One of the most exciting promotions offered by modern online sportsbooks is the sign-up offers. These bonuses often come in the form of a risk-free first bet. In Arizona, bettors can make risk-free bets with various sportsbooks. In this review, we’ll explore how to do so and where.
Guide to risk-free bets Arizona
As you read on, explore the basics of what you need to know about risk-free betting in Arizona. We will talk about how risk-free bets work and how you place them, and we’ll uncover the distinctions between different types of risk-free bets in this guide.
Then, we’ll look at the reasons it’s important to know the terms and conditions of risk-free bets, and we’ll look at the main pros and cons of making risk-free bets. Finally, stick around to the end to learn about the major strategies for risk-free betting and get answers to frequently asked questions about this type of bonus betting.
Risk free bets Arizona 2021
Best risk free bets offer in AZ
Risk-free bet at BetMGM Arizona
BetMGM also offers new customers an exciting opportunity to bet risk-free. The BetMGM AZ risk free bet lets you place the first wager, and if you lose that bet, they’ll credit you bonus money for free bets up to $600 maximum.
Draftkings AZ risk free bets online
Draftkings sportsbook offers a hefty risk-free bet offer but beware of the harsh terms and conditions. With the Draftkings AZ risk free bet, if you make at least a $5 first deposit, a losing bet can win you up to $1,000 in site credits. However, this bonus is only worth 20% of what you deposit, so you’d have to bet $5,000 to get the full bonus amount.
William Hill risk-free bet bonus
The William Hill welcome bonus is a risk-free first bet that, if you lose, will earn you a free bet worth up to $500. Note that the free bet amount will be equivalent to your initial bet, good for up to seven days after receiving it.
Fanduel AZ risk free bet
Fanduel’s risk free bet is sort of a happy medium among the other bonus offers on our list. The Fanduel AZ risk free bet lets new customers receive a site credit refund worth a maximum of $1,000 if their first bet is a loser.
What are Arizona risk-free bets?
A risk-free bet is a Arizona online betting bonus that is little deceiving by nature since the fact remains that all forms of gambling carry an inherent risk. You put your money on the line, and there is no guarantee you get a return.
It’s an opportunity for sportsbooks to draw in new customers by promising that if you lose your first bet, you can get a second try with a site credit that matches or nearly matches the amount you deposited. There are caps on how much deposit match bonuses entails, but typically they range between $500-$1,000.
Types of risk free bets in Arizona
The most typical setup for a risk-free bet is when the sportsbook gives you a site credit if you lose your initial bet. There are typically restrictions on the types of bets you can make for these promotions. The bonus/site credit may come as an equivalent match to your wager, or it may come as a percentage of your wager. Either way, each sportsbook sets a cap.
For example, say you bet $200 on a certain team to win an NBA game as part of a risk free bet. If you lose that bet, the sportsbook will either credit you back $200 in free bets or site credit (for using on bets), or they will credit you back a percentage of your $200.
Also, note that some Arizona online sportsbooks will give you the bonus credit in the form of one bet you must place in full, while others break this bonus up into incremental bets.
Best case scenario
The best-case scenario is when you unlock the site credit for a losing bet, and your do-over bet is a winning bet. If the Arizona online betting site lets you take your stake back along with your winnings, you have hit the jackpot and made the most of the offer!
Risk free bets in Arizona – terms and conditions
When you take part in risk free betting, you need to read the fine print first because you could miss out on the bonus by waiting too long or making an ineligible bet.
Most sportsbooks have a rule for their risk-free bet offer where you can either break up the bonus into incremental bets or you can’t. This is something to look out for when you’re choosing a sportsbook based on its risk-free bet bonus.
Further, keep an eye out for the expiration date of the risk free bet, as well as the amount of time it will take for it to go into effect.
And of course, one reason the terms are so important to read is that not all sportsbooks offer the site credit bonus as a full match of your wager. Some of them only offer a percentage, which may feel like a ripoff if you aren’t prepared for it.
Arizona risk-free bet strategies and tips
Make sure to make the most of your risk-free bet offer
This strategy is more for choosing your wager amount. Basically, if you have the opportunity to get a site credit refund equivalent to your losing wager, then go big. If you lose the bet, you could get that money back for a second try!
Don’t get deceived by the giant risk-free bonuses
As alluring as it is to have a chance at a $1,000 site credit refund, you can’t guarantee that your risk-free bet will be a winner. Even if you lose your first bet and get the site credit refund, you still have to “risk” that money a second time.
And if you lose a second time, you don’t get a return on your investment. Remember, the more money you wager, the more money you risk.
Bet on the favored competitor
The thing about risk-free bet offers is that not everyone wants to use them. Some people want to join a sportsbook and quickly move on to regular betting. If this is the case for you, bet on a favored competitor who is very likely to win (put value into your bet), and hope that your bet will win so you can take your winnings.
Bet on the underdog competitor
On the other hand, if you really enjoy risk-free bets and the possibility of a bonus or site credit refund, then you could bet on an underdog. If the underdog loses the match/game and you lose the bet, then you have a shot at reaping that bonus reward. This means the welcome promotion lasts longer for you.
The pros and cons of risk-free bets in Arizona
The main pros of risk free betting include the opportunity to make a fun first bet if you are new to sports betting. Further, you get to have a second chance if you lose, which is something you don’t get very often when you’re gambling.
And of course, if you have a good deal at your sportsbook and you win your do-over bet, you could be looking at winnings plus a returned wager.
There are cons to risk-free betting, too. Namely, the fact that risk-free betting is not factually “risk-free” is a big turnoff to bettors. You still face the possibility that you will go into the negative rather than the positive.
Further, risk free bets often pigeonhole you into strict stipulations. You may have to bet on a lousy set of odds and get forced into the do-over bet with your site credit refund.
FAQ’s About Risk-free bets Arizona
How old do I have to be to place a risk-free bet in Arizona?
In the state of Arizona, online sports bettors must meet the legal minimum age requirement of 21 years old. As long as you are at least 21, you can take part in risk free betting opportunities.
What is the best strategy for risk free betting?
There is no “best” strategy for risk free betting since your strategy will depend on how much money you’re willing to risk and whether or not you want to get that site credit refund. If you really want the site bonus, you’ll want to make a bet that is likely to lose.
What is arbitrage betting?
Arbitrage betting is a risky type of betting that some people do with their risk-free bets. It’s where you bet on both sides of a wager at different sportsbooks to ensure that, no matter what, one of your bets is a winner. This is not a recommended strategy for risk-free betting.
Are risk-free bets guaranteed to get you winnings?
No, there are no bets that have guaranteed winners because of the inherent risk of gambling. Risk free bets technically are not completely free of risk. Even if you get a second chance at a bet with a site credit, there is still no guarantee you’ll win that bet.
Do risk free bets in Arizona have expiration dates?
Yes, once you have made your first bet at a new sportsbook, if that bet loses and you get the site credit refund, you have a limited time to use it. This expiration date changes among sportsbooks but usually, sportsbooks limit them to 30 days.