If you are new to the world of sports betting, you may not be familiar with the term risk-free bet. It is a type of bonus that many bookmakers offer to customers to entice them to either open or retain an account with them. This article will look at risk-free bets and how you can find the best offers. We’ll also give you some risk-free bet tips that you can use to help you formulate more successful betting strategies.
What is a Risk-Free Bet?
Defining a risk-free bet is actually pretty simple. A risk-free bet is a wager where you will have your stake refunded if your bet loses. You will usually receive the ‘refund’ as an extra bet rather than cash, although occasional bookies have offered cash refunds from time to time, though this is very rare.
Offering you a bonus bet refund does not cost the bookie anything but also allows them to appear very generous to their customers. A risk-free bet is sometimes offered to customers as an incentive for them to bet on certain events too. This is common when mainstream sporting events like soccer’s World Cup or cycling’s Tour de France are taking place, but it is becoming more widespread in esports betting too.
This makes it a good idea to look out for risk-free bet offers when major esports tournaments like the DreamHack or the League of Legends World Championship are taking place. If you are astute and keep your eye on a good range of bookies, you can pick up some good offers this way.
Types of Risk-Free Betting
Plenty of bookmakers, whether esports specialists or not, will try and tempt customers to open accounts by offering bonuses. You must always exercise a degree of caution when evaluating these offers. It is important to remember that when a bookie offers what they call a ‘free bet’ it is not ‘free’ at all.
An extra bet will always require you to deposit money into your new account and, usually, to place a bet of a certain size before you receive your extra bets. You can only claim your ‘free bet’ when you have spent this money, so it is important to realise that it is not a ‘free bet’ at all. You need to be aware of this when it comes to checking out bonuses and evaluating which offer represents the best value for you.
Here, we’ll look at some different types of bets that you can use if you have picked up a risk-free bet bonus.
Esports Match Betting
This is a very simple form of betting where you place a wager on which of two teams will win an esports match. In football and other sports, this type of bet is sometimes known as a 1X2 bet, where you can bet on one team to win, a draw, or the other team to win. Most esports matches can’t end in draws, so you are basically picking a winner.
Regarding esports betting and betting bonuses, it is better to wager like this in the latter rounds of esports tournaments, as favourites tend to dominate in the early rounds. Of course, you can make betting on favourites more lucrative by using a type of bet known as an accumulator.
Accumulators are a Good Form of Esports Betting
An accumulator is where several individual bets are combined into one bet on one betting slip. The esports odds from each bet are multiplied, so accumulators can potentially bring in big wins. It is important to remember that if one bet on the accumulator loses, the whole bet slip loses. You are never guaranteed a win in any form of betting, and accumulators are no different.
But accumulators are very useful if you want to bet on a series of favourites in the early rounds of esports tournaments. Favourites almost always win in these early rounds, and you can reap some good rewards by combining three or more of these bets into an accumulator.
As with any betting, you must make careful selections when choosing your markets. Never rely on instinct or blind luck when it comes to choosing bets. Use your knowledge of the game in question and research recent news stories about the teams and players on whom you are betting.
Look out for Live Betting Options
Sometimes you may pick up risk-free bet tips that can be used for what is called live esports betting. This is sometimes also referred to as the aspects explained below.
How to Pick the Best Esports Betting Sites for Risk-Free Bet Offers
The Cash-Back Bonus Versus the Free Bet
The bettor benefits more from cash-back risk-free bet insurance because they are guaranteed to receive a portion of their capital back if they win. Bettors only get their earnings back on winning free bets; the initial wager that they placed is not returned to them.
Highest Dollar Risk-Free Benefit
In an ideal environment where gamblers have access to a sizable bankroll, they should seek out risk-free wagering opportunities with the highest possible maximums. The value of a $1000 risk-free offer is significantly higher than that of a $200 risk-free offer.
Bettors who want good odds should hunt for risk-free betting sites that give the biggest payouts for the risk-free bets they like to play the most. When betting $1000, the difference between getting paid out at +1100 and getting paid out at +1000 is $100. Check out reviews too find out which platforms offer the best esports betting odds.
Interface That Is Simple To Use
Punters should search for betting apps with user-friendly interfaces because they are the most likely to be downloaded and used. There is no situation more frustrating than one in which you cannot locate your desired wager due to the app you use having a bad design.
