Best Risk-Free Bet Offers in the UK for December 2023
Risk-Free Bet is a bonus that allows you to get back partially or in a whole the amount that you've lost over a losing bet. Let's take a closer look and find out is this bonus actually risk-free, is it profitable and how to make use of it. And also we've found all risk-free promos of legal UK bookmakers so you could compare them and make your own choice in favor of the bonus that will be the most suitable for you.
Last updated: 04.12.2023
18+ A welcome £10 free bet credited for a virtuals bet of £10 at odds of 1/1 or greater. To participate in the promotion use the promo code V1010. Cashed Out, Void or Draw No Bet wagers do not qualify for this promotion. The free bet expires after 7 days and has to be wagered once. Full T&Cs Apply. BeGambleAware.org
18+ Betfair will award a £20 free bet for every 5 single qualifying bets of £10 or more. That’s one of the best betting sites free bet offers in the UK. After bet settlement, you can get 5 of these free bets totalling £100. The minimum odds of a qualifying bet are 1/2. Free bets valid for 30 days. T&Cs Apply. BeGambleAware.org
18+ Deposit at least £5, then place your first bet on a football or horse racing multiple with 3 or more selections and overall odds of 3.00 (2/1) or higher. Upon settlement of this qualifying bet, a Free bet of up to £30 and 50 bonus spins will be credited, but remember these are valid only for 7 days and the spins are subject to 50x wagering requirements. Make sure to use a debit card for depositing. Full T&Cs Apply. BeGambleAware.org
18+ New players only. Min deposit is £10. Certain deposit methods excluded. Place 1 sports bet (3+ selections), excluding horse racing. Min stake is £10, max stake is £20. Min odds are 2/1 (3.0). Max Free bet is £20 for football only. Free bet valid for 7 days. Free bet stake not returned. T&Cs Apply. BeGambleAware.org
18+ This is a new customer promotion. Click on the Opt-In button on the promo page and sign up. Place your first bet of at least £5 on any sporting event at any odds. If the bet loses, you will be awarded a £5 bet credit within 72 hours. You have 7 days to use the bonus. The only condition is that you have to wager the bonus amount once. T&Cs Apply. BeGambleAware.org
18+ Sign up with a promo code and place your first qualifying bet at min odds of 4/5 or greater. In case of a loss the company compensates 100% matched amount of the first bet, but not more than £30, in the form of a free bet. It can only be used when making a single bet. The promotion does not cover deposits made via Skrill, Neteller or PaySafe. T&Cs Apply. BeGambleAware.org
18+ Register a new betting account with a promo code YSKAMR, deposit £10 or more and place your first qualifying bet of £10. If it loses, the betting site will return it to the main account in cash, not free bets. The transfer will be processed within 1 hour after the qualifying bet settlement as a loser. Full T&Cs Apply. BeGambleAware.org
18+ You get the bonus if your first bet loses. To participate in the promotion you need to place a real money bet of at least £1. The bet placed must be a single at min odds of 2/5 or an accumulator bet with selections at min odds of 2/5 or greater. To withdraw bonus money you need a min wagering 3 times. Additionally, a £10 casino bonus with an x50 wager calculated. T&Cs Apply. BeGambleAware.org
What is a Risk-Free Bet?
If a bet with a risk-free bonus loses, the bookmaker pays a refund for it. A betting site usually offers risk-free bets to new customers after registration, however, this bonus can be activated manually for specific bets you would like to use it with. This bonus is highly unlikely to be offered to existing customers.
Risk-free bets are not a deposit-free bonus: you have to make a deposit and bet with your own money. Let's keep in mind that in the UK such bonuses often distributed via promo codes, so don't forget to fill in the necessary field while signing up.
Contrary to it's name, this bonus isn't actually risk free pretty much anytime. Most of the promos of this kind will refund you a losing bet in a form of a Free bet, and that means that you still have to take on the risks. You can't say to your bookmaker «I've changed my mind, I don't want to bet anymore and I'm taking my money». You have to use your Free bet to place a wager, and you'll get your money only if your wager will win.
To understand how profitable a risk-free bet offer is let's compare it to the most popular promo among UK betting sites — Bet and Get.
Bet and Get
Number of welcome offers
Number of offers for existing customers
Less than 5 recurrent offers
Amount of most offers
Maximum bonus amount
Mainly Free bets, but there are several cashback options
Almost everything is Free bets
Minimum activation deposit
At least £10
Few promos with £5 deposits
Typical qualifying bet
First losing bet
First bet with any outcome
It is apparent that in a real sense, this type of promo is below Bet and Get offers in several ways. It doesn't mean that you should throw this away: we're always encouraging our readers to use all Welcome offers with suitable conditions. Very few bookmakers indulge existing customers with bonuses, so you should use sign-up bonuses whenever you can.
How Do Risk-Free Bets Work?
You're placing a bet, and if it loses — you're getting the bet amount back, partially or in whole. Sound pretty simple, but as a matter of fact, risk-free bet offers have finer points. They're written in Terms and Conditions of the offer, take the trouble to read it. Pay attention to the following points:
What's not allowed?
Be careful if only the FIRST bet can be a risk-free bet. First bet must be a qualifying bet according to the terms and conditions of a bonus. The odds and the amount of the bet will be indicated in the terms of the bonus. If your first bet can't qualify, the bonus will expire. Bookmaker won't consider your bet a risk-free bet because it can't qualify, and they won't offer you another risk-free bet because it's not the first one.
