Best Second Chance Bets 2024
Presenting the best sportsbook Second Chance Bet offers available today
Sportsbook | Bonus | Promo Code | States | Action | |||||
---|---|---|---|---|---|---|---|---|---|
#1 |
Bet & Get up to $1,000 in No Sweat Bets |
Promo Code
N/A |
States
+20 |
T&C Apply
Up to $100 Back in Bonus Bets if Your Bet Loses Every Day for 10 Straight Days (Up to $1,000 Total) 21+. New customers in AZ/CO/CT/IL/IN/IA/KY/LA/MD/MA/ MI/NC/OH/PA/TN/VT/VA/WV/WY/DC only. Different offer available in NY. Must opt-in and make a qualifying wager of $1+. One qualifying wager per day. Qualifying cash wager must have odds of -500 or greater. If the qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $100 per day. Bonus bets paid out within 72 hours of qualifying wager settlement. Bonus Bets expire 7 days from issuance. See full T&C at Fanatics Sportsbook. | |||||
#2 |
Bet $5, Get $150 or $1,000 First Bet Safety Net |
Promo Code
SBO365 |
States
+8 |
T&C Apply
Get $150 in Bonus Bets After Your First Real Money $5 Wager or Up to $1,000 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. Limit one bonus per user. Offer available in AZ/IA/IN/KY/LA/NJ/NC/OH/VA. Different offers available in CO & PA. First online real money wager for both offers. $10 first deposit required within 30 days. Minimum wager of $5 required to claim the $150 Bonus Bets. Must contain at least one selection at odds of -500 or greater. Loss refunded as bonus bets up to $1,000 with Safety Net Offer. Bonus issued as non withdrawable bonus bets that expire in 7 days. See full T&C at Bet365. #ad | |||||
#3 |
Up to $1,500 in Bonus Bets if Your First Bet Doesn't Win |
Promo Code
N/A |
States
+18 |
T&C Apply
Up to $1,500 Back in Bonus Bets if Your First Wager Doesn't Win 21+. New users only. Offer available in AZ/CO/IL/IN/IA/KS/LA/MD/MA/ MI/NJ/OH/PA/TN/VA/WV/WY. Different offer available in NC. Offer not available in NV/NY/PR. Qualifying deposit (min $10) and first real money wager required. If qualifying bet settles as a loss, user is refunded 100% in non-withdrawable bonus bets up to $1,500. Rewards are non-withdrawable bonus bets that expire in 7 days. Please gamble responsibly. Gambling problem? Call 1-800-GAMBLER. See full T&C at BetMGM. | |||||
#4 |
2nd Chance Bet up to $500 |
Promo Code
SBOBONUS |
States
+11 |
T&C Apply
Up to $500 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. Offer amount varies by state. Up to $500 bonus in IL/IN/MD/LA/MI/PA/VA. Up to $250 bonus in CO/NJ Up to $100 bonus in AZ/IA/NY/OH/WV Must make a qualifying deposit of $10+ with promo code SBOBONUS. Must make qualifying cash wager with odds of -200 or greater. If the first qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $500. See full T&C at BetRivers. | |||||
#5 |
First Bet Insurance up to $500 |
Promo Code
SBOCS |
States |
T&C Apply
Up to $500 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. MD only. Minimum $10 deposit. Must make qualifying cash wager with odds of -120 or greater. If the first qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $500. Bonus Bets awarded in $25 increments, rounded down to the nearest multiple. Winnings from bonus bets are capped at 2x the stake. See full T&C at Crab Sports. |
What happened to Risk Free Bets?
You may have stumbled onto this page searching for "risk free bets" and now be asking yourself where all of those offers went. Well, these days sportsbooks cannot use the term "Risk Free" to describe their promotional offers.
Due to changes in advertising regulations, betting sites had to change the commonly-used catchphrase due to the simple fact that these offers did provide inherent risk. Since you were typically refunded in on-site credits that were non-withdrawlable, there was risk involved.
Now, these same types of offers are more accurately called "Second Chance" or "No Sweat" bets.
Top Second Chance Betting Offers
Second Chance bets are win-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 second chance 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 second chance bets offers available today!
Sportsbook | Bonus | Action | |||
---|---|---|---|---|---|
#1 |
Bet & Get up to $1,000 in No Sweat Bets |
T&C Apply
Up to $100 Back in Bonus Bets if Your Bet Loses Every Day for 10 Straight Days (Up to $1,000 Total) 21+. New customers in AZ/CO/CT/IL/IN/IA/KY/LA/MD/MA/ MI/NC/OH/PA/TN/VT/VA/WV/WY/DC only. Different offer available in NY. Must opt-in and make a qualifying wager of $1+. One qualifying wager per day. Qualifying cash wager must have odds of -500 or greater. If the qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $100 per day. Bonus bets paid out within 72 hours of qualifying wager settlement. Bonus Bets expire 7 days from issuance. See full T&C at Fanatics Sportsbook. | |||
#2 |
Bet $5, Get $150 or $1,000 First Bet Safety Net |
T&C Apply
Get $150 in Bonus Bets After Your First Real Money $5 Wager or Up to $1,000 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. Limit one bonus per user. Offer available in AZ/IA/IN/KY/LA/NJ/NC/OH/VA. Different offers available in CO & PA. First online real money wager for both offers. $10 first deposit required within 30 days. Minimum wager of $5 required to claim the $150 Bonus Bets. Must contain at least one selection at odds of -500 or greater. Loss refunded as bonus bets up to $1,000 with Safety Net Offer. Bonus issued as non withdrawable bonus bets that expire in 7 days. See full T&C at Bet365. #ad | |||
#3 |
Up to $1,500 in Bonus Bets if Your First Bet Doesn't Win |
T&C Apply
Up to $1,500 Back in Bonus Bets if Your First Wager Doesn't Win 21+. New users only. Offer available in AZ/CO/IL/IN/IA/KS/LA/MD/MA/ MI/NJ/OH/PA/TN/VA/WV/WY. Different offer available in NC. Offer not available in NV/NY/PR. Qualifying deposit (min $10) and first real money wager required. If qualifying bet settles as a loss, user is refunded 100% in non-withdrawable bonus bets up to $1,500. Rewards are non-withdrawable bonus bets that expire in 7 days. Please gamble responsibly. Gambling problem? Call 1-800-GAMBLER. See full T&C at BetMGM. | |||
#4 |
2nd Chance Bet up to $500 |
T&C Apply
Up to $500 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. Offer amount varies by state. Up to $500 bonus in IL/IN/MD/LA/MI/PA/VA. Up to $250 bonus in CO/NJ Up to $100 bonus in AZ/IA/NY/OH/WV Must make a qualifying deposit of $10+ with promo code SBOBONUS. Must make qualifying cash wager with odds of -200 or greater. If the first qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $500. See full T&C at BetRivers. | |||
#5 |
First Bet Insurance up to $500 |
T&C Apply
Up to $500 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. MD only. Minimum $10 deposit. Must make qualifying cash wager with odds of -120 or greater. If the first qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $500. Bonus Bets awarded in $25 increments, rounded down to the nearest multiple. Winnings from bonus bets are capped at 2x the stake. See full T&C at Crab Sports. |
What is a Second Chance bet?
