One of the best ways to begin your sports betting career with a sportsbook is with a risk-free bet promotion. Online sportsbooks must be inventive to draw new clients in order to stay competitive as the popularity of online sports betting increases significantly throughout the US.
Risk-free betting options have been a major addition to sportsbooks in the past few years. A risk-free bet allows users to join in on the fun without spending any of their own money. With $1,000 risk-free bets, bettors have the chance to make some serious money on their wagers.
With online sports betting becoming extremely popular in the past few years, sportsbooks are now offering new users and sometimes existing users risk-free bets.
Although they are useful for you to make money and come in a variety of formats, online risk-free bets provided by licensed sportsbooks are not always completely risk-free. Many offers will likely be marked with the general phrase “risk-free,” but some are preferable to others. Usually, how a losing wager will be reimbursed will determine this. A risk-free bet may also be advertised as something else, such as a “free bet when you join” or a “totally free bet.”
Best $1,000 Risk-Free Bet Offers
Let’s take a look below at some of the best risk-free betting options from multiple different sportsbooks. Some sportsbooks will have risk-free bets below $1,000, but all of the sportsbooks that we will cover all have $1000-plus risk-free bets.
DraftKings, BetMGM, FanDuel, Barstool, and Caesars all have $1,000 risk-free bets for their new USA customers.
DraftKings – $1,000 Risk Free Bet Match
One of the main reasons DraftKings is one of the most well-known sportsbooks in the world is due to their welcome bonuses.
Only new clients and those who are at least 21 years old are eligible for the offer. To be eligible, you must also reside in one of the following states: Wyoming, Arizona, Colorado, Indiana, Iowa, Mississippi, Nevada, New Jersey, Tennessee, Virginia, or West Virginia.
Right now, DraftKings will boost your deposit by 20% up to $1,000. It’s not the best offer around, but it is a deposit match – which means players get to keep both their initial deposit and the free bet bonus.
DraftKings has been known mostly for their daily fantasy games, but they aren’t a sportsbook that only offers that.
There are numerous ways for users to fund their DraftKings Sportsbook accounts. The app provides spread, moneyline, total, prop, parlay, and other types of betting. The more unusual alternatives offered by DraftKings, including cash outs, live betting, and sportsbook pools, are also available. With the first two modes, players can experience the game in real-time, while with the third, they can engage in leaderboard-style competitions with other players.
Claim your risk-free bet here.
BetMGM – $1,000 Risk Free Bets
A fantastic bonus for free bets that not all sportsbooks have is offered by BetMGM. Many sites won’t let you wager on a game with odds less than -200, but BetMGM does. You get your money back in the form of free bets if you place a wager and it loses, and you also get another chance to place a winning bet.
Users in New Jersey, Arizona, Colorado, Iowa, Illinois, Louisiana, Mississippi, Michigan, New York, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming are eligible for the promotion.
New users are welcomed with a risk-free first wager of up to $1,000 when they use the BetMGM bonus code “GAMBLEUSA.” Customers earn free bets up to $1,000 in free bets if their first wager loses, up to and including the amount risked. Once the wager is settled, the free bets will become available.
If you gamble the maximum amount, you’ll receive five $200 free bets. If you wager less than $50, you’ll receive one free bet equal to your initial wager. The free bet(s) are valid for seven days and cannot be redeemed for cash.
With several odds boosts, BetMGM Sportsbook offers a ton of helpful bonuses that will improve the value of your wager. Additionally, you can watch live streaming of a few events to follow your wager in real time.
Claim your risk-free bet from BetMGM here.
FanDuel – $1,000 Risk Free Bet Insurance
The most well-known sportsbook in the US right now may very well be FanDuel, and for good reason.
Users in Arizona, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming are eligible for the promotion.
With your first deposit after signing up, you’ll be qualified for the no-hassle first bet. Only new users of the FanDuel Sportsbook are eligible for this promotion. If your first wager is unsuccessful, you will receive a refund in FanDuel Sportsbook free bets up to a maximum of $1,000. After you receive the free bets, they expire after 14 days. You will successfully receive your winnings if you win.
To place the promotional wager, you must use your own funds, and this will influence your deposit choice. Your initial wager will be completely insured, so if you lose, you will receive a refund. You start over with nothing lost because it arrives in the form of site credit.
If you fall short, that arrangement is great, but that is not the intended outcome. There is no need to start over if you win your wager. Your account will receive a cash deposit of both your earnings and your initial wager. You are free to start a complete or partial withdrawal at any time.
One can place a risk-free wager of up to $1,000 at FanDuel Sportsbook. You will receive a site credit refund if your wager loses. Although site credit cannot be withdrawn, any gains from bets placed with site credit can be taken out right away. Your site credit must be used within 14 days.
