What Are Risk-Free Bets and How Do They Work?

What Does Risk-Free Bet Mean?

A risk-free bet is a promotion many sportsbooks offer, which will repay bettors after they lose a wager. This has limitations and conditions. But if you want to improve your sports bets, you must learn how to avail yourself of every promotion, including risk-free betting. Books like BetUS offer risk-free bets. You can claim here a 100% sports bonus & risk-free bet.

So, how does risk-free betting work? Depending on the sportsbook, bettors can receive a “refund” up to a certain amount (e.g., $1,000) after they lose a wager. These tend to be provided for new players and have plenty of limitations.

For example, you sign up and get a risk-free wager of up to $1,000. You wager $500 on Manchester United to beat Manchester City. United loses. Per the risk-free bet, the book should provide $1,000 back to your account. However, if United does beat City, you will win the profit, but the risk-free wager will not be returned like a standard bet.

What is a “No-Sweat Bet”?

Risk-free bets can also be known as “no-sweat bets.” This is another term some books use, but they offer almost the same mechanics as risk-free betting. A no-sweat bet means you can wager up to a certain amount and have it returned should it lose. How the book returns it is part of the terms and conditions you sign.

Some books will return your bet in the form of betting credits, while some will deposit money back into your account. Like risk-free bets, no-sweat bets can only be used once, and it’s advisable to use them online at even odds (+100) or longer.

Like advantage gambling in sports betting, we can use a risk-free betting strategy to maximize our online wagering.

Is Risk-Free Really Risk-Free?

This is the million-dollar question. We say “yes” and “no” to this question, as we’ll elucidate here. Firstly, it is risk-free if we’re talking about getting your money back. If you wager $1,000 and it loses, no sweat. The book will give you the $1,000 back. But if you win, you don’t get the risk-free wager back.

As our moneyline betting guide discusses, wagering on odds shorter than even odds (-101 downwards) comes at a price. This is because we are paying “vig” or “juice.”

For instance, if you wager $100 on a -110 line, you get $90.91 back. That means you don’t get a 1/1 return on an otherwise 50/50 bet. So, while you did not technically lose money, you could get a better bang for your risk-free bet if you play lines at +100 or longer.

In another example, you used a $100 risk-free bet on a line of +200. The team you bet on wins, so the book will pay the $200. Even if you did not get your stake back, you did not pay vig/juice. Using your risk-free bets on odds like this and even on large parlays is better. For instance, you can learn more about the best parlay strategies and use your risk-free wager as a “trial” bet.

One last nuance is to understand the restrictions of your risk-free bet. These promos have an expiry date (or time limit) and an odds restriction.

Using a risk-free bet on a futures bet where you have to wait months for a payout is not the best risk-free betting strategy, and neither is wagering on odds not covered by the risk-free promo. Some books will not cover your risk-free if the odds are upwards of +1000 or longer, for instance.

Ultimately, you must learn the best way to use your risk-free bet. It’s not unlike mastering moneyline wagers. Once you’ve learned all the details, there is an ideal time to use it.