Risk-Free Betting - Top Risk-Free Bet Offers From NJ Sportsbooks

Risk-Free Betting On Sports In New Jersey

A risk-free bet is the latest promotional trend offered by New Jersey sports betting sites. With online sports betting being relatively new in the US, New Jersey sportsbooks have been trying to figure out the best way to draw players to their apps. And one of the best ways to bring in new players is to not only offer a great deal, but to make a person feel comfortable when joining a NJ sports betting app. This is where risk-free betting comes in.

What Is A Risk Free Bet?

Risk-free betting is a special offer that gives players a form of reimbursement if their sports bet happens to lose. This reimbursement normally comes in the form of bonus bets or cash. In the case of the bonus bets, this allows players the chance to win for free. And in the case of cash, well, that's even better as you earn cash that isn't required to be wagered.

Traditionally, this offer is for new players and applies to their very first sports bet wager with a NJ sports betting app, but sportsbooks and NJ online casinos offer other promotions that are in the same vein as risk-free betting. In fact, many sports betting sites offer daily promotions that include bonus bets, odds boosts and parlay insurance.

We will go over each sports betting site that offers risk free betting and determine which is the best for you, the player. And we will also discuss the best way to use your risk-free bets.

Best NJ Sports Betting Risk Free Offers 2019

Ranking Sportsbook Bonus Offer Claim Now

1st Place (Winner)

PointsBet NJ

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3rd Place

FanDuel Sportsbook NJ

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3rd Place

BetMGM

Risk-Free Bet Up To $500

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NJ Sportsbooks With Risk Free Betting

There are currently seven sports betting apps in New Jersey that offer risk-free betting. Each sportsbook has their own risk-free bet promotion with unique terms and conditions. We will break down each NJ sports betting site in detail and once we understand these promotions, we will then discuss risk-free betting tips and strategies to help you optimize these offers.

PointsBet Risk-Free Bet Promo

PointsBet Sportsbook actually has two risk-free bet promotions. The first is for fixed wagering, similar to other online sportsbooks, but the other is for the PointsBetting wagering feature.

For this PointsBet promo code, you can get a $500 risk free bet for your first fixed wager, while getting another $500 for your first PointsBetting wager. That means you can get up to $1,000 total if your first bet on fixed wagering and PointsBetting happens to lose. It should be noted that any risk-free promotions cannot be used with the STOP-LOSS function.

But unlike some other online sportsbooks, PointsBet does not allow players to use a risk-free bet on parlays. That is a key difference. And players cannot use the PointsBetting wager with their bonus bets. This is likely due to the unique betting nature of PointsBetting.

Bonus bets must be used on markets of -200 or more odds (example: -250.)

Click Here To Make Your Risk-Free Bets At PointsBet!

What We Like:

  1. Multiple risk-free bets (100% match up to $500 on each)
  2. Largest total free-bet offers ($1,000)
  3. Gives players the opportunity to try PointsBetting risk-free
  4. Can use bonus bets on parlays

What We Dislike:

  1. Odds restrictions
  2. Cannot set the STOP-LOSS feature on your first PointsBetting wager
  3. Cannot make your first bet as a parlay

FanDuel Sportsbook Risk-Free Bet Promo

The FanDuel Sportsbook promo code gives you a $500 risk-free bet, whcih is similar to the BetMGM promo listed below, but with some minor differences.

Your first bet is matched up to $500 by FanDuel if the bet loses. It may take up to 72 hours for the credit to enter your account. You can use this free bet on parlays. There are some restrictions, however:

  • Wagers placed on favorites with lines shorter than or equal to -200 (example: -250) cannot be used with your risk free bet.
  • Any unused portion of the bonus will be automatically withdrawn from your FanDuel Sportsbook account after 14 days.
  • You cannot use the "Cash Out" feature.

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What We Like:

  1. Matches 100% up to $500
  2. Can be used on parlays
  3. Can make multiple wagers with your bonus bets

What We Dislike:

  1. 14 days to complete risk-free bet or you lose unused portion
  2. Odds restrictions

BetMGM Sportsbook Risk-Free Bet Promo

The BetMGM promo code was at once a cash back risk-free bet, but that is no longer the case as of September 5, 2019. Instead, BetMGM gives you up to $500 in risk free bets.

Click Here To Make Your Risk-Free Bet At MGM Sportsbook!

