A recent change in US laws regarding Sports betting have led many states to adopt legal sports wagering. As several sports books are rolling out their platforms to new gamblers all over the country, they are offering some great sign on bonuses!
While most sportsbooks have some sort of sign on bonus, the best one I have come across is the risk free bets up to $1000. That means you can sign up, deposit your money, place a wager and get the full amount credited back to your account if you lose the bet! You literally cannot lose.
Four major sports betting platforms are offering a minimum of a free $500 bet for new users. I have taken advantage of the offers to generate some quick risk free cash.
Basically, all I have done is deposit $500 into each of four sportsbooks. (FoxBet, DraftKings, FanDuel, and MGM) From there I have mad opposing bets of $500 each, one on each platform to guarantee you will win half of the bets. I did this on two different games, but you could make four bets, two each on one game.
I picked the bets that offered closest to even odds to get a consistent payout, yes, you are going to lose some money to the house edge (vig) but remember, you are getting one of the full bets back anyways, so you will almost double your total after the game is settled.
Here is an example bet:
This baseball game is essentially a pick-em game. Either team to win pays -108. (you win $100 for every $108 bet) Your $500 wager on each team will pay $465. If you can, make sure to bet $500 on each team per platform so you will maximize the bonus offer, and remember, if you bet the Cubs on one site, you'll want to bet the reds on the other site. One bet will pay $965 ($465 + $500 wager) for the win, and the other bet will lose, leaving your account balance at $0 after the bet settles.
From there you can cash out the $965 from the winning bet, the account with the losing bet will be credited the $500 that you lost. Some sites will refund the wager immediately, and some may take a few days for the credit to show up, but I have tested this out on FanDuel, and the bet was credited within 24 hours.
After the credit comes back, you now have a new balance of $1465, thats a nice profit of $465 for taking no risk and investing just a little bit of time! From here you can play with the credited balance if you want to continue to bet sports. Each site has different rules for cashing out the refunded bet, you may not be able to cash it out immediately, check with the sites conditions to see what needs to happen before cashing out. You may have to make a few more bets and play through the balance to meet requirements. Even if you have to make some more wagers, a conservative strategy should allow you to get most of the money eligible to cash out soon.
This is one of the best easy money opportunities I have seen in a long time, and a great time to take advantage! I don't think these offers will last long. If you are in a sports betting legal state, take this opportunity now to get your risk free bets in!
Sports Gambling carries risks, and there is no guarantee that you will not lose money when placing wagers. Please consider the risks involved before placing any bets.