Risk Free Bets

Author: Steven D. Thompson

Updated: 20/11/2024 11:20 AM

Bettors looking to minimise their exposure will love the safety net risk-free bets provide. When you activate a risk-free bet promo, you get your money back when your qualifying bet loses. If that wager wins, you get to withdraw your winnings as you normally do. So, it is easy to see why sports bettors are always on the lookout for jeopardy-reducing risk-free bet offers. Keep reading to learn more about these bonuses and how to use them to your advantage.

Table of Contents

What is a Risk-Free Bet

When you trigger risk-free bets, you get a fall-back option in case your sports bets don't go as planned. With a risk-free bet, you get your bet stake back, usually in the form of free bet credits, when your original wager loses. If your bet wins, you can withdraw your winnings, and the promo will go unused.

For instance, if you have activated a risk-free bet offer by placing a €50 qualifying bet on the La Liga match between Real Madrid and Barcelona, backing Barcelona to win. Unfortunately, Barcelona lost that match. However, because you claimed a risk-free bet promo, you didn't quite lose your bet. Instead, the bookmaker returned your €50 bet stake but in the form of free bet credits. You can now use that €50 free bet to wager on your favourite sports again and hope you get a better outcome.

Let's now say that your friend activated the same risk-free bet promo, but backed Real Madrid to win with the same bet stake of €50. Because Real Madrid won the match, the risk-free promo went unused and your friend was able to withdraw his winnings. Unfortunately, because the risk-free bet offer was used on a winning bet, your friend won't get the chance to feel its benefits, as once used, it cannot be utilised again. However, the prospect of winning money on any bet is always more enticing than getting the consolation prize of the returned bet stake.

Key Facts About Risk Free Bets

Risk-free bet bonuses are some of the most enticing in the online sports betting industry. So, it is not surprising that punters are looking for the best risk-free bet promotions. Our key facts about risk-free bets will help you learn more about them and allow you to locate great value promos and make better decisions.

You get your losing bet stake back when you activate a risk-free bet offer.
The losing bet stake is usually returned in the form of free bets.
Risk-free bets can be both new and existing customer offers.
Risk-free bets can be used on single bets and accumulators.
System bets usually won't qualify for a risk-free bet offer.
Risk-free bets are usually in the format of - Bet €10 and Get €10 Back if your bet loses.
If your bet wins, you will get your winnings and the promo won't be used.
The free bet amount credited as part of risk-free bet promotions may need to be wagered several times.

Risk Free Bets Pros & Cons

Modern bettors have a wide range of sports wagering tools in their inventories, from enticing betting offers to special features. Risk-free bets are among the most useful sportsbook promotions, so it is to be expected that punters want to find risk-free bet offers with favourable conditions. That said, there are a few minor drawbacks to using risk-free bets at online betting sites. Let's look at the pros and cons of risk-free wagers.

Pros

Get a refund if your qualifying bet loses
You get to keep your winnings if your bet wins
Both single and combo wagers are usually eligible for risk-free bets
Place riskier wagers knowing you can get a free bet refund
Explore various strategies, such as matched betting
Both new and existing customers can get risk-free bet offers

Cons

The refund is usually in the form of free bets and not money
You may need to meet wagering requirements on the free bet amount
You usually won't get your bet stake back if you place system bets
If your bet wins, your risk-free bet promo is wasted as it goes unused

Types of Risk Free Bets

Risk-free bets are usually pretty similar in terms of what they offer and how they work. However, they can be classified into several different types depending on when they can be used, on what types of bets, and which bettors can benefit from them. These are the most common risk-free bet types you will encounter.

New Customer Risk-Free Bets

Many online sportsbooks will allow you to benefit from risk-free bets when you join them and make your first deposit. These risk-free bets are given as sign-up offers and only new customers can get them. For instance, an new online betting site may allow you to get a €50 risk-free bet when you create a betting account and make a qualifying deposit of €50. If your bet wins, you will be able to get your winnings. If it loses, on the other hand, you will be able to get your bet stake back as free bet credits.

Risk-Free Bets for Existing Customers

You can also claim risk-free bets when you become an existing customer. These risk-free bet offers may be given as part of loyalty programs, with the bookmaker giving you the chance to get a risk-free bet offer when you reach a particular loyalty program milestone. They may also come in the form of reload bonuses. In that case, the betting site might give you a risk-free bet when you make a qualifying deposit and place a qualifying bet during a promotional period, such as the weekend, festive times of the year, or during special sporting events and competitions.

