- Bet365 - $1,000 First Bet Safety Net
- Caesars Sportsbook - $1,000 First Bet on Caesar
- FanDuel Sportsbook - $1,000 No Sweat First Bet
- BetRivers - $500 Second Chance Bet
- Betfred Sports - $105 on Fred
- Betway - $250 First Bet Reset
Second Chance Bets
See the biggest and best second chance bets in the US, and get a better understanding about what they are, where to get them, and how to make the most out of this popular betting offer!
'Risk Free' Bets are a thing of the past
Well, at least the term 'risk free' is not allowed anymore, instead betting sites are calling these offers second chance bets, no sweat bets, or even bet insurance. But in reality they still work the same way, and we've opted to use the term 'second chance' in our explanations, since it's the most accurate description of how this type of bonus works.
Bookmaker | Welcome Bonus | Turnover | Min Deposit | Action | |||||
---|---|---|---|---|---|---|---|---|---|
#1 |
$1,000 First Bet on Caesars |
Turnover
1x |
Min Deposit
10 $ |
T&C applied
21+ only. New customers in AZ/CO/IL/IN/IA/KS/LA/MA/MD/MI/ NJ/NY/OH/PA/TN/VA/WV/WY only. Deposit required (min $10). Must place first real money Qualifying Wager (min $10) within 30 days. Qualifying wager must settle within 30 days of being placed. Qualifying wager returned as non-withdrawable bonus bets only if wager is settled as a loss. Maximum Bonus Bet $1,000. Bonus Bet expires 14 days after receipt. Full T’s and C’s apply, visit Caesars Sportsbook for more details. | |||||
#2 |
Bet $5 Get $150 in Bonus Bets |
Turnover
1x |
Min Deposit
10 $ |
T&C applied
Place a $5 Moneyline Wager and get $150 in Bonus Bets 21+. New customers only. Offer available in AZ/CO/CT/IA/IL/IN/KS/KY/LA/MA/MD/MI/NJ/NY/OH/PA/TN/VA/WV/WY. Minimum $10 first deposit required. Promotion bonus will be credited to your account within 72 hours settlement of Qualifying Wager as a win. First online real money wager only (minimum $5). Bonus issued as non-withdrawable bonus bets that expires in 14 days.See full T&C at FanDuel. | |||||
#3 |
20% Deposit Bonus up to $1000 |
Turnover
25x |
Min Deposit
5 $ |
T&C applied
21+. New customers only. AZ/CO/CT/IL/IN/IA/KS/LA/MD/MI/NJ/NY/OH/PA/TN/VA/WV/WY only. Minimum $5 deposit. Bonus amount is equal to 20% of the deposit amount, not to exceed $1,000. Bonus funds will be awarded following play-through requirement of 25x the bonus amount: eg every $25 played on DFS/Sportsbook/Casino will release $1 in bonus funds. Play-through requirement must be met 90 days from the first deposit to receive maximum bonus. Full T's & C's apply, visit DraftKings Sportsbook for details. | |||||
#4 |
Bet $5, Get $200 or $1,000 First Bet Safety Net |
Turnover
1x |
Min Deposit
10 $ |
T&C applied
Get $200 in Bonus Bets After Your First Real Money $5 Wager or Up to $1,000 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. Limit one bonus per user. Offer available in AZ/CO/IA/IN/KY/LA/NJ/NC/OH/VA. Different offer available in PA. First online real money wager for both offers. $10 first deposit required within 30 days. Minimum wager of $5 required to claim the $200 Bonus Bets. Must contain at least one selection at odds of -500 or greater. Loss refunded as bonus bets up to $1,000 with Safety Net Offer. Bonus issued as non withdrawable bonus bets that expire in 7 days. See full T&C at Bet365. #ad | |||||
#5 |
2nd Chance Bet up to $500 |
Turnover
1x |
Min Deposit
10 $ |
T&C applied
Up to $500 Back in Bonus Bets if Your First Wager Loses 21+. New customers only. Offer amount varies by state. Up to $500 bonus in IL/IN/MD/LA/MI/PA/VA. Up to $250 bonus in CO/NJ Up to $100 bonus in AZ/IA/NY/OH/WV Must make a qualifying deposit of $10+ with promo code SPORTS. Must make qualifying cash wager with odds of -200 or greater. If the first qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $500. See full T&C at BetRivers. | |||||