Here is what you need to know about the BetMGM Risk-Free Bet promo:

  • Your first real money bet after opening your account must be any sports wager with -200 odds or greater. Only the first $500 of the first wager are eligible for this promotion.
  • If your bet loses, you'll become eligible to risk-free, free bets back up to $500.
  • If your Qualifying Bet loses, you'll receive free bets back in denominations of 10% of the total number of free bet earnings you're eligible for. Anything under $50 will be given back in $10 free bet denominations
    • Example 1: If you deposit $500 and place a $500 wager at -200 odds and this wager loses, you'll receive $500 in free bets. The free bets will be broken down to ten $50 free bets
    • Example 2: If you deposit $250 and place a $250 wager at -200 odds and this wager loses, you'll receive $250 in free bets. The free bets will be broken down to ten $25 free bets
  • All free bets will be automatically credited to your account within 24 hours of the end of the event.
  • Free Bets must be used with seven days of them being credited to your account. If you attempt to place a free bet for a lesser total stake than the value of your free bet, the remaining value of the free bet will be forfeited. Example: If you have a $10 free bet, and place an $8 wager with that free bet, you will forfeit the remaining $2.

What We Like:

  1. Get up to $500 in risk free bets
  2. Only a $10 deposit to activate
  3. Parlay bets allowed

What We Dislike:

  1. Odds restrictions
  2. Bonus bet expires one week after account creation
  3. Bonus bets come in 10% increments

Borgata Sportsbook Risk-Free Bet Promo

This Borgata Sportsbook promo has a special offer for new players, giving a risk-free bet up to $300 on their first bet. This used to be a real cashback bonus with $20 in bonus dollars for the Borgata Casino Online, but that is no longer the case.

Additional notes:

  • First Sports Wager Required: deposit $10 or more and place at least a $10 bet.
  • If a loss, the maximum eligible free bet back is $300
  • Free Bets can only be redeemed At Borgata Online or on the Borgata app, and must be used within seven days of them being credited to your account
  • If you make a wager that is less than your free bet, you will be forfeiting the remaining bonus
  • Bonuses will be given in 10% increments. For example, if you bet and lose $300 on your first bet, you will earn 10 free bet bonuses worth $30 each
  • All free bets will be automatically credited to your account within 24 hours at event's end.

Click Here To Make Your Risk-Free Bet At Borgata Sportsbook!

What We Like:

  1. Risk-free bet up to $300
  2. No odds restrictions
  3. Parlay bets allowed

What We Dislike:

  1. First bet must be completed in seven days, limiting opportunity on futures betting
  2. Giving the free bet bonuses in 10% increments

DraftKings Risk-Free Bet Promo

DraftKings Sportsbook has a $200 Risk-Free offer for new signups. This means your first bet on DraftKings Sportsbook is matched up to $200 if it loses. You can use your DraftKings Risk-Free Bet on parlays, but not on teasers. There are no odds restrictions. Here are more guidelines for the offer:

  • Free Bets must be used in whole as they cannot be split into multiple wagers. You can not wager less than the value of the Free Bet.
  • Any free bet values used are not included in settlement returns.
  • Only one free bet may be used on the bet slip in any one transaction.

This first bet must be used within 30 days of your first bet. The free bet bonus is not included in any returns or winnings. The free bet bonus is also not redeemable for cash or transferable.

Click Here To Make Your Risk-Free Bet At DraftKings!

What We Like:

  1. Matches 100% up to $200
  2. Can use on parlays
  3. No odds restrictions

What We Dislike:

  1. Must use bonus bet on a single wager
  2. Not allowed to use bonus bet on teasers

Please note that the DraftKings Sportsbook promo also comes with a 50% match up to $500. And although that is great value and essentially pushes the offer upward, it is at a 50% match. If this were a 100% match, we would have considered placing this above some other sportsbooks. In saying that, DraftKings is one of the best sportsbooks around, so you should take advantage of the $200 risk-free bet on offer.

Golden Nugget Sportsbook Risk-Free Bet Promo

The Golden Nugget Sportsbook promo code also offers a risk-free bet, but it is much lesser than the other NJ sportsbooks, coming in with a $50 Risk-Free Bet and it has a couple of stipulations as well.

Your first bet must be equal to $50. It cannot be less or more. To qualify you must:

  • Players must make Straight wagers (single bets) and Live bets (in-play bets) only.
  • Parlays do not qualify for this offer.
  • Bet must be equal to $50 exactly.
  • There are no minimum odds for a qualifying bet.
  • You have 90 days for your first bet to be placed and settled.
  • You cannot cash out or partially cash out your first bet. No "Cash Out” feature for your first sports betting wager at Golden Nugget.
  • You will be credited your bet bonus within 24 hours of your first bet being settled as a loss (assuming it qualifies as well.)
  • Golden Nugget Online lists no restrictions on the Bonus Bet.

