If the bet wins, it’s like the promotion doesn’t even exist, with the upshot being that they’ll have procured the free money from the winning wager.

Risk-free bets are nearly identical to free bets in every way, except for one: To claim one, you’re going to have to take a loss at the sportsbook.įor instance, when sports betting sites roll out a $500 risk-free promotion, the player will first have to wager up to $500 on a bet, using their own money. By contrast, winnings from deposit match free bet promotions can typically be cashed out immediately. The latter is allocated as a bonus, not a free bet, and usually requires that a player wager the deposit bonus a certain number of times (the wagering requirement) before it can be withdrawn. Note: a deposit match free bet at legal online sports betting sites isn’t the same thing as a traditional deposit match. We’ve seen them run as high as $500 – $1,000 in newer online sports betting markets. “Bet this amount” free bets usually have a much higher monetary cap than deposit match or no-deposit free bets. They’re extra juicy because you won’t need to place a wager of any kind to claim them.

No-deposit free bets: These are free bets given out by the book by new registrants.

Deposit match free bets: Instead of basing the size of the free bet on a player’s first bet, it’s matched against the size of their first deposit, again up to a certain amount.

Players are first required to place a real-money bet, and sportsbooks match the wager with a free bet of equal size, up to a predetermined amount.

Bet an amount, get an amount: This is probably the most common type of free bet.

Generally speaking, there are three types of free bets offered by US sportsbooks: If it loses, your cash bankroll is no worse off than it was prior to the wager. If the bet wins, you only secure the $600 win, not the $600 win plus the initial $100 stake. Once the free bet is graded, any winnings are allocated to your cash account, and the free bet stake disappears.įor instance, let’s say you receive a $100 free bet and decide to take a shot on the New York Knicks, which are going off at +600 against the Los Angeles Lakers. Instead, you’re going to have to make a qualified wager (see terms and conditions of any offer before accepting). They’re not cash, so don’t think you can claim a free bet and cash it out.

Which Sports Betting Markets Offer Free Bets?įree bets are a credit given to players at online sportsbooks that enables them to place a bet without incurring any inherent risk.

What's Better: Free Bets Or Risk-Free Offers?.

Draftkings 500 free bet