#6 |
Bet $5 & Get $100 in Bonus Bets |
Turnover
1x |
Min Deposit
5 $ |
T&C applied
Bet $5 & Get $100 in Bonus Bets 21+. AZ/NJ/TN/VA only. Different offer(s) available in FL/IA/IN/OH. New customers only. Must make a deposit and qualifying wager of $5+. Qualifying bet must have odds -250 or longer (i.e., +100, -110). Bonus Bets will be split up into 5 $20 Bonus Bets. Bonus Bets will be loaded into accounts on bet placement. Bonus Bets will expire 14 days after issuance. See full T&C at Hard Rock Bet. | |||||
#7 |
$250 First Bet Reset |
Turnover
1x |
Min Deposit
10 $ |
T&C applied
21+. New customers only. AZ/CO/IN/IA/NJ/PA/VA. Must make a qualifying deposit of $10+. Must make qualifying cash wager at odds of -300 or greater. Qualifying Wager must settle within 7 days of opening a new Betway account. The amount of the settled losing bet will be credited back in the form of non-withdrawable bonus bets. Full T's & C's apply, visit Betway for more details. | |||||
#8 |
$250 Bet Match over the first 5 weeks |
Turnover
1x |
Min Deposit
10 $ |
T&C applied
21+. New customers only. CO/IA only. Must deposit and wager $10+ within 30 days to become eligible for the 100% Bet Match up to $50 in non-withdrawable bonus bets for five (5) consecutive weeks (maximum total of $250). Bet Matches will only be applied to the first qualifying wager of each week. Promotional weeks begin on Monday, and wagers must be straight bets (no promotional markets) with odds of -200 or greater. Qualifying wagers must settle within seven (7) days of the bet placement. Full T's & C's apply, visit ClutchBet for more details. | |||||
#9 |
Up to $300 Cash Back with Promo Code BBST |
Turnover
N/A |
Min Deposit
5 $ |
T&C applied
Up to $500 Cash Back over the first 7 days 21+ only. New customers only. NJ/CO only. Deposit required. Earn 3% cash back on each qualifying wager through the first 7 days of betting, up to $500. The promotional period begins after the first wager. Cash back will be awarded within 72 hours at the end of the player's 7 day period as a single sum. See full T&C at Sporttrade. | |||||
#10 |
Bet $20 Get $100 |
Turnover
1x |
Min Deposit
20 $ |
T&C applied
21+. New customers only in NJ. Qualifying deposit (min $20) required. First online real money wager required (min $20, odds -200 or greater). Bonus issued as nonwithdrawable bonus bets that expires in 7 days. Full T's & C's apply, visit Borgata for more details. | |||||
#11 |
$250 Welcome Match Bonus |
Turnover
2x |
Min Deposit
10 $ |
T&C applied
21+. New customers located in AZ only (excludes Indian lands). Minimum $10 deposit. Bonus amount is equal to 100% of the deposit amount, not to exceed $250. Must wager deposit plus bonus amount (“Wagering Requirement”) in order to meet the wagering requirements for this Promotion. Bonus Money expires after 14 days of issuance. Full T's & C's apply, visit Desert Diamond Sportsbook for details. | |||||
#12 |
$500 First Bet Insurance |
Turnover
1x |
Min Deposit
N/A |
T&C applied
Get Your First Bet Refunded 100% up to $500 in Bonus Bets 21+. New customers located in MD only. Minimum $10 deposit. Must make qualifying cash wager with odds of -120 or greater. If the first qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $500. Bonus Bets awarded in $25 increments, rounded down to the nearest multiple. Winnings from bonus bets are capped at 2x the stake. See full T&C at Crab Sports. |
See the Best Second Chance Bets
Second chance bets are only one of the types of betting bonuses offered by online sportsbooks as a welcome package, but are comfortably the most common type of sign up offer on the market.
