Risk Free Online Betting

How Sportsbook Bonuses Work

• What Is Risk Free Betting
• Risk Free Online Betting Sites
• Risk Free Online Betting Poker
• What Is The Safest Online Betting Site
• Risk Free Online Betting Games

Legal online sportsbooks know that once they sign up a new bettor, they will likely have their business for a while. This is combined with a strong wish to show those who have not bet online for a long time what today’s sportsbooks can offer. They figure once you try live betting, see their apps and check out the huge amount of sports and lines on offer, you’ll stick around!

A risk free bet is similar to a free bet, however it differs in a very important area. Risk free bets is something that is given to existing betters within a book maker, where the book maker will allow you to place a bet on a specific game or race and should you lose then they will return the amount you bet to your account. A risk-free bet can be misleading. To newer online bettors, it may seem like the sportsbook is offering a completely free wager. The truth, however, is that risk-free wagers require some work. Although risk free online betting is a great thing to take advantage of, there are occasions when a risk free first bet at a casino, or a risk-free sports bet comes with conditions. Punters need to keep in mind that money-back bets are promotions and as such are often tied to certain requirements. Barstool’s $500 risk free bet compares favorably to other betting apps. Other top legal online sportsbooks use offer bettors big risk-free bets up to $1,000 at sign up. Typically, such sportsbooks will match a user’s first bet up to a certain amount and refund losing wagers in the form of site credit. PA online sports betting has not been slowed down much by COVID-19. FanDuel continues to be the #1 ranked sportsbook in the state and just increased their free bet to $1,000! FanDuel sportsbook was the first PA sportsbook app to launch on iOS devices like your iPhone and iPad. Pennsylvania players simply visit the App store for iOS and download.

Free bets are loss-leaders to get you in the door. There are several different types to look out for.

• No Deposit Bonuses: Typically, a small bet (think $10 to $25) just for registering.
• Risk Free Bets: Here you’ll bet with your own money, if your selection loses, the sportsbook will refund your stake in the form of a new bet.
• Matched Bet Offers: Sportsbooks will offer a free bet based on the amount you initially bet at their site.
• Free Bets: This type of free bet gives you a specific amount of bonus betting based on reaching milestones. For example, wager $500 and get $100 in free bets.

Once you are a regular customer of a book, they will offer even more incentives. This can include loyalty (points based) schemes, special lines or risk-free wagers or promotions – which can be regular or one-off. There are also offers which return your stake on parlay bets where just one of your selections loses.

Who Can Take Advantage of Sportsbook Bonuses?

At the time of writing New Jersey, Indiana, West Virginia and PA has online sportsbooks. Each state has its own regulations surrounding online sports betting. To be able to take advantage of their offers, you need to be physically inside the state borders. While you can’t bet from outside these states, there is no requirement to be a permanent resident.

You’ll also need to be over 21 (Id will be requested). Sportsbook offers are restricted to one per household, device and person.

How to Claim Your Free Betting Offers?

Depending on the sportsbook, you’ll either receive your free bet automatically on registration, or use a bonus code to claim the offer. You will find information on all the free bet bonus codes here at OnlineGamblingSites.com. Head to the page that covers betting in your state for the full list.

Registering for an account at a regulated book is very easy. You’ll supply your e-mail address, plus some personal information like name, address and date of birth. Following an e-mail approval, your account will be created – and your bonus money will follow. You will be asked to supply backup documents as part of the ‘Know Your Customer’ responsibilities of these sites. If you make a deposit to claim your free bets, this will include backup documents for your deposit method too.

Sportsbook Bonuses & Free Bet Offers Explained

As you will see from the detailed information below, there are plenty of specific terms and rules for the different free bet bonuses. These often have a minimum odds requirement, with -200 the benchmark. This stops people taking advantage of the offers on huge favorites.

With all the examples below, I strongly recommend that you read the terms and conditions before you place your first wager.

