If you’re an avid sports bettor looking to take your online betting experience to the next level, you’ve come to the right place. In this article, you’ll learn everything you need about free bets, including how they work, the different types available, the benefits they offer, and much more!
Best Sportsbook Offers
The vast majority of U.S. sportsbooks provide bonuses to their customers in one way or another. However, the opportunities provided by some sportsbooks, in particular, stand head and shoulders above the rest. Shown below are the best sportsbook offers on the market today!
What Are Free Bets & How Do They Work?
Free bets, also commonly referred to as bonus bets or site credit, are promotional offers provided by sportsbooks that allow users to place a bet without risking their own money. They come in various forms, such as first-bet insurance, deposit match offers, no-deposit bonuses, or loyalty rewards. The free bet’s value, qualifying terms, and withdrawal conditions will vary depending on the platform and the specific promotional deal being offered.
It is important to understand that free bets do not typically return the amount of the wager, only the payout. For example, if you successfully placed a $100 free bet at +200 odds, you would receive $200 in winnings, but you wouldn’t get the initial $100 stake returned.
In most cases, a free bet can be used on any sport or market of your choice, with round robins or boosted odds wagers being a few of the common exceptions. However, there may be specific odds requirements that must be met, so it’s always important to pay close attention to the offer’s Terms & Conditions.
Types of Free Bets
Free bets come in many different forms. They are provided by sportsbooks and online betting platforms through a wide range of different promotional deals. A few of the most common types of free bets and how they are earned are discussed below.
Risk-Free Bets
Risk-free bets, also commonly known as second-chance bets or first-bet insurance, are a very common way to earn free bets in the world of sports betting. They are special promotional offers where you can place a wager, and if your bet loses, the sportsbook will refund your stake up to a certain amount.
Essentially, it allows you to take a shot at a bet without the fear of losing your own money. If your bet wins, you receive the winnings as usual. However, if your bet loses, you will get your stake back as a free bet or bonus funds, which may come with certain wagering requirements.
Bet & Get
Another way to earn free bets is through Bet & Get promotions. You will just need to place a qualifying bet that meets any odds or minimum stake requirements, and you will collect a free bet of a designated value. For example, if a betting site was offering a Bet $1 Get $200 promo, you would collect $200 in free bets or bonus funds as soon as you place a wager of $1 or more.
Deposit Match
Deposit match offers involve the bookmaker matching a percentage of your initial deposit with free bets. For example, if a bookmaker offers a 100% deposit match up to $100, and you deposit $50, they will credit your account with an additional $50 in bonus funds. The percentage matched and the maximum limit of the deposit match can vary across different sportsbooks and promotional offers.
Free Bets With No Deposit
Currently there aren’t any no-deposit free-bet offers to claim at U.S. sportsbooks. But you may occasionally find an opportunity to earn no-deposit free bets. These would allow you to collect bonus bets without making an initial deposit or placing a real-money wager beforehand. No-deposit free bets are also commonly referred to as sign-up bonuses, and they are more commonly offered by online casinos or social sportsbooks.
Loyalty Rewards
Lastly, it is possible for existing users of a sportsbook to receive free bets through their platform’s customer loyalty program. Loyalty rewards are provided to show appreciation to customers and reward them for their consistent play and dedication to the platform. You will typically accumulate points over time, which can then be redeemed for free bets, enhanced odds, or other exclusive perks.
Popular Sportsbooks Offers
FanDuel Sportsbook: No Sweat First Bet
The FanDuel No Sweat First Bet of up to $1000 is one offer you won’t want to miss. New users who sign up with FanDuel Sportsbook and place any wager of up to $1000 will get a 100% refund in the form of bonus bets if their bet happens to be successful. Therefore, you can relax knowing that FanDuel has you covered in case you get off to a slow start.
DraftKings Sportsbook: Bet $5 Get $200
Another great opportunity is the DraftKings Bet $5 Get $200 promo. All first-time users of DraftKings Sportsbook are guaranteed to receive $200 in bonus bets as soon as they register for an account and place any bet of $5 or more. It doesn’t matter if your first bet wins or loses, as you will automatically receive the $200 bonus once your initial wager has settled.
BetMGM Sportsbook: First Bet Offer
BetMGM Sportsbook is providing new customers with a First Bet Offer of up to $1,000, meaning you’ll get a full refund in the form of bonus bets if your first wager on the site doesn’t win. You will just need to sign up for an account, make your first deposit, and place a wager on any game or sporting event of your choice to claim your first bet insurance today.