There are also second chance bet offers and bet insurance for existing players, but the high value bonuses in our lists are all for new players only, and deserve the most attention so you can really understand how to make the most out of signing up for a new betting site.
Best Second Chance Bet Offers
Betting Site | Second Chance Amount | Turnover | Rating |
---|---|---|---|
Bet365 | $1,000 | 1x | ★★★★★ |
Caesars Sportsbook | $1,000 | 1x | ★★★★★ |
FanDuel Sportsbook | $1,000 | 1x | ★★★★★ |
BetRivers | $500 | 1x | ★★★★☆ |
Betfred Sports | $105 | 1x | ★★★☆☆ |
Betway | $250 | 1x | ★★★☆☆ |
For a more detailed breakdown on why we think these are the best Second Chance Bet offers, and where they are currently available in the US, just click on the betting site name for a short rundown.
How We Rank Second Chance Bets
- Value
The first thing you see, and what betting sites really try to focus on since bigger (when we're talking bonuses) is usually better, is the value of the bonus.
However, when it comes to second chance bets, there are quite a few other factors that are important, so we weigh up the value against them in our overall ranking since things like turnover and market limitations can play a big role in how easy it is to get real value from the offers.
- Turnover
In all honesty, this may be the most important factor when thinking about second chance bets, since the turnover refers to how many times you need to wager the bonus bets received after losing your first wager before they can be withdrawn.
In the US turnover is almost always 1x, so any winnings from the bonus bets can be withdrawn, but in the cases that feature 2x, 3x, or even 10x, we really drop them in our ranking because it's incredibly difficult to win enough bets to have any winnings left over to withdraw if you need to bet the amount you've gotten as a bonus multiple times basically without losing.
- Versaility
For most welcome offer this doesn't factor in too much, since the markets available to wager on and the minimum odds are generally pretty open. But some betting sites to limit the way you can bet your initial wager, and the bonus bets you get as the second chance bet if you lose.
The low the odds, and fewer limitations on how you can bet and which sports are eligible the better. And we love to see bonuses that give players the chance to wager several times as part of the welcome offer which helps spread out the risk and give you more chances to win.
- Ease of Maximizing
It's always tough to feel like you're leaving money on the table when claiming a bonus, and second chance bets are notoriously difficult to max out the potential value since they are usually a single bet, and the bonus bets come from actually losing.
It's always great to see a big number, but realistically not many people are going to drop a grand on their first wager with a new betting site, so offers that have slightly smaller amounts, or ideally let you spread the qualifying wager out over several bets or days are excellent, and you can really feel like your taking full advantage of the offer rather than just a small percentage of what you could have.
Top 5 Second Chance Bets
Bet365 Second Chance Bet
Topping our list as the best second chance bet welcome offer in the US, Bet365.
- Value: the total value of $1,000 is nice and high, so players have a ton of flexibility with how much they're willing to lay down on their initial wager, so high rollers and just for fun bettors can all get great value.
- Turnover: 1x is the standard for Bet365 for sports betting, and it's no different here. Once bonus bets hit your account, any winnings can be withdrawn from bets placed with them.
- Versatility: Bet365 actually offers two different welcome bonuses, and while you are locked into the initial wager you place on the site, there is a 90 expiration time so you can really think about your wager and the minimum odds mean just about any possible wager is ok.
- Maxing Out: An underrated aspect, but it feels nice to really get the most value from a welcome bonus. Most players probably are not going to stake $1K on their first bet, so actually 'maxing out' this offer isn't easy, but because it has quite a lot of range players can really max out what they feel comfortable betting.
