A New, Exciting Type of Welcome Offer – Risk-Free Betting!
Ever since the first wager was ever placed in the world’s inaugural betting shop, there has been no such thing as risk-free betting. As the essence of gambling is risk, many find it surprising that there can be ways to bet risk-free. There has to still be something in it for the bookmaker, but the risk-free bets explained below are as close as you are gonna get!
Although only a select few bookmakers offer this type of new and exciting type of bet, it is something that has quickly captured the attention of the market and helped to target an entirely new demographic of novice bettors! Less risk means more confidence in making bets. That’s gotta be a good thing!
How does Risk-free Betting Work?
In many ways, risk-free betting is as simple as it is innovative and rewarding.
To claim a risk-free bet, you will generally have to:
- Deposit in your account.
- Make your risk-free bet paying attention to minimum odds required for the wager.
- If you win, you win as normal.
- If you lose, you will receive a risk-free bet into your account.
So the process of betting is as normal. It would be practical to make your risk-free bet considering the maximum the bookmaker is offering to cover. If say it is £30, it would make sense to make a bet of £30.
Note, that if you lose your bet and qualify for the refund, you’ll get it as a free bet rather than actual cash. You can then bet the free bet bonus that you receive.
UniBet currently offer a risk-free bet (2017):
They require you to bet on odds of 2/5 (1.4) with your initial bet. If you lose, you get your bet refunded as a free bet up to £30. To withdraw this £30, you then need to wager it 3 times.
So, while this offer is called risk-free, there is still some risk involved. If you don’t win your first bet, you basically have another chance with a free bet, which you have to bet to the value of £90 before withdrawal.
Our Thoughts on Risk-Free Bets
Risk-free bets are a cool idea. They give you the opportunity to have another go if you lose your first bet.
As with all free bets and bonuses, the bookmakers try and cover themselves with wagering requirements before withdrawal, so you have to be aware that the bet isn’t totally risk-free.
There are two ways we can think of playing this type of bet:
- Choose this type of bet if you are pretty confident with your first bet selection – use it with an aim to not lose. The risk-free nature then just adds a bit of insurance to your bet. If you do lose, you get the free bet and can have a go at wagering it to the required amount to try and get your money back.
- Use it on a bet with higher odds and moderate probability. As you know that you have the insurance of a free bet if you lose, you can choose a bet with odds of 10/1 or higher that you may not otherwise go for. Of course, make the bet with an aim to win, but take the extra risk knowing you will probably have to claim the refund as a free bet.