$1,000 Risk-Free Bet Bonus with US Sportsbooks February 2023

Sportsbooks $1,000 Risk-Free Bets

Thinking of opening new betting accounts? Well, there couldn’t be a better time. As the US sports betting market continues to go from strength to strength, with more legalized sports betting operators than ever before, now is the time to sign up and lock in those risk-free bets.

Right now, there are multiple online sportsbooks offering new players the chance to get their hands on $1,000 in free bets. We’re going to take a look at the best risk free bets currently being offered by online sports betting operators in the month of November.

Betting Sites with $1,000 Risk-Free Bets

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No Sweat First Bet Up To $1,000
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Promo Code: GAMBLEUSA
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Up To $1,000 In Bonus Bets
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Promo Code: GAMBLEUSA
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Up To $1,000 Deposit Bonus
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As touched on above, sports bettors have plenty of choice when it comes to risk free bet offers. The US sports betting landscape is currently awash with such free bets and promotions.

The question is which online sportsbooks are the best? Fortunately, we’ve done the hard work and narrowed it down to a select few. This group of online sports betting operators all currently offer a $1,000 risk free bet bonus.

#1 FanDuel $1,000 Risk-Free Bet

New bettors looking for some early risk-free action are not likely to be disappointed with what’s on offer at FanDuel, that’s for sure.

If you sign up for an account, using one of the links on this page, then you’ll be rewarded with a $1,000 risk-free bet.

How does it work? That’s a good question. This promotion, referred to as the ‘No Sweat First Bet’ by FanDuel allows players to place their first bet safely in the knowledge that if it loses, they’ll be refunded in free bets. In other words, if your first bet loses, you’ll get a second bet, of the same value, on the house.

Here’s what you need to do:

Firstly, follow one of our links, which should take you straight to the registration page at FanDuel. If it does not, from the homepage, simply click the green ‘Join Now’ button, which is located in the top right corner.

From the registration page, all you need to do is enter your email, select a username, and choose a password. You’ll then be prompted to enter a sportsbook promo code. Now, this is the best bit. As long as you’ve followed one of our links, no promo code is necessary.

FanDuel Create Account

After you’ve done the above, you’ll need to fill out some personal information, which should only take a minute or two, then you’re good to go.

Once registered, make a deposit of at least $10 and place a sports bet. If you lose, FanDuel will give you a free bet.

If your first bet does lose, use your free bet, add a selection to your betslip, and then tick the box that says ‘Use free bet’, as shown in the image below.

Bet Type Selection

The great thing about this offer is there are no wagering requirements. Just place a first bet of up to $1,000 and if it loses, you’ll get a free bet of the same value to go again.

T&C’s:

  1. Must be registering from a state where FanDuel is legal, such as New York, New Jersey, Pennsylvania, Illinois, West Virginia, Iowa, Tennessee, Michigan, Arizona, Connecticut, or Louisiana.
  2. You must make a first deposit of at least $10 to qualify.
  3. There are no wagering or play through requirements.
  4. Free bets must be used, they cannot be withdrawn as cash.
  5. Any free-bet winnings can be withdrawn as cash.
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No Sweat First Bet Up To $1,000
  • Promo Code: NO CODE REQUIRED
  • Fast & Secure payouts
  • Multiple bet types

#2 BetMGM $1,000 Risk-Free Bets

Undeniably one of the top dogs when it comes to US sports betting, BetMGM offers new players a sizable welcome offer.

When registering for a new account, customers can take advantage of a risk free bet promotion that allows them to bet up to $1,000 without having to sweat. Why? Because BetMGM will issue a free bet of the same amount if the first bet is not a successful one.

Via either the mobile betting app, which is available for both users on iOS and Android, or the desktop site, simply register for a new BetMGM sportsbook account, and use the promo code ‘GAMBLEUSA’, make an initial deposit of at least $10, and the risk free bet will be yours.

What does this mean exactly? Well, for example, let’s say you wanted to bet $100 on the Miami Dolphins to beat the Buffalo Bills. You’d register for an account at BetMGM, deposit $40 and place the $40 on the Dolphins to emerge victorious. Sadly, things don’t go to plan and the Bills prove to be too hard to beat. Normally, this would be a straight loss. However, in this case, it’s fine, as you’ll get a chance to lock in another bet. After your first bet has been settled as a loss, a $40 free bet will be credited to your account.

