Gambling Venues Promo Codes

New York Risk-Free Bet Bonuses and Free Money Bets

Here is a list of the best risk-free sports bets and free money credits by NY online sportsbooks


Risk-free sports bets and similar free money promotions are offered at many top New York online sportsbooks. Fanduel NY, Caesars, and BetMGM have the best free bet deals in 2022, while Pointsbet offers the most significant bonus (up to $2,000) in 2x risk-free bets. Earn a free bet when your first wager loses with the best risk-free bonuses in New York. The betting promo offers may change at any time; please check whether sportsbooks still have mentioned here free bet incentives on their sites or if these free money bet deals are expired or amount modified.

NY Sportsbooks Best Risk-Free Bet Compared

SportsbookFree Bet Offer for NYTerms
PointsBet2x Risk-Free Bets up to $2,000$1,500 on Fixed Odds, $500 PointsBetting
FanDuelFree Bet up to $1,000$10 minimum bet required
Caesars Sports$1,100 First Bet InsuranceBet bonus credit has 14-day expiration
BetMGMRisk-Free Bet up to $1,0007-day limit on free bets
BetRiversGet your first lost bet back, up to $100 in Free Money Bet Creditsfree bet promo code NYBRV

Risk-free first bets and matching initial deposit bonuses are the most prominent forms of sign-up promos provided by New York online sports betting sites. The latter is generally a percentage of a player’s first minimum deposit to their account that is capped at a specific amount. For example, DraftKings offers a 20 percent first deposit match up to a max of $1,000. 

The free bets also have limits to a certain amount and return the wagered amount to the player in the form of site credit if the first bet fails to come in. At FanDuel online sportsbook, they provide new players in New York with a free first sports bet worth up to $1,000 (in free money with no risk). 

Special for New York Free Bet Offer by Resorts World Bet App: Opt-In and Place a $50+ spread bet on either the Yankees or the NY Mets and receive $3 in Free Bets for every home run your team hits.

What are Online Betting Free Bets?

It’s a special welcome bonus tailored toward new customers. You sign up, make a deposit and place your first bet. If the bet wins, that’s great – you’ve won a profit. If the bet loses, however, you’ll receive a refund as a free bet. 

How do these online bet free promotions work? Here’s a Risk-Free Bet example:

A NY online sportsbook offers a risk-free bet worth $10-$1,000 to new players. You open an account, make a first deposit, and bet worth $500. The bet must be made at the minimum odds requirement, e.g., -200. 

Ok, what’s next?

Well, when/if your first bet loses and you’re refunded with free bet credits worth $500 within 72 hours. You now have a week or two to use your free bets on sports of your choice. Any winnings are yours to keep. 

Free Bets explained by Caesars New York.

NY Sportsbooks Free Bet Terms & Conditions

Your free bet may come with some wagering or playthrough conditions attached. Once you receive your free bet, it will sit in your account. You’ll have to use your free bet within a day or two, so always check the time limit attached to the credit. 

Some free bets have a wagering requirement attached too. For example, if the wagering terms are listed as 1x, you’d have to gamble any free bet winnings once over before you could withdraw them. 

Great! Where can you get and redeem your first risk-free bet bonus? Here we list some of the best offers by the leading NY bookmakers. All promotions tested, sites and betting apps are legal to provide sports betting services and odds in New York.

New York online sportsbooks offer a mix of free bets to new signups. While the term ‘risk-free bet’ sounds straightforward, the actual bonuses differ slightly from one another. 

PointsBet Free Bet NY

PointsBet NY: $1,500 Risk-Free Bet

Aussie fixed odds and PointsBetting sportsbook, PointsBet NY, offers a big free bet to new depositing players. In actual fact, $500 is offered on its fixed odds markets, while $1,500 is offered on its special PointsBetting lines. 

