Gambling, unsurprisingly, comes with its risks. Odds need to be checked carefully alongside any stakes being placed to ensure an overall safe experience. However, some bets can be considered ‘risk-free’ by using certain promotional offers. Here, we will look at what is considered‘ risk-free’ and how it could be used to eliminate risks and potentially lock in some returns.
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‘Risk-Free’ Offers Explained
A risk-free offer is a promotion that could credit your account if your original bet loses. These credits are usually in the form of a ‘free bet’ or ‘cash back’. To take part in these promotions, a qualifying bet will need to be placed on a bookmaker using your own funds first.
Essentially, this means that if your bet is successful, you will not receive the free bet or promotional credits, however, if the bet loses, then you could receive your initial stake back in the form of a free bet. If you happen to land any returns from the free bet, the valuation of that free bet is usually not returned in your account winnings. These are popular sign-up offers for new customers as they will know that they could theoretically get another chance if the first qualifying bet should lose. Most of the risk-free offers are given to new customers and not existing customers with existing customers receiving some throughout the year depending on the bookmaker.
Risk-free offers will credit the player with a refund if the initial bet is lost. If the refund is paid out in cash then the risk is neutralised and the funds are returned completely to the player. However if the bet is refunded in the form of a free bet, then there is a chance of that free bet also losing and resulting in the player not receiving a theoretical refund. This is where matched betting can come into play to ensure the free bet is used in the best way possible to potentially lock in a return or a profit.
‘Risk-Free’ Offer Examples
An example of a ‘risk-free’ offer could be one from Coral, with the offer being: ‘If your first bet loses, you’ll get a free bet up to £10’. This means any bet qualifying with a minimum of £1 that loses will be refunded as a free bet. It is worth noting that these are only applicable on horse racing markets for this particular offer. Matched betting could be used here to ensure the rewarded £10 free bet locks in a return if the strategy is applied correctly. To find out more about Coral’s free bet offers, take a look at our Coral Free Bets Guide.
Ladbrokes is also another provider that offers reload promotions such as moneyback offers and ‘Bet £X, Get £X’ offers, both of which are examples of risk-free bets. If you would like to learn more about the free bets at Ladbrokes, check here on OddsMonkey at our Ladbrokes Free Bets Guide.
How Do ‘Risk-Free’ Offers Link To Matched Betting?
Similar to ‘Bet X, Get X’ offers, customers could potentially free spin bonuses to get the best expected value out of a promotion by placing a back bet and a lay bet alongside this. ‘Risk-Free’ offers are linked to matched betting as some refund the player with a free bet meaning these can be used to cover one portion of a matched bet.Therefore,even if the player does not get a refund in cash through one of these risk free offers,, they could still make their money back through matched betting. Make sure to use the OddsMonkey Matched Betting Calculator, with this doing all the essential calculations and other mathematics to ensure the odds weigh in your favour.
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