Free Bets Guide 🎖️ March 2023

Free bets are the most popular and desired bonuses that are offered by sportsbooks in the US. Some of the brands might also call them bonus bets or bet credits. When you are betting online, make sure you get the maximum bonus when starting out with online gambling. We will show you how to get the most of your free bet bonus.

Free Bets Guide

Learn how to get the most out of free bet bonuses from the best online sportsbooks in the US.

⭐ What Are Free Bets

Free bets are sports betting promotions where sportsbook gives you an opportunity to make certain amount of bets without using your own money. Due to the popularity of the betting bonus, the majority of the sportsbooks have a long list of terms and conditions attached to it.

All of the brands that offer free bets bonuses, usually they specify the amount of free bets and their value. Also, in the most of the cases there is a wagering requirement that needs to be fulfilled before you can withdraw you winnings. So make sure to read through T&Cs before picking the free bets offer, since some of them might require you to wager thousands of dollars.

⭐ What Are Risk Free Bets

Risk free bets are sports betting promotions where your first bet is insured. This means that if you lose your initial bet, the sportsbook will return your stake in the form of free bet or site credit. You then need to wager through the site credit or free bet bonus, before you can withdraw your winnings. Usually, the wagering requirements for risk free bet offers are only 1x, however there are usually required minimum odds that have to be used.

⭐ Risk Free Betting Tips

A risk free bet means that your wager is returned to you in the form of free cash bet or a bonus bet. These bonus bets always have a wagering requirement so there are few ways to maximize your risk free bet strategy. Note that some of these tips are mutually exclusive, meaning you can’t employ both of them.

Hedging Bets

Hedging bets at competing sportsbooks is a popular strategy among bonus hunters. Basically this means that you place a hedge bet against your risk free bet on another sportsbook in a manner that one of the picks wins. You then either withdraw your winnings or keep playing with your free bet credits.

Remember to check the Terms & Conditions of the bonus before employing this method. Betting is never completely risk free. If you choose a free money offer with more than 1x wagering, this strategy is no longer viable

Line Hopping

This method requires some research. However, sportsbooks often have contrasting lines on smaller games and sports. It is possible that you could find a +110 line for both sides of a given event from different sportsbooks. Then just claim the risk free bet offers from both sportsbooks and bet them on the opposite sides of the line. You’ll end up with a net profit + a free bet offer or site credit.

Parlay Bets

If you are a bettor who has more than a 50% success rate with straight bets, you might want to consider placing a 3-4 leg parlay or same game parlay with your risk free bet for a big pay day. You should only do so with a site like FanDuel that gives you site credit and not free sports bets. If you are profitable bettor, you can make your own money back over time with the site credits even if your risky parlay loses.

⭐ First Bet Insurance

A bet insurance is another name for a risk free bet. Even though most operators talk about risk free bets, it’s up to the betting app to choose what name they use. If you run into a bet insurance promotion when you bet online, make no mistake. The offer works exactly like a risk free bet: you can get your first cash bet back in bonus money but your initial stake is not returned to you as withdrawable cash.

⭐ What Are No Deposit Free Bet Bonus Offers

Open a player account on any online betting sites, and you will receive a welcome bonus from the sportsbook. Free bets are what the packaging says. You get a free wager to place on a sporting event, and you get your winnings in real money, as simple as that.

⭐ No Deposit Bonus Free Bets for Existing Customers

Most of these offers are for new customers, but online sportsbooks sometimes give free bets for existing customers as well. These offers are towards a major sporting event or apply only to selected games.

  • Start of the Premier League
  • Champions League final
  • March Madness
  • Super Bowl
  • World Series
  • Stanley Cup finals
  • NBA Playoffs
  • UFC Championships
  • PGA Masters

⭐ Deposit Bonuses for Sports Betting

A regular sign up bonus can be considered as a free bet. These ‘deposit free bets’ are, in general, bigger than the normal free offers. Your first deposit is matched by the sportsbook, so you get double the amount to play with. Online betting sites offer reload bonuses to existing customers too.

Deposit Bonus Offers Explained

You have to read the terms carefully, as always, but this is especially the case with deposit bonuses. Here are the key things to consider when selecting your new customer free bets:

Wagering requirements

Wagering or rollover requirement means that how many times the bonus amount you need to wager with qualifying bets. This means that some promotions have terms defining the minimum odds to count as a qualified bet. Only qualifying bets to contribute towards the rollover requirements. Before you have met the requirements, your accoung balance will have withdrawal restrictions.

Minimum deposit

Minimum deposit (deposit min) defines the amount you need to deposit in order to receive the bonus. When you have made a qualifying deposit and bonus will be added to your sportsbook account.

Bonuses expire

There is always a time frame when the bonus is valid. You have to claim your offer before it expires and make enough of matched bets towards the rollover requirement. Usually, these bonuses have from few to 30 days expiry time. This also highlights the importance of checking the offer terms when you evaluate different sportsbook bonuses. It’s worth noting, that the bonus is fulfilled only after your last bet expires, not when you place it.

Qualifying Wagers

Always read the fine print. Deposit match bonuses might have strict terms on what you can and can not bet. For example bonus bets on player props might not be allowed. This is same for every risk free offer, free bet, and a deposit match.

⭐ How to get Most out of your Bonus

Online sports betting is a risky business, but it can be profitable if you know the tricks of the trade and closely follow sports. By maximizing your bonus money, you can get off to a good start.

  1. Choose multiple offers: If you want to get most bang for your buck, you take advantage of multiple welcome bonus offers.
  2. Look for low wagering: By placing cautious bets with offers that have low wagering requirements, you can easily double your bankroll before you move on to more risky bets.
  3. Take care of your betting bankroll: We fully support responsible gambling, and even though we want you to win cash, we want you to manage your bankroll even more.
  4. Hit that big parlay: If you are an experienced sports bettor, you already know your way around straight bets. Bonus offers are therefore free money on top of your existing bets. By using them to hit that elusive big parlay costs you nothing, but you might really win big. Anyway, your losing wager is returned to you in site credit.


1️⃣ What are free bets no deposit offers?

Free bets are bets that an online betting site gives either on sign-up or when you've been their customer for some time. Typically an online sportsbook matches your wager with a completely free bet of the same size. The stake is pre-determined.

2️⃣ What are risk free bets?

Risk free bets save you from losing your bet altogether. When an online sportsbook offers a risk-free bet, you'll get refunded if you miss your bet. To gain the best value, you should sign up & deposit at as many online betting sites as possible.

3️⃣ Is risk-free bet the same as a free bet?

It's not. When you get a risk-free bet, you'll need to deposit and bet first. If your bet doesn't hit, you'll get your stake refunded, and you can bet again. With your free bet, you can bet for free. These offers are often much smaller than risk-free bets.

4️⃣ Do I need bonus codes for my bonus bet?

Most free bet offers require you to insert a bonus code. However, we always list the required bonus code next to the bonus of your choice, so you'll always know if you need a bonus code.


Riku is the Editor in Chief at BonusFinder and is a global expert in casino, sports betting and poker.