1. “No-Deposit Sportsbook Bonuses”

This is the single most popular form of sportsbook bonus for obvious reasons. You get to bet real money for free – and in many cases you keep all of your winnings. These deals range from $10 through to a maximum of about $50. They work by giving you a single bet which needs to be at odds of -200 or better. If your selection wins, then you get the profit from this, though not the stake part.

For example, if you bet $20 of your own money on a money line of 110, then you’d get $22 in profit + your $20 returned = $42 back. That same bet with free money will only see the $22 land in your account.

An important factor with “no deposit bonus” offers is time. These are often very short duration (though this can vary). If your offer only lasts for 7 days, then you can’t use it for futures bets. The offer would have expired by the time the wager is settled. Some books may also restrict the type of bet you can make. Examples include no parlays or only popular lines on major leagues.

Example of a No-Deposit Bonus in Action: Unibet Accepted in PA, NJ & IN

Unibet Sportsbook now has a live sportsbook, and an online site using the popular European brand. You can access this via apps or a website, with the technology powered by Kindred Group – a respected global operator.

Unibet offers a $30 no-deposit bonus for all new sign-ups. Here are the steps:

• Use this link to register your account via Unibet
• You’ll receive $30 free, which must be used for a bet within 7 days
• Odds must be greater than -200 to qualify
• Winnings from this bet will be credited, though the stake will not be returned

This is a simple bonus, with no additional wagering requirements. What I like best about this free bet is that you can still claim the 100% up to $600 risk free welcome bonus at any time.

Free Betting Sites with No Deposit Bonus Offers

The list below is a complete list of legal online sportsbooks offering no deposit offers. I’ve sorted the list by legal state. If you’re not in one of the legal states, you can take advantage of either DraftKings or FanDuel DFS offers.

Rank	Sportsbook & Casino	No Deposit Bonus	Get Your Bonus
1.	DraftKings Sportsbook	$25	Get Bonus!
2.	Unibet Sportsbook	$30	Get Bonus!
3.	FoxBet Sportsbook	No	Get Bonus!
4.	Golden Nugget Sportsbook	No	Get Bonus!
5.	BetMGM Sportsbook	No	Get Bonus!

2. “Risk-Free Bets”

You will normally need to make a deposit to take advantage of a risk free bet bonus. The idea is simple. You make a bet and get your stake back if it loses. If you win, then there are no further actions required – your bankroll is already off to a great start.

If your first bet loses, then your stake is returned in the form of a new bet. Since this can’t be withdrawn, these offers are not entirely risk-free. Having said that, you can always bet the bonus money on a strong favorite (as long as the odds are better than -200). You will also need to bet this bonus money all at once, splitting it into several smaller bets is not normally permitted.

While these are generous bonuses and removing much of the risk gives new bettors a big boost, there are drawbacks. To get the best from these, your first bet often needs to be big. For example, if your regular ‘fun’ bets are in the $20 range, then betting $200 in one go might be outside of your comfort zone. Once again, time limits will vary between the sportsbooks.

Online Betting Sites with Risk Free Bets

Rank	Sportsbook & Casino	Legal States	Risk Free Bet	Get Your Bonus
1.	Unibet Sportsbook	NJ, PA, IN	Up To $600 Risk Free Bet	Get Bonus!
2.	DraftKings Sportsbook	PA, NJ, IN, WV, IA, CO, NH, IL	Risk Free First Bet Up To $500	Get Bonus!
3.	Borgata Sportsbook	NJ	$100 In Free Bets When You Bet $20	Get Bonus!
4.	BetMGM Sportsbook	NJ, IN, WV, CO	No	Get Bonus!
5.	Golden Nugget Sportsbook	NJ	$100 Risk Free Bet	Get Bonus!
6.	FanDuel	NJ, PA, IN, WV, IL, CO	$1,000 Risk Free Bet	Get Bonus!
7.	William Hill Sportsbook	IL	$300 Risk Free Bet	Get Bonus!

