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Online Gambling Sites > Best Betting Sites > Best Sportsbook Promo Codes > Ultimate Guide to Best Risk Free Bets 2024

Best Risk Free Bets for May: Our complete Guide to Risk Free Betting Offers and how to claim them!

Last Updated on 23/05/2024
Fact checked by: Heather Williams

Although there is no such thing as risk-free sports betting, online bookmaker free bets are as close as you can get. If you are unfamiliar, this latest guide should help highlight the various pros of using this bonus type.

As you read on, you’ll find out all there is to know about the sportsbook risk-free bet. We highlight what makes this a great bonus, why it is important to check the terms and conditions before redeeming a sportsbook free bet, and what the wagering requirements mean.

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Compare the Best Sportsbooks with Risk-Free Bets Offers this May

Order
Bonus Type
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Bet365
Recommended
Favicon
4.7/5
Requirements (WR): 1x Bonus
Min. Deposit: $10
Min. Odds: -500
Bet365 Bonus
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
Virginia
Players from Virginia accepted
T&Cs apply, 21+
Go to Bet365
Get bonus now
Payment Methods
Find out more on Bet365.
Withdrawal
0 – 10 Days
Apps
License
Virginia (US) Lottery Board
Award
EGR - Operator of the year (2017)
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
Show less
BetMGM
Hot Offer
Favicon
4.7/5
Requirements (WR): -
Min. Deposit: $10
Min. Odds: -
BetMGM Bonus
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Virginia
Players from Virginia accepted
T&Cs apply, 21+
Go to BetMGM
Get bonus now
Payment Methods
PayNearMe
Skrill
PayPal
+
Withdrawal
0 – 3 Days
Apps
License
Virginia (US) Lottery Board
Award
GGA - Digital Operator of the Year (2023)
Show less
FanDuel
Hot Offer
Favicon
4.6/5
Requirements (WR): 1x Deposit
Min. Deposit: $10
Min. Odds: -
FanDuel Bonus
Bet $5 Get $150 in Bonus Bets if your bet wins
Virginia
Players from Virginia accepted
T&Cs apply, 21+
Go to FanDuel
Get bonus now
Payment Methods
Prepaid Card
PayNearMe
PayPal
+
Withdrawal
1 – 10 Days
Apps
License
Virginia (US) Lottery Board
Award
Global Gaming Awards (2022)
Show less
Caesars
4.
Favicon
4.5/5
Requirements (WR): 1x Deposit
Min. Deposit: -
Min. Odds: -
Caesars Bonus
100% up to $1000
Virginia
Players from Virginia accepted
T&Cs apply, 21+
Copy
Get bonus now
Payment Methods
E-Check
PayNearMe
PayPal
+
Withdrawal
0 – 5 Days
Apps
License
Virginia (US) Lottery Board
Show More
DraftKings
5.
Favicon
4.5/5
Requirements (WR): 1x Bonus
Min. Deposit: $5
Min. Odds: -300
DraftKings Bonus
20% up to $1000
Virginia
Players from Virginia accepted
T&Cs apply, 21+
Go to DraftKings
Get bonus now
Payment Methods
PayPal
VIP Preferred
Play+
+
Withdrawal
0 – 5 Days
Apps
License
Virginia (US) Lottery Board
Award
EGR - Operator of the year (2023)
Show More
BetFanatics
6.
Favicon
4.5/5
Requirements (WR): -
Min. Deposit: -
Min. Odds: -
BetFanatics Bonus
Bet $100, Get $100 in Bonus Bets Every Day for 10 Days!
Virginia
Players from Virginia accepted
T&Cs apply, 21+
Go to BetFanatics
Get bonus now
Apps
License
Virginia (US) Lottery Board
Show More
BetRivers.com
7.
Favicon
4.5/5
Requirements (WR): 1x Bonus
Min. Deposit: $10
Min. Odds: -200
BetRivers.com Bonus
Second chance bet: Get up to $500 in Bonus Bets
Virginia
Players from Virginia accepted
T&Cs apply, 21+
Copy
Get bonus now
Payment Methods
PayNearMe
Bank Transfer
VIP Preferred
+
Withdrawal
0 – 3 Days
Apps
License
Virginia (US) Lottery Board
Show More

What is a sportsbook risk-free bet?

We start our guide to risk-free sports betting bonuses by explaining exactly what a risk-free bet is and how it works.