Overall Rating: ★★★★★
Get $200 in Bonus Bets After Your First Real Money $5 Wager or Up to $1,000 Back in Bonus Bets if Your First Wager Loses
21+. New customers only. Limit one bonus per user.
Offer available in AZ/CO/IA/IN/KY/LA/NJ/NC/OH/VA. Different offer available in PA.
First online real money wager for both offers. $10 first deposit required within 30 days.
Minimum wager of $5 required to claim the $200 Bonus Bets. Must contain at least one selection at odds of -500 or greater.
Loss refunded as bonus bets up to $1,000 with Safety Net Offer.
Bonus issued as non withdrawable bonus bets that expire in 7 days.
See full T&C at Bet365. #ad
Caesars Sportsbook Second Chance Bet
Caesars Sportsbook has always had a big dollar value on their welcome bonus, and this second chance bet is not different, with a possibility of claiming $1,250 in bonus bets if the first wager loses.
- Value: This is the biggest second chance bet right now, and been a long running offer. If you're willing to bet big, you can insure a huge wager with Caesars, but otherwise anything up to this amount will also be covered.
- Turnover: Caesars follows suit with the standard 1x turnover, which is great since any winnings from your bonus bets can be withdrawn right away.
- Versatility: There are fortunately no limitations on odds or markets wi this second chance bonus, but it is limited to your first ever wager on the site so you do need to take that into account. Bonus bets from the offer expire after 14 days, which is longer than many other sportsbooks, so you do have a longer time to figure out how you want to win your money back.
- Maxing Out: This is the major downside of 'high-value' offers, since you need to put up a lot of money to max out the potential benefits of the offer. Plus, maxing out does max out the potential loss if you can't convert the bonus bets into winnings should your first bet lose, so think about your wager carefully.
Overall Rating: ★★★★★
21+ only. New customers in AZ/CO/IL/IN/IA/KS/LA/MA/MD/MI/ NJ/NY/OH/PA/TN/VA/WV/WY only. Deposit required (min $10). Must place first real money Qualifying Wager (min $10) within 30 days. Qualifying wager must settle within 30 days of being placed. Qualifying wager returned as non-withdrawable bonus bets only if wager is settled as a loss. Maximum Bonus Bet $1,000. Bonus Bet expires 14 days after receipt. Full T’s and C’s apply, visit Caesars Sportsbook for more details.
FanDuel Sportsbook No Sweat Bet
FanDuel's No Sweat First Bet is one of the better second chance bets out there. While the amount changes sometimes around major events, the most common offer is $1,000 back as bonus bets.
- Value: It's impossible to question the high value FanDuel offers new users, and it is one of the highest dollar values that gets covered.
- Turnover: The 1x turnover is here again, so all winnings can be withdrawn if you end up losing your wager and betting with refunded bonus bets.
- Versatility: Like other top end betting sites, FanDuel opens up the whole sportsbook for the first wager, and doesn't have minimum odds so you can play it pretty safe.
- Maxing Out: With such a high value, maxing out the bonus on FanDuel is tough since you would need to stake the entire 1K. This is fine if you're a high roller, but the inability to have the bonus spread out or split into smaller chunks means most people will likely only have a small portion of the total possible value covered.
Overall Rating: ★★★★☆
Place a $5 Moneyline Wager and get $150 in Bonus Bets
21+. New customers only. Offer available in
AZ/CO/CT/IA/IL/IN/KS/KY/LA/MA/MD/MI/NJ/NY/OH/PA/TN/VA/WV/WY. Minimum $10 first deposit required. Promotion bonus will be credited to your account within 72 hours settlement of Qualifying Wager as a win. First online real money wager only (minimum $5). Bonus issued as non-withdrawable bonus bets that expires in 14 days.See full T&C at FanDuel.
BetRivers Second Chance Bet
BetRivers may not have the jaw-dropping number on their second chance bet offer, but honestly $500 in bonus bets is still a hefty chunk, and they excel at other promotions too.