Example of a Risk-Free Bet Bonus: DraftKings Accepted in PA, NJ, IN, WV, IA, CO, NH, IL

DraftKings is the company behind the huge DFS brand – and one of the biggest fantasy sports operators. Their online sportsbook, brings innovative bets (cash out betting, in-play betting) and exciting promos.

New depositors get a risk free first bet up to $500 + $25 in 5 x $5 free bets. Here is how it works:

• Register your account and make a deposit
• Your first bet (straight bets and parlays only) up to $500 will be risk free
• If it loses, you are refunded your stake as a free bet
• You have 90 days to place your initial wager, then 7 days to use your free bet if needed

While $500 risk free is a generous offer, there is still some risk! The offer returns the stake for losing bets as a further free bet. This means you have to gamble it once again to get the benefit. While your risk could be reduced by betting on a strong favorite, minimum odds of -200 are needed – limiting this to an extent.

3. “Matched Deposit Bonus”

Of all the free bet bonuses offered by online sportsbooks – the matched bonuses are the biggest. Some of these will reach 4 figures. Once again, the idea is simple, though the devil is in the details.

You make a deposit at a book, who will offer you free bets that match the amount your deposited. For example, you deposit $500 and get to play with $500 in free bets, as well as your own cash balance.

What I like about these offers is that you are not usually restricted to a single bet. You have a bonus money balance, which can be used for as many bets as you wish within a certain timeframe. The best sportsbook bonuses only require that you wager your bonus once. Look out for books that require more play-through than this. It will make clearing your bonus a lot more difficult.

Depending on the size of your matched bonus, time can play an important role. For example, if you start your account off-season for your favorite sports, then making enough bets within 30 days might be a stretch. Some books allow 60 or more days to clear this type of free bet offer.

You will usually be able to take advantage of a matched first deposit bonus after enjoying the no-deposit free bets.

Matched deposit offers are also available for loyal bettors at many sites. These are known as ‘reload bonuses’, as they kick in when you reload your account.

Example of a Matched Deposit Bonus: SugarHouse Accepted in PA

SugarHouse operates an online sportsbook in both PA and NJ. They use an in-house platform by Rush Street interactive.

SugarHouse offer an ‘old school’ matched deposit bonus up to $250. The idea is that your first deposit gets matched at 100% with free bets. You then need to wager this bonus money in order to ‘clear’ it into your real money account. Here is how the offer works:

• Visit Sugarhouse Sportsbook here and use bonus code PLAY250
• SugarHouse Sportsbook will match your deposit at 100%, up to $250 max
• You need to wager this bonus money 1x to clear it into your cash account
• You need to activate and wager your bonus with 30 days of your deposit

Many books have minimum odds, or much shorter durations – making this SugarHouse free bet offer both generous and simple. This book combines sports and casino into a single platform – meaning you’ll get to take advantage of promos from both sides.

4. “Free Bets Based on Wagering”

The final common way in which regulated sportsbooks offer bettors bonuses is to give you free bets as you reach milestones. For example, you make a deposit, wager as normal, then get free bets each time you hit $100 in wagering.

A big advantage here is that you can bet in smaller units. There is no need to have a single huge bet to take full advantage of an offer. If that offer is for $20 in free bets every time you wager $200, then you can make 10x $20 bets to get there (or any other sizing).

Free bets are different to free cash. This bonus does mean you’ll have to wager it at least once before it can be withdrawn. As a rule of thumb, this will need to be at -200 or better and in a single bet. Once again, make sure you have enough time based on your regular betting style to reach the target. With this type of bonus, you will still get a proportion of the bonus if you don’t make it in time!

Example of a Wagering Based Free Bet: FoxBet Accepted in PA, NJ & CO

While the welcome offer is a risk-free bet, free bets every week keep loyal patrons happy! While this free bet is an ongoing promo, many of the big international brands will use this type of promotion for new customers.

At FoxBet, the wagering-based free bet is super-simple. You bet $25 in any given week – and then receive a $5 free bet in your account. The usual rules apply, with this free bet lasting 7 days before it expires. Bets can’t be on huge favorites – with the -200 minimum still in place.