BetMGM Free Bets

BetMGM NY: $1,000 Free Sports Bet Bonus

BetMGM provides one of the biggest free bet offers in New York State. You simply sign up and make a first real-money bet worth up to $1,000. Just make your deposit and bet, and if the wager loses, you’ll be refunded to the same value. You must use your free online bet tokens within 7 days. 

FanDuel NY

Daily fantasy sports provider, FanDuel, also provides a risk-free bet deal to new sports betting real money customers. If your first bet loses, you’ll be credited with a free bet to the same value within 72 hours. You can use your free bet on any market in the FanDuel Sportsbook. 

DraftKings NY Refer a Friend Free Bet Offer

You can claim free bets when you open your DraftKings New York sports betting account and refer a friend. The current bonus is a free bet worth up to $100 when your friend signs up and makes a deposit. The free bet terms and conditions at DraftKings Sportsbook are pretty straightforward. You simply send your friend a referral link which they must use to open a DraftKings NY account. 

Once signed up, both you and your friend will earn a “free bets” prize. You’ll both get a $25 free bet if your friend deposits $25–49. You can both get a $50 free bet if your pal deposits between $50 and $99. Finally, you’ll both receive a $100 free bet if your friend deposits $100 or more. 

The free bet is valid for 30 days and the value of the bet is always deducted from any winnings you make. In addition, if you refer two friends to DraftKings, you’ll receive an odds boost to use on a college basketball game of your choice. There are one or two restrictions to this offer, however: the maximum bet is just $10 and there is a maximum return of $100 applicable. Pregame singles wagers only are permitted so you’ll be restricted from making in-play bets. 

Alternatively, you can get $50 in Free Bets for you and your friend when you refer friends to Resorts World Bet New York.

Free Bets and Free Money Bet Promos for NY

How to Claim and Redeem a Free Bet

You can get free money bet by claiming your free bonus bets (cash) by opening a sportsbook account. It only takes a minute to set up the sports betting account but you must be 21 or over. You will also need to be located inside New York State borders when you make your first bet. 

  1. Download the sportsbook app from the App Store (iOS) or Google Play Store (Android). It’s free to install but make sure you’re running iOS 13.0+ or Android 7.0+ for the best performance. You can also sign up online through your PC browser with no need to download.
  2. Create your account by providing some personal details such as your full name, email address and date of birth. 
  3. Check if you need to enter one of these promo codes, plus the last 4 digits of your Social Security Number (SSN). Confirm your email address by clicking on the email sent to your inbox. 
  4. Log in to your sportsbook account and make a first real-money wager, making sure you adhere to the minimum odds requirement. The bet must usually be a single bet such as a moneyline or point spread. 
  5. If the bet loses, you receive a free bonus bet to the same value as your first wager. 

Free Online Bonus Bets FAQs

What is a free bet rollover requirement?

According to PointsBet NY, the Free Bet winnings have no rollover requirements. So, if you, let’s say, win $100 off a Free Bet, those funds are immediately withdrawable.

Can I earn free bets as an existing customer?

Yes, many online sportsbooks in New York has loyalty program and reward schemes, such as Caesars Rewards or PointsBet Rewards. For example, each time you bet at PointsBet you earn so called Reward Points that you can later exchange for free bet credits. For parlay wagers, you earn 1 point for every $1 wagered and 250 points are equal to $2.50 Free Bet Credit.

What is a minimum first bet required to qualify for a free sports bet?

It varys from book to book. At Fanduel you can just bet $10 to earn a Free Bet up to $1,000. A customer’s first $5 bet qualifies for a DraftKings NY free bonus bet.

How old must you be to bet in New York?

Must be 21+ and physically present in New York to place online/mobile wagers.

What betting apps give you free bets?

In New York betting apps where you can claim your free bet include: Draftkings, Caesars, PointsBet, Resorts World Bet NY sportsbook app (Risk-Free Bet up to $500).

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Best New York Risk-Free Bet Bonuses
Claim your risk-free bet today when you sign up to one of our favorite NY online sportsbooks: BetRivers, Caesars, Draftkings & PointsBet. T&Cs apply.