The United Kingdom is one of the many European countries where online gambling is legalised. In fact, it was one of the pioneers in regulating online gaming back in 2005. The Gambling Act of 2005, also known as “the 2005 Act,” was designed to consolidate existing gambling legislation and update the regulatory structure for online sportsbooks and casinos.
So, where does a risk-free bet come into the picture? Well, since UK punters now have access to numerous betting sites, the competition is stronger than ever. That means bookies constantly have to invent blinding welcome offers, and what better way to do that than offer a bet with no risk involved? Everybody loves a chance like this, which is why these are some of the most common types of welcome offers for newbie punters.
Below, you will get to see the main characteristics of this bet type, learn how it works, and get a few betting tips to develop your sports betting strategy, to boot! Read on!
It might sound too good to be true, but as its name clearly suggests, this type of bet is risk-free and made to win you some starting assets. It’s a plan B in case your initial wager loses: You’ll get something in return as compensation. Depending on the website’s offer, this could be bonus cash, a free bet, or some sort of site credit. Some bookmakers issue refunds instead of giving credits, but that’s usually an in-house rule. If your bet wins, the payout is all yours, but there is no bonus on it.
In theory, risk-free betting is an excellent option that significantly minimises the risk of losing money. But things aren’t that simple after all. Here’s an example: Suppose you place a +100 moneyline risk-free wager of $1,000 on a selection to win. If it succeeds, you’ll have $2,000 in your account and can continue your winning streak.
However, if your team loses, you’ll be left with a $1,000 free bet, bonus cash, or site credit. If you then decide to wager those $1,000 on another team and they lose as well, you would be left without funds. There would be no bonus cash, and no original stake. So, although a risk-free first bet ensures you get another shot, there’s still a chance you’ll lose it all.
The crucial thing to pay attention to before placing a risk-free wager is the terms and conditions attached to it. Each sportsbook has its own rules regarding bonuses and risk-free wagers, and it’s important you understand them well. Here’s what you should check first:
You should check different sportsbooks to see which offers the most favourable conditions and lowest wagering requirements. Once you understand how it works and how your desired sportsbook treats payouts on bonus bets, you can start developing your risk-free bet strategy.
There are many advantages of betting risk-free, and some of the stand-out ones are:
On the other hand, you should also know that:
Now that you’ve had a risk-free bet explained, you can go out there and try your luck. With this type of betting, you will have additional safety and two chances instead of one, but you should understand all the requirements and find a bookmaker that offers the best odds on the bet you are looking to place. Make sure to read the terms and conditions carefully. Once you have that information, you will be all set for your new betting adventure.
If your free bet wins, the profit goes into your real-money wallet, but the original free bet stake will not be returned to you. And if your total stake surpasses the value of the free bet, the remainder of the stake will be drawn from your cash balance.
Free bets are one of the easiest ways to attract new players, and bookies advertise regular and risk-free bets as part of their welcome bonus offers. To qualify for a free bet, a punter usually has to make their first deposit or place their first bet.
If you place a free bet, you don’t contribute the stake yourself, and therefore, you don’t get it back. If your bet wins, you will get the winnings, but you won’t get the stake back. This is one of the main differences between a free bet and a risk-free bet. When placing a free bet, the stake isn’t yours, and you can’t get it. However, if you go for the second option and your bet wins, you get to keep the profit, as well as the stake.
As one of the major sportsbooks in the UK, Betway always offers some exciting welcome packages for new players. They currently have a special offer for UK residents only. Once they open an account and make a minimum deposit of £5, players become eligible for a free bet of up to £30.
What Is a Risk Free Bet?
Is There a Catch?
Understanding the Terms and Conditions
Pros and Cons of Betting Risk Free
Final Words
FAQ
What Is a Risk Free Bet?
Is There a Catch?
Understanding the Terms and Conditions
Pros and Cons of Betting Risk Free
Final Words
FAQ
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