Risk-free bets are one of the Indian player’s absolute favorite bonuses for sports betting. Many however are still not quite sure what they are. It is often said that the devil lies in the detail, and, in the case of online betting sites, the fine print. Some offers that may appear lucrative would look much less attractive if they are viewed from a different perspective. Again, not understanding what each term in an online betting site means can lead you to make the wrong betting decisions.
To ensure that this does not happen to you, this article takes a detailed look at risk-free bets to help you understand them fully.
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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. A risk-free bet is a bet that you can place, safe in the knowledge that if it loses, you’ll get all or part of your stake back. The refund can be paid in cash or in the form of a free bet or bonus. It’s a popular type of sign up offer as the bookmaker knows it will appeal to new customers. After registering with BetMGM in a regulated state, you will be eligible for a risk-free bet on your first wager. The offer goes up to $500, so the bookmaker encourages newcomers to start big. Furthermore, they can achieve the no-risk bets offer either by winning a free bet or through the matched betting bonus. Following the sportsbook’s matched betting bonuses and strategies, bettors are able to easily guarantee a profit from these risk-free betting offers. No risk bets opportunity is foolproof from any loss. New users to FanDuel Sportsbook get their first bet RISK-FREE up to $1,000! Bet on all major U.S. Sports, including professional football, soccer, basketball, baseball, golf, boxing, motorsports racing, and more.
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What are Risk-Free Bets? (As opposed to free bets)
Simply put, these are bets that do not have a risk attached to them. The risk of any bet is usually losing your stake. Therefore, when a best is risk-free, it means that you do not lose your stake even if your prediction does not turn out right.
Different betting sites in India award the risk-free bet differently. In some, the stake you had placed is returned to your account balance in case the bet does not go through. In others, the house does not return the money but rather allows you to make another bet of similar value without incurring a balance deduction. The latter is often referred to as a risk-free bet bonus.
The reason why it is important to outline the above definition is that many people often confuse risk-free bets with free bets. The two are essentially different. When you receive a risk-free bet, you actually wager your own money, but without the risk of losing it. When you receive a free bet, you place a wager without using any money.
Basically, a risk-free bet only benefits you if you lose. If you win, the risk-free condition ceases to apply.
When are Risk-Free Bets Given?
Most houses offer risk-free bets when players are new to the site. They allow the players to get a feel of how the site works without getting their fingers burnt. Other times, betting sites use risk-free bets to promote a game that is generating a lot of hype. Other houses use it as a loyalty reward for players who play continuously on their platform. As a betting enthusiast, you should always look out for these offers in your favorite betting house. Often, these offers are only available for a few hours or a single day so you might miss out on them if you don’t log into your account often.
Where and When Do You Use Risk-Free Bets?
Since you do not stand to lose with risk-free bets, you should always be a bit experimental with it. Most houses allow you to use it on any sports bet of your choice, be it in a game of soccer, football, basketball or hockey.
The game you bet on should have high odds since you are cushioned from the risk of loss. You should, thus, choose carefully a game that is bound to give you nice returns. That said, you should not just use the opportunity carelessly; it doesn’t come by that often. You will need to do a good analysis to identify a team that is likely to cause a major upset. Avoid teams that are very evenly matched since the odds between them will be largely the same. Rather, observe trends and identify a fixture where a declining giant is matched against an improving minnow.
Again, you will need to check the validity of your risk-free bet. Most of these bets expire after a while and would be a major loss if not utilized. Once you know how long your risk-free bonus bet is valid and the teams you intend to bet on, hold out for the odds to hit their peak. Do not bet too early or too late. If you bet too early, you may suffer because of issues like weather or pre-game injuries. Betting late is also likely to see you miss out on when the odds are at their best.
Risk-Free terms and Conditions
Like any other offer on a betting site, risk-free bets also have conditions attached. These conditions vary from one house to another, and from one bet to the next. There are, however, some features of these conditions that are structurally similar.
The first condition to look out for is validity. Be keen on how long your betting bonus lasts so that you do not lose it. Again, confirm whether you receive a refund or a similar bet in case of loss. Most risk-free bets become null if the bet placed wins. Do not bother contacting support seeking another risk-free bet if your first one wins.
