Risk-Free Bets
Risk-Free Bets / No Sweat Bets & Bonuses
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Risk-Free Betting Offers & Sportsbook Betting Bonuses
Risk-Free bets is old terminology used in the gambling industry, each welcome bonus has risk attached. These types of promotions are now labeled terms such as “No Sweat Bets”. The concept remains the same, but due to the refund being paid as a bonus, it’s no longer called Risk-Free bets. You can find the best promotions below.
Risk-Free bets is a betting terminology that is being pushed out of the industry, as the labeling of this sort of promotion was inaccurate. All betting actions come with a risk, therefore, the terminology Risk-Free bets isn’t correct, and this is something you need to be aware of.
The concept of what used to be called a Risk-free bet, is that a sportsbook gives new customers a bonus bet if their first bet loses. The reason why this can no longer be classed as a Risk-Free bet is that the wager is only returned as a bonus. Therefore, the new user can’t withdraw their money from the account.
Normally this bonus has to be used within 7 days of receiving. This means, that even though you get a bonus if your first bet loses, it’s not risk-free as you still outlay money, which then becomes a bonus if you lose.
Despite the industry moving away from Risk-Free Betting labeling, a lot of online bettors still label the promotion as this. FanDuel Sportsbook has started calling this promotion “No Sweat Bets” and DraftKings Sportsbook has followed.
On this page, we showcase the best promotions that give new users bonus credits if their first wager loses, promotions that used to be called Risk-Free bets.
But to be clear, there’s risk associated with these promotions, and users should gamble responsibly
Sportsbooks have changed their terminology of the old Risk-Free betting offers, as the terminology paints an inaccurate picture of the actual promotion. There's a risk associated with every promotion in gambling. Below you’ll find sportsbooks that used to offer these promotions, and what they now call this type of promotion.
FanDuel Sportsbook:: FanDuel’s history is in the world of DFS, however, since sports betting was legalized in 2018, FanDuel Sportsbook has seen rapid growth. FanDuel Sportsbook is now the biggest US sportsbook. FanDuel Sportsbook offers new users “No Sweat” promotions. These promotions allow new users to place a first bet up to a certain amount (stated above), and if that bet loses, they will get their stake back as a bonus.
This is no longer called a Risk-Free Bet as FanDuel Sportsbook compensates with a bonus if the bet loses, which needs to be wagered before you can withdraw from your account.
DraftKings Sportsbook: DraftKings Sportsbook is the second biggest sportsbook in the US, just behind FanDuel Sportsbook. DraftKings Sportsbook on occasion runs huge “No Sweat” promotions, which allow new users to place a substantial first bet, and if it loses, they will give the user their wager back in a bonus.
DraftKings Sportsbook also runs these promotions for all customers around big events, which they call No Sweat Same Game Parlays. DraftKings Sportsbook also used to refer to these promotions as Risk-Free Bets but has changed the terminology due to the misleading nature of the phrase.
BetMGM Sportsbook: BetMGM Sportsbook is another sports betting site that used to offer Risk-Free bet promotions. BetMGM Sportsbook has also stopped labeling this type of promotion as a Risk-Free bet due to the inaccuracy of the claim.
BetMGM Sportsbook will allow new users to place a first bet, and if their first bet loses, they will refunded the wager back as a bonus.
This bonus will have turnover requirements, which means it’s not a Risk-Free bet.
Caesars Sportsbook:: Caesars Sportsbook is one of the quickest growing sportsbooks in the US, and mainly due to their promotions.
Caesars Sportsbook is another sports betting site that has historically run Risk-Free bet promotions. However, we no longer call the promotion Risk-Free due to the misleading nature.
When Caesars Sportsbook runs this type of promotion, they label it as Get Your First Bet Back, and they let new users place a first cash bet, and if they lose they give the user their wager back as a bonus bet.
Risk-Free bets used to be promotions run by sportsbooks which allow new users to place a first bet on a sports betting site, and if it lost, they would get their wager refunded by the sportsbook as a bonus.
This promotion still exists, and is common in the spots betting space, however, it’s no longer referred to as a Risk-Free bet. They are often referred to as No Sweat Bets.
This type of promotion is normally available for new users. The new users' first cash bet on the site will be refunded up to a certain amount in bonuses if the bet loses.
No Sweat Bets which used to be called Risk-Free bets have certain terms and conditions to be made aware of. Each sportsbook has their own terms and conditions associated with their promotion, but the main one to be made aware of is that these promotions aren’t Risk-Free. There’s a risk associated with this promotion.
If your first bet at the sportsbook loses taking this promotion, you will get your wager back as a bonus bet. This is why the bet isn’t called Risk-Free anymore, as the bet is refunded as a bonus.
This bonus will have turnover requirements before you can withdraw your money. The bonus will also have an expiration date.
Sportsbooks will reward the bonus credits in different amounts, and each sportsbook will have different turnover requirements.
Each sportsbook will have the minimum amount you need to place to qualify for this type of promotion, and will also have a minimum odd of the qualifying bet.
Just like Risk-free bets, Risk-Free matched betting isn’t a term used in the industry anymore, as there’s risk associated with every bet.
However, when people speak about Risk-Free Matched betting they refer to the activity of hedging your bet.
For example, if a sportsbook was offering a $1,500 No Sweat promotion, a new user might place $1,500 on the Packers to beat the Bills. However, they might also hedge their bet by placing $1,500 on the Bills to beat the Packers. They will do this, because if the new customer bet loses they will get their wager back.