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Risk Free Bet Offers, Bonuses & Promo Codes 2024

Written by: Richard Janvrin
Updated January 10, 2023
25 min read

Risk Free Bet Offers in New Jersey

New Jersey was the first state to legalize and promote sports betting in the US after the repeal of PASPA (aside from Nevada of course). This factor along with its central location in the heart of New England has culminated in New Jersey becoming the sports betting Makkah of the United States, at times even surpassing Nevada as king of sports betting.

No other state even comes close to offering such a wide variety of choices in sports betting as sportsbooks operating in New Jersey. There are around fourteen major mobile sportsbooks operating in the state with more and more popping up all the time.

Out of those sportsbooks, thirteen are offering risk-free sign up bonuses for new players. This is happening because of fierce competition in the state to sign up new players and claim them as their own. This leads to unprecedented deals.

Check out the tables below to see and compare the best deals for free bets and read the info on each of these sportsbooks below that. For a complete list of all the sportsbook betting bonuses in NJ (not just risk-free bonuses) check out our Best NJ Sportsbook Bonuses page.

New Jersey Risk-Free Betting Offers

SportsbookRisk-Free OfferClaim Free Bet Now
BetMGM$500Claim Now
DraftKings$1000Claim Now
FoxBet$500Claim Now
FanDuel$1000Claim Now
Caesars Sportsbook$5000Claim Now
888Sport$500Claim Now
Borgata$300Claim Now
Resorts$250Claim Now
TVG$200Claim Now
PointsBet$200Claim Now
Golden Nugget$100Claim Now
Hard Rock$100Claim Now

BetMGM Sportsbook

Quick Facts:

  • BetMGM offers up to $500 risk-free bet promos

  • If you lose then the risk-free bet money turns into credits on your account that you can bet with

  • The free bet credits you are given will expire in seven days so be sure to bet them! Use it or lose it!

  • Promo available in NJ, IN, NV, WV, CO

  • Promo Code: WSN

At one point BetMGM offered an unrivaled risk-free bet previously unheard of in the industry. Up to $500 in cashback risk-free betting on your first wager. That meant that if you lost your first wager of up to $500 then you could redeem your money back no strings attached.

That amazing offer has since been pulled back slightly so that the cashback feature is now a credit back bonus. That means instead of being able to withdraw the $500 you lost on your first wager you are now given $500 worth of credits to bet with in the future. This means that you can bet with the $500 credits and then all winnings you get from wagering the credits become your withdrawable winnings.

There is always a catch and with this offer, the catch is that you must use your risk-free bet credits within seven days of being awarded them.

Keep up to date with the latest BetMGM bonus codes so that you never miss an offer.


Quick Facts:

  • DraftKings offers a $500 matching bet

  • Free bet must be used within 30 days of the first bet

  • Free bet not redeemable for cash out but must be wagered

  • DraftKings has a large menu of bettable sports on their app

  • Good integration of DFS on the app (where available)

  • DraftKings offers a rotating list of promos so check back for changes!

  • Promo eligible in NH, NJ, WV, IN, PA, IA, CO

  • Promo ends 1/1/2021

DraftKings sportsbook is competitive in just about every way. They are definitely the largest if not one of the largest sportsbooks operating in the US today, and with that momentum comes the ability to offer some of the most competitive deals available.

Unlike some other major sportsbooks active in the US, DraftKings was established in the USA, something they are very proud of. Draftkings is also well known for its advanced security features

One of the only detractions with DraftKings Sportsbook is that it has so much to offer that the app navigation can sometimes be tricky to deal with.


Quick Facts:

  • 888sport offers $500 risk-free bet with a deposit

  • If your bet loses you get your money back in free bets within 72 hours

  • Free bets expire after 7 days

  • Promotion is for first-time customers only

  • Promotion available in NJ

  • Promotion is valid until December 31st, 2021

888sport is up there among the best promotions currently available with their generous $500 risk-free bet.

888 also has other small promos such as their $10 live bet bonus in which you get a free $10 bet just for making your first live bet. Perks like these may seem small but are worthwhile to sign up with a sportsbook that offers such incentives since they can add up over time.


Quick Facts:

  • TVG offers a $200 risk-free bet with a single horse win a bet

  • Offer only open to new TVG account holders.