FanDuel offers more betting possibilities than the majority of sportsbooks, and users can easily use the app layout. The site stands out from its rivals thanks to the wide variety of player props available.
You can claim the offer here.
Barstool – $1,000 Risk Free Bet
Barstool Sportsbook is one of the up-and-coming sportsbooks in the United States.
Without the need of a promotional code, new customers who sign up for an account at Barstool Sportsbook will receive a $1,000 risk-free first wager. Losing bets will be repaid in site credit up to $1,000 when using this offer on any game of the user’s choosing. The user’s first bet is backed by up to $1,000 in site credit as part of our risk-free first bet promotion. This site credit may then be spent on any game, team, or player prop.
Barstool Sportsbook is currently in Pennsylvania, Illinois, Indiana, Michigan, Colorado, Virginia, New Jersey, Tennessee, Arizona, Louisiana, Iowa, and West Virginia. The risk-free option is available to users in each of those states.
Barstool Sportsbook is among the best since you get your original stake back.
Your first wager following your initial deposit is risk-free up to $1,000. For instance, if you don’t want things to grow too hot, you deposit $500 rather than $1,000. After placing $500 on a wager with a -110 chance of winning, you now have $954.55 in cash on hand. the initial $500 that you deposited, wagered, and won, plus the additional $454.55.
Claim your free risk-free bet from Barstool Sportsbook here.
Caesars – First bet on Caesars up to $1,250
Because of the $1,500 risk-free bet, new bettors are finding their way to Caesars Sportsbook.
You need to be a new user who is at least 21 years old and resides in one of the following states: Arizona, Colorado, Iowa, Indiana, Louisiana, Michigan, New Jersey, New York, Tennessee, Virginia, or West Virginia.
With the code MUBFULL, you may sign up, make a deposit, and receive up to a $1,250 free bet on Caesars. Users will receive a single free bet credit that can be redeemed within 14 days if their wager is unsuccessful.
With live in-game odds updates, Caesars Sportsbook also enables you to place wagers on your preferred sports in real time. When it comes to professional sports, Caesars Sportsbook enables you to place a risk-free bet on live-updated totals or even the result of the following at-bat.
Claim your risk-free bet from Caesars here.
What is a Risk-Free Bet?
A risk-free wager is one in which, even if you lose, you still receive a payout. This can be a free bet or a site credit.
The best risk-free bet offers are those that include site credit or cash because the user keeps both their initial investment and any winning bets.
The free bet will often be given out as only a bet. In this case, the book will bet you your loss amount and you’ll utilize it to place another wager, or series of bets. Since the wager was against the house, you didn’t actually lose any money if you were to lose.
Having a clear understanding of how you can use your return is crucial. You usually have a lot of freedom on a book that gives site credit. You’ll likely have complete discretion over how you stake the money. On occasion, sportsbooks will give out free bets in smaller amounts. In order to do this, BetMGM offers players five free bets, each worth 20% of their initial unsuccessful wager.
Ideally, you should only wager up to the amount that the book is willing to repay. If a promotion says “Risk-Free Bet Up To $1,000,” wager $1,000 if you have the money to do so.
Although a betting app rarely limits the kind of wagers you can place, it is absolutely something to be aware of.
When you make your first deposit for sign-up bonuses, the timer begins to run. You will eventually be ineligible to obtain a free bet, whether it be after 30 days or three. The free bet often has its own expiration date, even if you are able to place a qualifying wager in time.
In summary, risk-free bet incentives are typically included in welcome packages. Beyond that, you won’t see them very often, and if you do, the financial restrictions will be a lot smaller, either as part of a sportsbook’s ongoing promotion schedule or as a one-time deal.
How do $1,000 Risk-Free Bets Work?
Users may easily understand risk-free investments. If you lose the first real-money qualifying wager you place, your sportsbook will reimburse the bet up to a predetermined dollar amount as part of a risk-free bet offer.
Risk-free bets are specials where the sportsbook will pay you back if your wager is unsuccessful. In some cases, the refund takes the form of site credit, but more frequently, it takes the form of a free bet, in which case you just get the profits and not the stake back.
When making your first risk-free wager, exercise caution because different sites have different requirements. Some just pay out profits, not the amount you also bet.
Pros and Cons of Risk-Free Bets
Risk-free wagers include a number of pros and cons. The most obvious benefit is that, even if you lose, you’ll still have a chance to win big thanks to the bonus.
It lowers the risk, enabling you to test a novel wager—possibly a strong underdog with +200 odds. Instead of initially attempting to win lesser bets, it’s a simpler approach to increase your bankroll.
There is no better way to pass the time for a serious gamer and sports fan than to bet on your favorite team. The joy of actually winning a wager and knowing that you put your eggs in the appropriate basket is another perk.
