$1,000 Risk-Free Bet
With a fast-growing landscape of competitors US sportsbooks try to outbid their competitors with huge bonuses. To lure in more players most US sports betting sites offer big risk-free bets. A very common bonus is a $1,000 risk-free bet. You will find this type of sports betting bonuses at multiple of the big US sports operators including DraftKings sportsbook, Fanduel sportsbook, and BetMGM sportsbook.
Just like the name suggest a $1,000 risk-free bet offers you the chance to place a $1,000 bet without risk. To be honest, there is still some risk involved, but the risk you take is significant lower then while placing a normal bet.
If you place a $1,000 risk-free bet after signing up at any of the licensed sportsbook in the table below, you will get a refund when you lose that bet. This means you can place another $1,000 bet for free. Hopefully you will win your second bet and bag a nice win. Also losing your second bet will leave you with a $1,000 loss. This is what I mean with ‘’there is still a bit of risk involved’’.
In this article I will explain how you can take advantage of all the $1,000 risk-free bets around. To get your knowledge regarding these bonuses to a higher level I will also explain how these bonuses can differ, and what promotional terms you might need to mind.
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How to claim a $1,000 Risk-Free Bet
These days most sports betting sites have invested a lot of time and money in making their sign-up process as easy as possible. They make signing up as easy as possible to save you trouble and improve their conversions rates. Because of this claiming one of the available $1,000 risk-free bets is very easy. All you must do is:
- Pick any of the offers from this page. Press any of the promotional links or the ‘’Claim’’ button to launch the sportsbooks website.
- Start the process by clicking a button which take you to the registration page.
- Most sports betting sites will ask you for your email address first. You will also need to pick a unique username and a strong password to create your account.
- To finalize your account, you will need to fill in various personal details. This includes your name, date of birth, telephone number, and the last part of your social security number. Asking this information is required for any licensed US sportsbook to validate that you are eligible to play. All information you submit will be encrypted and stored securely and according to the high privacy standards.
- After creating your account, you will need to verify your phone number or email address. Once done you can log in to your sportsbook account using your username and password.
- Visit the cashier and make a first deposit. When you make a $1,000 deposit, you will be eligible to get the $1,000 risk-free bet at most sportsbooks.
- Now you can place your first wager in the sportsbook. You can browse the sportsbook to find a bet that attracts you. If you lose the bet you have placed, you will get a $1,000 refund. You can use this refund for a second bet! Hopefully you will win this second bet to make a nice profit!
Variations of $1,000 Risk-Free Bets
Not all $1,000 risk-free bets work the same. There are various variations which work slightly different.
Some sportsbooks offer a straight up $1,000 risk-free bet. This means you can place a bet up to $1,000 and get a refund for the total amount lost. You can use this refund to place new bets in the sportsbook.
There are also sportsbooks that offer you a match up bonus up $1,000. You will for example get a 20% deposit bonus at DraftKings sportsbook. This means if you make a $5,000 first deposit, you will get a $1,000 bonus. Please mind that this bonus will be released in increments. For every $25 you wager, $1 bonus funds will be released.
Finally, there are also sportsbook that just offer a 100% match up bonus and add the bonus to your account straight away. When you for example make a $1,000 deposit, you will get a $2,000 balance which will be subject to certain play-through requirements. When the play-through requirements have been met, you can withdrawal you initial deposit and the winnings of your bonus.
Depending on your choice of offer you will also need to mind different promotional terms and conditions. Most sportsbook will release your refund with a 1x play-through requirement. This means you cannot withdrawal your refund, but you need to place other bets first. Sometimes your bet to wager your bonus will need to be at certain odds to qualify. To fully understand the offer you collect, we recommend reading the significant bonus terms and conditions at all times.
Pro & Cons of a $1,000 Risk-Free Bet
Pros
- Take some extra risk during your first bet to win big.
- Get a second shot on a winning bet.
