Risk Free Bets

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.

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.

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.

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.