Strategies & Tips for Making Risk-Free Bets
If betting is entertainment for you (as it should be), you can use your risk-free bets as you like. The point is for you to have fun. There are no special secrets, but we can share bits of advice with you.
Take cash bonuses first of all
Under equal conditions cash is more profitable than a Free bet as an isurance payout. Let's say you've placed two bets on two different betting sites and you've lost both. But both bets were risk-free bets, so you'll get £10 cash money back in one place and £10 Free bet in another. If you place next bet with your payout money for an event with 1/1 odds and win, a £10 cash bet will bring you £20 (bet amount and winnings), and the bet wagered with a Free bet will only bring you £10. A bookmaker always keeps the Free bet amount that was wagered as a bet.
Consider another promotions among the legal bookmakers, Bet and Get promos especially. They can be more profitable then risk-free bet payouts.
Use risk-free bets for high odds
Insurance is a way to save something if there's a risk of loss or damage. The same goes for betting — there's no point in insuring a small-amount bet that you're sure about. Much more sense in using risk-free bets for hard-to-predict events with high odds. You'll get a high payout if you turn out to be right, and you'll get a refund if you lose.
Place a matched bet
A matched betting (or an arbitrage) is a winning betting strategy. At the cost of sign up bonuses you can actually place a risk-free matched bets via two bookmakers.
Let's say you've made your first deposit on two betting sites. You can use a risk-free bet on one of them. You're looking for matches without a draw or with approximately even odds for each side to win. A tennis match with odds 9/10 (1.90) will fit you well. Уou're placing £10 before the match for any of the sides to win. When one of the players wins the first set, the odds on his victory will be at around 3/10 (1.30) in the In Play mode. The odds on an outsider to win will be at around 2/1 (1.90), and you'll have to place a bet on this outcome after the first set ends.
You should calculate a bet amount in such a way that winning on any side would be profitable to you. You should use an arbitrage calculator for that. You can't know for sure, what the odds will be after the first set ends, but they will be approximately equal to what we've said earlier. In this screenshot, we're splitting the bankroll of 20 pounds.
As you can see in this picture, any outcome brings you £23.27, which means £3.27 overall profit. Whilst one of the bets is a risk-free one. If it wins, you'll also get £23.27, but if it loses, a bookmaker will pay out a refund.
In real life, matched betting has a few risks attached to it. Bookmakers for obvious reasons dislike this kind of gambling and can reduce limits or even block accounts only for suspicion of matched betting. Besides that, a match can be forfeited: your bank of £20 will be paid out as a refund, but a bet insurance can expire. We advise you not to bet suspicious amounts like £7.76. Or you can use a betting exchange. On a betting exchange players place bets against each other, and because of that exchange doesn't care about who wins or loses. The betting exchange will simply pass the money to the winning player, deducting the exchange's commission. That's why the UK exchanges are pretty loyal to such «tricks».
Best Risk-Free Bet Offers in the UK
Betfair Cash Money Back
The best offer with cash money back among the UK legal bookmakers and betting exchanges for April 2023. Risk-free bets are only available in the Exchange section, and there's another Welcome offer for Sportsbook (Bet £10 Get £30 in Free bets). You can only get one Welcome bonus from Betfair.
How to claim the bonus:
Betfair Risk-Free Bet
Betfair Risk-free Bet Up to £20 in Cash — Register using VAL225 promocode and receive a cash refund up to £20 if your first qualifying bet doesn't win.
Betfair Welcome offer
Up to £20 Cash Back
Paddy Power Cash Money Back
Biggest promo with cash money back for sportsbook. New customers of Paddy Power that aren't lucky enough to win with their first qualifying bet will be applicable to receive up to £10 cash insurance payout.
How to claim the bonus:
Paddy Power Risk-Free Bet
Paddy Power Risk-Free Bet up to £10 in Cash — Register using YSKAMR promo code, deposit at least £10, and place your first qualifying risk-free bet up to £10.
Paddy Power Welcome offer
Up to £10 Cash Back
Unibet Free Bet
One of the biggest Welcome offers among all UK legal betting sites. You can get up to £40 in Free bets if your first bet doesn't win, and also a £10 casino bonus. This is a sports offer, there is a similar Welcome offer for racing, but you can choose only one of them.
How to claim the bonus:
Unibet Risk-Free Bet
Unibet Risk-Free Bet Up to £40 in Free Bets — New players will receive risk Free bets for sports bets with odds of at least 2/5.
Unibet Welcome offer
Up to £40 in Free Bets
Risk-Free Bets FAQs
A risk-free bet allows you to keep the full or partial bet amount in case of losing. Usually, this offer is for new customers and applies to the first bet after registration.
No, risk-free bet strategy is likely a way to keep your your entire stake (or a part of it). If a risk-free bet loses, you'll be refunded with a cash or a Free bet that you can use again for bonus bets and get one more chance of getting some winnings. Without bonus bet you would simply lose the bet amount.
This is a bonus that allows you to get a refund of up to $5000. Such a mind-blowing bonus was offered by an American online-casino Caesars; it became so famous that it's still remembered today. No legal UK betting site is offering anything close to that. Maximum cash money back in 2023 is £20, and maximum Free bet payout is up to £40.