The Best Betting Sites with Free Bets
Who doesn’t like getting something for free? Well, if you are a sports better, you can take advantage of some freebies with betting sites with free bets. Typically, free bets are offered by a sportsbook as a welcome bonus but there are also free bets for existing players.
Free bets are a win-win situation for players, since if you lose the bet, you get the funds back and if you win, you keep the winnings. You need to be aware that if a free bet from a welcome bonus is a loser, you will get the refund in site credit and not cash, so you can’t withdraw the winnings. You also need to know the difference between a risk-free bet and a free bet.
Risk-Free Bets vs. Free Bets – What’s the Difference?
A risk-free bet is one that is associated with a welcome bonus while a free bet is for existing players. When a sportsbook offers a risk-free bet, they will refund your first bet if it’s a losing one. So, if you wager $200 on your first bet and it loses you will get back $200 in bet credit in your account.
A free bet is one that you get for free as part of a promotion or if you refer a friend to the sportsbook. If you get a free bet of $10 and bet on an NBA game with odds of +200 and you win $30 ($10 stake +$20 profit). However, the sportsbook will not pay out the stake as part of the free bet, so you will get $20. It depends on the book but for free bets as they may allow you to withdraw winnings or they will give you the winnings in bet credit.
Free bets are always a lower amount than risk-free bets. Typically, you’ll find free-bets of $10 or $20 while risk free bets can be $1,000 or more. The reason is that for free bets the sportsbook is giving you money to wager with. For a risk-free bet, you have to make a deposit and use that money to make your initial bet. To show this point let’s check out BetRivers and FanDuel sportsbooks, which both have welcome offers with free bets and risk-free bets.
BetRivers
- Welcome Offer – Risk-free bet up to $500
- Promo – Place three of more NBA Same Game Parlays of $10+ during the week and get a $10 NBA Free Bet
FanDuel –
- Welcome Offer – No-sweat (risk-free) first bet up to $1,000
- Promo – Make a bet of $10 on a Same Game Parlay for a Thursday NBA game shown on TNT and receive $10 in site credit
Free Bet Terms and Conditions
For any type of promo, it is always advantageous to check the terms and conditions and this goes for free bets as well. Things that you need to check out for free bets are:
- Do free bets expire?
- Is there a minimum odds requirement?
- What does the sportsbook do if the free bet is a tie?
- Are there market restrictions? (Can you use a free bet on other markets such as parlays and profit boosts)
- If you win a free bet, can you withdraw winnings or are they given in bet credit?
Top Free Bets at US Sportsbooks
Here are some of the best free bets currently offered at licensed US sportsbooks:
- BetRivers – Risk-free bet up to $500
- BetMGM – Risk-free bet up to $1,000
- Caesars – Risk-free bet up to $1,250
- FanDuel – No-sweat (risk-free) first bet up to $1,000
- PointsBet – Up to five risk-free bets up to a total of $500
FoxBet – Risk-free bet up to $500
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