  • Refer-a-friend promo. Each referral awards you $25 in free bets

  • Promotion available in PA, NJ

TVG has carved out a niche for itself as the premier horse racing sports betting app on the market. Although other sportsbooks offer betting options on horse racing, TVG has gone all-in on horse racing making it one of the most specialized sportsbooks on the app store.

TVG horse racing sportsbook is a great experience and is nearly unrivaled due to the effort they put into its single-sport focus.

TVG may not have the biggest risk-free bonus but they do offer a referral bonus for signing up new customers. The sign-up bonus does not have a limit so theoretically you could sign up one hundred of your friends.


Quick Facts:

  • Two Risk-Free Fixed Odds Bets up to $100 totaling $200 in Risk-Free Bets

  • Weekly Thursday Twitter Trivia contests with three winners every week for $100 free bets

  • Available in NJ, IA, IN, CO

PointsBet is a well-established sportsbook with a revolving door of offers. With PointsBet it pays to regularly check back on their webpage due to their “Booster” bets. These bets are special odds offered to their customers that are a little better than the standard odds offered by other sportsbooks.

They have many other offers so check out their constantly changing promos on their website including


Quick Facts:

  • $1,000 sign up bonus comprised of a $500 Risk-Free Bet and a $500 Deposit Bonus

  • Unique streaming feature with Fox Sports

  • Deposit bonus match of 50% up to $500

  • Minimum deposit of $10

  • Available in NJ, PA

  • Daily Bet Boosts

FoxBet Sportsbook has the unique advantage of being affiliated with one of the largest and most established Sports broadcasters in the US. As a part of the FOX brand, they have access to unique streaming services.

FoxBet also offers a wide variety of sports betting options to wager on and they are connected with PokerStars online Casino making it easy to transition from sports betting to traditional gambling, if legal in your state.


Quick Facts:

  • $1000 Risk-Free Bet on any sports bet.

  • $5 bonus when making your first deposit on FanDuel DFS

  • $200 risk-free wagering on FanDuel Casino

  • $5 free upon sign up for FanDuel Racing

  • $10 minimum deposit

  • Available in NJ, PA, WV, IN, IA, CO

  • Risk-free betting credits must be used within 72 hours of receiving them


FanDuel sportsbook is also known as one of the largest Daily Fantasy Sports platforms but this has not held them back from being an excellent sportsbook platform as well.

FanDuel may have been late to the game when it came to opening up in NJ but despite their late arrival, they have snagged the spot as the highest-rated mobile sportsbook in NJ.

Despite being late to NJ they were one of the first sportsbooks to enter Pennsylvania.

FanDuel implements a withdrawal function known as a “play-through” requirement. The play-through requirement means that in order to cash out your initial winning you must first wager an equal amount to your winnings.

Golden Nugget

Quick Facts:

  • $100 Risk-Free Bet on first bets as a welcome offer

  • The Risk-Free bet offer is only available if your first bet is for exactly $100

  • Available in NJ, NV

  • Seamless transition between casino and sports betting

Golden Nugget Sportsbook is an excellent choice for bettors who partake in both casino betting and sports betting due to their seamless transition between their casino platform and their sportsbook. This feature enables you to take winning from the casino app and use them directly on the sportsbook for wagers there.

Golden Nugget is also constantly changing promotions on their website for new and returning users so it is worth your while to check back for offers.

Hard Rock

Quick Facts:

  • $100 Risk-Free Bet no bonus code required as a welcome offer

  • Hard Rock takes minimum bests as low as $0.01

  • Available in NJ, IA

  • Has good customer service options

Hard Rock sportsbook’s minimum bet offer sets them apart from the competition who normally has a minimum bet of around $5. One cent bets may seem ridiculously low but there is an advantage to the new bettor who is just getting a feel for their surroundings.

Hard Rock is also one of the sportsbooks out there that offer in-game betting options allowing you to conduct live wagers while you watch the game. This allows for a new dynamic betting style where you can participate in the game live.


Quick Facts:

  • Up to $250 Risk-Free bet for new users

  • Available in NJ

  • Free bets can be found on the Free Bet Bonus page

Resorts Sportsbook has a very organized and well laid out platform that offers a variety of sports betting options. The home screen has also been highly rated for its quality information that it provides including the streaming capabilities of live sports matches.

