Risk Free Bet: Free Bet Refund
Bet Finder Introduction
If you are new to using Bet Finders on DarkHorse Odds start by reading our Bet Finder Basics guides to learn how to use all the available features such as filters and editing your Bet Slip.
It is important to understand that Free Bet can be converted to cash at ~70%. Read more here.
- Converting a Risk Free Bet is a one or two step process
- Step two is only needed if the Risk Free Bet loses
- It does not matter if the initial Risk Free Bet wins or loses, the profit is the same
- This guide focuses on Risk Free Bets refunded as a Free Bet
- Use the DarkHorse Odds Risk Free Bet Finder to convert, and be sure to select the proper refund type
What is a Risk Free Bet?
If you do not have a general understanding of how Risk Free Bets start with our Introduction to Risk Free Bets guide before proceeding.
Risk Free Bets are bets that you place with your money, but if the bet loses you receive a refund. Here we will examine a Risk Free Bet that is refunded as a Free Bet.
Converting a Risk Free Bet
In all our Risk Free bet guides we use the example of
- Pistons Money Line at +305
- Raptors Money Line at -335
This example shows how to properly use the Risk Free bet Finder for the MGM $1,000 Risk Free Bet sign-up offer. The key takeaway is that it is refunded as a Free Bet. It is important to understand that a Free Bet can be converted to cash at ~70%. Read more in our How To Convert a Free Bet guide.
Enter Risk Free Bet Criteria
Select the Risk Free Bet Finder.
In all of our guides, we filter to “Main Lines Only” as a way to avoid limits. Limits will greatly reduce your long-term earnings potential. Learn the best practices on avoiding sportsbook limits in our Don't Get Limited guide. You can apply this by selecting Filters -> Main Lines Only. This is not required but highly recommended.
This sets Market Type to Money Line, Spread, and Total. It also sets Market Segment to Full Time+ and Full Time.
Select Your Matched Bet
Place Your Matched Bet
After selecting the bet you want, viewing the bet slip provides all the details needed to properly hedge ensuring maximum profit. In this example on MGM you would place the $1,000 Risk Free Bet on the Pistons money line at +305. Then place a $2,580 Hedge Bet on DK on the Raptors money line at -335.
Clicking the information icon on the bet slip above displays further details explaining exactly how you profit $470 no matter the outcome of the event.
This is where it is important to understand that if the Risk Free Bet wins you profit $470 immediately. If the Risk Free Bet loses, you need to perform a second step, converting the Free Bet refund. Once you convert the Free Bet refund at an expected conversion rate of 70% you will profit $470.