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 is a risk-free bet. Not every risk-free bet is built the same, so we have broken down all you need to know about risk-free bets.
Best Second Chance Bet Offers in the US
| Sportsbook | Risk-Free Bet Offer | Promo Code |
|---|---|---|
| Caesars Sportsbook | First Bet up To $1,250 On Caesars | ATSBONUSFULL |
| FanDuel Sportsbook | No Sweat First Bet up to $1,000 | Just Click This Link |
| BetMGM Sportsbook | Second Chance Up To $1000 | ATSRF1000 |
| PointsBet Sportsbook | 5 x $100 Risk-Free Bets | SX5X100 |
| BetRivers Sportsbook | Second Chance First Bet Up To $500 | SPORTS |
| UniBet Sportsbook | Second Chance First Bet Up To $500 | Just Click This Link |
What is Risk-Free Bet?
A risk-free bet is a type of bet that allows you to place a wager without the risk of losing your money or giving you a second chance if your first bet loses. This is typically done by offering a refund in the form of site credit or a free bet if your initial bet loses.
For example, a sportsbook may offer a risk-free 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 free bet or site credit, which you can then use to place another wager at no additional cost.
Risk-free bets 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 risk-free bets often come with certain terms and conditions that must be met to qualify for a refund or free bet. These may include minimum odds requirements, maximum stake limits, and restrictions on the types of bets that can be placed.
Best Sportsbooks in the US with Second Chance 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.
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 risk-free bet that has minimal restrictions.
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.
What to Look For in an Online Sportsbook Risk-Free Bet
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.
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 free bets, deposit bonuses, and odds boosts, and they can be a powerful marketing tool for sportsbooks.