Some things that are not so great include that the app does not have an express login option meaning that you must log in the hard way every time you want to place bets. That means having to enter your email and password every time, which goes without saying is not very nice.


Quick Facts:

  • Up to $300 Risk-ree bet for new users

  • Required minimum deposit $10

  • Available in NJ

  • Must be in NJ and 21 years of age

Borgata Sportsbook may be the new kid on the block but they are offering a healthy amount of features in order to compete with the more established sportsbooks.

Borgata offers a daily odds boost, the boost is intended to help players move the odds a little more in their favor. The odds boost is a daily feature and changes every day.

Borgata offers betting on all major leagues in the US and from other countries including college football. The app has an easy to use built-in feature to help sort the different leagues making it easier to find the sport and match you want to bet on.

Risk Free Bonuses And Codes

Risk-Free Bet Offers in Pennsylvania

SportsbookRisk-Free OfferClaim Free Bet Now
DraftKings$1000Claim Now
FoxBet$500Claim Now
FanDuel$1000Claim Now
TVG$200Claim Now

Pennsylvania is certainly not New Jersey when it comes to the availability of sport betting apps, but they still have a healthy range of sportsbooks, and among those, there are five competitive offers on risk-free betting. For more information on how and where to bet in Pennsylvania check out our state review page. For a more complete list of all the betting bonuses and promo codes offered in PA check out our Best PA Sportsbook Bonuses & Promo Codes page!

Click any of these offers below to be directed to more info on these risk-free betting offers

Risk-Free Bet Offers in West Virginia

SportsbookRisk-Free OfferClaim Free Bet Now
DraftKings$1000Claim Now
BetMGM$500Claim Now
Caesars Sportsbook$500Claim Now
FanDuel$1000Claim Now

The Mountain State legalized sport betting in March 2018 and since then many sportsbooks have opened up in the state. Out of all of those sportsbooks, five are currently offering risk-free betting bonuses.

Click any of the links below to read more on the risk-free bonuses in West Virginia. If you want to find out more about all the betting bonuses and codes check out our comprehensive West Virginia bonuses page.

Risk Free Bet Offers in Nevada

SportsbookRisk Free OfferClaim Free Bet Now
BetMGM$500Claim Now
Golden Nugget$100Claim Now

Sports betting may have been legalized in Nevada way way back in 1949 and although there are many physical sportsbooks there is still a deficit of mobile sportsbooks. But not to be outdone when it comes to betting in Nevada now offers a lot of mobile sportsbooks and among those there are two that currently offer a highly competitive risk-free bet sign-on bonus.

Click any of the links below to read how the offers can work for you! The sports betting situation in Nevada is an evolving issue. Check back with us to stay on top of the developments there.

Risk Free Bet Offers in Illinois

SportsbookRisk Free OfferClaim Free Bet Now
DraftKings$1,000Claim Now
BetRivers$100% UP TO $250Claim Now

The Land of Lincoln legalized sports betting in June 2019 and sports betting began in earnest during the Summer of 2020. No longer will bettors be forced to travel to East Chicago in Indiana to place legal bets on their favorite sports. 

Click on any of these legal sportsbooks in Illinois to learn more about the risk-free bet offers and promotions going on now! 

Risk Free Bet Offers in Indiana

SportsbookRisk Free OfferClaim Free Bet Now
BetMGM$500Claim Now
Caesars Sportsbook$5000Claim Now
DraftKings$500Claim Now
FanDuel$1000Claim Now
PointsBet$200Claim Now

The Hosier States loves sports betting and has long had bettors from Chicago come across state lines to place bets in Indiana casinos. Maybe that is why Indiana has good promotions from four separate sportsbooks when it comes to risk-free betting promotion.

Click on any of the listed sportsbooks to learn more about the offers and how to claim your risk-free bets! If you want to see all bonuses and promo codes offered in IN, not just the risk-free ones, then check out our IN bonuses page!

Risk Free Bet Offers in Iowa

SportsbookRisk Free OfferClaim Free Bet Now
DraftKings$500Claim Now
FanDuel$1000Claim Now
PointsBet$200Claim Now
Hard Rock$100Claim Now

The Hawkeye State has a competitive amount of risk free betting bonuses for bettors within its state lines including some of the largest betting bonuses available in the nation.