BetMGM Welcome Bonus

It is important to note that only bets below $50 will qualify for a 100% single free bet bonus. Bets over this amount will qualify for five 20% free bet bonuses. For example, if you deposit $1,000, bet this amount and your first bet loses, your account will be credited with FIVE $200 free bets. You still get the $1,000 back in free bets, it is just credited in five free bets as opposed to one.

These are the terms and conditions:

  1. New players must sign up from a state where they can legally operate. These are: New York, New Jersey, West Virginia, Illinois, Iowa, Indiana, Colorado, Tennessee, Pennsylvania, Michigan, Virginia, Wyoming, Arizona, and Louisiana.
  2. The initial deposit must be at least $10.
  3. A free bet will be issued if the bet you place first is settled as a losing one, up to a maximum of $1,000.
  4. If your first bet is over $1,000, the free bet issued in the event of a loss will be capped at $1,000.
Promo Code: GAMBLEUSA
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Up To $1,000 In Bonus Bets
  • Promo Code: GAMBLEUSA
  • Android & iPhone Mobile Apps
  • One game parlay feature
Promo Code: GAMBLEUSA

#3 DraftKings $1,000 Match Betting

At DraftKings, things are a little different. In actual fact, the offer available at the DraftKings sportsbook, in terms of free bet value, isn’t as good as the one detailed above, though that doesn’t mean it’s not worth taking advantage of.

If you follow one of the links on this page and register as a new user, you qualify for the DraftKings welcome bonus, which provides newly joined players with a 20% deposit bonus up to a maximum of $1,000. You also get a $50 free bet.

The advantage of this is that you don’t need to wait until the bet that you placed first goes down to see if you’ll get a free bet.

Once you’ve joined the DraftKings sportsbook, you must make an initial deposit of $5, though if you want to get the most out of this offer, you’ll want to deposit a little more.

DraftKings Create Account

Let’s illustrate with an example.

So, imagine you’ve signed up and deposited an initial $100. You will receive $20 as a 20% matched deposit bonus. Why? Because $20 = 20% of $100. On top of this you will also receive a $50 free bet to be used at your discretion.

There are certain wagering requirements, though. These are detailed in the terms and conditions below.

Key T&C’s:

  1. Only new customers are eligible. When you create a DraftKings sportsbook account, this must be your first time using any DraftKings product.
  2. The minimum qualifying deposit is $5.
  3. Wagering requirements mean that for every $25 bet, $1 of bonus funds will be awarded.
  4. The bonus is capped at $1,000 and you get $50 free.
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Up To $1,000 Deposit Bonus
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#4 Barstool $1,000 Risk-Free Bet

Barstool have got in on the $1,000 risk free bet action too, so if you’re thinking of signing up to a new sportsbook, then the guys over at Barstool are well worth checking out.

Again, getting your hands on this bonus couldn’t be easier. Simply visit the Barstool sportsbook by following one of the links on this page. The clever thing here is that providing you follow one of our links, you don’t even need to enter a promo code. The hard work has already been done.

Once you arrive at Barstool, register as a new user, which should take a matter of minutes, then place your first deposit.

Once you’ve deposited, just place a sportsbook bet of your choosing. It could be on the NFL, or maybe you’re more into locking in something on the NBA, or perhaps you’re an MLB bettor. Whatever you’re into, simply place your bet, up to a maximum stake of $1,000, and Barstool will refund your stake in full as free bets if your bet is settled as a loser.

Barstool Welcome Bonus

Of course, for you to benefit from this promo, your initial bet must lose, which isn’t great, but such a promotion should allow you to bet with confidence, as you know you’ll get to reload with a free bet if your initial bet goes down.

The important terms and conditions of this $1,000 promo are as follows:

  1. Only new players signing up from the following states are eligible: Arizona, Colorado, Iowa, Illinois, Indiana, Louisiana, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.
  2. Free bets cannot be withdrawn as cash.
  3. If a player wins a bet using their bonus cash, they cannot withdraw instantly.
  4. Winning free bets will be subject to play-through requirements. In this case, you must place one additional bet at odds of at least -200. If this bet wins, you are free to withdraw the cash in full.

