Risk-free bets in Wisconsin
Online gambling is big business, and the industry is booming in Wisconsin. With so many betting sites on the market, everybody is keen to attract new customers. That’s why most sites now have special sign-up promotions to encourage gamblers to open an account. A risk-free bet is one of the most popular welcome bonuses on Wisconsin betting sites.
But what is risk-free betting? Is it truly risk-free? How does it work, and how can I use it? Read on, and we’ll tell you everything you need to know about risk-free bets in Wisconsin.
About risk-free bets on Wisconsin sportsbooks
A risk-free bet is a special offer where you will still get something back even if your initial bet loses. The betting platform might reimburse your loss as cash, but it is more likely to be a free bet or site credit.
A risk-fee bet returned as cash is by far the most valuable option. However, this inevitably has strings attached. In horse racing, for example, you are unlikely to get your money back if you bet on a horse that simply loses. However, you might if your pick is second behind the SP favorite or if it is beaten by half a length or less. Here, though, there is a considerable danger that your horse will lose without fulfilling the bonus conditions.
Risk-free bets are often returned as non-withdrawable site credits or free bets. Thus, once you win the bonus wager, you can only withdraw the winnings, not the bonus stake. This might apply to an offer of a risk-free bet on the Packers to win at the weekend. If Green Bay loses, the free bet arrives with no strings attached. However, to recover your loss on the Packers game, you need to pick a winner, ideally at even money or better.
How to claim a risk-free bet in Wisconsin
Although many sportsbooks and betting sites in Wisconsin offer risk-free bets, you need to ensure you know how to claim before you can benefit. In most instances, customers must sign up for the bonus using a unique promotion link. Other times, there might be a promo code or opt-in on the site. Once you are ready to find your preferred bookmaker in Wisconsin, the following steps are crucial when claiming your risk-free bet:
Terms and conditions of risk-free bets in Wisconsin
As much as the online betting arena is full of risk-free bonuses and free sports bets in Wisconsin, caution should always be on the bettor’s mind. The terms and conditions usually differ from one bookmaker to another.
Because of this, it is vital to identify the key pointers to watch out for regarding risk-free bets in Wisconsin. Let’s dive deeper into some significant elements to focus on to get the best out of your risk-free bets:
Risk-free betting strategy on WI sportsbooks
Matched betting is a strategy that can ensure that the risk-free bet bonus will generate a guaranteed small reward. It’s important to note that this will never be a life-changing sum, but it can make for some nice pocket money.
Look for risk-free offers where you can place a qualifying bet on a market with just two outcomes. After placing the qualifying bet, you can then make a covering wager on the other outcome, using a stake smaller than your potential win.
Example: if we back the Packers to beat the spread against the Giants at -110, a $50 bet will return $95, or a $50 free bet if the Giants overperform. That’s a potential win of $45. Spread markets tend to have the same price for both teams. Therefore, by betting $40 on the Giants to cover the spread, we get a $5 profit overall if the Packers get the job done.
If the qualifying bet loses, we’re down by $9. Luckily, we can use the free bet to recover that loss. Again, we want a two-way market, and we’re looking for a specific odds range. Ideally, we want an outsider priced at +150, with a favorite at -200. Use the $50 free bet to back the outsider for a total return of $75. Bet $50 cash on the favorite for a total return also of $75. Whatever the outcome, you get $75 after risking $50 of your own money. That’s up $25, wiping out the $9 loss on the original bet.
This strategy can work, at least while risk-free bets are available. However, make sure that the terms of your chosen bonus offer will allow you to do this.