You’ll find that FoxBet Sportsbook look after their regular bettors really well – this is one of many promotions they offer.

Take Full Advantage of Sportsbook Bonus Offers

With the roll-out of regulated sportsbooks underway, it is a great time to take advantage of those marketing offers and get your share of the free bet bonuses on offer.

What Is Risk Free Betting

As you’ll see above, there are 4 main types of free bet offer. These are completely free bets (no-deposit offers), matched deposit bonuses, risk free bets and wagering based free bets.

Which one is best for you will depend on the size of your initial betting bankroll. Your appetite for risk also plays into this. For bettors that would like to see how the new online sportsbooks work, then the completely free bonuses are a great way to start. What I like about those is that you can always take advantage of the bigger deposit bonuses later if you like what you find.

With a typical sports bet, you must risk your own money. Assuming you win, then you’ll receive a payout based on your odds.

If you lose, then the bookmaker gives your money to the winning side—minus the small commission they take.

But what if you could place a sports wager without taking on any risk? This concept is exactly what’s behind a risk-free bet.

Obviously, a free wager sounds great. It does, however, come with some degree of risk and isn’t entirely free either.

The following guide discusses more on the basics of risk-free bets. It also covers terms and conditions behind these wagers that you should be aware of.

What Is a Risk-Free Bet?

A risk-free wager gives you an opportunity to win back losses from a losing bet. The keyword here is opportunity because you’re not receiving a completely free wager.

Here’s an example of what happens when you place a free wager:

• An online sportsbook offers a free bet worth up to $50.
• You place a deposit and qualify for this offer.
• You make a $50 bet and lose.
• You now have the chance to earn back the $50.

Regarding the last point, you must satisfy terms and conditions before collecting your money. We’ll discuss more on T&Cs later, but you can see that there’s work involved before you benefit from a free bet.

How to Get a Risk-Free Wager

Many online sportsbooks offer risk-free wagers to new bettors. You can take the following steps to qualify for these promotions.

Step 1: Find an Online Sportsbook With a Free Bet

Your first need to find a betting site that offers a free wager. Luckily, as mentioned before, you won’t experience much difficulty in discovering these offers.

Most internet sportsbooks offer a free bet as part of their welcome package. They may even throw in a deposit bonus for good measure.

Nevertheless, you should ensure that a prospective internet sportsbook offers a free wager before signing up. This way, you’ll be sure to cash in on any such offer.

Step 2: Register for an Account

Every internet sportsbook requires you to register for an account before you can begin making bets. You simply choose the prompt on the homepage to get started.

Once you select the signup prompt, you’ll need to fill in the requested information. Some of the info that betting sites require includes your email, username, password, and mailing address.

After filling out the form, you submit it and wait for approval. Provided you’re of legal gambling age in your jurisdiction, you should receive instant approval.

Step 3: Enter the Bonus Code During Registration

The registration form includes a blank field for a bonus code. This card indicates to the bookmaker which bonus you’d like to qualify for.

You simply enter the code before submitting your signup form. Provided you input the code correctly, you’ll receive the appropriate bonus.

Step 4: Make a Deposit

You don’t need to deposit immediately after registering for an account. If you want to bet at the sportsbook, though, you’ll eventually need to place a deposit.

Most online bookmakers offer several banking options, including Bitcoin, bank transfer, credit card, prepaid card, and wire transfer.

Once you select an available banking method, you need to enter how much you’d like to deposit. From here, you confirm the transaction and wait for funds to arrive.

Step 5: Place Your First Bet

A risk-free offer covers your very first wager at an internet sportsbook. After depositing, you’ll need to place your first wager to benefit from the deal.

Assuming you win, you simply collect your winnings and move on. The offer kicks in if you lose the bet. At this point, you’ll have a chance to get your losses back.