What is a $1,000 risk free bet?

Although the whole risk free bet thing can seem a bit confusing at first if you’re a beginner, it’s actually a really simple concept.

It’s just a sportsbook offering a new player the chance to place their first bet, in some cases more than their first bet, without risk. If the bet that they place first loses, an insurance bet of the same value up to $1,000 will be credited.

For example, if you sign up to BetMGM, make your first deposit and then place a bet of $100. If that initial bet doesn’t win, you’ll receive a $100 free bet. Sure, you’re not getting the cash back, but you are getting the chance to reload and lock in another bet.

Risk free bet example with rules explained

Here’s a non-nonsense example of a risk free bet.

For the purpose of this example, we’ll use Barstool. Below is a step-by-step example of the risk free betting process.

  1. First things first, follow one of the links on this page and register for a FanDuel Sportsbook account.
  2. Next up, make a first deposit, depositing a minimum of $10 in the process.
  3. Place a sportsbook bet of your choice.
  4. If the bet wins, you’re free to do what you want with the winnings.
  5. FanDuel will provide you with a free bet (of the same value) if your first bet wins.
  6. If you lose using your free bet, you will have to place another sportsbook bet of the same value at odds of -200 or greater.
  7. If you win the bet that you place with your free bet winnings, this is when you’ll be able to withdraw your funds as cash.

Is the $1,000 free bet cashable?

Unfortunately, the answer is no. You will not be able to swap your free bet offer for cash.

Once you’ve been awarded free bet credits, you must use them to place a bet. If that bet wins, you may be able to withdraw the money in cash straight away, but that depends on the wagering requirements set by the sportsbook that you’re using.

In some cases, once you’ve won a bet using free bet credits, you will be able to withdraw the cash once that bet has been settled. In other cases, you will need to use that money to place another specified number of bets before you can withdraw the winnings as cash.

Before redeeming a risk free bet offer, you should always check the specific terms and conditions, otherwise you may be committing to something that you’re comfortable with.

Tips & strategies for $1,000 risk free betting

Are there tips or strategies for maximizing your risk free betting experience? Absolutely, but first you need to decide what you want.

If you’re just looking to have some fun, then you don’t need to worry too much about strategy. Sign up, deposit your chosen amount and place a bet on something you like the look of. If it wins, great, if not, you can place a second similar bet at no extra cost thanks to the invention of risk free bets.

However, if you want to take your risk free bets a little more seriously, then listen up.

Lots of people like to bet on strong favorites in this scenario. The thinking being that they’re likely to win, but if they don’t, they’ve got a free bet to place a similar bet with. This isn’t the worst idea, as the chance of winning one out of two short-priced bets is relatively large.

Alternatively, you could try and identify a value play and bet on something at a nice price. For example, you might look for a team that may have been overlooked for some reason, bet on them at odds you think should be shorter, thus obtaining positive value. In general, in sports betting, if you bet positive value plays in the long run, you’re likely to do well.

If your positive value bet doesn’t win, at least you know that from a risk-reward point of view, you made a good choice, and of course, you have the free bet to place another bet of the same nature.

How to claim $1,000 free bets

Here are the simple steps to claiming the $1,000 in free bets mentioned above:

  1. Follow one of the links on this page, which will take you to the sportsbook registration page.
  2. Fill in the registration information and sign up for an account.
  3. Make your first deposit up to $1,000.
  4. Place an initial sportsbook bet up to a maximum value of $1,000.
  5. If that bet loses, your account will be credited with $1,000 in free bets.

Promo codes might be required during the registration process. If that’s the case, you will see the code you must enter on our page banners.

Similar risk free bet offers

The $1,000 risk free bet offer isn’t the only new player promotion that is available to new players in the US. In fact, there are lots of other options when it comes to the risk free betting site.

For example, at BetRivers, you can currently get a second chance free bet up to $500. What do you need to do? Just register, make a deposit, place a bet and if that bet does not win, you’ll get a free bet up to a maximum value of $500.