So what is a risk free bet? In short, a sportsbook risk-free bet allows you to place your wager and receive a little added insurance should the outcome not go your way.

Like many of the best sports betting offers, risk-free bets can be redeemed at any stage of the sports betting journey. You will find larger values presented as welcome bonuses and weekly risk-free bets that can be used on major sports.

Generally, a minimum deposit will be required to unlock the bonus. Plus, you may find that you are required to enter a promotional code, too. Once you have opted in and made your minimum qualifying deposit, you’ll be able to work your way around the sportsbook, select eligible markets, build your bet, and wait for the outcome.

If your wager proves unsuccessful, you will receive your initial stake back in its entirety. However, the returned funds will not be withdrawable and will need to be played through before being converted into a withdrawable balance. Should your wager win, you will receive your initial stake and winnings as normal.

What makes a great sportsbook free bet?

Now you know a little more about what a sportsbook risk-free bet is, it’s time to take a look at what separates the great bonuses from the good ones.

Eligible markets

To begin, we believe a great bonus is one that is accessible to all. So, it is unsurprising that the range of eligible sports and betting markets will feature in this list. For those of you with a specific niche, you’ll find that a risk-free bet available at the welcome stage is better suited to you. For those with a passion for all major sports, you’ll find plenty of options in the promotions section of your site, too.

Qualifying deposits

As with all sportsbook bonuses, minimum qualifying deposits will help to confirm how accessible the sportsbook risk-free bet truly is. Usually, you would expect to make a minimum deposit of between $5 and $20 - a value that is available to most. At the other end of the spectrum, you are likely to find risk-free bets that reach the dizzy heights of $1,000 and beyond. In turn, high-rollers are well catered for, too.

Minimum odds requirements

When making your way through the terms and conditions, you’ll want to pay close attention to the minimum odds requirements. As the odds reflect the outcome of the fixture, you’ll want to ensure that the requirements are fair and don’t require you to bet on unlikely outcomes. Here, you’ll also want to confirm the types of bets that can be placed and whether you can build parlays to reach the expected requirements.

Wagering requirements

Should your initial bet lose, you’ll receive your risk free bet bonus credits. It is common for these site credits to have playthrough requirements that must be reached before they can be considered for withdrawal. With this in mind, we suggest checking how many times you’ll need to play through your bonus credits before making use of the free bet bonus.

Expiration dates

For many, this may well be overlooked. However, understanding how long you have to make your way through any wagering requirements is an essential step to ensuring you get the most out of your experience. We would expect top online sportsbooks to be presenting a minimum of seven days to work through any requisites. However, depending on the value of your bonus, you could see anything from 24 hours to 30 days.

How to use a sportsbook risk-free bet for risk free sports betting

In this penultimate section of our guide to sportsbook risk-free bets, we offer up a quick step-by-step guide that will help you when it comes to redeeming your bonus.

  • Check out The Game Haus reviews: Our dedicated igaming platform is flooded with top online sportsbooks and bonus reviews. By utilizing our honest and authentic guides, you’ll be able to find a suitable operator and risk-free bonus that works for you.
  • Double-check the bonus terms: Although we attempt to keep our reviews as up-to-date as possible, terms and conditions are subject to change. We suggest making your way through the terms and conditions of your chosen sportsbook to confirm that you are still happy with what is on offer.
  • Register: Once confirmed, make your way over to the registration or sign up page and input your personal details. Here, you’ll also be required to enter any promotional codes and forward your proof of identity, too.
  • Make your qualifying deposit: After the verification checks have been completed, you’ll be able to make your way over to the cash section of the site and make your first qualifying deposit.
  • Scroll through the sportsbook: When the deposit has hit your account, you can make your way to the sportsbook and begin building your bets - taking the qualifying minimum odds into account.
  • Wait for the result: After successfully submitting your first wager, you can sit back and wait for the results to come in. Should you win, you can enjoy the victory and any winnings. Should you lose, you’ll receive site credits within 24-72 hours and be able to head back to the sportsbook and try again.

Things to consider before using risk-free bets for risk free sports betting

Before we leave you to make use of our bonus reviews, let us quickly run through a few key things to consider before using risk-free bets.

Knowledge

As risk-free bets can be obtained at almost every step of your online sports betting journey, it is important to understand your own sports knowledge before opting in. For example, those of you with a passion for the NBA will be best redeeming basketball-specific risk-free bonuses.