Below are the three sportsbooks offering risk free betting bonuses right now. Click on any of the links to read more about the offers.

Risk Free Bet Offers in Colorado

SportsbookRisk-Free OfferClaim Free Bet Now
DraftKings$500Claim Now
Caesars Sportsbook$2021Claim Now
FanDuel$1000Claim Now
BetMGM$500Claim Now
FoxBet$500 (+ a $500 bet match)Claim Now
PointsBet$200Claim Now 

If you are from the Centennial State then you are very lucky when it comes to risk-free betting. Coloradoans get to choose from among the best risk-free sportsbook offers in the country, four of which are for $500 risk-free bets! Check out our Colorado sports betting page to learn more.

Below is a list of the risk-free bets available in CO. Click any of the links to read a short review on the risk-free bet offer and see any restrictions.

Risk-Free Bet Offers in Tennessee

SportsbookRisk-Free OfferClaim Free Bet Now
BetMGM$500Claim Now
DraftKings$50Claim Now
FanDuel$1000Claim Now

The Volunteer State is the latest in a long series of states to legalize sports betting with sports betting set to go live Nov 1st, 2020. With that in mind, there is a rush of sportsbooks entering the state by the live date.

Check out the sportsbooks below to read more about the specific offers they are promoting now and decide for yourself which one is right for you.

Risk-Free Bet Offers in Michigan

SportsbookRisk-Free OfferClaim Free Bet Now
BetMGM$500Claim Now
DraftKings$1000Claim Now
FanDuel$1000Claim Now
Caesars Sportsbook$5000Claim Now
PointsBet$200Claim Now

Michiganders are no stranger to sports betting having legalized in state in early 2020. This means that sportsbooks have had time to offer some truly great deals there including some fantastic risk free bet offers. Check out the sportsbooks in the tables above and below to see what is available of you take advantage of today!

Daily Fantasy Sports Risk-Free Bets

DFS is huge in the US and is legal in nearly every state. Below is a list of the sportsbooks that offer Risk-Free DFS deals. If you’re just getting into playing DFS then check out our Daily Fantasy Sports Guide.

FanDuel DFS

When it comes to Daily Fantasy Sports FanDuel is the undisputed king. No one else has the same availability across the US or the ability to offer such amazing sign-up bonuses. Sign up with Fanduel and you can look forward to Free Play contents where you can win money to bet without having to put anything down.

FanDuel currently offers a $5 Free bet and another $5 Free upon your first deposit. This may not seem like much compared to the $500 risk-free bet sign up bonus FanDuel offers on their sportsbook. This is because the DFS market is not competitive compared to the sportsbook scene.

If you are interested in signing up with FanDuel’s sportsbook then check out this link to read a short review of the promotions.

Horse Betting Risk Free Bets

There aren’t that many sportsbooks offering risk-free promos on horse racing but the ones that do are really good. Below are the two sportsbooks offering risk-free promos on this highly specialized kind of betting.

TVG Sportsbook

Most sportsbooks offer horse racing as an option to bet on but no one does it like TVG. TVG sportsbook has gone all-in on horse racing making their entire platform catered to the sport.

Some of the promos at TVG include a $300 risk-free bet on deposit and a rewards program where users get points for each bet they make that can later be used for free wagers. Check out the other pros with signing up with TVG by clicking here.

TwinSpires Sportsbook

TwinSpires is another major sportsbook with a keen eye towards horse racing. Even the name TwinSpires may be a reference to the famous Churchill Downs Racetrack twin spires that dominate the grandstands, but this is unconfirmed.

TwinSpires does not offer a risk-free bonus but they do have other promos and that is why we included them on our list.

At TwinSpires every $100 in bets can get you a bonus of $20 with which to bet.

This isn’t the only promo at TwinSpires, check with the sportsbook to see the rotating promos as they change frequently.

Risk Free Bet Promo Codes

Some sportsbooks offer exclusive promotions available only with the promo code. Check out the following promo codes to get special deals upon opening an account.

Sportsbook States AvailableRisk-Free Promo OfferRisk-Free Bet Promo Code
BetMGM (Bet now)IN, NV, WV, CO, NJ$500 Risk-Free BetWSN
FanDuelNJ, PA, WV, IN, IA, CO$1000 Risk-Free BetBESTPROMOCODE

What Is a Risk Free Bet?