How to Place Qualifying Wagers for a Risk-Free Bet
Because the process of registering for risk-free betting offers varies from site to site, you should always check the terms and conditions before registering for anything. In general, the following are the procedures you need to do to ensure that you acquire a bet that does not include any risk:
- Create an account: You will need to provide your personal information to create an account, like when creating a Bet365 account.
- Opt-In: To make your risk-free bet, some websites demand you to first opt-in.
- Place your wager since your first wager’s outcome will determine whether you qualify for the risk-free bet promotion.
- Collect your winnings: If you win, the amount of your win will be added to the balance on your account.
- Time Limit: You are required, in most cases, to utilise your free bet within a certain number of days of suffering a loss to receive it.
- Withdrawal: If you like the platform, you should keep some money in it, but at the very least, you should withdraw some of your earnings to use for additional risk-free offers so that you may build up your bankroll.
Some of our favourite sports sites like Betway offer some form of esports risk-free bet. So, check our Betway review to learn how to open a Betway account and take advantage of their many bonuses.
Risk-Free Bet Strategy
Risk-free bets are easy to comprehend and utilise. But if you want to get the most out of them, you should think about putting them to use in the following situations:
Opportunities for Arbitrage that Involve Risk-Free Bets
- You can assure that a situation where there is no danger occurs when you combine this kind of offer with arbitrage betting. You will have to conduct some study to accomplish this task since you will be searching for suitable arbitrage possibilities by examining the lines offered by various other books.
- Even better, you can maximise your potential earnings by combining a risk-free deal from one betting site with an odds enhancement promotion from another betting site.
- Imagine that the Cleveland Browns are a -140 (1.71) betting favourite to win their game against the Houston Texans. The Browns now have odds of +110 (2.1) after participating in the odds boost promotion, while the Texans now have odds of +110 (2.1) on the sportsbook with a risk-free bet.
- You place a wager of $500 that does not involve any risk on the Texans and choose to take the odds enhancement offered on the Browns, betting the same amount. If the Texans come out on top, you will collect $550 from one book and lose $500 from the other, resulting in a net profit of $50. If the Browns come out on top, you will once again end up with a profit of $50; however, as a result of the loss of your risk-free bet, you will also receive a free bet or site credit in the amount of your choice.
Placing a Bet with Another Book That Is Risk-Free But Is on the Opposite Side of the Game
- Arbitrage is an approach that is comparable to this one. However, it is not as effective. You will not need to do as much research because you won’t be searching for the most profitable lines, but there is no assurance that you will make a profit.
- Consider the following scenario: as part of your risk-free bet, you wish to place a wager of $1,000 on the Boston Red Sox to win against the New York Yankees at odds of -110. In the meantime, locate another book that allows you to place the identical wager of $1,000 on the Yankees at the same odds.
- In either case, you walk away with a profit of $909.09 on one wager and a loss of $1,000 on the other. However, if you want to increase your chances of future success, you would prefer that the risk-free wager results in a loss rather than a win because this will result in a free wager or site credit.
- For instance, if you bet on the Yankees and they win, you will get a risk-free wager for $1,000. After that, you may put this on another market, which would provide you with the opportunity to make some money. You would have to pay $91.91 to have a chance of winning a free bet worth $1,000, but you would only have a 50% chance of doing so.
Placing a wager on the other side of your subsequent free bet with a different online sportsbook
- You can hedge your loss on a risk-free bet if the bet ends up losing, and you receive a free bet as a result of the loss. You can accomplish this by placing a cash bet on one side of a two-way market and using the free bet on the opposite side of the market.
- The amount of your free bet and the chances on either side of the market are two factors that determine how much you need to hedge. You can use our Free Bet Calculator to determine that, rather than wasting time trying to figure it out on your own.
Placing a Risk-Free Bet on Longshots and Taking Advantage of the Free Bet That Follows
- Ironically, the expected value of risk-free bets is best when they are placed on events with higher uncertainty. You can place a risk-free wager on a long shot since you know that even if you lose, you will receive a free bet at least.
- Even if you end up getting a free bet due to your loss, you should still gamble that money on a long shot because you can only win the profit from the free bet and not the amount you originally wagered.
- The following is a mathematical explanation of why placing a free bet on underdog results in the highest expected value:
- Place a free bet of $1,000 on the market with odds of +100 (2.00). In this situation, you have a one-half probability of winning $1,000 (not including the vig); hence, the value you can reasonably anticipate receiving is $500.
- Put a free wager of $1,000 on the market that has odds of +500 (6.00). Your expected value is $833.50 given the current circumstances, given that you have a 16.67 per cent chance of winning $5,000 (not including the vigorish).
