook allows.
Payment Exclusions
You’ll need to be mindful of the bonus’s accepted payment methods when you make your qualifying deposit. Bank cards are always eligible in this respect, but deposits from newer banking technologies like e-wallets are often excluded from bonuses.
Time Limits
You’ll need to make your qualifying deposit within a specified timeframe. Then, once you’ve done so, you’ll be up against the clock to make use of your free bets. Seven days is roughly par for the course here, so make sure you’re logging into your account regularly while the promotion is still live.
Using Your Risk-Free Bet
The best sportsbooks offer up thousands of different betting markets across a wide range of sports. Here are just a few examples of how you could use your risk-free bets.
Basketball
The NBA is far and away the best basketball league in the world, and you can rest assured that whichever sportsbook you select will offer an impressive range of basketball coverage. But the basketball world exists well beyond the NBA — you’ll also be able to use your free bets on leagues in other countries, as well as NCAA championships and less prestigious competitions right here at home.
Baseball
Who will win this year’s World Series? Which player will hit the most home runs in the season? And who will record the most strikeouts? These are the kinds of outright bets you can place on the MLB — the premier league in baseball. Baseball is popular throughout the world, particularly in the Americas, and you’ll be able to find sportsbook coverage of major leagues and fixtures from across the globe.
Football
Your risk-free bets could also be put to good use on this season’s NFL, and any other football league offered up by your sportsbook. There are many different betting markets available in this sport that focus on both the teams and results as a whole, or on the individual stats of players. For example, you could use a risk-free bet on the Arizona Cardinals to beat the Seattle Seahawks, or on Kyler Murray to throw three touchdowns in the match.
Ice Hockey
The Stanley Cup — the trophy awarded to the seasonal champions of the NHL — is known as the oldest sports trophy in North America. Your risk-free bet could be placed on who gets to take it home at the end of the season, or on smaller events in the ice hockey calendar, including other North American leagues such as the AHL and ECHL.
Risk Free Bets and Free Bets
If you’re new to risk-free offers or haven’t claimed a sportsbook promo before, it may be confusing figuring out the difference between risk free bets offers and straight-up free bets – but don’t fret, this is where we’re here to help.
So, how do free bets work? A free bet is best thought of as a token – it’s set to a specific value and costs nothing to the bettor to place. If the bet wins, you keep the profit but not the stake itself.
With a free bet, you don’t have to part with any of your own cash. The difference with risk free bets is that you have to initially lose your own money in order to benefit from the money back ‘risk-free’ element.
If you opt in to a risk free bet offer and lose your first wager, a free bet is something you could get in return, but you’ll still need to have lost that first bet. Some online sportsbooks offer sign-up bonuses where you get a free bet as soon as you deposit funds to your account, so you don’t have to lose anything to pick up the rewards.
Still, risk free bet offers are a handy form of insurance that give you another go if that first wager doesn’t go to plan.
Other Betting Offers and Promotions
Other Betting Offers and Promotions
Risk-free bets are just one form in which a welcome bonus can take place. At the best US sportsbooks, you’ll receive plenty of other promotions during your time as a member of the site. Here are some of the other forms that bonuses can take.
Bet x Get y
Bet x get y bonuses are simple: make a real money deposit and wager, and you’ll receive something in exchange. A smaller offer might be bet $10 to get $30 in free bets, but these bonuses can climb to much higher amounts in some cases.
Matched Deposits
Your bankroll at a sportsbook will be kept in two separate pots: your real money deposits, and any bonus funds provided by the betting site. Bonus funds are usually supplied by matched deposit offers, where the sportsbook agrees to equal a deposit that you’ve made at a certain percentage and up to a specified limit. For example, you might receive a matched deposit bonus offer of 100% up to $50.
Casino Bonuses
The best sportsbooks in the US will double up as online casinos, meaning members can switch from placing a wager on the tennis to playing their favorite online slot all under one account. These sites therefore also offer bonuses that target the casino side of things, meaning free spins, cashback and bonus credit might all be available.
Parlay Insurance
If you place a parlay bet and just one match goes the wrong way, it can be a frustrating end to the bet. With parlay insurance, you’ll get your money back if just one leg of the parlay is a flop. Some sportsbooks will give you your money back as withdrawable cash, while others will give you a free bet equal to your initial stake.
Free Bets
Free bets are a great way to try your luck on a sports market without spending any of your own money. They come in different values and are often eligible for specific sports games – for example, you could pick up a $5 free bet for the Super Bowl. If you win, you’ll pocket the profit, but your stake won’t be returned.
Free bets shouldn’t be thought of as free money – they can’t be withdrawn until you use them. Additionally, there are often minimum odds you can place the bet at, preventing bettors from making wagers on extremely low odds. Still, there’s usually room for choice so you can still bet on a favorite if that’s your preference.
Referral Bonuses
Referral bonuses give you the chance to claim rewards such as free bets when you refer friends to an online sportsbook. There’ll generally be some terms and conditions involved – for example, you may need to have wagered a certain amount before you can refer someone, and they’ll generally need to place some bets before you can claim your bonus.
Loyalty Programs
Loyalty programs are aimed at regular bettors or those who have been a member of an online sportsbook for a long period of time. With some sportsbooks, you can collect points as you bet and cash these in for prizes such as free bets. Some sites go a little further and offer the chance to win holidays and access to exclusive events. Check out the loyalty/VIP program at your chosen sportsbook to see what’s on offer.
Claim a Risk-Free Bet at One of Our Top Betting Sites
Like the idea of placing your first bet without the risk of losing your stake? Risk-free bets give sports bettors a second chance to make the right call, and if you’re claiming this bonus as part of a welcome offer to a new sportsbook, values can be very generous.
We’ve broken down all of the most important features of these bonuses so that you can make an informed decision about where to play. Simply browse through our recommendations of the best risk-free bonuses and where to find them, click through to the site you like, and make your first risk-free prediction on your favorite sport.
FAQs
A risk free bet is a bet that allows you to claim something back if it loses. In some cases bettors may be able to get their full stake back, while other times it’ll be credited as a free bet. Risk free bet offers are typically offered to new users when they sign up and place their first wager at an online sportsbook.
To place a risk free bet, you’ll first need to opt in to the promotion. This may be done automatically when you sign up and place your first bet, or you may need to opt in manually. You’ll then need to place a bet with your own money, on an eligible market, at the minimum odds or above, as set out in the terms and conditions. If you win, you keep your winnings. If you lose, the ‘risk free’ element will kick in and you’ll get your stake back either as withdrawable cash or as a free bet.
Your risk free bet is placed using your own cash, so you’ll need to deposit funds into your account in order to place the bet.
Yes, if your initial risk free bet is successful, you simply keep the winnings and can withdraw them any time. If your first bet loses and you’re awarded a free bet, you’ll need to check the terms and conditions as to whether any wagering requirements apply.
Pretty much anything. The sportsbook promo will state if there are certain eligible markets you have to place your risk free bet on, but usually you’re free to wager on any online sports match that interests you.
Risk free bet offers are regularly available at many of the top US betting sites, such as Caesars Sportsbook, DraftKings Sportsbook, Unibet, and more. It’s hard to pick just one as the best betting site for risk free bets, as this largely comes down to personal preference. To find the right sportsbook for you, browse our comparison list and compare the different offers available. Once you find one you like, you can click the ‘claim bonus’ button to sign up and get started with a risk free bet offer.
