Best Risk-Free Bet Offers in the UK for June 2023

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.

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:

Bonus' T&Cs:

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.

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:

Bonus' T&Cs:

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.

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:

Bonus' T&C:

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.

Risk-Free Bets FAQs