- Put a free bet of $1,000 on the market with odds of +1000 (11.00). Your expected value is $909 given the current circumstances, given that you have a 9.09 per cent chance of winning $10,000 (not including the vigorish).
Taking No Chances by Placing Bets That Are Guaranteed to Win
- Aside from using your risk-free bets to hedge your bets, the most secure approach to use your risk-free bets is to wager on the favourite. Naturally, the larger the favourite, the shorter the odds, which indicates that the amount of money you can win is also lower. If you place a risk-free wager of $1,000 and win, you will collect a profit of $909.09, $500, or $200, depending on the odds you were given.
- In other words, you will be treating your risk-free bet like any other available betting options, with the extra benefit of having a safety net at your disposal if it is unsuccessful.
- Be aware that if it does fail, you will lose money overall if you place the subsequent free bet on a favourite as well because you will only win the potential profit from a free bet and not the stake. If it does succeed, however, you will win the potential profit from a free bet. If you lose, you will receive a free bet, which you will need to use on a team with positive odds, often known as an underdog, to make any profit.
Tips for Wagering with an Esports Risk-Free Bet
Whether you have picked up a good risk-free betting bonus, certain ideas hold true for all sports betting, including betting on esports games. Here are three principles to hold to when you are betting on esports. If you stick to them, you will not only make better use of your bonus but also be more successful when it comes to betting with real money.
1. Always Do Your Research
While many newcomers to betting may not associate placing wagers with doing some kind of research, experienced punters all know that knowledge is power when it comes to betting successfully. The best way to pick up risk-free bet tips is to know as much as possible about your favoured esports teams and players.
The more knowledge that you have about recent results and performances, the better you will be able to assess the odds on offer to see what makes for a good bet. It helps if you focus on a handful of specific teams and players, too, as this can give you a laser-like focus when it comes to picking out the best bets. The more you know, the more likely you are to place winning bets.
2. Never Let Greed Cloud Your Judgment
One thing that every esports punter should avoid is greed. It is a familiar feeling to many gamblers, especially if you have successfully used a betting bonus to win big. You begin to feel invincible, like none of your bets can ever lose. This is dangerous. You end up placing big bets on long odds markets, something which is a recipe for disaster.
If you’re going to bet on CSGO, remember that long odds do not guarantee a win, and just because you have wagered a large stake doesn’t mean you will definitely win. Greed clouds your judgment and leads to bad decisions. Never get greedy when you are indulging in a spot of risk-free betting.
3. Never Chase Losses – Have a Rest Instead
More experienced sports betting punters may well be familiar with the term chasing losses. If you are a newcomer to the world of sports betting and have never heard of this term, you must take it to heart. Chasing your losses is where you try and compensate for a series of losing bets by placing more bets with higher stakes at longer odds.
Anyone should be able to see the flaws in the logic here, even if they are not as experienced as sports bettors. If you place bigger bets at longer odds, you are simply increasing your chances of losing a lot of money. Chasing losses tend to happen when you are feeling frustrated or angry, so stop betting if you start to feel those emotions.
Benefits of Risk-Free Betting
If you do not have a huge amount of cash in the bank for esports betting and you register a betting account with an offer of a risk-free wager, you have the potential to considerably raise the amount of money in your bankroll. If your first wager is successful, you will have the opportunity to make a big profit. Even if you lose your bet, the free bet that you get in return gives you the chance to win back large amounts of cash.
Excellent for Wagers You Have Positive Feelings About
Bettors will occasionally come across a wager in which they believe they have a strong advantage and would like to place a larger wager than they normally would on it. If you bet more than you normally do, taking advantage of promotions that provide risk-free wagers can help mitigate some dangers. This is especially true in esports games like Call of Duty betting and Valorant betting.
Due to the mathematical nature of risk-free betting, even a cave dweller would have a good chance of coming out ahead most of the time. When it comes to risk-free bet offers, sportsbooks do not anticipate making a profit in the near future. They offer risk-free bets to entice clients by establishing brand loyalty, with the expectation that you will give the sportsbook your profits in the long run. Customer-friendly betting apps and sites like Dota 2 betting sites are great examples of what you should look for.
What are the Merits and Demerits of Risk-Free Bets?
Merits of Wagers With No Risk
The primary advantage of risk-free bets is that, in the event that your initial Overwatch League betting wager is unsuccessful, you are awarded a “second chance.” This allows you to put a huge wager (if that’s what you want to do) and reap the rewards if you win while also giving you the possibility that you won’t lose all of your money if the bet is unsuccessful.