Second Chance 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 second chance 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.
Featured Second Chance Bets
Caesars Sportsbook Second Chance Bet
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
Get 10 100% Profit Boosts After Your First Real Money Wager of $1
21+ only. New customers only. Must use Promo Code SBODYW.
AZ/CO/IL/IN/IA/KS/KY/LA/ME/MA/MD/MI/NJ/NY/NC/OH/PA/TN/VA/WV/WY/DC only.
Deposit required (min $10). Must place first real money Qualifying Wager (min $1) within 30 days. Receive ten 100% Profit Boosts to use on any market. Maximum wager for each profit boost is $25. Maximum additional winnings for each rewarded profit boost is $2,500. Profit Boosts expire 14 days after receipt.
See full T&C at Caesars.
How do Second Chance Bets Work?
Second chance 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 Second Chance Bet Offer
Not all second chance bet offers are created equal. Keep an eye out for some of these key elements when assessing your second chance bet.
Highest potential value - Obviously, sportsbooks will try to lure you in with a high potential value of their second chance bet. Caesars Sportsbook, for example, offers users an extremely high potential value. Keep in mind that second chance 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 second chance bet, make sure you bet at least $10. Otherwise, you may miss out on your second chance 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 second chance 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 second chance bet. Many sportsbooks refund your account with bet tokens instead of a single bonus 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 second chance bet offer.
Pro Tip
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 Second Chance Bet
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 today.
If your qualifying wager loses, you will receive a series of bonus bets in 20% increments equaling the sum of your bet.
Up to $1,500 Back in Bonus Bets if Your First Wager Doesn't Win
21+. New users only. Offer available in AZ/CO/IL/IN/IA/KS/LA/MD/MA/ MI/NJ/OH/PA/TN/VA/WV/WY. Different offer available in NC. Offer not available in NV/NY/PR.
Qualifying deposit (min $10) and first real money wager required. If qualifying bet settles as a loss, user is refunded 100% in non-withdrawable bonus bets up to $1,500. Rewards are non-withdrawable bonus bets that expire in 7 days.
Please gamble responsibly. Gambling problem? Call 1-800-GAMBLER.
See full T&C at BetMGM.
How to unlock a second chance bet
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.
If your qualifying wager wins, that's it - enjoy your winnings!
But if your qualifying bet loses, you're in luck. Second chance bets will refund your qualifying wager up to a certain dollar amount in non-withdrawable bonus bets. You will have to satisfy a turnover requirement to turn your refunded bet credits back into real cash.
Why are Second Chance Bet Offers so Popular?
Second chance 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 second chance 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.
These offers 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.
Existing Customer Second Chance Bets
While second chance 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 second chance 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.
Other Sportsbook Bonuses
While second chance 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 Bonus Bets & Deposit Bonuses.
Sportsbook Bonus Bets
The Bonus Bet is one of the most valuable sportsbook sign up bonuses available to new users, although is not offered very frequently.
Usually, bonus bets try to lure new players in by promising them the chance to test out the betting site with minimal investment 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 bonus 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. Bonus bets were especially attractive to this demographic who may have been more afraid of risk.
Sites like Betway and Bet365 still offer these sign up bonuses to new users.
Sportsbook Deposit Bonuses
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 second chance bet, but less generous than the bonus bet, deposit bonuses are offered by sites like DraftKings Sportsbook and BetRivers.
Frequently Asked Questions about Second Chance Bets
Many sportsbooks now offer great No Sweat sign up offers. Some of our favorites include:
Second Chance Bets used to be referred to commonly as "risk free" bets. However, regulators decided this was misleading, since the player had to lose real money in order to get their promised bonus, which was then non-withdrawable.
Now, risk free bets are called second chance or no sweat bets.
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, but this happens rarely.
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.
Due to the nature of second chance bet offers, you will almost definitely have to make a deposit before you are eligible for a bonus.
That depends on what you're looking for. Some of our favorites include:
- Caesars Sportsbook - Very high potential bonus value
- Bet365 - your account refund can be split up into multiple small bets, instead of one or two large bets
There is no shortage of no sweat first bet offers available today, so we encourage you to read on and decide which offer suits you best!
This can vary from book to book of course, but most sportsbooks try to refund your account within 72 hours.