- Boost you bankroll with extra betting firepower.
Cons
- Not fully risk-free in all scenarios
Most Popular Sportsbooks offering a $1,000 Risk-Free Bet
As I explained before, there are multiple licensed US sportsbook that offer a $1,000 risk-free bet. To compete with other sports betting sites more and more sportsbooks increase the maximum value of their bonuses. Now there are even various sports betting sites that offer two $1,000 risk-free bets or a first risk-free bet up to $1,100. Below I will highlight some of the most popular $1,000 risk-free bets that are available for you to claim.
BetMGM sportsbook – Use our Promo Code for your $1,000 Risk-Free Bet
One of the biggest names in the US sports betting scene is of course BetMGM. This top-notch sports betting app and site is now available in a massive range of states. This includes Arizona, Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, Nevada, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia, Washington, West Virginia, Wyoming, and more.
All new sports betting players at BetMGM will now be able to enjoy a $1,000 risk-free bet. To receive this offer, all you must do is sign up a free account using our promo code. The required promo code for the $1,000 risk-free bet is ‘’BBCSUSA’’.
To get your risk-free bet, you will need to make a deposit of $10 or more. The maximum refund which you can receive is $1,000. When you are eligible for a refund then it will be credited to your account automatically within 24 hours. All risk-free bets up to $49 in value are credited as a single free bet. Bigger risk-free bets are paid in equal installments valued at 20% of the total bonus. You cannot withdrawal your refund, but you can use them to generate winnings and withdrawal them. You will find more information about this offer on the BetMGM website.
Fanduel sportsbook – Claim a $1,000 Risk-Free Bet
Fanduel is a name which many people from the US will known from their Daily Fantasy Sports product (DFS). DFS has been very popular in the US and not without reason. This type of gambling is very entertaining and exciting.
But Fanduel didn’t stop after becoming one of the biggest names in the daily fantasy sports world. Currently Fanduel also hosts a great online casino and a very popular sportsbook.
Fanduel sportsbook is now available for bettors from Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.
New players that now join Fanduel sportsbook can get a risk-free bet up to $1,000. All you must do is open your free sports betting account and place a first wager. If you lose this bet, you will get a refund in bonus credits within 72 hours. You cannot withdrawal bonus credits, but you can withdrawal profits made with your bonus credits.
There is no promo code required to get this bonus offer. After enjoying your risk-free bet, you will be able to enjoy various other offers. Fanduel sportsbook offer multiple weekly promotions including profit boosts, and interesting deposits bonuses.
DraftKings sportsbook – Get a 20% deposit bonus up $1,000
Another name which you might recognize from the daily fantasy sports industry is DraftKings. DraftKings has been around for more than ten years, and that’s why they have become a household name.
In addition to the daily fantasy sports product DraftKings has released various other products. This includes an online casino, a sportsbook, and a marketplace for sports collectibles such as sports memorabilia and NFT’’s.
New players that now join DraftKings sportsbook will be able to take advantage of a 20% deposit bonus up $1,000. To qualify for this bonus, you need to deposit $5 or more. When you deposit $5,000 you can get the maximum bonus of $1,000. Your bonus will be released as bonus credits. For every $25 you wager, you will get $1 in bonus credits.
You can also wager money by playing DFS or in DraftKings Casino. When you place bets on sports you will qualify for wagering at odds of -300 or longer. Please mind your bonus funds are valid for 90 days. Have a look at the bonus terms and conditions on the DraftKings website to learn more about all promotions T&C’s.
How a $1,000 risk-free bet could turn out
To make things a bit easier for you we will give you an example of how a $1,000 risk-free bet could turn out.
Let’s say you sign up an account at BetMGM sportsbook. You have used our promo code ‘’BBCSUSA’’ and your account has been verified. Now you can make a first deposit to claim your $1,000 sports bonus.
