You may have heard the term No Sweat Bet thrown about in betting circles, but what exactly is this bonus and how does it work? Read on to find out more about no sweat bet offers and how you can implement them into your betting strategy.
No Sweat First Bet Guide: How to Bet on Sports With Insurance
A No Sweat First Bet (also labeled insurance/Bonus Bet/second chance/protected/No Regret First Bet, and similar) is a popular online sports betting promotion offered to new players in the United States. With it, users can deposit and place their first bet. If the bet loses, they will get the money back in the form of bonus bets.
Top No Sweat Bet Sportsbook Offers
Most US sportsbooks offer this type of deal to new users, so here are our top sports betting platforms that feature the No Sweat First Bet. They’ve been ranked according to bonus value and terms:
- FanDuel — $1,000 No Sweat First Bet
- DraftKings — Bet $5, Get $150 in Bonus Bets
- Caesars — $1,250 Bonus Bet
- BetMGM — $1,500 Paid Back in Bonus Bets
Below, we’ll explain how the No Sweat First Bet promotion works, the steps you need to take to qualify for it, what terms and conditions you need to pay attention to, and which strategies you should utilize to make the most of this promo.
What Is a No Sweat First Bet?
A No Sweat First Bet is FanDuel’s branded welcome offer. The promotion gives players up to $1,000 in bonus bets if the first bet they place on the FanDuel sportsbook misses.
So, let’s say that you’ve deposited $250 into your FanDuel account and placed all of it on a market of your choice. If you win the bet, you get to keep the winnings as usual, but if you lose, FanDuel will reimburse you with all $250.
However, the $250 you get back won’t be withdrawable. Instead, you will get the money in the form of bonus bet credits, and you must wager the sum at least once. Also, if you win with the bonus bet, you’ll only get to keep the profit (but not the stake). For example, when you place your $250 bonus bet on the odds of +200 and win, your payout should be $750; however, since the stake is subtracted, you’ll only win $500.
The FanDuel sportsbook has branded it the No Sweat First Bet, but this type of promotion has many other names, too. TwinSpires calls it the Protected First Bet, while many others simply refer to it as first bet insurance or a second-chance bet.
A lot of US online sportsbooks used to call this type of offer a ‘’bonus bet bet’’, but since they can no longer use the word “free” to describe their bonuses, they had to get creative and come up with other names.
How Can I Claim This Bet?
To claim the No Sweat First Bet, you must be a new customer at an online sportsbook — of course, you need to make sure that the sportsbook is available in the state where you’re located. Also, you must be at least 21 years old to create an account.
If you meet all these basic criteria, claiming the No Sweat First Bet will be a breeze:
- Use one of the links on this page to go to a sportsbook that offers a No Sweat First Bet.
- Join the sportsbook by filling out a simple registration form with your name, birthday, SSN, and other personal details.
- Complete your first deposit using a credit/debit card, PayPal, ACH bank wire, or any other available method.
- Place your first bet on any eligible betting market.
- If your first bet loses, you will get to claim and use your bonus bets. The bonus bet credits may not be available right away, and it could take up to 72 hours after the bet settlement for them to appear in your bonus balance.
No Sweat First Bet Promo Code
In some cases, you will be required to use a promo code in order to unlock a No Sweat First Bet. Depending on the sportsbook’s rules, the promo code usually needs to be entered during the registration process, while making a deposit, or when laying down your first bet. If a sportsbook requires a promo code, you will find it on our website.
No Sweat First Bet Terms & Conditions
Just like any other sports betting offer, the No Sweat First Bet comes with a list of rules each user must be aware of in order to use the promo correctly.
Eligibility
Since this is usually a welcome offer, it’s exclusive to new customers. If you already have an account with a sportsbook offering a No Sweat First Bet, you won’t be able to claim it. Also, this offer can be used only once.
The minimum age for creating an account at a US online sportsbook is 21, and you must be physically present in a state where the given sportsbook is licensed to operate.