Again, you will notice that many houses place the minimum odds of games that you can utilize your free bets on. They, too, want to challenge you to go for the risky shots.
To Use or Not to Use Risk-Free Bets
Risk-free bets are a great offer and you should definitely take advantage of them. They usually have easy terms attached, and they allow you to experiment without fear. However, you should use them wisely to benefit from them. Understand their terms and research well before placing bets.
It’s no surprise that only the most experienced sports betting enthusiast has an opportunity to make a profit against the house in the long term. However, for the rest of us, there are more than enough chances to turn the odds in our favor in the short term.
The easiest way to achieve this is to take advantage of the free sports bets and other no deposit offers and bonuses available to new sportsbook players.
Most regulated online sportsbooks have free money offers that are custom made for new players to place the odds in their favor temporarily.
With more sports betting sites coming online every day, you should understand the potential of the bonuses available to you.
Whether you want to find a bonus or promo code to claim one of these offers, or you are combing the fine print to understand the playthrough requirements, we at PlayUSA have you covered with our comprehensive guide to bonuses available at online sportsbooks.
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How free bets work
Free bets sound too good to be true. Do sports betting sites really offer free money to their players? The simple answer is yes.
A free bet as an opportunity to place a wager without any risk, and receive a payout on the net winnings if you have a winning bet.
The main difference between a regular bet and a free bet is that you don’t need to contribute the stake when it comes to a free bet. Therefore, you won’t receive the stake as a refund along with your winnings if you have a winning bet.
There’s nearly an infinite supply of free bets available at reputable online sportsbooks. The easiest way to claim a free bet is to register for a new account with an online bookmaker. Reputable sports betting sites utilize free sports bets to encourage fans to register a new account and eventually make a deposit.
Online sportsbooks hope that by giving you something for free up front, you will continue placing bets on their site. This explains why you need to sign up for a new account and register a valid payment method before you receive your free bet.
How to claim the offer
To claim a free bet offer, most sports betting websites require a bonus or promocode.
Alternatively, you will need to make a minimum deposit before the free bet offer is credited to your account. However, the use of a bonus or promo code is one of the most popular methods utilized by online sportsbooks.
Should an online bookmaker require a code, you will need to provide it during the registration process or when you make your initial deposit. This process all depends on the nature of the bonus you wish to claim.
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The promo code field is usually on the deposit or registration page. Once you locate the box, you enter the promo code that is associated with the free bet offer or deposit bonus before completing the registration or deposit. The bonus will then be credited automatically after that.
If you are on a sports betting site that doesn’t require a promo or bonus code, you need to gloss over the promo code field that is usually optional.
Please take note that you’ll still need to opt-in for the free bet or deposit offer to receive the bonus. This rule usually entails clicking on the “Deposit Now” or “Opt-In” button on the bonus or promotional page.
A promo or bonus code is essentially a coupon. However, instead of offering a discount on your purchased goods, it allows you to receive a better bang for your buck.
There’s plenty of online sportsbooks that offer unique promo codes. However, because we create our exclusive promo codes that are more generous when compared to the public offerings, we highly recommend that you shop with us first.
Types of free bet bonuses
You can treat yourself to a variety of free bet bonuses and promotions at some of the best sports betting sites in the industry.
To help you differentiate the types of free bet bonuses at reputable online sportsbooks, we will cover some free bet offers.
Risk-free bets
Risk-free bets can be an excellent foundation of matched betting profit. This type of free bet will allow you to place a bet knowing if you lose, you’ll receive the money back in the form of a free bet, cash prize or even a bonus.
However, a risk-free bet will require you first to make a deposit and place a bet with your money before a risk-free bet will come into effect. For instance, most sports betting sites will offer a $10 risk-free bet promotion. However, you will first need to wager $10 of your money. Also, your bet needs to be on minimum odds of 2.00 or higher.
Should you lose your $10 bet, you will receive $10 as a bonus back into your account only if you meet the wagering requirements. The bonus amount you receive must then roll over a couple of time at 2.00 odds of higher before you can withdrawal it.
Free bets
Alongside deposit bonuses, free bets are the most popular form of bonuses in the online betting industry, especially to new players.
