Table of Contents

Risk Free Bet: Free Bet Refund

Level: Beginner
Updated: Mar 15, 2023
2 min read

Key Takeaways

If you are new to using Bet Finders on DarkHorse Odds start here to learn how to use all the available features such as filters and editing your Bet Slip.

In all of our guides, we filter to “Main Lines Only” as a way to avoid limits. Learn more here.

If you do not have a general understanding of how Risk Free Bets start here 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.

It is important to understand that Free Bet can be converted to cash at ~70%. Read more here.


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.

Use the Risk Free Bet Finder.

Filter to main lines only. Not required, only recommended.

Choose the sportsbook you have the Risk Free Bet on, enter the bet amount, then select the refund type.

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 “Details” or the information icon 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.