A “risk-free bet” is a term referring to an offer given by a sportsbook in which the risk on your first bet is minimized so that it is impossible for you to lose money when you lose the bet.

Risk-free bet promotions are the latest fad in an industry that has popped up overnight. With more and more states legalizing sports betting every year the competition to sign up as many new customers is on.

This means that the sportsbooks are fighting for you to choose them over the competition. This competition is excellent for the consumer since sportsbooks are giving out newer, bigger, and better offers to attract your attention. Que in the risk-free bets!

How to Place a Risk Free Bet

To go into detail of how to place a risk-free bet here is a step by step of how it works:

  1. You open an account with BigWins Sportsbook (fake sportsbook) because you saw that they are offering risk-free bets.

  2. Next, you must deposit money so that you can have funds to bet with. Keep in mind that many sportsbook’s risk-free bonuses are not without some conditions. For example, many sportsbooks have a minimum first bet so you may end up having to bet a minimum of say $150 to activate your risk-free bet. Let’s say you upload $300 to start out with. So now you have $300 with which to place bets.

  3. For your first bet you decide that the Dolphins are going to be the Patriots at the next Super Bowl so you bet $300 on that happening.

  4. The Super Bowl happens but the Dolphins lose and you lose your $300 too, but not with risk-free betting! BigWins sees that you’ve lost your risk free bet and so they award you with $300 in credits to the sportsbook.

You can now use your $300 worth of credits to bet with.

If on the other hand the Dolphins actually won the Super Bowl then you would just collect your winnings as usual and your risk-free bet did not have to kick in since it wasn’t necessary.

Risk-free betting is an awesome way to get into sports betting for people who are nervous about putting real money wagers down for the first time or for those who are interested in sports betting but scared that they may make the wrong choice. In either case, you essentially are being offered a free bet that can’t lose.

What Happens If I Win a Risk Free Bet?

If you win your risk-free bet then you collect your winnings and move on! A risk-free bet is there as a safety net in case you lose.

It is kind of like car insurance (except it is free!), if you don’t wreck your car then there is no problem but if you do wreck your car then you’re likely to be very happy that you had the insurance to cover the damage.

Can You Win Money on Risk Free Bets?

The short answer is Yes. Risk-free bets are real bets with real money on the line. The only difference is that if you lose your bet then you don’t lose your money and you are allowed to wager it once more on the platform.

Some restrictions apply depending on your sportsbook. A common restriction is a time limit imposed on your risk-free bet.

If you lose your wager on a risk-free bet then the money that you lost will be credited back to your account but with a time limit. Time limits can be as short as less than a day or as long as 72 hours. It helps here to be aware of what your restrictions are!

Super Bowl Free Bets

The Super Bowl is the single biggest sporting event of the year with betting at last year’s Super Bowl reaching an estimated $6.8billion! Even people who do not typically participate in sports betting sometimes make an exception for the Super Bowl.

With so many first time bettors getting a piece of the action there is fierce competition going on parallel to the action on the field, and that is between the sportsbooks trying to get you to sign up with them.

Sportsbooks compete with each other by offering promos. Here is a shortlist of the promos we’ve seen in the past and the ones that are likely to return for this year’s Super Bowl.

Here are some Super Bowl promos we’ve seen in the past from major sportsbooks that will likely happen again.

DraftKings Sportsbook Super Bowl Jackpot

DraftKings is the 800lbs Gorilla in the room when it comes to sportsbooks so it makes sense that they would be the ones to roll out the red carpet for Super Bowl free bets and in Super Bowl LIV they outdid themselves with a massive $200,000 jackpot.

Every $10 bet on the Super Bowl granted you a ticket to the $200,000 Super Bowl jackpot.  The drawing took place on Feb, 5th and needless to say it was watched by many people.

Other promotions for the Super Bowl by DraftKings included a $25 free sign up promotion and other contests and games with a $54k prize pool. Keep watch on DraftKings this next Super Bowl as the prize pots are likely to only get bigger!

