Best Risk Free Bets 2023

Presenting the best sportsbook risk free bet offers available today

Top Offers 2023

Rank Bonus Turnover Min odds 
21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

5 Second Chance Bets up to $250

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website



Up to $1,250 on Caesars

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website



$1,000 No Sweat First Bet

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website



2nd Chance Bet up to $500

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website

AZ/CO/IL/IN/IA/LA/MI/NJ/OH/PA/VA/WV only. 2nd Chance Bet up to $100 in NY.


Up to $1,000 Back in Bonus Bets

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website

AZ/CO/IL/IN/IA/KS/LA/MD/MA/MI/ NJ/OH/PA/TN/VA/WV/WY only. Offer Not Available in NY.


First Bet Insurance of up to $500

Turnover: 1x bonus amount

Lowest odds: -300

Claim Go to website

$500 in PA, $100 in AZ, IN, NJ, & VA


Second Chance Bet up to $50

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website

CO/MI/NJ/PA only.


Up to $1,000 Back in Bonus Bets

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website


Risk Free Bets

Sign up bonuses are a huge way for online sportsbooks to add incentives and attract new users. In the US, one of the most popular sign up bonuses is the so-called risk free bet.

Also known as no risk matched betting, risk free bets require you to first deposit and then make an initial wager. Typically, if your wager loses you will be refunded with on-site credits that you will then need to turnover in order to withdraw as real money.

It's important to note that these offers are usually not really risk free since they require the user to wager their own money and typically refund them in non-withdrawable site credits.

Frequently Asked Questions about Risk Free Bets

Quick answers to quick questions about risk free bet offers

What sportsbooks offer risk free bets?

Many sportsbooks now offer great sign up offers. Some of our favorites include:

What’s the difference between a free bet and risk free bet sign up bonus?

Risk free bets typically require you to make an initial wager, while free bets are awarded upon registration or initial deposit.

Free bets have the advantage of not necessitating a wager, but risk free bets are more popular as a sign up bonus due to the inherent value to the sportsbook.

Can risk free bets be combined with other bonuses?

In most cases, you are only eligible for one sign up bonus per sportsbook. This includes online casino bonuses the majority of the time.

Some sportsbooks do, however, bring you on with a two-pronged sign up bonus. Unibet and Barstool Sportsbook, for instance, both feature two different types of welcome bonuses once you sign up with them.

The specific terms and conditions of each sportsbook's welcome bonus varies from case to case, so make sure to read up on the terms and conditions of each offer.

Do I have to make a deposit before getting my risk free bet?

Due to the nature of risk free bet offers, you will almost definitely have to make a deposit before you are eligible for a bonus.

How long does it take to get my risk free bet reimbursement?

This can vary from book to book of course, but most sportsbooks try to refund your account within 72 hours.

Which is the best risk free bet offer?

That depends on what you're looking for. Some of our favorites include:

  • PointsBet - very high potential value for high-rollers, plus you get to test out the PointsBetting system
  • Betway - your account refund can be split up into multiple small bets, instead of one or two large bets

There is no shortage of risk free bet offers available today, so we encourage you to read on and decide which offer suits you best!

Top Risk Free Betting Offers

Risk free bets are won-wins for the sportsbook and the user, so they're often offered. In fact, I'd go so far as to say that they are the most popular sign up bonus on the market.

Luckily, we we've scoured every online sportsbook in the US and found a collection of risk free bet offers that we think users will appreciate and ranked them so you know which ones are really the most valuable. No more losing out on your bonus because of a technicality in the terms and conditions!

Check out some of the top risk free bets offers available today!

Best Offers

21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

  1. 5 Second Chance Bets up to $250

  2. Up to $1,250 on Caesars

  3. $1,000 No Sweat First Bet

  4. 2nd Chance Bet up to $500

  5. Up to $1,000 Back in Bonus Bets

  6. First Bet Insurance of up to $500

  7. Second Chance Bet up to $50

  8. Up to $1,000 Back in Bonus Bets


While some sportsbooks label their offers as Risk Free, you should keep in mind that this is not literally the case.

The vast majority of these bonuses require the user to deposit and risk their own money. With so-called risk free bets, you will typically only get refunded in site credits, not cash.

So keep that in mind when going to claim your new bonus.

What is a risk free bet?

Risk free bets are a lot like bet insurance. Typically, sportsbooks require you to make an initial wager. If your bet wins, congrats enjoy your winnings.

However, if your bet loses, a risk free bet offer ensures that you will be refunded your wager amount in non-withdrawable on-site credits.

In this way, you're able to test out a sportsbook knowing that you won't lose your entire wager outright.

It’s a sign up bonus that is becoming more and more popular with online sportsbooks, and they're actually one of the most commonly offered Super Bowl betting promos being offered today.

Risk Free Bets vs. Free Bets

While they sound similar, free bets and risk free bets are actually quite different in the services they provide the player.

Free Bets don't require you to lose a wager, they are on-site credits awarded to your account for you to use as you see fit.

Risk Free Bets require you to lose a real money wager. Then, you will be refunded with on-site credits that you can then use in an attempt to recoup your original losses.