Minimum Deposit and Qualifying Wager
To get this type of welcome offer, you must place a minimum deposit and lay down a qualifying wager. The minimum deposit limit is usually $10; however, keep in mind that if you deposit and bet just $10, your bonus bet will also be limited to this amount.
As for the qualifying wager, there will usually be no restrictions in terms of betting markets and minimum odds — but you should check, just in case. If your first bet is a parlay, only the first selection will count as your qualifying bet (this is the rule at FanDuel; still, others might have different terms regarding these types of bets). You may be allowed to cash out your qualifying wager, but in that case, you won’t get a bonus bet.
Bonus Bets
The bonus bets resulting from a No Sweat First Bet may be used on all sports and markets unless specified otherwise in the T&C. If you win, the bonus bet portion will become void, and you’ll only get to keep the profit.
Every offer of this kind will have a cap on the bonus bet sum. At FanDuel, the maximum bonus bet you can win is $1,000, but Caesars offers bonus bet credits worth up to $1,250. Depending on the offer, the bonus bets may come as a single lump sum or several fixed bonus bets.
You can typically activate this option via the toggle switch button within the sportsbook’s bet slip.
Time Limit
Sportsbooks will usually put a time limit on your bonus bets. For example, bet credits resulting from FanDuel’s No Sweat First Bet must be used within 7 days after being credited to your account; otherwise, the unused portion of the bonus will become void.
In addition, there is no guarantee that this promotion will last forever. The sportsbook should clearly state the promo period and assign a date and time at which it will end. After the said date, it may be extended or replaced by a similar promotion.
Wagering Requirements
Unlike many sports betting bonuses, the No Sweat First Bet rarely comes with multifold wagering requirements. Of course, the bonus bet is not available for immediate withdrawal, so you must wager it at least once before transferring the profit to your withdrawable balance.
Where Can I Place a No Sweat First Bet?
You can find a No Sweat First Bet at the FanDuel sportsbook, but many promos of the same kind exist on other US betting sites, only under different names. While these promotions may be similar in structure, each has its own rules. Don’t forget to review them before joining and claiming the offer.
Do All US Sportsbooks Offer a No Sweat First Bet?
While the No Sweat First Bet is the most popular new customer promotion at online sportsbooks in the US, it’s not the only type of welcome deal you can run into.
For instance, the welcome offer at DraftKings gives each new customer $150 in bonus bets once their first bet of at least $5 is settled. Unlike the typical second-chance bet, this one doesn’t require the user to lose the first bet. Instead, you will get your bonus bets regardless of whether your initial wager hits or misses.
No Sweat First Bet Strategy
No Sweat First Bet is an excellent way to start your sports betting journey. It’s a win-win scenario: if you win the initial bet, it’s business as usual, but if you lose, you get your money back so that you can try again. Since most sportsbooks don’t impose significant market or odds restrictions, you may use your No Sweat First Bet to place riskier wagers, knowing that even if you lose, you will get a second shot.
Feel free to try the No Sweat First Bet on FanDuel sportsbook or any other betting platform with similar No Sweat First Bet offers from our top list by following our exclusive links and promo codes!
FAQs
What is a No Sweat First Bet?
A No Sweat First Bet is a type of promotion that may result in bonus bet credits given to new users of an online sportsbook. You need to deposit and place a bet, and if that bet misses, the sportsbook will provide you with bet credits in the same amount. The No Sweat First Bet is a specific promotion branded by FanDuel, but other deals of a similar structure exist at other US betting sites.
How do I place a No Sweat First Bet?
You start by creating an account, depositing, and placing a qualifying wager. If that first bet loses, you will get your money back as bonus bets. The bonus bets may not appear immediately, as some sportsbooks take up to 72 hours to credit them to your bonus balance.
Once they are accessible, you can activate them by hitting the bonus bet toggle button in the bet slip area, although some sportsbooks may have other procedures for triggering the bonus bet.
Where can I claim the No Sweat First Bet?
This type of promotion is available in a wide range of top-level US sportsbooks, like FanDuel. To see other similar offers and discover which one suits you best, check out our top list and short reviews.