Activity level

Alongside your own knowledge, it is worth taking into account your own betting activity and financial position. Although some risk-free bets offer maximum limits of $1000 and above, that doesn’t mean that you need to put your capital at risk and make use of the full bonus. Instead, consider an amount you are happy to lose and are able to work through the playthrough requirements.

Support

Our final top tip links nicely to knowledge but is focused on the knowledge of your sportsbook agents. There is nothing worse than finding an issue with your risk-free betting bonus, so we advise finding an online sportsbook that has responsive customer support. Check out our on-site banners for some of the best sportsbooks today.

Head back to The Game Haus and pick up a sportsbook risk-free bet today

That concludes our latest guide to sportsbook risk-free bets. We hope that you are now in a better position to judge whether this is the right bonus option for you.

If so, make sure that you head back to The Game Haus. Our igaming platform is full of great sportsbook risk free bet bonus reviews for you to enjoy. Just remember to check out the eligible markets, minimum qualifying odds, and expiration dates before entering your promotional code and making any deposits.

Top bonuses for 2024

Bet365
1.
Favicon
4.7/5
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
Virginia
Players from Virginia accepted
Requirements (WR): 1x Bonus, Min. Deposit: $10
Go to Bet365
Get bonus now
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
BetMGM
2.
Favicon
4.7/5
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Virginia
Players from Virginia accepted
Min. Deposit: $10
Go to BetMGM
Get bonus now
T&Cs apply, 21+
FanDuel
3.
Favicon
4.6/5
Bet $5 Get $150 in Bonus Bets if your bet wins
Virginia
Players from Virginia accepted
Requirements (WR): 1x Deposit, Min. Deposit: $10
Go to FanDuel
Get bonus now
T&Cs apply, 21+
Caesars
4.
Favicon
4.5/5
100% up to $1000
Virginia
Players from Virginia accepted
Requirements (WR): 1x Deposit
Copy
Get bonus now
T&Cs apply, 21+
DraftKings
5.
Favicon
4.5/5
20% up to $1000
Virginia
Players from Virginia accepted
Requirements (WR): 1x Bonus, Min. Deposit: $5
Go to DraftKings
Get bonus now
T&Cs apply, 21+

Sportsbook risk-free bet FAQ

✔ What is a sportsbook risk-free bet?

Sports betting bonuses come in many shapes and sizes, allowing bettors to personalize their experience and select an option that suits their needs. In this latest guide to risk-free bets, you can find out all there is to know, including how to use them and what to look out for.

🌟How do I unlock a sportsbook risk-free bet?

As with all sports betting bonuses, a sportsbook risk-free bet will require you to meet certain requisites before it can be released and redeemed. In this latest guide to risk free bets, you’ll find out what makes a great sportsbook bonus and when to enter your promotional codes.

⚾ Can I withdraw my risk-free bets?

When it comes to withdrawing your risk-free bets, you’ll need to make sure you have met any requirements. It is common for any losing bets to be returned to you as site credits. So, you’ll have to make use of our dedicated bonus reviews to find out how and when operators allow you to withdraw your bonus.

Top Betting Sites
Bet365
Bet365
Bet365 Review
4.7/5
BetMGM
BetMGM
BetMGM Review
4.7/5
FanDuel
FanDuel
FanDuel Review
4.6/5
Caesars
Caesars
Caesars Review
4.5/5
DraftKings
DraftKings
DraftKings Review
4.5/5
Top Betting Bonuses
Bet365
Bet365 Bonus
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
T&Cs apply
4.7/5
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
BetMGM
BetMGM Bonus
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
T&Cs apply
4.7/5
FanDuel
FanDuel Bonus
Bet $5 Get $150 in Bonus Bets if your bet wins
T&Cs apply
4.6/5
Caesars
Caesars Bonus
100% up to $1000
T&Cs apply
4.5/5
DraftKings
DraftKings Bonus
20% up to $1000
T&Cs apply
4.5/5
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Our Sports Pros recommend these awesome sports betting sites this week:
BetMGM
BetMGM Bonus
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
T&Cs apply, 21+
Promo Code:
Go to BetMGM
Get Bonus
FanDuel
FanDuel Bonus
Bet $5 Get $150 in Bonus Bets if your bet wins
T&Cs apply, 21+
Promo Code:
Go to FanDuel
Get Bonus
Bet365
Bet365 Bonus
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
T&Cs apply, 21+
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
Promo Code:
Go to Bet365
Go to Bet365
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