RISK-FREE
In this section we are going to thoroughly explain what this welcoming bonus is, how it works, and what you should keep an eye on.
Scroll down to find all the information you need in order to place your first risk-free bet!
Introduction to Risk-Free Bets
Welcome promotions in the form of riskfree bets are a common feature among sports betting websites for new players. This type of offer allows new players to receive their funds back as site credit or a free bet in the event that their first gamble does not win. It’s important for new and returning players to be aware of the terms, conditions, requirements, odds, and other important details specific to each sportsbook.
Discover how to claim your welcome bonus and learn about its features in this section. We will also guide you on how to use it and what to watch out for when placing your first risk-free bet. Keep reading to find all the information you need.
How Do They Work
As previously mentioned, all riskfree offers and promos are different and they change frequently. Some will allow you to keep both the stake and the profit in case your bet wins, while others will only pay out the winnings, but not the stake.
Put simply, risk-free bets offer you a second chance at winning. For instance, let’s say you place a bet and you lose it. As a result, the sportsbook will give you your money back in the form of site credit, a free bet, or bonus cash to use on other bets. Moreover, if your bet wins and you’ve met the requirements, then congratulations! You can withdraw your profit immediately.
What are Risk-Free Bets?
Popular amongst newcomers, a riskfree bet offers customers various types of refund in case they lose. Hence, it’s commonly known as a “welcome offer” that’s awarded to new customers. The refund usually comes in the form of site credit or a free bet, depending on the bonus.
While these bonuses may look similar at first, they have some differences. It mainly comes down to how your potential losing wager will be refunded, and in what amount. This is what makes some offers better than the others.Therefore, it’s important to be well-informed about how these bonuses work and how you can use them for your own benefit.
Risk-Free Bet Example
Let’s use GG.BET’s autumn promo as an example. In this specific promotion, you may place a bet on a football, basketball, volleyball, tennis, hockey, boxing or MMA match, up to $15. The bet has to be of single type, with odds going from 1.75.
If your team wins and you wish to withdraw your cash, you must place bets for a total amount of cash that is 2 times more than the cash won. However, you also get to play 3 times in total. This means that you don’t get 2, but 3 chances of meeting this requirement.
Furthermore, if you do lose, then you get to keep the money you deposited as bonus balance. So technically, you don’t lose anything, especially not if you plan on placing more bets in future.
Risk-Free Bet Strategy
Riskfree betting is a popular strategy among sports bettors. By understanding the different risk-free betting strategies, you can increase your chances of making a profit. Here, we will discuss several hacks you can consider to make the best out of your gamble.
Betting on Your Favorites
Betting on favorites is a safe and underrated way to use your risk-free bets. Favorites typically have smaller odds, which means your profits won’t be as high. For example, if you wager $1000 on -200 odds, you will get a profit of $500. Using this risk-free strategy allows you to handle your risk-free wager like a regular one, making it a low-risk strategy.
Leveraging Arbitrage Opportunities
Arbitrage betting is a strategy that involves placing bets on both sides of a game when different sportsbooks have varying pricing. This can lead to a guaranteed profit regardless of the outcome. However, the profit margin is typically low compared to the wager amount. With good research, you can find mouthwatering arbitrage opportunities and increase your profits.
Wagering Risk-Free Bets on Longshots
When wagering on high-risk outcomes, you are likely to get the highest value even if you lose. In these cases, the minimum you will get is a free gamble. If you win, you will get the profit from the free opportunity. This strategy allows you to recoup some of your losses.
Counter-betting With Another Sportsbook
Similar to arbitrage betting, this strategy involves placing a risk-free bet on one sportsbook and another bet on a different sportsbook. In doing so, you will earn a profit of $909.09 on either stake. Even if the risk-free bet loses, you will still have the site credit or free stake to make further wins.
Benefits of Risk-Free Betting
Riskfree betting offers several benefits for sports bettors. Here, we will discuss some of the main advantages of using risk-free bets.
Bankroll Building
Riskfree bets can be a great way to build your sports betting bankroll, especially if you don’t have much to start with. If your initial bet wins, you can potentially make a large profit. If it loses, you can still win big on your free bet.
Customer Friendly
Sometimes, bettors come across a bet they are particularly confident in, but don’t want to risk a lot of money. Risk-free bets can be a good option in these cases, as they mediate the risk of betting more than usual.
Great for Bets You Feel Good About
Riskfree bets are a customer-friendly option because of the math involved. Sportsbooks typically don’t expect to make a short-term profit on them, but instead use them as a way to attract new customers and build brand loyalty in the long-term. Even novice bettors can make money on risk-free bets if they understand the math and apply it correctly.
How To Pick the Best Risk-Free Betting Sites
When it comes to riskfree betting, not all sites are created equal. To pick the best riskfree betting site, there are several factors to consider.
Good Odds
Choose sites that offer high payouts for your preferred risk-free bet. Even a small difference in odds, like +110 and +100, can make a big difference in your potential profits.
Bonus Credits
Look for sites that offer bonus credits that you can use as you desire. This way, you don’t have to wager a lump sum. Sites that allow you to break down your free bets into smaller denominations increase your chances of winning money.
User-Friendly Interface
Make sure to choose a site with a user-friendly interface. Nothing is more frustrating than having a hard time finding your preferred wager due to a poorly designed app.
Highest Dollar Risk-Free Benefit
If you have a large bankroll, look for risk-free offers with the highest maximums. A $500 riskfree offer is more valuable than a $100 risk-free offer.
Risk Free bet Terms and Conditions
Before using any sportsbook, it’s important to understand the specific terms and conditions for risk-free bets. Each sportsbook has different rules, but there are some general rules that apply.
Minimum Odds
Sportsbooks will inform you of the minimum odds associated with a risk-free bet, but there might be restrictions on its use and you may not be able to use it on all markets.
Risk Free Bet Limit
Most riskfree bets have an upper limit, even though you can wager more than the stated amount. For example, if a riskfree bet limit is $200, you can still stake $250, but the free stakes or credits that will be returned will be capped at $200.
Playthrough Specifications
If a riskfree bet loses, you will not be able to withdraw the amount immediately, as you need to fulfill playthrough specifications or requirements set by the sportsbook.
Best Time to Use Risk-Free Bet
Sportsbooks will inform you of the time frame to place your wager. It’s crucial to know this range to avoid wasting your risk-free bet. Typically, sportsbooks will give a maximum of 30 days to use it.
How to Get a Risk-Free Bet Refund
Refunds for riskfree bets can come in the form of site credit or a free wager. Site credit can be spread out across multiple stakes, while a free wager can be used all at once.
Few Tips to Look Out For
Most offers aren’t too complicated to understand, once you have the basics figured out. Generally, some rules are always similar, but some vary based on your chosen betting platform. Some of the details which you should always keep an eye on include:
- TERMS AND CONDITIONS
Each sportsbook issues refunds and bonuses differently.
Make sure to read the requirements and restrictions attached to each offer! - TIME LIMIT
Unsurprisingly, every offer also comes with an expiry date.
Pay close attention to dates and try to target the ones that give you more time to use your refund.
Conclusion on Risk-Free Bets
In conclusion, risk-free bets can offer a lot of potential if you know what to look for. We hope that our advice will help you choose the right online betting platform for you. We also reviewed some of the best real money online casinos that are worth considering, whether you’re a newcomer or an experienced bettor.
Remember to always gamble responsibly. With the right approach and a bit of luck, you may be able to reap the rewards of risk-free betting. Good luck on your next bet, fortune favors the bold!