- Value: While it may be one of the smaller values on this list, a $500 second chance bet is still fairly large, and for the vast majority of people will certainly cover how much they want to place for the first wager on a new sportsbook.
- Turnover: BetRivers follows the 1x turnover trend, with all bonus bet winnings eligible for withdrawal.
- Versatility: Aside from the slightly lower value, BetRivers does impose a -200 odds minimum, which limits some potential wagers. While there are no restrictions on sports or markets, if you like placing exceptionally safe bets you might not be able to quite as easily here, but most wagers will still be within the limits.
- Maxing Out: Smaller top end amount, and minimum odds that force you into a higher potential payout can help with maxing out the bet, but $500 is still a lot, and it is linked to a single bet which can be frustrating if you like spreading out your risk even if you're willing to wager that much in total.
Overall Rating: ★★★★☆ (3.5 really...)
Up to $500 Back in Bonus Bets if Your First Wager Loses
21+. New customers only. Offer amount varies by state.
Up to $500 bonus in IL/IN/MD/LA/MI/PA/VA.
Up to $250 bonus in CO/NJ
Up to $100 bonus in AZ/IA/NY/OH/WV
Must make a qualifying deposit of $10+ with promo code SPORTS. Must make qualifying cash wager with odds of -200 or greater. If the first qualifying wager settles as a loss, receive a non-withdrawable Bonus Bet equal to your stake, up to a maximum of $500.
See full T&C at BetRivers.
Betfred Sports Second Chance Bets
We've dropped Betfred down to #5 since the Betfred welcome bonus isn't strictly a second chance bet offer, but a portion of the welcome offer refund losses as 'Fred Bets' you can wager again on the sportsbook.
The way Betfred's bonus works is that for the first five weeks, 50% of net losses will be refunded as Fred Bets (bonus bets) up to $200, for a total possible amount of $1,000 over the five weeks.
- Value: Five weeks with the chance to get back $200 as Fred Bets is pretty great, especially when you factor on the $111 just by wagering $50 after signing up. Together this is one of the highest potential value bonuses in the US.
- Turnover: Fred Bets have a 1x turnover, which means all winnings can be withdrawn, so nothing unusual on this two stage offer.
- Versatility: The second chance bet part of this bonus (50% refund) is incredibly versatile, since you don't really have any limitations as long as you don't wager with any extra boosts or bonuses from the sportsbook. Fred Bets can be broken down into smaller chunks as well, which helps if you live diversifying your betting portfolio.
- Maxing Out: $200 a week is a lot more manageable than a one of wager of $1,000 - but the key thing to remember is that only 50% of net losses will become second chance bets, so you would need to wager (and lose) $400 a week to max out this bonus, which is actually a lot of money, and would put it as one of the toughest bonuses on this list to maximise fully.
Overall Rating: ★★★☆☆
Get $105 refunded as Fred Bets if your first wager loses
21+. New customers only.
Offer available in AZ/CO/IA/MD/OH/VA. No Bonus in PA.
Minimum qualifying wager of $20+. Minimum odd of -200. Qualifying wager must settle as a loss to be eligible to claim Fred Bets. Maximum bonus awarded is $105, and Fred Bets must be wagered within 7 days of receiving.
See full T&C at Betfred.
Betway Second Chance Bet
An honorable mention at #6 of our top five list, Betway has a solid second chance bet. And even though the dollar value may seem low, we think it's easy to max out which is a nice aspect for players not willing to drop a grand on their first wager with a new sportsbook.
Like traditional second chance bets, you'll get bonus bets refunded if your first wager loses, up to $250.
- Value: $250 is on the lower end, but given second chance bets are based on a single wager, its actually a pretty good chunk.
- Turnover: Betway has a 1x turnover for this welcome bonus, so all winnings from your bonus bets are yours to keep.
