Sports betting is massive around the planet and something many people love to get involved with. This is now also true in the USA, as the 2018 US Supreme Court ruling on sports betting paved the way for legalized gambling on games in many states.
The huge choice of secure online sportsbooks and mobile apps to use is a big reason for sport betting’s popularity, as is the range of markets to bet on. The superb bonuses sportsbooks offer to their customers also helps and it is therefore easy to see why sports betting has grown so much recently.
One type of bonus offer you might see is a risk-free bet. But what is it, exactly?
Risk-free bets – what are they all about?
This kind of bet gives you something back in return, should your initial bet lose. This can vary from sportsbook to sportsbook, so it is crucial to find the best risk free bets to use. Typically, though, the reward you get is something like a free bet or a site credit.
Most sports bettors prefer to have site credits or cash risk-free bets to enjoy. This is because this sort of risk-free bet sees you get your stake back plus any profit, should it win. Although a free bet is good, you do not usually get your stake back with these. Instead, you usually just get your winnings, which is not as appealing.
Where can you find this type of bet?
Whether betting on how the Loyola Ramblers will do in 2021/22 or wagering on other sports such as soccer, football or baseball, the good news is that risk-free bets are very easy to find online. Many sportsbooks will offer them to players as a reward for signing up with them. Although the sportsbooks may not make money from the free bet itself, it helps them to attract customers in a fiercely competitive market.
The bookmakers hope customers will continue betting with them after using their risk-free bet, and make money in this way. In essence, these bets are a win-win for everyone involved. Sports bettors get a risk-free wager to enjoy, while sportsbooks have a way to stand out from the crowd.
It is, of course, essential to fully research any sportsbook that has this type of offer before signing up with them.
How can you make the most of risk-free bets?
The key to doing this is using the right kind of strategy when betting. The first good tip is to maximize your risk. One way of doing this is by betting the max amount you can on the team/player who is not favorite to win. This either sees you make big money if your bet wins or get a free bet if it does not. Either way, you come out of it in good shape.
Although it is worth betting as much as you can on a risk-free bet, another good tip is putting down no more than 5% of your bankroll. This helps to protect your bankroll should your initial bet not win. The last excellent strategy to use with these bets is known as arbitrage. This simply means placing bets at other sportsbooks to cover all outcomes on the same match. If you get the right odds when doing this, you are guaranteed to profit.
What other benefits do risk-free bets come with?
We have already noted that this sort of bet reduces your risk when betting by giving you something back if you lose. But what specific benefits can it offer sports bettors?
The first to know about is how great it is for building up your betting bankroll. This is especially true if you open a sports betting account without a lot of money initially. By placing the risk-free bet wisely, you could win big and boost your bankroll if it comes in.
Even if it doesn’t, the free bet you might get in return could make you money. A risk-free bet also means you can put down bigger stakes than usual on bets you feel confident about – but without it stressing you out. In addition, this type of bet simply brings more interest to your sports betting.
Risk-free bets are worth looking out for
If you were unsure as to what this type of bet was, where to find it or what benefits it could bring, hopefully this explanation has helped. As with other bonuses offered by sportsbooks, they are a good way to make betting more exciting and are a rare chance to get something for nothing from the bookies!