Some sportsbooks offer exclusive promotions available only with the promo code. Check out the following promo codes to get special deals upon opening an account.
| Sportsbook | States Available | Risk-Free Promo Offer | Risk-Free Bet Promo Code |
|---|
| FanDuel | NJ, PA, WV, IN, IA, CO | $1000 Risk-Free Bet | BESTPROMOCODE |
What Is a Risk Free Bet?
A “risk-free bet” is a term referring to an offer given by a sportsbook in which the risk on your first bet is minimized so that it is impossible for you to lose money when you lose the bet.
Risk-free bet promotions are the latest fad in an industry that has popped up overnight. With more and more states legalizing sports betting every year the competition to sign up as many new customers is on.
This means that the sportsbooks are fighting for you to choose them over the competition. This competition is excellent for the consumer since sportsbooks are giving out newer, bigger, and better offers to attract your attention. Que in the risk-free bets!
How to Place a Risk Free Bet
To go into detail of how to place a risk-free bet here is a step by step of how it works:
You open an account with BigWins Sportsbook (fake sportsbook) because you saw that they are offering risk-free bets.
Next, you must deposit money so that you can have funds to bet with. Keep in mind that many sportsbook’s risk-free bonuses are not without some conditions. For example, many sportsbooks have a minimum first bet so you may end up having to bet a minimum of say $150 to activate your risk-free bet. Let’s say you upload $300 to start out with. So now you have $300 with which to place bets.
For your first bet you decide that the Dolphins are going to be the Patriots at the next Super Bowl so you bet $300 on that happening.
The Super Bowl happens but the Dolphins lose and you lose your $300 too, but not with risk-free betting! BigWins sees that you’ve lost your risk free bet and so they award you with $300 in credits to the sportsbook.
You can now use your $300 worth of credits to bet with.
If on the other hand the Dolphins actually won the Super Bowl then you would just collect your winnings as usual and your risk-free bet did not have to kick in since it wasn’t necessary.
Risk-free betting is an awesome way to get into sports betting for people who are nervous about putting real money wagers down for the first time or for those who are interested in sports betting but scared that they may make the wrong choice. In either case, you essentially are being offered a free bet that can’t lose.
What Happens If I Win a Risk Free Bet?
If you win your risk-free bet then you collect your winnings and move on! A risk-free bet is there as a safety net in case you lose.
It is kind of like car insurance (except it is free!), if you don’t wreck your car then there is no problem but if you do wreck your car then you’re likely to be very happy that you had the insurance to cover the damage.
Can You Win Money on Risk Free Bets?
The short answer is Yes. Risk-free bets are real bets with real money on the line. The only difference is that if you lose your bet then you don’t lose your money and you are allowed to wager it once more on the platform.
Some restrictions apply depending on your sportsbook. A common restriction is a time limit imposed on your risk-free bet.
If you lose your wager on a risk-free bet then the money that you lost will be credited back to your account but with a time limit. Time limits can be as short as less than a day or as long as 72 hours. It helps here to be aware of what your restrictions are!
Super Bowl Free Bets
The Super Bowl is the single biggest sporting event of the year with betting at last year’s Super Bowl reaching an estimated $6.8billion! Even people who do not typically participate in sports betting sometimes make an exception for the Super Bowl.
With so many first time bettors getting a piece of the action there is fierce competition going on parallel to the action on the field, and that is between the sportsbooks trying to get you to sign up with them.
Sportsbooks compete with each other by offering promos. Here is a shortlist of the promos we’ve seen in the past and the ones that are likely to return for this year’s Super Bowl.
Here are some Super Bowl promos we’ve seen in the past from major sportsbooks that will likely happen again.
DraftKings Sportsbook Super Bowl Jackpot
DraftKings is the 800lbs Gorilla in the room when it comes to sportsbooks so it makes sense that they would be the ones to roll out the red carpet for Super Bowl free bets and in Super Bowl LIV they outdid themselves with a massive $200,000 jackpot.