For instance, if you place your initial wager of $1,000 on an event with odds of +100 (2.00) and you win, you will instantly have doubled your money, which you can either take or use to continue betting.
Demerits of Wagering Without Taking a Risk
The primary disadvantage of risk-free bets is that, in the event that you also lose your free bet, you stand to lose all of the money that you wagered on your first bet.
To illustrate, if you were to place a bet of $1,000 and lose it, then you get a free bet of $1,000 and also lose that, then you have lost a total of $1,000 and are down $1,000.
Because of this, risk-free bets that provide the refund in the form of multiple free bets or as site credit are preferable because you have more than one opportunity to win some of your money back.
Terms and Conditions for Risk-Free Bets
Risk-free bets nearly always come with stipulations and restrictions associated with them. The conditions mostly pertain to the things on which they can be utilised. In most cases, the operator will outline the betting market you are permitted to utilise and the minimum odds required for it.
In addition, before you can cash out any bonuses, you will need to meet several of the site’s requirements. You can think of these wagering requirements as a multiplier indicating the number of times bonus money must be earned before any profits can be withdrawn.
Because some operators can choose particularly stringent standards, it is essential to take note of these prerequisites. A wager equal to or greater than five times the bonus sum is typically required.
There are occasions in which risk-free bets are broken up into several amounts. A free bet may include four different bets, each of which must be placed within a certain period and on specific betting markets.
If you are fortunate to win a free football bet for $500 with no first deposit required, you should pause and read the terms and conditions before moving on.
Various sportsbooks each have their terms and restrictions to abide by. Verify that you are familiar with these requirements by reading the fine print before attempting to collect any prizes you may have won.
The following points are some of the most common terms and conditions.
- Exclusively for brand-new gamers
- One free wager will be awarded to each client, account, address, bank details, and email address.
- Free wagers typically have a time limit attached to them, which is typically 30 days.
- A free bet does not provide for a payout of any kind.
- There can be certain markets that need to meet certain minimum odds standards.
Risk-Free Bets vs Other Betting Offers
Let’s take a look at how risk-free bets stack up against other typical betting offerings that can be found on betting sites:
Risk-Free Bets vs No Deposit-Free Bets
The fact that no risk is involved makes free bets that do not require a deposit one of the most wonderful types of bonuses offered by most sportsbooks. You won’t have to risk any of your cash in order to place a wager, yet there is still the chance that you will come out ahead. On the other hand, the drawback is that free bets that do not require a deposit typically have a relatively little value (generally between $5 and $20), and their rules of use are more stringent.
Risk-Free Bets vs First Bet Matches
In its most basic form, a first-bet match is just an upgraded version of the traditional risk-free bet. You will get a free bet or site credit equivalent to the amount of your first bet placed on the site when you use it. This indicates that you will receive a reward regardless of whether or not the qualifying bet wins. In the meanwhile, the only way to obtain a free bet from a risk-free bet is if the risk-free bet ends up being unsuccessful.
Risk-Free Bets vs Deposit Matches
You will receive a cash bonus as soon as you deposit, without having to do anything else, and regardless of the result of your first wager when you take advantage of matched first deposits, which are preferred over risk-free bets for the same reason. Deposit matches typically range from 20 per cent to 100 per cent of the initial deposit amount, which can be anywhere from $100 to $5,000.
Bets with no risk versus free bets are awarded for meeting certain wagering or other requirements
In addition to receiving free bets from risk-free bets or first-bet matches when you sign up for a new account, you can receive free bets as you progress around the site if you complete specific requirements. For instance, if you made enough wagers throughout a promotional period (for example, a week or a month), the operator might give you a free bet for ten dollars as a prize. These free bets have the benefit of not only being accessible to new consumers but also to those who have been using the service for some time. Sometimes, online sportsbooks will give out a bonus code. You are required to use the bonus code to unlock the bonus.
As can be seen, when it comes to risk-free betting, you have a number of possible betting strategies that you can adopt. While risk-free bet offers have not become too common at esports specialist bookies, you are sure to come across them if you bet on esports at mainstream bookies like Betway Esports or Bet365.
A great source of risk-free bet tips is, of course, Esportsbets.com. At our site, you can access all the latest bookmaker reviews, bonus offer articles and up-to-date betting tips that you need to be a successful esports punter. Make sure you come back here regularly to keep yourself updated about all the latest risk-free bet offers, and we look forward to seeing you again soon!