Risk Free Bets At Online Sportsbooks In The USA
In the US, new players can claim risk-free bets at many of the best online betting sites. We feature the best here. If a legal online sportsbook has a current risk free bet, you’ll find it right here in our list.
Many of the risk free bets we feature are exclusive to our site. For more information about risk free bets, including what they are, how to claim one, and tips on how to win, please scroll past our list.
Best Risk Free Bet Offers and Bonus Codes in May 2026
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Table of Contents
What Is A Risk Free Bet?
A risk free bet is an incentive offered by online sportsbooks to attract new players. If you win with your initial risk free bet, you get to keep your winnings. If you lose, you will be reimbursed in site credits or, in rare cases, real cash.
If you are reimbursed with site credits, you can still win real money by fulfilling the terms and conditions. As you may have realized, this means that a risk free bet is not entirely ‘risk free’. We like to think of risk free bets as a second opportunity to win, rather than a totally risk-free form of gambling.
How To Use A Risk Free Bet Promo Code
If you have never claimed a risk-free bet before, we will walk you through the process to avoid confusion.
Please follow our step-by-step guide below:
- Claim one of our recommended risk free bets at trusted online sportsbooks.
- Make a real money deposit (using the bonus code if necessary).
- Make a bet that meets the terms and conditions.
- If your first bet wins, you get to keep your winnings. If it fails, you will be refunded in bonus credits.
Terms And Conditions For Risk Free Bets
Before you claim a risk free bet, please ensure you understand the terms and conditions.
Here are a few of the more important T&C’s that all players should be aware of:
If you’re looking for a risk-free bet with exceptional terms and conditions, look no further.
Here is our selection of the top 3 risk-free bets available right now:
Sorry, there aren't any SportsBook Free Bet bonuses matching this criteria right now.
But don't worry; our diligent team is continuously sourcing new bonuses from premier United States gambling sites. Check back soon to stay updated with the latest promos!
How To Win Real Money With Risk Free Bets
Players that claim a risk free bet have a genuine opportunity to win real money.
To maximize your chances, please consider the following tips:
- Make the Maximum Possible Bet / Deposit
When a bet is risk free, it makes sense to claim the full amount – even if you lose, you’ll receive the value back in bonus cash anyway. Additionally, you should use the entirety of your risk-free bet in a single wager. Any remaining funds after your first wager may be forfeit, as per the terms and conditions. - Low Wagering Requirements
Wagering requirements only matter if you lose with your first bet. If you win, you get to take your winnings immediately. If you do not win with your first attempt, the bonus credits you receive may have to be wagered a value of times before they can be withdrawn. Please claim risk free bets with low wagering requirements, just in case.
For example, the current risk free bet worth up to $250 offered by Unibet is ideal. Unlike most risk free bets, Unibet promises to reimburse you in real cash rather than bonus credits – which means there are no wagering requirements whatsoever! - Employ a Matched Betting Risk Free Calculator
A more sophisticated approach to risk free betting is to use a matched betting risk free calculator. Experts use this tool to discover such things as the potential profits of their bets, as well as the optimal amount to back and lay. - Bet Up To (But Not Over) The Max. Bonus Value
We do not recommend you bet more than the bonus value.. Any funds wagered over the stipulated maximum risk free bet are not covered by the risk-free promise. Risk free bets also come with odds restrictions, so please reserve your extra funds for a more advantageous bet. - Use Expected Value (EV) Calculation
Expected Value (EV) is an equation you can use to figure out how likely your risk free bet will return a profit. Pros scan the terms and conditions of risk free bets, extract a set of variables, and use EV to decide which bonus they claim. - Use an Arbitrage Betting Strategy
Finding an arbitrage betting situation is the only way to guarantee a profit using risk-free bets. The situation occurs when two sportsbooks allow you to use a risk free bet on alternative outcomes. Therefore, if you wager on both outcomes with bets that are risk-free, you are guaranteed a profit.
How to Work Out the Expected Value (EV) of Risk Free Bets
EV is a calculation used by professionals to find out if a bet is likely to return a profit. While it does not guarantee wins, the math has been substantiated.
To use the formula, you first have to gather these variables:
- The probability of winning.
- The sum total you would win.
- The probability of losing.
- The sum total you would lose.
After gathering these variables, you are able to place them into the following equation and figure out the expected value (EV) of your bet:
(Probability of Winning) x (Amount Won) – (Probability of Losing) x (Amount Lost)
Ultimately, if your outcome is positive (+), the bonus is likely to be profitable. Whereas, if your outcome is negative (-), the bonus is likely to yield a loss.