FanDuel Sportsbook Super Bowl Promos

FanDuel is known as one of the biggest DFS operators in the US so it goes without saying that the Super Bowl is one of their biggest events. At Super Bowl LIV FanDuel offered customers a chance to make fifteen prop bets on the game free of charge with those who correctly selected 12/15 of their bets winning a free $100. For those lucky bettors who guessed all fifteen bets correctly, there was a free $15,000 grand prize waiting for them!

BetMGM Sportsbook Super Bowl Promos

Not to be outdone BetMGM offered an unprecedented bet they labeled the “Bet $1, Win $200”, and it was as good as it sounds. The offer details were that if you bet at least $1 on the game then you were awarded an additional $200 in free bets to use on their site in the next seven days.

It is unclear if BetMGM will bring back this offer this year so check back to see if they follow through!

Caesars Sportsbook Super Bowl Promo

Caesars offered new customers on the Day of the Super Bowl an offer to be eligible to receive up to $300 worth of site credit after betting on the moneyline or point-spread for the game. This offer was a risk-free bet since if they lost then the amount would be replaced on their account in the form of credits to be bet with in the future.

Free Bet Promotions Tips and Strategies

Bettors by nature are always looking for an edge on their sports betting, some people believe in luck and will only bet if they portend the signs are with them while other bettors take a Moneyball approach and become expert number crunchers.

We offer a third strategy for sports bettors looking to take the initiative away from the sportsbooks and increase their odds at winning bets.

Regulated sports betting states are currently in a rapid growth state and are engaged in a battle over user account acquisition. Each sportsbook wants your name on their account holding list and they are offering ever-greater incentives to win you over, but there is no law or rule saying that you must have only one account.

This leaves an open door for exploitation if you have the patience to do it. If you are studious you can take advantage of the offers and open multiple accounts. Constantly checking the odds and promotions of various sportsbooks against each other.

Below is our guide to doing just that.

Disclaimer: Sportsbook deals often come with strings attached to their promos. A common catch with deals like this is a timer set on the deal. Say you got a risk free bet from a sportsbook, there will often be a timer running down on your risk free bet meaning that you must spend it before a certain amount of time runs out. Keep track and be aware of the disclaimers.

How to Take Advantage of Opening Multiple Sportsbook Profiles

With so many offers across the board for opening new accounts, there is more than enough of an argument for opening multiple profiles with multiple sportsbooks. There are several advantages to this strategy with a few detractions mainly being that it is a lot to keep track of.

Be aware that opening multiple accounts is not a perfectly easy strategy, inevitably you will have to create some sort of spreadsheet to keep track of your various accounts, offer expiration dates, and times to bet that if you follow through the rewards can be worth the effort.

How to Do Risk-Free Betting Exploitation

Since there is a minimal risk of loss with risk-free betting offers it can be advantageous to make the jump and open multiple accounts even if you don’t intend on following through past your risk-free betting stage.

If for instance you lived in NJ and decided you wanted to take advantage of all the risk-free bet offers available to you in the state across multiple sportsbooks then you would have an added total of $3,900 in risk-free bets.

If you were already intended to bet that much then you might as well do it intelligently in order to maximize your profits and minimize your losses.

Comparing the Money Lines Strategy

It is no secret that sportsbooks sometimes offer slightly different odds. Each sportsbook hires world-class oddsmakers that dissect every aspect of a game before releasing the odds. Factors can include factors as obvious as home-field advantage and injuries as well as much less obvious factors like if a particular team is used to practicing on astroturf or not.

With that in mind sometimes there are discrepancies between different sportsbooks when it comes to the money lines, especially if the games are low profile. Keeping track of these various money lines is a good point for keeping your multiple sportsbooks active after you have taken advantage of the one-time risk-free betting promotion.

How to Take Advantage of Revolving Sportsbook Promotions

Sportsbooks also offer recurring promotions that often come and go depending on what major events are going on. Keeping your multiple profiles open and consistently scanning the revolving door of promotions is a great way to take advantage of the various deals.

If you can successfully ride the wave of promotions then you could theoretically nearly double your money down since many offers are match bets (we’ll match your amount spent).

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Richard Janvrin

550 Articles

After graduating from the University of New Hampshire with a BA in Journalism, Richard Janvrin has been covering iGaming and sports betting since December 2018. Richard has covered betting at Bleacher Report, Gambling.com, The Game Day, Forbes, and more.

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