Caesars Sportsbook: Go Full Caesar
New users of Caesars Sportsbook are also in for a treat, as they’ll have an opportunity to Go Full Caesar and get up to $1,000 paid back in bonus bets if their initial wager on the platform happens to lose. This special deal is provided to all first-time customers, and the full amount is guaranteed to be returned if you do not cash in on your first bet.
BetRivers Sportsbook: Second Chance Bet
BetRivers Sportsbook is providing a Second Chance Bet of up to $500 to all new customers, meaning they will get a 100% refund in the form of bonus bets if their first bet isn’t a winner. This fantastic welcome offer is sure to help you get off to a great start on the platform, and there are no minimum odds requirements associated with this promotional deal.
Benefits of Free Bet Promotions
Free bets are very appealing and provide many different benefits to sports bettors. A few of the biggest advantages of free bet promotions are listed and explained below.
- Builds Your Bankroll: Free bets provide you with additional funds to wager with, allowing you to build your betting bankroll without using your own money. By taking advantage of free bet offers, you can increase the amount of capital you have available for betting, giving you more flexibility and potential for larger winnings.
- Increased Winning Potential: Promotions that offer free bets or bonus funds can increase your chances of winning in the long run. Since you’re using site credit provided by the sportsbook, any winnings from successful bets are pure profit. This increased winning potential can enhance your overall betting experience and result in a higher return on investment.
- Chance To Explore New Markets: Free bets also give you a chance to explore new types of bets or branch out and place bets on different sports and leagues that you’re interested in but not very experienced in as of yet. Free bets open up a world of possibilities, allowing you to expand your betting horizons and discover new opportunities for profit.
- Opportunity To Try New Strategies: Free bets provide an excellent opportunity to test out new betting strategies or systems. Without the fear of losing your own money, you can experiment with different approaches, analyze their effectiveness, and fine-tune your strategies.
- Minimizes Risk: One of the key advantages of free bets is that they minimize the risk associated with placing wagers. Since your own money is not at stake, if your bet loses, you haven’t lost anything from your personal bankroll. This risk mitigation allows you to enjoy the excitement of betting while providing a safety net against potential losses.
How To Choose Your Free Bet Sportsbook
Choosing your preferred sportsbook can be challenging. There is a multitude of different factors to examine and criteria to evaluate. A few of the most important aspects to consider when making your decision are discussed below.
Welcome Offer & Everyday Bonuses
While a welcome offer may be the first thing that attracts you to a new sportsbook or betting platform, it shouldn’t be the only factor you consider. That said, a generous new player bonus or frequent promotional deals to existing users (e.g., odds surges, profit boosts, and parlay insurance) can be very appealing and enhance your overall betting experience.
Market Depth & Types of Bets Offered
Another important factor you’ll want to consider is the sportsbook’s market depth and the types of bets offered. You’ll want to find a betting site that covers all your favorite sports and leagues while also providing other opportunities to explore niche sports or international markets. In addition, many users prefer a sportsbook that covers plenty of different betting markets, offering a solid selection of alternative lines and totals as well as plenty of prop bets.
Mobile App & User Experience
Many sports bettors enjoy placing wagers, tracking bets, and claiming promotional offers by using a mobile app on their smartphone. As a result, you’ll want to find a sportsbook with a user-friendly mobile app that is well-designed and easy to navigate. It’s also important for the mobile app to be reliable to ensure a seamless betting experience and avoid crashing or buffering while you’re placing bets.
Location & Availability
Lastly, the sportsbooks will need to be available in your state or location. Just because sports betting is legal where you live does not mean that your ideal sportsbook is currently licensed and operating in your state. Therefore, do some research and figure out which options are currently available in your state or jurisdiction in order to narrow the field of options.
Frequently Asked Questions (FAQ)
Free bets are special promotional offers provided by sportsbooks that give you a chance to place a wager without risking your own deposited funds.
If your free bet pushes, the outcome will depend on the terms and conditions set by the betting site. However, in most cases, you will receive an additional free bet of the same value.
Yes, you will retain the full amount of any winnings earned on a free bet. However, the amount of the free bet is not included in the payout. For example, a $50 successful free bet at +200 odds would offer $100 in winnings, but the $50 initial stake will not be returned.