Every $10 bet on the Super Bowl granted you a ticket to the $200,000 Super Bowl jackpot. The drawing took place on Feb, 5th and needless to say it was watched by many people.
Other promotions for the Super Bowl by DraftKings included a $25 free sign up promotion and other contests and games with a $54k prize pool. Keep watch on DraftKings this next Super Bowl as the prize pots are likely to only get bigger!
FanDuel Sportsbook Super Bowl Promos
FanDuel is known as one of the biggest DFS operators in the US so it goes without saying that the Super Bowl is one of their biggest events. At Super Bowl LIV FanDuel offered customers a chance to make fifteen prop bets on the game free of charge with those who correctly selected 12/15 of their bets winning a free $100. For those lucky bettors who guessed all fifteen bets correctly, there was a free $15,000 grand prize waiting for them!
Caesars Sportsbook Super Bowl Promo
Caesars offered new customers on the Day of the Super Bowl an offer to be eligible to receive up to $300 worth of site credit after betting on the moneyline or point-spread for the game. This offer was a risk-free bet since if they lost then the amount would be replaced on their account in the form of credits to be bet with in the future.
Bettors by nature are always looking for an edge on their sports betting, some people believe in luck and will only bet if they portend the signs are with them while other bettors take a Moneyball approach and become expert number crunchers.
We offer a third strategy for sports bettors looking to take the initiative away from the sportsbooks and increase their odds at winning bets.
Regulated sports betting states are currently in a rapid growth state and are engaged in a battle over user account acquisition. Each sportsbook wants your name on their account holding list and they are offering ever-greater incentives to win you over, but there is no law or rule saying that you must have only one account.
This leaves an open door for exploitation if you have the patience to do it. If you are studious you can take advantage of the offers and open multiple accounts. Constantly checking the odds and promotions of various sportsbooks against each other.
Below is our guide to doing just that.
Disclaimer: Sportsbook deals often come with strings attached to their promos. A common catch with deals like this is a timer set on the deal. Say you got a risk free bet from a sportsbook, there will often be a timer running down on your risk free bet meaning that you must spend it before a certain amount of time runs out. Keep track and be aware of the disclaimers.
How to Take Advantage of Opening Multiple Sportsbook Profiles
With so many offers across the board for opening new accounts, there is more than enough of an argument for opening multiple profiles with multiple sportsbooks. There are several advantages to this strategy with a few detractions mainly being that it is a lot to keep track of.
Be aware that opening multiple accounts is not a perfectly easy strategy, inevitably you will have to create some sort of spreadsheet to keep track of your various accounts, offer expiration dates, and times to bet that if you follow through the rewards can be worth the effort.
How to Do Risk-Free Betting Exploitation
Since there is a minimal risk of loss with risk-free betting offers it can be advantageous to make the jump and open multiple accounts even if you don’t intend on following through past your risk-free betting stage.
If for instance you lived in NJ and decided you wanted to take advantage of all the risk-free bet offers available to you in the state across multiple sportsbooks then you would have an added total of $3,900 in risk-free bets.
If you were already intended to bet that much then you might as well do it intelligently in order to maximize your profits and minimize your losses.
Comparing the Money Lines Strategy
It is no secret that sportsbooks sometimes offer slightly different odds. Each sportsbook hires world-class oddsmakers that dissect every aspect of a game before releasing the odds. Factors can include factors as obvious as home-field advantage and injuries as well as much less obvious factors like if a particular team is used to practicing on astroturf or not.
With that in mind sometimes there are discrepancies between different sportsbooks when it comes to the money lines, especially if the games are low profile. Keeping track of these various money lines is a good point for keeping your multiple sportsbooks active after you have taken advantage of the one-time risk-free betting promotion.
How to Take Advantage of Revolving Sportsbook Promotions
Sportsbooks also offer recurring promotions that often come and go depending on what major events are going on. Keeping your multiple profiles open and consistently scanning the revolving door of promotions is a great way to take advantage of the various deals.
If you can successfully ride the wave of promotions then you could theoretically nearly double your money down since many offers are match bets (we’ll match your amount spent).
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