Because they lacked the knowledge or self-control to gamble sensibly, some people have lost all of their life savings by placing sports bets with money they don’t have. Free sports betting gives you the opportunity to study and acquire expertise in mobile betting without having to risk any real money.
You may test out various sportsbooks without spending a thing with free sports betting. This presents you with the chance to select a betting app based on your personal experience rather than the claims they make in their ads.
There are cons to risk-free betting as well. At the end of the day, sports betting is never simple, and there is always a risk involved. Another drawback is the possibility that you won’t receive a bonus for your initial wager winnings.
While winning with free bets is entertaining, you must place additional wagers with real money if you want to view your earnings. The majority of the time, betting apps demand that you place at least four more wagers before allowing you to withdraw your promo cash winnings.
We can’t stress enough about not spending money that you can’t lose.
Risk-Free Betting Offers Terms and Conditions
Before depositing any funds, it is essential to comprehend the terms and conditions associated with your risk-free bet bonus. Sportsbooks will have their own unique terms, but common bonus conditions to be aware of include odds restrictions, rollover requirements, and time limits.
As a result, customers can occasionally be unable to wager on moneylines greater than -200. One can play the following values: -150, -160, -170, -180, -190, and -200, but not -210.
Time constraints are another issue with which to exercise caution. Make sure not to play the bonus if you haven’t had any enjoyable games or events in a few weeks. Find a game you like and stick with it if you only have 14 days to spend the bonus.
The majority of sportsbooks frequently have rollover requirements. This means that if a customer wins using their $1,000 risk-free bet, they must wager their earnings a certain number of times before they can cash them out.
It is crucial to comprehend how your sportsbook handles payouts on bonus bets or site credit when thinking about risk-free bet promotions. The bonus bet’s earnings are often the only ones that are credited back to your account. The bonus bet stake, which will be equal to the sum you first staked with your own money, will not be refunded to you.
Strategies with $1,000 Risk-Free Bets
A few people have placed bets on the opposing team at different sportsbooks in the past, and it has worked out well for them. In a way, it’s similar to hedging your bet, so you can be sure to earn.
As part of your risk-free bet, let’s say you wish to place a $1,000 betting on the Texas Longhorns to defeat the Alabama Crimson Tides at -110 odds. You discover another book in the meanwhile and place a $1,000 wager on the Crimson Tide at the same odds.
In either case, you win $909.09 on one wager and lose $1,000 on another, but you would prefer to lose your risk-free wager because it would earn you a bonus wager or site credit that will let you win more later on.
Technically, risk-free bets have the maximum expected value when placed on uncertain results. You can place your risk-free wager on a long shot since you are confident that you will at least receive a free bet if you lose.
Since you can only receive the profit from the free bet and not the amount risked, you should also place the subsequent free bet on a long shot even if you lose and receive it.
The safest approach to use your risk-free bets, other than hedging, is to simply wager on the favorite. In other words, you will approach your risk-free bet similarly to any other wager while also having a backup plan in case it loses. Doing your study on the team you believe will win is always a good idea because betting on the favorite isn’t always profitable.
If you do lose, keep in mind that placing the subsequent free bet on a favorite will result in you losing money overall as you will only gain the possible profit from the free bet and not the stake.
There are plenty of strategies that you can work with, but make sure to do your research and continue with whatever is working for you to have a better chance of making a profit.
If you had an infinite bankroll, you should use it to bet the most you could without taking any risks on the underdog.
Mathematically speaking, you receive a free bet if you utilize your risk-free wager to bet on an underdog who loses. However, you will receive a substantial payout if the underdog triumphs. Since you only receive the free bet’s profit and not the original stake, you should use the free bet on an underdog once more.
Legal States with Risk-Free Bet Offers
Currently in the United States, Nevada, Delaware, New Jersey, West Virginia, Pennsylvania, New Hampshire, Rhode Island, Arkansas, Iowa, Indiana, Montana, Illinois, Michigan, Tennessee, Colorado, North Carolina, and Mississippi have passed legislation allowing betting operators and are accepting fully legal sports wagers.
Remember, each state has different laws in terms of sports betting and although it might be legal in your state, the sportsbook that you’re looking for might not be available yet in your state. The five betting apps with $1,000 risk-free bets listed above are the most widely accessible in the US.
How to Claim a $1,000 Risk-Free Bet
Claiming a $1,00 risk-free bet has never been easier.
You can typically find all of these at new risk-free bets and promotions from the website or app that you’re using on your device. This means that a screen will pop up with the new offer for new users and tell you exactly what you need to do to claim it.
Most of the time, you’re going to have to be brand new users and you’re going to have to deposit a certain amount of money for them to get the risk-free bet.
You can click on the page links to signup on one of the $1,000 risk-free betting apps and you will receive the bonus after your first real money wager. If a bonus code is needed, our banners will highlight it.