When is free really free? What really is a Risk Free bet and should you use them?

When is free really free? What really is a Risk Free bet and should you use them?

Since the Supreme Court decision in 2018, when sports betting was legalized on a federal level, the online betting world has become an extremely competitive one for the online casinos and sportsbooks. It is now a huge industry in the US, with new sportsbooks and online casinos popping up everyday. Many offer great sign up deals so it can be hard for a customer to know which one to pick. Here we will break down some of the best offers for a new customer. 

Lets face it, we all love free stuff, but when is free really free? Is there a catch? Let’s take a look.

Risk Free Bet 

The risk free bet is usually the most popular sign up offer and for good reason. Risk-free bets means a customer gets the chance to place a bet and get a full cash refund if it loses. If you do place a risk-free bet that wins, you do not receive a refund – you only get to keep your winnings. Risk free bets can vary in size, from $20, all the way up to a $1,000 risk free bet.

These days every operator offers an attractive welcome offer but what makes a risk free bet such an attractive one is that usually most risk-free offers pay refunds as free bets, not in real cash. A risk-free bet means you can get a look at the platform, understand the process and make your first bet unconcerned about losing any real money. Since it’s quite literally free money, some bettors choose to alter their betting strategy and use risk-free bets on longshots or parlays with high value returns rather than taking the safer route.

Some of the biggest names in the industry – FanDuel, BetMGM, DraftKings and Caesars are all looking to offer free bets to help grow their customer base

No-deposit bonus

A no-deposit bonus is exactly what it says it is. A small amount of bonus funds that do not require you to place a deposit. Simply, it is free money to gamble with. No-deposit bonuses are usually low in value but they remain popular with bettors. They give players the chance to look around the online casino and get a feel for the different types of casino games and test them out before committing their cash. 

One of the attractions of a no-deposit bonus is it gives the player the ability to try out multiple games rather than placing a one-off bet. The customer is given site credit – while a bettor will generally need to use a free bet all at once, site credit can be divided up and used on multiple wagers.

Free Bets 

Most online casinos will advertise an attractive sign-up bonus which offers customers free bets as a reward for opening a new betting account. After depositing an initial sum or placing a wager, a free bet will be credited to the bettors account. Often, a free bet will match the stake of your first bet although depending on how much you bet, this is not always the case. 

However, with a free bet – that money cannot simply be withdrawn as cash. For example, if a bettor wagers a $10 free bet and profits $10, they will have gained $10 that they can later cash out.  


With the huge amount of companies and sign-up deals around, you won’t be short of options. No matter if you are looking to play online, or to have a cheeky wager, there is plenty of options available to customers. All of the major companies offer a variety of great sign-up offers to new customers. Take your time looking for the right one for you before making your wagers. However, with a risk free bet, you can’t really go wrong. 

Photo by Mohamed Nohassi on Unsplash