Best Risk Free Bets

A risk-free bet means that you will get your money back in the form of free bets if you lose your first wager. In this page you will find everything you need to know about risk-free bets.

Best Risk-Free Bet

PointsBet Sportsbook

  • The biggest risk-free bet in the US
  • Two risk-free bets (usually just one)
  • Valid in six states
  • PointsBetting and fixed odds allowed
  • Large deposit required to qualify for the full amount
Welcome Offer
2x risk free bets worth $2,000
Claim Go to website
Website: pointsbet.comFounded: 2017
Owner: PointsbetHeadquarters: New Jersey
PointsBet Sportsbook
Pointsbet_signup
PointsBet Promos

Summary

Author: Nils Edmondson Nils Edmondson

BettingScanner's verdict 9/10

Pointsbet is an Australian company, that launched in the US in 2019. The sportsbook places a heavy emphasis on point spread betting, a unique form of betting where you are rewarded, or docked points, according to how wrong or right a bet was.

Read full review

Risk-Free Bonuses 2021

Risk-free bonuses are the most popular form of welcome promo offered by legal online sportsbooks in the US.

This type of bonus allows you to place your first wager - in some cases multiple wagers - safe in the knowledge that you'll be repaid in free bets should you lose your bet.

There will be a minimum and maximum amount stipulated by the sportsbook.

This type of offer is an excellent way to test a new sportsbook without risking a load of cash. Although, it is important to remember that free bets may contain a turnover requirement that we explain in further detail further down.

Pros & Cons with Risk-Free Bets

Pros with Risk-Free Bets 👍

  • A great risk-free way to test out a new sportsbook.
  • The amount permitted for risk-free bonuses is currently very high in the US.
  • A large number of trust and legit online sportsbooks currently offer risk-free bets, including FanDuel & PoinstBet.

Cons with Risk-Free Bets 👎

  • Some risk-free bonuses contain turnover requirements which can lower their value considerably.

Best Risk Free Bonuses

888sport Sportsbook

  • Only a 1x turnover requirement
  • Bonus can be used on a wide range of bets
  • More promos available once you have collected welcome bonus
  • Wide selection of payment platforms for deposits & withdrawals
  • Only available in NJ & NV
Welcome Offer
Risk-free bet up to $500
Claim Go to website
Website: Founded: 2008
Owner: Avi Shaked, Aaron Shaked, Shay Ben-Yitzhak, Ron Ben-YitzhakHeadquarters: Gibraltar
888Sports sign-up
Promotions
888Sport homepage

Summary

Author: Nils Edmondson Nils Edmondson

BettingScanner's Verdict: 9/10

888sport is one of the largest betting companies in the world. It entered the US market in 2013 when it opened in Las Vegas and has since firmly established itself as one of the best online sportsbooks in the country.

888sport is also licensed in New Jersey.

Read full review

FanDuel Sportsbook

  • Bonus can be used on a wide range of bets
  • Lots of deposit options
  • Only a 1x turnover requirement
  • Slightly higher risk-free bonus that market average
  • Available in 10 states
  • Less withdrawal options
Welcome Offer
up to $1,000 risk-free bet
Claim Go to website
Website: Founded: 2009
Owner: Flutter Entertainment (previously Paddy Power Betfair)Headquarters: New York City
Fanduel Sportsbook
Fanduel Sportsbook Promos
Fanduel Sportsbook Desktop

Summary

Author: Nils Edmondson Nils Edmondson

The New York-based company began life as a daily fantasy sports provider but now can claim to be the country's most popular sportsbook. According to BettingScanner, it enjoys the second highest brand awareness rate in the US (41%).

Fanduel Sportsbook is operational in the following states:

  • New Jersey
  • Pennsylvania
  • West Virginia
  • Nevada
  • Indiana
  • Iowa
  • Illinois
  • Tennessee
  • Michigan
  • Colorado
  • Virginia
Read full review

Risk-Free Bets FAQS

Risk-free bets are a popular form of welcome offer but what do they mean and how do you use them? We do our best to answer your most common questions.

What is a risk-free bonus?

A risk-free bonus is a welcome offer for new players. It means that you can, as a new customer, place your first wager and if it loses you will receive your money back in the form of free bets.

There will be a minimum and maximum amount that you can wager and you will be restricted to certain types of wagers.

Most risk-free bonuses, such as PointsBet's, will only require you to win once more with your free bets before the money is counted as yours. Other sportsbooks may place a higher turnover requirement.

How do risk-free bonuses work?

Sportsbooks that offer risk-free bonuses will require you to sign-up and place your initial deposit before the promo is activated.

Once you have received your bonus, you can place your first wager. Once you have done this your bonus is live.