- Versatility: The minimum odds on this second chance bet welcome bonus are -300, and you only need to wager $10 to become eligible. Overall there are a ton of available markets, so its a very versatile offer for big spenders and casual players who want to bet safe.
- Maxing Out: Betway has one of the easier offers to max out, since the value is only $250. But this is still a hefty amount for a single wager, so you can max out and get good value if your bet wins, which puts this bonus up a little in our books.
Overall Rating: ★★★☆☆
21+. New customers only. AZ/CO/IN/IA/NJ/PA/VA. Must make a qualifying deposit of $10+. Must make qualifying cash wager at odds of -300 or greater. Qualifying Wager must settle within 7 days of opening a new Betway account. The amount of the settled losing bet will be credited back in the form of non-withdrawable bonus bets. Full T's & C's apply, visit Betway for more details.
What is a Second Chance Bet
Second Chance Bet bonuses are basically a form of insurance for your first wager with a sportsbook, since the amount you lose will be refunded as bonus bets you can wager again on the site, giving you a second chance to try and win (or at least win back your money).
They used to be called 'risk-free bets' but since you have to stake your own cash and lose, there is still a substantial risk involved given bonus bets only pay out the winnings, and even thats not a guarantee to make back your initial wager.
Example of a Second Chance Bet
Betting Site X is offering new users a second chance bet up to $100 on their first wager - there are three possible outcomes for this wager and subsequent bonus bets.
1. Player wagers $100 on the NY Jets to beat the Patriots at +100 odds and they win. The player get back his bet stake and winnings for a total of $200.
2. Player wagers $100 on the NY Jets to beat the Patriots at +100 odds and they lose. Betting site X refund the loss with $100 in bonus bets.
- The player then wagers the $100 bonus bet on the 49ers to beat the Chargers at odds of -110. They do and the player wins $90 (bet stake is not included in the bonus bet payout).
3. Player wagers $100 on the NY Jets to beat the Patriots at +100 odds and they lose. Betting site X refund the loss with $100 in bonus bets.
- The player then wagers the $100 bonus bet on the 49ers to beat the Chargers at odds of -110. They do not, and the player loses the $100 in bonus bets.
The best outcome of any second chance bet is to actually win your wager, which seems a bit anti climactic since you don't actually see a tangible bonus if you do. But you do see your winnings and bet stake, so you actually get a lot more money, which is why we like to think of second chance bet bonuses as insurance rather than going into the wager wanting to get any bonus bets.
How to Claim a Second Chance Bet
The next thing you need to do is register a new account. This is usually very quick, with you supplying some details like:
- Name
- Date of Birth
- Address
- SSN
Once you've done this, you'll be ready to deposit some funds and start betting!
This is the most important step, since it determines the value of your second chance bet should you lose. If you win thats even better since you get the winnings and bet stake back.
To make sure you don't place an ineligible bet, check the terms for:
- Minimum odds
- Minimum bet stake
- Eligible markets
- Type of wager
If you've hit this step then your first wager lost, which is a shame. But not all is lost as the bonus will kick in a refund the amount you lost as bonus bets!
Depending on how high the bonus limit is, you could potentially be getting a huge amount of bonus bets added to your account, ready to be wagered again.
Once the bonus bets land i your account, make sure to check any terms like expiry, minimum odds, etc. so you know what you can bet them on.
The best types of second chance bet bonuses let you actually split the amount you get refunded into smaller chunks, giving you a lot more flexibility when wagering.
Either way, now you can bet these credits and try to win back you lost cash, since all winnings are your to keep!
Tips for Using a Second Chance Bet
Whether your new or an experienced bettor, understanding how to really get the most out of your second chance bet is always a good thing. We've broken down a few tips below to get you started, but the main thing to remember is these are NOT 'risk-free' bets, and should not be thought of like that. All second chance bets do is give you a chance to win back your money.
