Another form of bonus is called "risk free betting", but you actually have to deposit your own money. You may be encouraged to deposit $30 and place a bet. If you lose, you will be given a $30 free bet, giving you another chance. If you win, the winnings are added to your balance, but no additional bonus.
If it's a risk free bet, that just means you get the money back if it loses, but nothing happens if you win. So if I place 500 dollars on a -500 line and it hits, I will get 100 dollars. If it loses, I will get a 500 dollar free bet. But with the 500 dollar free bet you only get the winnings from the bet.
Instead of the odds for that bet in total I received my $2021 bet in credits that was able to be withdrawn. Other books will offer the free bet in $100 bets such as BetMGM which is up to $600 one time risk free bet. They rebate the $600 in $100 increments totaling the $600 so you have a better chance to recover IMO.
If your initial bet wins (incredibly unlikely), you'd win $150,000,000 but lose your $149,999,850, for a net win of $150. If your initial bet loses, it loses you nothing because it was free, and you win $150 from the hedging bet. So if you're going the risk free route, the bigger the odds the better.
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1). Place a £10 bet on the draw at odds of 5.0 at Bwin. This is your “risk free bet”. 2). Place a £7.58 lay bet at odds of 5.3 on Smarkets betting exchange. Your exchange liability is £32.59. 3). If the match result is a draw: £7.41 profit (£10 risk free bet at 4/1 = +£40.00, minus lay liability of £32.59 = +£7.41). You’ve ...
By using the risk-free bet strategy above, we can guarantee ourselves a nice profit rather than run the risk of making a loss. It’s all a matter of personal preference though so if you’re comfortable risking the £5.00 loss to make a big profit, by all means go for it.
This so called risk-free bet requires you to risk your own money first, and you have to bet more than the risk-free bet to be able to withdraw. A bookmaker –we’ll call them DoBog – offers a £10 risk-free bet, although a £10 bet (from your own money) must first be placed on a bet with odds of at least 2.00 before you receive the £10 bonus.
‘Risk-free’ bet strategy The only way to “beat” these offers and guarantee yourself a true risk free profit is to scour the lines at competing sportsbooks and hope to find an arbitrage situation where you can bet both sides of a wager — and guarantee that you’ll come out ahead.