Risk Free Online Betting
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.
With a typical sports bet, you must risk your own money. Assuming you win, then you’ll receive a payout based on your odds.
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. 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. High-end online sports betting platform and interface 100% risk-free bet for new customers Professional customer service supported by live chat, phone and email.
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.
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:
- 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
A risk-free bet can be misleading. To newer online bettors, it may seem like the sportsbook is offering a completely free wager.
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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.
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.