When your bonus has been activated you can browse the sportsbook to find an event to place your first wager on. We recommend placing a $1,000 wager to get the most out of your bonus. If you are not comfortable with this amount you can of course also bet a lower amount, but this will lower your potential refund.
Let’s say you place a $1,000 bet on the LA Lakers at -120. If you bet wins, you will enjoy a $1,833,33 payout ($1,000 initial bet + $833,33 profit). You will be able to withdrawal this full amount as there are no bonus credits in play.
But you could of course also get unlucky, and it turns out the LA Lakers lose by a 3-pointers during the last seconds of the game. In this case your wager is a losing bet and your $1,000 will be gone. Happily, your bet will be refunded and $1,000 in bonus credits will appear in your account automatically (this can take up to 72 hours depending on the sportsbook you are playing at).
Wagering your refund or free bet
When your losing bet gets refunded you will find $1,000 in ‘’site credit’’, ‘’free bet credits’’, or ‘’bonus cash’’ in your account. You can use this amount to place additional bets in the sportsbook. How these refunds and bets work can differ per sportsbook.
Some sportsbooks don’t allow you to cash out your refund, but you can withdrawal winnings generated with your refund. Let’s say you are refunded $1,000 and you place a new bet on the LA Lakers at -100. When this bet wins, you will get your $1,000 profit, but the $1,000 refund will be taken from your account. This leave you with a $1,000 balance which is the same amount as you started with.
There are also some sportsbooks including Fanduel that refund your account with site credit. Site credits acts the same way as normal cash, and you will be able to keep your refund after winning a bet. This means you would get the full $2,000 in the LA Lakers bet scenario explained earlier on.
If you lose your second bet as well, then you will have no money left and you have lost a total of $1,000. This shows a risk-free bet always comes with some risk since you can always lose multiple times in a row.
As you can see the way of refunding and wagering can have a huge impact on your profits. Because of this it is very important to understand how a bonus works. If you don’t fully understand how the refund works, then you can face nasty surprises which ‘’costs’’ you a lot of money. That’s why we always recommend reading the promotions terms and conditions.
Fully risk-free betting strategy
As explained playing with your $1,000 risk-free bet always has a certain level or risk attached to it. Only promotions that offer you a 100% withdrawable refund should be able to say that the bet is 100% risk free.
Although there is always risk involved there is a way to ‘’beat’’ the system. If you do research, you might be able to find sports events that offer you a guaranteed win. You can do this by claiming a risk-free bet on two sports betting sites and placing bets on both sides of the wager. In some arbitrage situation this might results in a guaranteed win. In addition to this you will always get a refund for your losing bet. This also give you’re a second chance to make even more profit.
Situations in which you make a guaranteed win are very hard to find, but they do exist. Especially when one of the sportsbooks offer a profit boost on a certain event there is a bigger chance of finding a guaranteed win situation.
On top of the guaranteed win situation, we have a few more tips which can help you develop a successful strategy.
- If you are comfortable betting $1,000, then we recommend betting the maximum bonus amount. This will get you the biggest refund might your bet lose.
- Don’t bet more than the maximum refund to lose out on extra refunds.
- Try to take the best $1,000 risk-free offers only which allows you to withdrawal your full winnings (free bet + profit).
- Don’t take too much risk. You can better make a small profit then lose everything by making two risky bets.
- Collect offers at multiple sportsbooks to maximize the amount of potential refunds you can get.
From what states can I enjoy these risk-free bets?
You can only place bets on sports in states where sportsbooks are legal to operate. If you want to enjoy any of the $1,000 risk-free bets, then you can do this from many states. States from where you can claim a $1,000 risk free bet as listed below.
- Arizona
- Colorado
- Florida
- Illinois
- Indiana
- Iowa
- Louisiana
- Michigan
- Mississippi
- Nevada
- New Jersey
- New York
- Ohio
- Pennsylvania
- Tennessee
- Virginia
- Washington
- West Virginia
- Wyoming
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