Sports betting has exploded in the US, and competition among sportsbooks is at an all-time high. One way that sportsbooks try to get you to check out their site is through a bevy of promotional offers.
The most popular new player offer used to be a risk-free bet. However, sportsbooks have gone away from the term “Risk Free Bet” as there is real money risk involved, and if it loses sportsbooks return bonus bets instead of real money. Risk Free Bets referred to now as Second Chance Bets, First Bet Offer, or even No Sweat Bet. Not every risk-free bet is built the same, so we have broken down all you need to know about risk-free bets.
New User First Bet Offers in the US
| 🇺🇸 US Sportsbook | 💰 Bonus Offer | 🎁 Promo Code |
|---|---|---|
| 🥇 Caesars Sportsbook | Bet $1, Double Your Winnings Your Next 10 Bets | ATSBONUSDYW |
| 🥈 BetMGM | Up To $1500 in Bonus Bets Back if your First Bet Does Not Win | ATSBONUS |
| 🥉 Bet365 | ||
| 🎖️ FanDuel Sportsbook | Bet $5, Get $200 in Bonus Bets if Your Bet Wins | Click To Claim |
| 🎖️ DraftKings Sportsbook | Bet $5, Get $200 in Bonus Bets Instantly | Click To Claim |
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Best Sportsbooks In The US For First Bet Offers
Caesars Sportsbook
Caesars Sportsbook is the online gambling wing of the world-renowned Caesars Entertainment. Legal and live in more than a dozen states. Caesars also boasts one of the most stacked daily promotions schedule and an easy to use interface on both their desktop sportsbook and mobile app.
Caesars Sportsbook offers a first bet promo to new patrons who create an account and use the promo code ATSBONUSDYW . To qualify, place your first wager within 30 days of account registration. If this initial bet does not win, you will receive a refund as a bonus bet, up to $1,000, providing a safety net for your first wager. Note that there is no bonus awarded if the first bet wins. This promo ensures a risk-reduced introduction to Caesars Sportsbook, making it a popular choice for new bettors.
FanDuel Sportsbook
FanDuel seamlessly transitioned from DFS to online sports betting and is the go-to sportsbook for most US bettors, and for good reason. Their quickly loading app gives a ton of betting options, including same-game parlays and same-game parlay+. Legal and live in every legal betting state, FanDuel treats their customers to a full slate of promos, and a new player no sweat bet that has minimal restrictions.
FanDuel’s $1,000 No Sweat Bet promotion offers new users a significant safety net. When you place your first real money wager, if that wager loses, you will receive a bonus bet equal to the amount of your wager, up to $1,000. This bonus is available for use solely within the FanDuel Sportsbook. This promotion ensures that your initial betting experience has “less” of sweat, making it an excellent opportunity for newcomers to get started with sports betting on FanDuel.
BetMGM Sportsbook
From the MGM Grand in Las Vegas to the Borgata in Atlantic City, MGM International is synonymous with gambling in the US market. First launching in New Jersey back in 2018, BetMGM quickly rose to the top of the US Sports betting market. With more prop betting options than you know what to do with and promos that cross over between their sportsbook and online casino, BetMGM may quickly become your favorite online sportsbook.
BetMGM’s First Bet Offer allows new users to place their initial real money wager with confidence. If your first qualifying bet loses, BetMGM will credit your account with Bonus Bet credits, up to a maximum of $1,500, ensuring that even if your stake is higher, you’re protected up to this limit. This generous offer significantly reduces the risk of your first wager, providing a comfortable introduction to betting on BetMGM.
What is a Risk-Free Bet?
A risk-free bet is a popular promotion offered by many sportsbooks used to offer and is now referred to primarily as a First Bet Offer or No Sweat Bet aimed at new customers as part of a welcome bonus. Under this offer, if your first wager with the sportsbook results in a loss, you will be refunded the amount of your stake up to a specified limit. This refund is typically given as a bonus bet or site credit, allowing you to place another wager without additional risk to your own funds. To take advantage of a first bet offer, you must first register an account with the sportsbook, make a deposit, and then place your qualifying wager. The appeal of a this welcome offers lies in its ability to provide a safety net for new users, making it an attractive option for those looking to start betting without the immediate worry of losing their entire stake.
For example, a US sportsbook may offer a first bet on a football game, where you can place a bet on either team to win. If your team loses, the sportsbook will refund your bet in the form of a bonus bet or site credit, which you can then use to place another wager at no additional cost.
First Bet Offers are often used as a way to attract new customers or to promote a particular event. They can be a great way to try out a new sportsbook without risking any of your own money.
However, it’s important to note that first bet bets often come with certain terms and conditions that must be met to qualify for a bonus bet. These may include minimum odds requirements, maximum stake limits, and restrictions on the types of bets that can be placed.
Why Do Sportsbooks Offer Promotions Like Risk-Free Bets?
Sportsbooks offer promotions for a variety of reasons. One reason is to attract new customers. Promotions can be a way for sportsbooks to differentiate themselves from their competitors and stand out in a crowded market. They can also be used to reward existing customers and encourage them to continue using the sportsbook. Promotions can take many forms, such as bonus bets, deposit bonuses, and odds boosts, and they can be a powerful marketing tool for sportsbooks.
What to Look For in an Online Sportsbook Risk-Free Bet Offer
When looking for a risk-free bet at an online sportsbook, there are a few key things to consider:
- Terms and Conditions: Make sure to read the fine print to understand the rules and restrictions of the risk-free bet, such as the maximum bet amount, minimum odds, and any restrictions on the type of bet that can be placed.
- Sportsbook Reputation: Look for a sportsbook with a good reputation and is trusted by players. You can check out our sportsbook reviews for recommendations.
- User Experience: Consider the user experience when using the sportsbook. Is it easy to navigate and place bets? Does it offer a wide variety of sports and betting options?
- Bonuses and Promotions Offered: Look for sportsbooks that offer bonuses and promotions that can help increase your winnings or reduce your losses.
- Banking Options: Make sure the sportsbook offers convenient and secure payment and withdrawal options.
By considering these factors, you can find a risk-free bet at an online sportsbook that meets your needs and helps you enjoy a safe and enjoyable betting experience.
Risk-Free Bet Betting Strategy
A risk-free bet is a bet that is guaranteed to win, either because it is hedged with another bet or because some kind of insurance backs it. Here are a few examples of risk-free betting strategies:
- Hedge betting: This involves placing a bet on both sides of an event, such as betting on both teams in a sports match. This ensures that you will win one of the bets, even if the other one loses and you will have at least one free bet to use on whatever bet you would like to place.
- Go For the Safe Bet: These risk-free bet offers are typically larger than the average bet size for most bettors. If your typical bet size is around $10, a -200 bet will only yield a $5 profit. That same bet using a risk-free bet of $1,000 will yield a $500 profit with the added insurance of knowing you get another shot at it if that bet loses.
- Go for the Long Shot: If you are typically a bettor who bets favorites or even money bets, you can take a risk and go for the underdog, knowing that even if it doesn’t hit, you will get a second chance at it with the free bet refund.
It’s worth noting that while these strategies can reduce the risk of losing money, they may not be entirely risk-free. There is always some element of risk involved in betting, and it is important to gamble responsibly and within your means.