Please refer to our following example for further clarification:
Let’s say you wager $200 on a bet with odds of -200. If your bet wins, you will receive $300 ($200 stake + $100 winnings). The implied probability of this bet is 66.7%, but you need to factor in ‘the juice’. Consequently, we can say that the juice brings the probability down to 65%.
Essentially, you are left with a 65% chance you will win $300 and a 35% chance you will lose $200. With all of the variables being collected, we can now enter them into our EV equation:
Probability of Winning (0.65) x Amount Won ($300) – Probability of Losing (0.35) x Amount Lost ($200) = Expected Value (125)
As you can see, this hypothetical example returned a profit of 125. As this is a positive value, you can expect this bet to return a profit (in most cases).
How to Use Arbitrage Betting to Guarantee Risk Free Bet Wins
To start, you need to find two sportsbooks allowing you to wager your risk free bets on alternative outcomes. Arbitrage situations are more common when at least one sportsbook offers an ‘odds boost’ offer, so keep your eye out for this.
Here’s an example of how it works:
Let’s say that you sign up to DraftKings Sportsbook. In the evening, the LA Lakers are playing the Memphis Grizzlies, and you realize that DraftKings have the Lakers +150 to win. While at most sportsbooks the Grizzlies are -200 to win, you find that at PointsBet Sportsbook, there is an odds boost offer that changes the odds to +150 for the Grizzlies to win.
When you do the math, you realize that you can win risk free.
Here’s the breakdown:
- DraftKings SB allows you to bet on the LA Lakers to win at +150.
- PointsBet SB offers an odds boost, allowing you to bet +150 on the Grizzlies to win.
- Betting, for example, $500 on alternative outcomes will yield the following results:
If the LA Lakers win: $500 X 1.5 = $750- If the Memphis Grizzlies win: $500 X 1.5 = $750
If the LA Lakers win: $500 X 1.5 = $750After you factor in that one of these bets has to lose, you realize that you are still left with a significant profit. Providing the match doesn’t end as a draw, you will win a sum-total of $250 in risk-free profit.
FAQ
Essentially, you will be given the chance to make a bet. If your bet loses, you will be reimbursed with bonus cash – giving you another shot. If your bet wins, you can take your winnings. For more information, please check out our section on What is a Risk Free Bet?
Risk-free betting is a general term that can refer to a whole host of bonuses and promotions offered by online gambling sites.
When players search for risk-free betting, they are usually trying to find deals for the following types of bonuses:
- Risk Free Bets – Offered by online sportsbooks, this type of bonus is a promise to reimburse you in bonus credits if you fail to win with your first bet. Please go to our section on What is a Risk Free Bet? for more information.
- Risk Free Play – Offered by online casinos, you will be given cashback on losses over a set period of time. Please visit our online casino bonuses page for more information.
Ideally, you will use an Arbitrage Betting Strategy. If such an opportunity isn’t available, please refer to our How to Win Real Money with Risk Free Bets to find helpful tips and tricks to maximize your chances of winning.
As we explain in our section on What is a Risk Free Bet?, risk-free bets are not entirely without risk.
If you want to gamble without risk, you have two genuinely risk-free options (albeit at online casinos):
No Deposit Bonuses
You will receive bonus credits after creating a new player account. Real money can be won upon fulfilling the terms and conditions.
No Deposit Free Spins
You will receive free spins eligible on slot games after creating a new account. As before, you can win real money by fulfilling the T&C’s.
For those interested, please visit our No Deposit Bonuses page or No Deposit Free Spins page respectively.
It depends. Every risk free bet will come with its own terms and conditions.
Generally, you can distinguish between two types of risk free bet:
- Cashable – Upon fulfilling the terms and conditions of your bonus, you will be able to withdraw the bonus amount as well as your winnings.
- Non-Cashable – After you fulfill the terms and conditions of your bonus, you are eligible to withdraw your winnings. After making a withdrawal, the bonus amount will be removed from your account.
No, not exactly. We prefer to think of ‘risk free bets’ as a second opportunity to win. Any time you make a deposit and wager real money, there’s a chance you will lose. Risk free bets do not remove this chance, but will reimburse you with bonus credits if you fail to win with your first bet.
Please go to our section on What is a Risk Free Bet? for more information.
Yes, of course! There are two routes to winning real money with risk free bets:
- You win with your first real money bet.
- You fulfill the terms and conditions and convert your bonus cash into real money.
For expert tips and tricks that maximize your chances of winnings, please check out our section on How to Win Real Money with Risk Free Bets.
There are many good reasons, but the most important is that you get a second opportunity to win for free.
For a more balanced overview of risk-free bets, please check out the following table, which goes over the pros and cons of claiming:
Higher chances of winning. - You get a second chance to win.
- Terms and conditions.
- Not exactly ‘risk free’.