Click Here To Make Your Risk-Free Bet At Golden Nugget Sportsbook!

What We Like:

  1. Free bet bonus credited quickly within 24 hours
  2. 90 days for first bet to be settled
  3. Can make in-game (live bets) for your first wager to qualify for the bonus bet

What We Dislike:

  1. Matches 100% up to $50 is significantly less than competing sportsbooks
  2. First bet must be exactly $50
  3. Parlays do not qualify in order to earn the bonus bet

Risk Free Bet Offers

As noted above, Borgata Online Sportsbook is the clear winner, giving you back real cash up to $250 for your first sports bet. PointsBet narrowly edges FanDuel for third place due to the incentive of a second risk-free bet if you decide to make a PointsBetting wager. FanDuel and DraftKings were close, but in the end, DraftKings requires sports bettors to use their bonus in one bet and cannot divide up their wagers, making it too restricting in our eyes. And although we are carefully dissecting each offer, these online sportsbooks all have something unique and should be considered as alternatives to the sites listed above.

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Borgata Sportsbook

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DraftKings Sportsbook

Get A Risk-Free Bet Up To $500

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Golden Nugget Sportsbook

Get A Risk-Free Bet Up To $50

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Risk-Free Betting Tips

The funds that you earn from sports betting operators in the form of a risk free bet should be thought of as exactly what they are: free money. All players are being given extra opportunities to win for creating an account and getting in on the action, but not all players know quite how to use them to their fullest capability. So here is our risk free betting tip:

Because you don't get to keep the funds you wager and only get to keep the winnings, it's important to try and maximize the potential for profits. The way to do this is to increase payouts with parlays, since it doesn't necessarily require a large amount of money in order to receive a strong payout. Especially if you don't feel like laying all your risk-free bet down on one wager, break it up with a few parlays. It helps you stretch out the action in addition to the opportunity to pull in a large payout and add it to the bankroll.

Risk Free Betting Strategies

Depending on the NJ sports betting site, you may have to alter your risk-free bonus betting strategy.

For instance, DraftKings doesn't allow players to spread their bonus bet across multiple fixed wagers. To counteract this, a player should determine their risk-free betting strategy based on the size of their bonus. Since DraftKings Sportsbook specifies no odds restrictions, a player with a $500 bonus bet may be inclined to put that money on a huge favorite. If a player has something closer to $50 to wager, perhaps creating a significant parlay is the move.

Getting cashback instead of bonus bets is a game-changer and the truest definition of risk-free. With no betting restrictions, players should take care of this offer in the most aggressive way possible. Putting together a $100 or $250 parlay, or perhaps a big futures golf bet, is the way to go for NJ online sports betting players because a loss leads to the equivalent to a cash refund. Unfortunately, all the current sportsbooks have eliminated cashback bonuses, but you can still check out the no-deposit free bet offered by 888 and Fox Bet below.

Our final risk free betting strategy may sound simple, but we find many people not taking advantage of it, which is signing up to multiple NJ online casino and NJ sports betting sites. Why take advantage of one welcome bonus when you can take advantage of two, three, four, five or more? Sign up with our bonus codes to take advantage of each online casino and sports betting site. If you did this at each of the seven NJ sportsbooks listed above, you would be set to get up to $350 in real cash, $45 in online casino freeplay and $2,550 in Risk-Free Bonus Bets. Have fun, good luck and play smarter!

What Is A Free Bet?

A free bet is a promotion run by sportsbooks that give players free money to place a bet. These can be promos based on a sporting event, holiday or simply as a reward for playing on a particular NJ sports betting site. In some cases, the free bet can only be used on a specific sport or type of wager. Since these are dependent on the type of promotion, we suggest you always read the full terms and conditions to learn how to properly apply and take full advantage of your free bet.

What Is The Difference Between A Free Bet And Risk-Free Bet?

Though free bets and risk-free bets are similar, they do have some key differences. For instance, in order to claim a risk-free bet, the player must first put up the wager with their own money. If that bet loses, then they will receive the bonus. As for free bets, the sportsbook gives players free money to wager, meaning, you don't even need to front the cash in the first place. Another key difference is that risk-free bets usually come in the form of signup bonuses, while free bets tend to be promotions that come and go. Therefore, risk-free bets tend to have a higher value, but it is a one-time wager, whereas free bets are smaller in terms of value (i.e. a $10 free bet to use on the NHL), but can be offered to players in several variations and many times over during the course of a year.

Casino Free Bet Offer Claim Now

FoxBet NJ Sportsbook

$20 FREE Bet

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888 Sportsbook

$10 FREE Bet

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