Risk Free Bets are more popular today because they minimize the sportsbook's risk as well as that of the the user.

Featured Risk Free Bets

Caesars Sportsbook Offer

Up to $1,250 on Caesars

Test America's Best Online Sportsbook

Caesars Sportsbook is one of the country's top bookies for good reason: the fantastic odds, sleek mobile app, and superb payment options make it great for customers on just about every front.

Don't believe us? You can test out Caesars Sportsbook yourself! With a very high potential value, there's little doubt that you'll come out as a winner one way or another.

You can read our review below or just hit the 'PLAY NOW' button

Play Now


PointsBet Offer

5 Second Chance Bets up to $250

Bets for Days

PointsBet is one of our favorite sportsbooks available in the US today. With a top-flight user experience and some of the most fun ways to bet on the web, PointsBet is one of the top dogs for sure.

PointsBet also features one of our favorite welcome offers on the market. Their offer gives you second chance bets for your first five days on the platform!

Play Now


How do Risk Free Bets Work?

Points Bet Mobile Risk Free Bet Offer

If you're signing up for PointsBet, make sure to take advantage of up to $2,000 in Risk Free Bets

Risk free bets are fairly straightforward.

Most of the time, you are required to make an initial deposit and wager with your own money. If your first bet wins, go ahead and buy yourself something nice.

If you lose, your account will be refunded. Most of the time, your refunds come in non-withdrawable on-site credits. From there, you will need to fulfill the sportsbook’s playthrough or turnover requirement in order for your bonus money to be withdrawable as cash.

These offers allow you to try out a new sportsbook while making sure you’re not leaving yourself hung out to dry if your first bet loses.

What to Look for in a Risk Free Bet Offer

Not all risk free bet offers are created equal. Keep an eye out for some of these key elements when assessing your risk free bet.

  • Highest potential value - Obviously, sportsbooks will try to lure you in with a high potential value of their risk free bet. Pointsbet and Caesars Sportsbook, for example, offers users an extremely high potential value. Keep in mind that risk free bets often match your initial wager. That means that you have to put down a lot of money upfront to reach the highest possible value of the offer.

  • Qualifying wager requirements - When making your initial wager, make sure you are fulfilling any minimum requirements. For instance, if a site requires a $10 minimum bet on your first wager to unlock the risk free bet, make sure you bet at least $10. Otherwise, you may miss out on your risk free bet offer.

  • Turnover requirement - Turnover is how many times you will have to wager your bonus amount in order to convert it into real cash. With risk free bets, there is typically only a 1x turnover requirement, but this can differ from sportsbook to sportsbook.

  • Flexibility - A huge thing to look out for is how flexible your sportsbook allows you to be with your risk free bet. Many sportsbooks refund your account with bet tokens instead of a single free bet for your wager amount. You can then split these up over multiple wagers to hedge your bets against losing your bonus money. This flexibility provides you with a lot more freedom in how you want to wager across the sportsbook.

There's always more to look out for, but these are some major elements you should evaluate when choosing a risk free bet offer.

Pro Tip
Patrick Corkery

Patrick Corkery

As always, I heartily encourage you to read the Terms & Conditions of your offer. Sportsbooks tend to do a pretty good job of making these easily accessible and straight to the point, so there's no excuse to get lazy here.

Educate yourself on the fine print and there will be no unpleasant surprises. Only 5 extra minutes of reading can save you a major headache down the road!

BetMGM Risk Free Bet

Up to $1,000 Back in Bonus Bets

Major casino chain MGM has made itself into one of the biggest brands in the world of US online sports betting with BetMGM.

With a great mobile app and some of the best parlay betting options of any sportsbook, you can try out BetMGM risk free today.

If your qualifying wager loses, you will receive a series of free bets in 20% increments equaling the sum of your bet.

Play Now

AZ/CO/IL/IN/IA/KS/LA/MD/MA/MI/ NJ/OH/PA/TN/VA/WV/WY only. Offer Not Available in NY.

FanDuel Sportsbook Offer

$1,000 No Sweat First Bet

Daily fantasy giant Fanduel has made a huge splash in the world of legal online sports betting since the end of America's prohibition on gambling in 2018.

Today, FanDuel Sportsbook is one of the most dominant sports betting platforms in the country. If you're interested in trying out one of the industry leaders, make sure to take advantage of the FanDuel No Sweat First Bet on your way there.

We love FanDuel Sportsbook for its elite sports betting app, Same Game Parlay features, and regular daily promotions. We think you will too

Play Now


How to unlock a risk free bet


Choose your Sportsbook

Browse all of the options available to you here and decide which sportsbook suits you best. Some of our favorite sportsbooks with no risk matched betting offers include:

  • Caesars Sportsbook
  • PointsBet
  • BetMGM
  • FanDuel Sportsbook
  • Unibet

Secure your Bonus

After checking out the options, click the green 'PLAY NOW' or 'CLAIM' button associated with the sportsbook of your choice. Our link should lock in your welcome offer.