Single Bet Risk-Free Wagers

As the name implies, you can use risk-free bet offers on single bets. That means you only need to bet on a single event and a single market to qualify for this bonus. For instance, a bookmaker may give you the chance to use a risk-free bet on single events from the English Premier League. So, you can bet on individual EPL matches and get a free bet refund if your single bet risk-free wagers lose.

Accumulator Risk-Free Bets

Sports betting sites will most often allow you to use risk-free bets on accumulator bets. In other words, you will be able to get your bet stake back if one or more selections in your combo bets let you down. For example, you can compile a three-leg accumulator wager backing Stefanos Tsitsipas to win, the LA Lakers to score Over 105.5 points, and Chelsea to beat Arsenal. Even if all selections in your accumulator bet let you down, you will get your bet stake back in the form of free bet credits if you activate a risk-free bet offer.

How to Find the Best Risk Free Bets Offers?

Not all risk-free bet offers are worth your time and money. Some are better left ignored. To find the best risk-free bets, you need to know where to look and which factors to focus on. Here's what you need to do to locate bettor-friendly risk-free bets that offer great value to punters.

Step 1

Scan Betpack for Generous Sports Betting Sites

Start your risk-free bet search by going through the list of trusted online bookmakers we feature at Betpack and narrowing down your options to the most generous online sportsbooks. These bookmakers are most likely to offer risk-free bets. Reading our betting site reviews will help a lot in this regard, as we cover all the promotions of our listed bookmakers.

Step 2

Check for Risk-Free Bets

Next, determine if the bookmakers you shortlisted have risk-free bet offers. Once again, this is something that can be quite difficult to do alone, so it might be best to go with the top risk-free betting sites we have suggested here. These bookies are renowned for offering both free bets and risk-free wagers, so you will waste no time in finding the best risk-free bet promos.

Step 3

Consider the Maximum Free Bet Limit

Some free bet promos will refund bonus bets that match your qualifying wager. Unfortunately, others will only give you a free bet refund up to a predetermined amount. So, before you join a sports betting site and opt in for a risk-free bet promotion, make sure it will refund the entire bet stake amount in case your qualifying bet loses.

Step 4

Analyse Wagering Requirements

The last thing you want to check is whether the wagering requirements of the bonus bet refund are reasonable are too steep. If the bookie returns your losing bet stake but puts 10x wagering on the free bet amount, that is obviously an offer you should avoid. Our advice is to only activate risk-free bets that come with no or minimal wagering requirements.

Top 5 Bookmakers with Risk Free Bets

Bookmaker	Offer
CBet	Get Up to €200 Free Bet If Your First Sport Bet Loses
Mozzart	Bet Without Risk - Get Up to €40 Free Bet if Your First Bet Loses
CryptoLeo	IIHF No Risk Bet Up to €/$30
Winz.io	Risk-Free Bet Bonus Up to $20
Lunubet	100% Risk-Free Bet Up to €50

What to Look for When Claiming Risk Free Bets?

When you are wagering on sports, proven tips, strategies and betting guides can dramatically improve your chances of winning. The same goes for sportsbook bonuses and promotions. So, before you claim a risk-free bonus bet, check if it meets some key requirements. Like any sportsbook bonus, risk-free wagers are only as good as the work you put in to find them. These are some tips to help you locate bettor-friendly risk-free bonus offers:

Eligible sports and markets - Only trigger a promo if you can use it on the sports and betting markets you usually wager on.
New or existing customers - A risk-free bet offer is usually available to either new or existing customers, so always check whether you qualify for a particular offer.
Minimum odds and selections - Make sure you are okay with the minimum number of selections you need to include in your bet and the minimum odds stipulated.
Betting restrictions - Determine if the free bet refund has steep wagering requirements, whether there are excluded betting payment methods, and what is the expiration date of the promo.

By carefully analysing these factors, you will be able to make an informed decision and find the right risk-free bet promo for you and your sports betting style.