Terms and Conditions Behind a Risk-Free Bet

As mentioned before, a risk-free wager isn’t necessarily free. Instead, you need to satisfy terms and conditions before getting your money back. You can see the T&Cs that are normally behind these offers below.

Claim Bonus

After completing registration, you must claim a risk-free wager from your account. Only then will you activate the offer.

This step merely involves visiting your account and selecting the claim button. Once you do so, your bonus will be active and available for betting purposes.

Rollover

You must satisfy rollover (playthrough) before cashing out anything from your bonus. Playthrough refers to a multiple of the bonus that must be wagered.

Here’s an example:

• You sign up at an online sportsbook and qualify for a $25 risk-free wager.
• You place a $25 bet and lose.
• Rollover is 6x.
• 25 x 6 = $150 must be wagered

Once you wager $150 in this instance, you’ll receive the $25 in losses back. From here, you can either wager the $25 again or cash out.

Minimum Odds

As mentioned above, you must satisfy rollover before receiving losses back from a risk-free bet. While meeting playthrough, you need to ensure that your bets are above the stated minimum odds.

For Example:

A bookmaker might require you to place every wager at -150 odds or above. Under these circumstances, you’ll be fine if you place a bet at -145 odds. But you’re disqualified from the bonus by wagering at -155 odds or lower.

The reason why bookmakers instill this requirement is that they want to make sure you don’t just wager on heavy favorites to meet rollover.

Market Restrictions

Sometimes, risk-free bets are only available for specific markets. For example, you might receive a free wager that’s only available for NFL games.

In such case, you need to stick with the required market. Placing your bet on another sport/league could disqualify you from the offer.

Risk Free Online Betting Sites

Deposit Restrictions

Again, you can deposit at betting sites through a variety of methods. However, you want to check for deposit restrictions before officially funding your account.

Many bookmakers accept Neteller and Skrill as payment options. But they don’t let you qualify for bonuses when using these deposit methods. If you can’t get a free bet through either of these e-wallets, then you’ll want to find another banking option.

No Cashout With Active Bonus

The last thing you want to do after losing a risk-free bet is request a withdrawal. Doing so will cause you to miss out on earning your funds back.

Of course, nothing is stopping you from requesting a cashout. But if you’re at all interested in earning losses back from your bonus, then you should satisfy the terms and conditions before making a withdrawal.

Risk-Free Bet vs. Deposit Bonus

The two most-common types of welcome bonuses that online sportsbooks offer include a risk-free wager and deposit bonus. Sometimes betting sites offer both of these deals.

If you’re going to take advantage of either one, then you’ll definitely want to know the differences between the two. Here are the main pointers behind a deposit bonus:

Risk Free Online Betting Poker

• You must place a deposit.
• The casino matches your first deposit.
• You activate the bonus before trying to meet rollover.
• You get to cash out the entire bonus upon satisfying playthrough and other T&Cs.

One major difference with deposit bonuses is that you don’t need to lose to benefit. Instead, you just have to place enough wagers to satisfy rollover and collect your bonus.

Here’s a step-by-step example on how these offers work:

• An online casino offers a 100% match bonus worth up to $500.
• You deposit $200 and, thus, qualify for a $200 bonus.
• Rollover is 15x.
• 200 x 15 = $3,000 must be wagered

Again, you don’t need to lose any wagers to benefit from a deposit bonus. Instead, you just have to place bets (win or lose) until meeting T&Cs.

Conclusion

What Is The Safest Online Betting Site

A risk-free bet can be misleading. To newer online bettors, it may seem like the sportsbook is offering a completely free wager.

The truth, however, is that risk-free wagers require some work. If you lose, you still need to satisfy terms and conditions before receiving your losses back.

Risk Free Online Betting Games

Nevertheless, risk-free bets are still worthwhile. Assuming you’re going to place online wagers anyways, you might as well take advantage of these offers. Going further, you can find free wagers at many online sportsbooks throughout the industry.

Please enable JavaScript to view the comments powered by Disqus.