Create your Account

You'll need to set up your betting account by providing some basic information, such as:

  • Full Name
  • Email Address
  • Phone Number
  • Date of Birth
  • Residential Address
  • Last 4 Digits of Social Security Number

Depending on the regulations of your state, you may also be required to upload some sort of identification that proves you are old enough to bet legally.


Place your Qualifying Wager

To unlock your risk free bet, sportsbooks require that you first place a real-money wager.

Each betting site has its own set of rules about minimum bets and what kind of wagers will qualify you for your bonus, so always make sure to check your Terms & Conditions.


Enjoy your Winnings or Refund

If your qualifying wager wins, that's it - enjoy your winnings!

But if your qualifying bet loses, you're in luck. Risk free bets will refund your qualifying wager up to a certain dollar amount. You may have to satisfy a turnover requirement to turn your refunded bet credits back into real cash.

Why are Risk Free Bet Offers so Popular?

Unibet Risk Free Bet

Unibet features risk free bets in all of their sign up bonuses

Risk free bets are growing in popularity as a sign up bonus because they provide a benefit for both the sportsbook and the user.

From the user perspective, you’re minimizing your own risk. By utilizing a risk free bet offer, you get to try out a new sportsbook while covering your bases and ensuring you won’t lose your entire first bet automatically. If you do lose, you'll get the chance to try and win your wager back.

Risk Free Bets are a win-win proposition for the sportsbook and the user

From the sportsbook’s perspective, they don’t have to give anything away right off the bat to draw in a user. They draw in a new customer and get them to deposit and place a bet without giving up any assets themselves.

In fact, if the user wins his first wager, they don’t have to give away anything at all! Compared to other sign up bonuses, the sportsbook actually makes out quite well for itself.

Unibet Risk Free Bet

First Bet Insurance of up to $500

Founded in Sweden and known worldwide as a top online sportsbook, Unibet is now available in several states. Differing from much of the competition, Unibet has decided to personalize the user experience from state to state. For you, this means that you should sign up through your states personalized website, all of which are listed below.

New bettors to Unibet are treated to bonus offers featuring a risk free bet. Unibet New Jersey users are even refunded in real money, meaning there is absolutely zero turnover requirement.

We love Unibet for its customer support, casino options, and live experience, so we definitely recommend checking out their risk free bet.

Play Now

$500 in PA, $100 in AZ, IN, NJ, & VA

Unibet Risk Free Bet

How to Claim Unibet Risk Free Bet

30 June 2022

Unibet is now offering new users in Arizona, Indiana, Iowa, New Jersey, Pennsylvania, and Virginia a risk free bet worth up to $500 as a sign up bonus. FInd out how to claim yours ... Read more

Existing Customer Risk Free Bets

While risk free bet offers are popularly used as a sign up bonus, you can occasionally find them offered to existing customers as well.

Oftentimes, you'll find risk free bets for existing customers branded more or less like bet insurance. Most sportsbooks will offer this type of wager for parlays.

Specifically, the same game parlay is a bet type that has become a bit more popular in recent years, so parlay insurance for same game parlays has become an extremely commonly offered sportsbook promotion.

Risk Free Bet Promotions

FanDuel Sportsbook NBA Risk-Free Same Game Parlay

The FanDuel Sportsbook NBA Risk-Free Same Game Parlay gets you your money back if your 3+leg Same Game Parlay bet loses Read more

Other Sportsbook Bonuses

While risk free bets are particularly popular right now, they're not the only sign up bonus offered to new users. In fact, there are numerous other sportsbook bonuses on the market!

Other popular sportsbook sign-up bonuses include Free Bets & Deposit Bonuses.

Sportsbook Free Bets

Barstool Sportsbook Free Bet

Barstool Sportsbook currently offers users a free bet upon sign-up

The Free Bet is one of the most valuable sportsbook sign up bonuses available to new users, although is not offered very frequently.

Usually, free bets try to lure new players in by promising them the chance to test out the betting site for free with no deposit necessary. In this way, the new user gets to test out the platform all while not taking on any risk at all.

The value is low for the sportsbook as they run the risk of giving away free money to a user who may or may not return to invest any of their own capital.

This method was more popular in the early days of legal online sports betting in the US. At the time, there was a mad dash to acquire customers, particularly those new to betting. Free bets weres especially attractive to this demographic who may have been more afraid of risk.

It’s a bit out of fashion now that many online sportsbooks have established themselves and aren’t as desperate for new users, but you’ll still see them offered occasionally. During the football season, you will see many NFL free bet offers but more often than not, free bets are offered by sportsbooks as existing customer promotions now.

Sites like Barstool Sportsbook and Bet365 still offer these sign up bonuses to new users.

Sportsbook Deposit Bonuses

BetRivers Deposit match

BetRivers matches your first deposit up to $250

Deposit bonuses are another common sportsbook bonus betting sites will offer to new users.

Here, the sportsbook will observe how much money you place into your account with an initial deposit. From there, the betting site will usually match that amount, onlu up to a certain extent.

More user-friendly than the risk free bet, but less generous than the free bet, deposit bonuses are offered by sites like DraftKings Sportsbook and BetRivers.