Risk Free Bets Terms and Conditions Explained

An online sportsbook may offer enticing risk-free bets, but if those promos come with unfavourable terms and conditions, you will get neither your free bets nor the bonus credits that you are counting on. And that would make the bet as risky as any other wager. So, there won't be much use of the risk-free bet. To prevent that from happening to you, always read the fine print and familiarise yourself with these key terms and conditions.

Minimum Deposit

Number of Selections

Minimum Odds

Wagering Requirements

Bonus Expiration Date

Most online betting sites will require that you make a minimum deposit to trigger a risk-free bet offer. For instance, if the bookmaker stipulates that you must deposit €20 to get a €20 free wager in case your initial bet loses, a deposit lower than €20 won't activate the bonus.

Risk Free Bets vs Deposit Bonus Offers

Choosing between different betting offers can be a crucial decision for any bettor looking to maximise their returns while minimising risk. Two popular options in sports betting are Risk-Free Bets and Deposit Bonus Offers. Both come with their own set of advantages and drawbacks. In this comparison, we'll explore the key features of each option, allowing you to determine which one aligns best with your betting strategy and preferences.

Risk Free Bets
You get your bet stake back if your initial wager loses.
Can be slightly hard to find.
The bookie matches your losing bet amount.
Bonus bet refunds often come with wagering requirements.
Usually, only one bet can be placed when claiming risk-free betting offers.
Sport and market restrictions may apply.

Deposit Bonuses
You don't get any reimbursement when your bets are unsuccessful.
Most online sports betting sites offer deposit bonuses.
The online sportsbook matches your deposit.
Almost all deposit match bonuses have wagering conditions.
You can place multiple bets.
Deposit bonus funds can usually be used to bet on a wide range of betting options.

Best Risk Free Betting Sites by Category

Punters who claim risk-free bets meticulously think through all their decisions. They want to minimize the risk of losing and reduce their exposure. However, they also want to get the most value and the best sports betting experience. For these bettors, we have compiled our list of the best betting sites in several important categories that matter to sports wagering enthusiasts. The bookies listed below have enticing risk-free bets but are also great at other things they do.

Bookmaker	Feature
Mozzart	Best Betting Site for Football
Lunubet	Best Crypto Betting Site
Winz.io	Best Live Betting Options
CBet	Best Customer Support Betting Site

Conclusion

Risk-free bets allow you to completely or partially eliminate the prospect of a losing bet for a particular sports wager. If that initial wager loses, you get your money back in the form of bonus bets. On the other hand, if that bet wins, you will withdraw your sports betting windfall as you usually do. So, there is a lot to like about these sportsbook promos.

However, to make the most of risk-free wagers, you need to read the fine print and go for bonuses that are easy to trigger and come with favourable terms and conditions. At Betpack, we analyse online bookmakers with risk-free bets in detail and list betting sites with the most bettor-friendly promos, markets, and wagering features. So, if you are looking to minimize your exposure while boosting your bets, check out the expert-vetted online sportsbooks we feature at Betpack.

Frequently Asked Questions

How Do Risk-Free Bets Work?

Risk-free bets are sportsbook bonuses that allow you to get your money back if your qualifying bet loses. The bookmaker will refund your losing bet stake with a free bet that you can use to place a new sports wager.

How Can I Reduce the Risk When Betting on Sports Using Risk-Free Bets?

Risk-free wagers allow you to eliminate the risk of losing a particular bet, as the bookmaker will return your losing bet stake. However, you can also use these promos for matched betting purposes i.e. bet on both outcomes in two-way markets while triggering the risk-free bet promo for one of them. That way, whatever the outcome, you will get something out of your bet.

What Will Happen if My Risk-Free Bet Wins?

If your risk-free wager wins, you can collect your winnings. That means the promotion won't be activated, but you also won't be able to use it again for a different bet.

What Happens if My Risk-Free Bet Loses?

If the qualifying wager in your risk-free bet promo loses, you will get your bet stake, or part of it, back in the form of free bet credits.

How Can I Use Risk-Free Bets for Matched Betting?

You can use a risk-free bet promo to place a matched bet. To do this, first, opt in for the offer. Then place a qualifying bet on one of the outcomes of an even odds 2-way market. Next, use your own money to back the other outcome. Now, if the first bet loses, you will get a refund, plus the winnings from the second bet. If the first bet wins, on the other hand, you will collect your winnings and cover any losses you would have otherwise made.