If you win your wager then you will receive your winnings as normal. If you lose your wager then the bonus will kick in, and you will receive the amount of your initial bonus in free bets.

These free bets in turn will contain their own terms and conditions including a turnover requirement. This means you will need to win with your bonus a certain amount of times before the money is yours.

How do you collect a risk-free bonus?

You can collect a risk-free bonus at an online sportsbook that has advertised this type of promo.

You will need to sign-up and make your first deposit with this sportsbook to qualify for your risk-free bonus. You can read more about this at our guide to deposits and withdrawals.

When you place your first wager your bonus will go live. This means that if you lose your bet you will receive your original wager back in the form of free bets.

How do I get my risk-free bonus?

You can get your risk-free bonus by signing up for an online sportsbook that offers this form of promotion to new players.

You cannot collect your risk-free bonus if you are already signed up for this sportsbook.

You will then need to make your first deposit. Then you can place your first wager at which point your risk-free bonus will be activated. This means that if you lose your wager you will receive your money back in the form of free bets.

Are risk-free bonuses legit?

Risk-free bonuses are legit if they are offered by licensed operators. Currently, the following legal online sportsbooks offer risk-free bonuses:

Which sportsbooks offer risk-free bets?

There are currently four major online sportsbooks that offer risk-free bets as a welcome promo:

Risk-Free Bets

Risk-free bets are the most common form of promo offered by US sportsbooks.

A risk-free bet ensures that you, as a new customer, will get your money back in the form of free bets should you lose your first wager.

This is a prevalent bonus because it offers insurance on your first wager, often the riskiest since you are new to a sportsbook and possibly new to betting in general.

To receive your risk-free bet, you must first sign-up to the sportsbook and place your first deposit. You will need to click on the claim button on our site or make sure you enter the correct promo code when signing up to receive your welcome offer.

Once you have made your first deposit, you can then place your first wager, which will activate the risk-free bonus.

    Risk free Bets Points Bet

    In contrast to other forms of new player bonuses, risk-free promos may result in your never actually receiving a free bet. This will be the case if you win with your risk-free, in which case it will be treated as a standard wager.

    However, you will have placed that bet safely in the knowledge that should you lose, all will not be lost. This can encourage you to be more confident than you usually would and possibly win more cash. In other words, it's still a kind of bonus even if you never actually receive a free bet.

    If you lose your risk-free bet then that's when the promotion really kicks in and you will be repaid in the form of free bets.

    It is important to remember that these free bets contain their own terms and conditions. You will normally have 7 days to use your free bets. There will also be minimum and maximum odds - although these are not usually that restrictive and are in place to avoid you placing a wager on a guaranteed win or winning so big you bankrupt the sportsbook!

    There will also be a turnover requirement placed on your risk-free bonus. This is the number of times you must win with your free bets before the money is officially yours (i.e. you can withdraw it as cash). Usually, you are only required to win once, but sometimes sportsbooks can place a higher requirement - we highly recommend you avoid turnover requirements higher than x1.

    An example of a risk-free bet
    Nils Edmondson

    Nils Edmondson

    Sportsbook X is offering new players a risk-free bet of a maximum of $500. There is also a minimum of $10 on your first wager. You must place a standard moneyline wager. There is a 1x turnover requirement.

    Step 1

    • You sign-up by clicking on the claim button and place your first deposit of $200.
    • This means that you will be placing a wager below the maximum $500, but above the $10 minimum, so your wager is valid.

    Step 2

    • You decide to place a moneyline wager on the match between the Cardinals and the Brewers.
    • The Cardinals have been given odds of -300 and are clear favourites. The Brewers have a moneyline of +150.
    • Since it is a risk-free bet, you place a $200 wager on the Brewers to win.
    • The Cardinals win, and you lose your bet.
    • You receive $200 in free bets within 24 hours of your loss.

    Step 3

    • You place your $200 in free bets on an NBA match between the Warriors and the Clippers.
    • The Warriors are the favorites at odds of -800.
    • You place your $200 free bets wager on the Warriors.
    • The Warriors win, and you receive $225.
    • This money is now yours to either withdraw or wager!

    Best Risk-Free Bonus

    Best Risk-Free Bonus

    2x risk free bets worth $2,000

    Largest maximum risk-free bet on offer in the US

    There isn't a larger risk-free bonus in the US right now. Of course, this does not mean that we recommend that you opt for $2,000 in risk-free wagers, but if you are a big spender, then this is the bonus for you.

    Two risk-free bets available

    Most sportsbooks currently don't allow more than one wager. This makes PointsBet's risk-free bonus a little bit better since it is split into two. You can place a fixed-odds risk-free bet of up to $500 and a points bet of up to $1,500. Points betting is the unique form of betting offered by the sportsbook and one reason it has seen such success in the US. It allows you to win or lose according to how right or wrong your wager is. You can click on the full PointsBet review to find out more.