- Think about the implied odds
If you're new to sports betting you may not even know what implied odds are, so here is a very quick rundown:
- Implies odds are based on the sportsbook's calculation of win probability
- True odds are are what you, the bettor, give to the probability of an outcome
The basic principle is that if the true odds are higher than the implied odds, it's a good bet. But again, trues odds are never exact and can be based on complex models or just a finger in the air - so this doesn't mean it's a guaranteed win.
The reason we bring this up here is because a second chance bet bonus effectively gives you two chances to win, however the second chance comes with a major caveat of only paying out the winnings. When you take this into account you might want to consider your bet as a two part wager, which means your first wager could be with longer odds aimed at a big payout, with the second working to recouping the loss.
however, you could go for the 'safe' option. If you take odds with the implied probability of 50% (which would be +100), and base this wager that the second chance part of the bet will be at the same odds, you are statistically winning one of the bets, which means your initial loss will be covered if you lose, or you will get a nice payout with a successful first bet.
- Remember the turnover
Because all bonus bets have a turnover requirement (usually 1x) it's incredibly important to remember that only your winnings will be eligible to be withdrawn. What this means is the wager you place with your bonus bets will need to be a slightly higher odds otherwise you won't full recoup your loss.
A wager with bonus bets (of an equal value to your first wager) would need to be bet at +100 odds to get a payout that equaled your loss. As you can see it's not that easy to win back the loss, so your first bet is really the most important, and it's not a bad idea to play it safe, unless you plan on getting quite a few second chance bets in which case you can consider the implies odds and go for longer odds expecting at least one to win.
- Consider bonus bets as a way to win back your loss
This is really up to you, and how risk averse you are, but a second chance bet can be though of in a few different ways: a chance to win back you money, or a chance to bet big twice and hope for a huge payout.
If you're a gambler, you could go for longer odds hoping that over the two wager you win, or play it a little safer and just try and win back your loss with the most favorable odds.
Where You Can Get Second Chance Bets
The good news is there is no state by state limitation on second chance bets (apart from which states allow online sports betting of course), so any state a betting site is active in will allow you to claim a second chance bet.
Our list below shows all the current bonuses on offer in the US, with each eligible state so you know if you can claim the offer.
- Where You Can Claim Second Chance Bet Offers
PointsBet - 5x Second Chance Bet up to $50 Each
- CO/IL/IN/IA/KS/MI/NJ/NY/PA/VA/WV
DraftKings Sportsbook - Bet $5 Get $150 in Bonus Bets
- AZ/CO/CT/IL/IN/IA/KS/LA/MI/NH/NJ/ NY/OH/OR/PA/TN/VA/WV/WY
Caesars Sportsbook - First Bet on Caesar up to $1,250
- AZ/CO/IL/IN/IA/KS/LA/MI/NJ/NY/OH/ PA/TN/VA/WV/WY
FanDuel Sportsbook - $1,000 No Sweat First Bet
- AZ/CO/CT/IL/IN/IA/KS/LA/MI/NH/NJ/ NY/OH/PA/TN/VA/WV/WY
BetRivers - $500 Second Chance Bet
- AZ/CO/IL/IN/IA/LA/MI/NJ/NY/OH/PA/ VA/WV
BetMGM - $1,000 Paid Back as Bonus Bets
- AZ/CO/IL/IN/IA/LA/MI/NJ/OH/PA/ TN/VA/WV/WY
Bet365 - Bet $1 Get $200 in Bonus Bets
- CO/NJ/OH/VA
Unibet - $500 Second Chance Bet ($250 in AZ, IN. Bet $25 get $100 in NJ)
- PA/VA
WynnBET - Bet $100 Get $100 (Bet $100 Get $5 in NY)
- AZ/CO/IN/LA/MI/NJ/TN/VA
SI Sportsbook - Bet $10 Get $50
- CO/MI/VA
ClutchBet - $1,000 Bet Match over 5 Weeks
- CO/IA
Borgata - Bet $20 Get $100
- NJ/PA
Betway - $250 First Bet Reset
- AZ/CO/IN/IA/NJ/PA/VA
Betfred Sports - Bet $50, Get up to $1,111 in Fred Bets
- AZ/CO/IA/PA/OH
Desert Diamond Sportsbook - $250 Bet Match
- AZ
