Type of Bonus
Risk Free Bet of up to $300
Type of Bet
Single Bet
Optimal Strategy
$300 bet on longest odds possible (-500). This is in order to maximize the expected value of the refund when you lose a bet.
Theory Behind Optimal Strategy
The theory here is that for a risk-free bet you should maximize upside rather than opting for safety. If you bet $100 at -10000 to win $101, your free bet will only net you a positive gain of $1, and if you lose your bet, you get your $100 back. So the binary outcomes are $100 (loss, free bet cost replaced) and $101 (win). However, if you bet $100 at +1000 to win $1,100 your outcomes are $100 (loss, free bet cost replaced) or $1,100 (win).
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States Legal
NJ, WV, CO, IN, IL, MI, IA, VA, TN
Deposit Required for Maximum
$300
Playthrough Required
Not required
*A playthrough, also known as a rollover or wager requirement, details how many times a person has to wager their bonus amount before they can withdraw funds. For example, a 5x rollover requirement means a bettor would have to wager their deposit and bonus amount five times before they could withdraw.
| Site | Type | States | Deposit Required for Max Bonus | Rules | Playthrough Required for Max Bonus | Max Bonus | avg rake | Rake Free EV (break even bettor) | Rake EV | Rake Free ROI | Rake ROI | Optimal Strategy |
| William Hill | Risk free bet | NJ, WV, CO, IN, IL, MI, IA, VA, TN | $1,000.00 | Odds longer than -500 | n/a | $1,000.00 | 4% | <$300 | <$288 | 100% | 96% | $300 bet on longest odds possible. This is in order to maximize the expect value of the refund when you lose a bet. |