FoxBet currently offers a $50 risk free bet, where players can get a second bite of the cherry so to speak with a $50 free bet if their initial wager does not win.

At Unibet, it’s a case of placing an initial bet as a new player and if it loses, you’ll get a free bet up to a maximum of $500.

And lastly, there is a PointsBet, where you can get 2 risk-free bets up to $2,000. The one has to be a pointsbetting wager and the other a fixed odds.

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$1,000 Risk-Free Bet or Sportsbook Match Bonuses?

Sportsbooks across the US offer new players welcome bonuses, but not all promotions are the same. While some sports betting sites provide players with risk free bet offers, others offer a deposit match bonus. These are two different things.

Firstly, as covered above a risk free bet bonus is where a new player signs up and is given a free bet if their first bet is unsuccessful.

A deposit match bonus is where a new player registers with a sportsbook, makes an initial deposit and then receives the same amount as a bonus.

So, for example, let’s say you register as a new player at a sportsbook and deposit $100 with a 100% match bonus. You’ll have $200 to play with no matter how your betting goes. With risk-free bets, you must lose to get the bonus.

This sets deposit bonuses as better, but they are rare and often of lower value than $1,000 risk-free bets. Same applies to free bets, where you bet X amount to get X amount no matter the outcome of your betting.

Terms and conditions to research when betting risk free

Before choosing to open new accounts to take advantage of the risk free bet offers, there are certain terms and conditions that you want to look out for.

Unfortunately, in some cases, it’s not just as simple as placing a bet and getting a risk free bet.

These are the terms and conditions that you need to watch out for:

  1. Will you get the free bet once your initial bet loses, or are there more wagering requirements?
  2. If your free bet wins, can instantly you withdraw the winnings?
  3. If you cannot withdraw free-bet winnings straight away, what are the play-through requirements?
  4. Are there limitations surrounding the free bet, e.g. is it only for certain markets?
  5. What are the minimum odds you can bet on?
  6. When does the risk-free bet expire?
  7. Is there any turnover requirement for the bonus amount?
  8. What’s the cup of the risk-free bet?
  9. Until when is the promo valid?
  10. What’s the minimum deposit and bet requirement?

States where $1,000 risk free bets apply

Due to the current legal state of US sports betting, unfortunately, only players in certain states can benefit from offers such as $1,000 risk free bet.

Some players will be able to benefit from every available $1,000 risk free bet offers, while others will only be eligible for some. This is because different online sportsbooks are available in different states.

Offers can also vary per state, with some sportsbooks offering high value risk-free bets to compete in NJ but smaller bets in the less competitive Virginia. The following is the list of the legal betting states in the US, where you can find at least one of the recommended $1,000 risk-free betting sites:

  • Arizona
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Louisiana
  • Nevada
  • New Jersey
  • New York
  • Michigan
  • Mississippi
  • West Virginia
  • Wyoming
  • Tennessee
  • Virginia

FAQ’s

Can you cash out risk free bet winnings?

This depends on the sportsbook. Different sportsbooks have different rules surrounding risk free bets. Be sure to check the wagering and playthrough requirements of any risk free bet offer before signing up.

Do risk free bets expire?

Yes. Most free bet offers or free bet credits expire. The expiry date varies. Some sports betting sites state that their free bet credits become no longer available after seven days, while the offer may expire after 30 days at other sportsbooks. Always check the rules involving expiry before claiming a free bet.

What if I win my original bet?

At most sports betting sites, if you win your initial bet after signing up, then you will receive no risk free bets. The purpose of risk free bets is to refund players, in the form of site credit, if they lose their first bet.

Can I use multiple risk free bets?

At any one sportsbook, you will only be able to use one risk free bet. However, you can sign up to as many sportsbooks as you like. So, you'll be able to benefit from multiple risk free bet offers.

What happens if the result of my free bet is a 'Push'?

A push is when your stake is returned. For example, if you bet on the 'Draw No Bet' market in soccer, your stake is returned if the game ends all-square. Unfortunately, if you place a free bet on this market and it's a tie, you will not get your free bet back as you have not won the bet.

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Up To $1,000 In Bonus Bets

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