Hard Rock Sportsbook - $200 No Regret First Bet
- AZ/IN/IA/NJ/TN/VA
SuperBook Sportsbook - $250 Bet Match
- AZ/CO/NJ/TN/VA
Barstool Sportsbook - up to $1,000 Back in Bonus Bets
- AZ/CO/IL/IA/KS/LA/MI/NJ/OH/PA/TN/ VA/WV
PlayUp - Bet $100 Get $100 in Bonus Bets
- CO/NJ
FOX Bet - $50 First Bet on FOX
- CO/MI/NJ/PA
Tipico - 100% Deposit Match up to $250
- CO/IA/NJ
Betr - $50 Sign up Bonus
- OH
PlaySugarHouse - $100 Second Chance Bet
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Second Chance Bet Promos
Existing user promotions are always nice, especially with second chance bets since losing a bet sucks no matter when it happens. So we love to see betting sites that offer second chance bets, bet insurance, or parlay insurance on wagers besides just the welcome offer bet.
While there is usually a big difference in potential value, having the chance to get back a decent chunk of bonus bets for more typical wagers or from a risky parlay is still great, and can really add up over time.
Bet insurance on parlays is a common promo on PointsBet
There are a few different types of second chance bets you'll be able to get as an existing user, but generally they are linked more specifically to certain events or types of bets.
Parlay Insurance
Arguably the most common second chance bet for existing users, parlay insurance refunds players with bonus bets if a single leg of their parlay loses. There will be minimum numbers of legs, minimum odds, or sometimes it must be a same game parlay to qualify, but given the risky nature of parlays this is a great promo to find.
Bet Insurance
Similar to parlay insurance, bet insurance works almost exactly the same but has a little more versatility as it isn't tied to a parlay wager.
Are Second Chance Bets Worth It?
That's the real question. In general we would say yes, they are absolutely worth it since getting bonus bets back after a loss is obviously better than nothing. But it's important to remember than bonus bets are not real money, so there is still a chance the offer will end up in a loss.
The good news is there are a ton of insane second chance bet welcome bonuses in the US right now, so there is no better time to test out a new betting site with a bit of security on your first wager. If you missed anything important, or just want another look at the best second chance bet bonuses click the links to jump back up the page:
Second Chance Bet FAQ
A second chance bet is a bonus offered by betting sites that refunds you initial wager as bonus bets if you lose. You can think of it more as insurance for your bet, since a win won't give you any bonus bets, but you get all the payout.
If you lose, not all is lost since you can re wager your bonus bets to try and win back your cash.
The notable lack of 'risk-free' terminology is a result of regulatory changes which have highlighted the misleading nature of the phrase, as all wagers come with a level of risk, and since players are not refunded in cash, there is a chance to lose the money completely.
We've showcased our list of the best second chance bets up above, with a little breakdown of why we think they're so good, but for a quick recap these are the best second chance bonuses in the US right now:
- Bet365 - $1,000 First Bet Safety Net
- Caesars Sportsbook - $1,000 First Bet on Caesar
- FanDuel Sportsbook - $1,000 No Sweat First Bet
- BetRivers - $500 Second Chance Bet
- BetMGM - $1,000 Paid Back as Bonus Bets
Second chance bets are the offer, whereas bonus bets are the betting site currency you can use as a cash replacement, and are almost always what your awarded for a betting promotion.
That depends on the offer, most sportsbooks will require a single large bet, but some of the more versatile offers either break up the qualifying wager or allow you to split the bonus bets into smaller amounts to wager on several events.
No, there are plenty of second chance style bonuses even after signing up, though they will be lower value and usually linked to specific events or types of betting.
- Parlay Insurance
- Bet Insurance