Free bets can be seen as wagers you can make on the house’s expense. As a rule of thumb, you can only withdraw the winnings made from a free bet, and will not be able to cash in the free bet amount as well.
You can spend your free bets in an assortment of betting types. For instance, you can use your free bet amount to place a moneyline favorite during an NHL match, or you can use your free bet on a four-leg parlay if you want to take a risk. Either way, there’s nothing to lose.
Free bets can come in a variety of shapes and sizes to accommodate all betting preferences. These include:
Match bet offers
A match bet offer can also be regarded as a risk-free bet. It’s a smart way to promote a risk-free bet.
You will need to wager your hard-earned money before a match bet offer will take effect. Should you lose your first chance, the online sportsbook will credit your account with the same amount your wagered, up to a certain percentage.
Most online sportsbooks usually promote a match bet offer of 100% of up to $500.
Free bet no deposit offer
No deposit free bets are free at most online betting sites. As an entirely free bet, there will be no need to make a deposit to claim the no deposit free bet.
It should come as no surprise that a no deposit free bet amount is usually minimal. For instance, most online sportsbooks will offer a no deposit free bet that ranges from $5 up to a maximum of $10.
Should you win with a no deposit free bet, please note that you won’t be able to cash in your winning immediately either. You will need to wager your winnings 10-15x to meet playthrough requirements.
Deposit match bonus offer
At an online sportsbook, a deposit match bonus mainly works the same way as a deposit bonus at an online casino.
Once you register for a new account and make a deposit, the online sportsbook will match your deposit, usually up to 100%. However, instead of the unachievable 40x wagering requirements at online casinos, sports betting sites will typically feature an easier way to meet playthrough requirements on the deposit match free bet offer.
Most online sportsbooks’ playthrough requirements are only one time. That is fantastic if you want a bonus with feasible wagering requirements that will allow you to cash out in a short time.
Advantages of free bets
The best advantage to claiming free bets at online sportsbooks is you’ll be able to test drive the sportsbook to ensure it’s smooth and reliable before making your initial deposit. You will also discover which sporting events and betting types are available on the sports betting site.
Apart from not having to spend your hard-earned money first, another advantage is you can place a bet absolutely risk-free. Furthermore, even if you do have to spend your money first, you can still be awarded a risk-free bet should you lose.
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Last but not least, another advantage is you can prolong your betting experience by increasing your bankroll. Essentially, this allows you to make more bets than usual, which could lead to being more profitable.
Disadvantages of free bets
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Although there are several reasons to take advantage of free bets at online sportsbooks, they do come with a handful of disadvantages as well.
For instance, most of the free bets have various terms and conditions that you must meet before you can cash in on your account. These terms and conditions are usually difficult to reach and will cause headaches if you wish to use them to profit on your account.
Apart from the terms and conditions, you will also notice that free bets offer little value or the amount you’ll receive in your account. Most free bet offers tend to range between $5-$10 as a no deposit free bet. If you find a higher offer, you will usually need to make a deposit first to receive the free bet credits in your account.
Also, most free bet offers come with restrictions that we’ll discuss in-depth.
What Is Risk Free Betting
Restrictions
Every sportsbook promotion, whether it’s a no deposit free bet or a deposit bonus, will have a variety of restrictions you will need to know before you claim the offer.
Unfortunately, this means you will need to comb through the terms and conditions to find out what you can and cannot do with your bonus.
Fortunately, here is the list of typical restrictions to make your free betting life easier on you:
No splitting: Most of the free bet offers at sports betting sites cannot be split in any way. For instance, should you receive a $20 free bet, you will only be able to make a single bet of $20. Also, you are limited to one betting market.
Restricted odds: Free bets are also restricted by odds. Essentially, this means you will need to look for specific odds for your free bet to qualify. Even the best free bet offers require you to place a wager on odds no lower than 1.5 to meet the requirements.
Maximum win: Most free bet offers have restrictions on the amount you can cash in. For instance, a no deposit free bet offer will have a cap of around $200 that you can cash-in once you meet the playthrough requirements.
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Time-sensitive: Most free bet offers will be available for a limited time. Once you register for a new account and claim the promotion, it may only be available for seven days before it expires.