    If you are new to points betting, then a risk-free wager is an excellent way to practice with the security of a free bets refund.

    Available in six states

    PointsBet has enjoyed incredible success in the US thanks to its popular points betting feature and world-class product. They are now operational in New Jersey, Indiana, Iowa, Michigan, Illinois and Colorado. You can sign-up to their sportsbook anywhere in the US, but you must be physically in these states to place a wager and deposit your funds.


    Jacob Ljungren

    Jacob Ljungren

    Bonus Hunter 🏹

    "This is, hands down, the best risk-free bonus on the market"

    Not only do you have two risk-free bets instead of one, but you also have a maximum of $2,000 which is higher than any other sportsbook at the time of writing.

    PointsBet is also a great sportsbook with an excellent product, high-value odds and lots of payment options.

    Unibet's $40 no-deposit bonus + $500 risk-free bet is still my favorite welcome offer, but PointsBet definitely wins the second spot.

    Related Articles

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    How to make a PointsBet Withdrawal

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    PointsBet is currently the darling of the US sports betting world and is now live in six states. But how do make a withdrawal from your PointsBet account to your bank account? We ... Read more

    Risk-Free Bets T&Cs

    There are several important factors to consider when sign-up for a new sportsbook and collecting your risk-free bet.

    You might think the most important factor is how much you can wager with your risk-free bet, but this is not necessarily the case. This will usually be well advertised and the first thing you spot. Instead, it is some of the terms included in the small print which can make all the difference.

    One of these is the minimum and maximum odds you are allowed to wager on. These restrictions are in place to protect the sportsbook from bonus hunters that will look to place a wager on a safe bet and then withdraw the winnings as cash or a wager that could potentially bankrupt a sportsbook. Considering this, these requirements are not usually restrictive. However, it is always important to check before you wager as you could accidentally miss the minimum or maximum and therefore wave goodbye to your risk-free bonus as a result.

    Another important term to consider is the type of bet you can place with the risk-free bet. Often a fixed-odds wager is the only form of bet you can place; however, there are exceptions such as PointsBet, which allows you to place a sizable points spread bet.

    Finally, but most importantly, you must check the turnover requirement. We do not recommend you place a risk-free wager with more than an x1 or x2 turnover requirement. If it is higher than this amount, it is simply encouraging you to bet more and more and not for the right reasons. Our team at BettingScanner are very experienced in the field, and we can say from experience that it is tough to keep track of how many times you have won with a single bonus, especially as a new customer.

    No Deposit Bonuses

    No Deposit-Bonuses are the darling of the sports betting industry.

    Finding a legit no-deposit bonus is like striking gold - valuable but rare!

    So, why are they so great? The main reason is you do not need to place any of your own cash, you simply sign-up to a sportsbook and away you go! You can really only win!

    We also see a no-deposit bonus as a good indication that a sportsbook believes in its product. You simply wouldn't give away a load of free bets to new customers without confidence that these customers are going to want to return and spend their own cash.

    Pros & Cons with No Deposit Bonuses
    Nils Edmondson

    Nils Edmondson

    No Deposit Bonuses- Pros 👍

    + You do not need to put down any of your own cash

    + A great way to get to know a new sportsbook without the risk of losing your money

    + Usually split into multiple bets

    No Deposit Bonuses - Cons 👎

    - Very few sportsbooks offer no deposit bonuses

    Deposit Bonuses

    Deposit bonuses are another popular form of new customer offers.

    A deposit bonus means you will receive free bets equal to your first deposit. There will, like all bonuses, be a maximum amount and a minimum (usually $10).

    Many new customers will compare the maximum deposit bonus when picking their sportsbook. However, just focusing on the maximum amount is wrong for two reasons.

    1. A larger bonus means a larger financial commitment. It is important to remember that your first deposit is matched to your bonus. This means that a $2,000 deposit bonus might sound great, but in reality, this means you will need to put down $2,000 of your own money!
    2. The T&Cs can mean that the smaller bonus is actually better value. Here we are mainly referring to the turnover requirement. This is the number of times you must win with the bonus before counting that money as real cash. If you have a turnover requirement that is over 2x, then we suggest considering another bonus. To put it another way, what are the chances that you will more than 3 bets in a row?
    Pros & Cons with Deposit Bonuses
    Nils Edmondson

    Nils Edmondson

    Deposit Bonuses - Pros 👍

    + There are some very large deposit bonuses currently on offer

    + Free bets are a great way to trial a sportsbook with reduced financial risk

    + Many reputable and legit sportsbooks currently offer deposit bonuses

    Deposit Bonuses - Cons 👎

    - You have to deposit a lot of your own cash to qualify for the larger bonuses

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