The second chance bonus bets are generally three types of welcome promo offers that an online sportsbook will dangle in order to convince new customers to sign up and give the site a try. Popular deals: BetRivers ($500 Second Chance Bet), BetMGM ($1,500 Back in Bonus Bets), Unibet (Up to $100 Second Chance Bet).
The most common of these offers is a matching first deposit bonus. The sports betting site will provide a match to a player’s initial deposit to their new account. There will always be a set percentage that will be matched, as well as a maximum amount.
No-deposit bonuses are just that – a small sum of cash, usually between $20-$25, that you’ll receive simply for opening a new account.
A third popular welcome bonus offer is called a second chance bet. The sportsbook establishes a maximum amount. If you make a first bet from a new account up to and including that amount and it fails to cash as a winner, you’ll be refunded the entire amount by the online sportsbook in the form of site credit.
Let’s take a deeper dive into how a second chance bet works for you and which online sports betting sites offer the best second chance bets.
How Second Chance Bets Work
The name basically explains the function of a second chance bet. You make a first bet from your new online sportsbook account. If it fails to win, the betting site will return the funds to your account in the form of site credit, generally in bonus bets.
Second Chance Bet Terms And Conditions
Every second chance bet will have unique terms and conditions. It’s best to get to know the details before signing up at any sportsbook site.
Regular terms and conditions you can expect to find with a second chance bet are a minimum first deposit and a time limit to activate the offer. Some sites will allow you to make several smaller bets with the returned bonus bets. Others will require you to wager the bonus bet all at once.
In almost all cases, you don’t get to keep the bonus bet funds. Only profits won from the bonus bets will be returned to your online sportsbook account.
Bet365 First Bet Safety Net
There are two welcome bonus options at the Bet365 Sportsbook. One of them is the First Bet Safety Net. Accept this welcome offer and you can make a first bet up to $1,000, full in the knowledge that if this wager isn’t a winner, you’ll get a second chance. The funds will be returned to your account in the form of bonus bets.
To activate this offer, you must make a first deposit of a minimum of $10 into your new Bet365 NJ account. You’ll need to claim this offer within 30 days of opening your new Bet365 account with this code. The First Bet Safety Net will apply to your first straight bet, parlay, same game parlay or same game parlay+. The bonus bets are non-withdrawable and the bonus bets wager is excluded from any returns on a winning bet.
BetRivers Second Chance Bonus Bet
At BetRivers Sportsbook, the site’s version of a welcome bonus offer is a second chance bet. It’s worth up to $500 at every BetRivers Sportsbook, except for New Jersey and Colorado. In those states, the Bet Rivers Second Chance bet maxes out at $250.
To access this offer, first you must make an initial deposit of $10 to your new BetRivers account using this code. Next, make a wager up to the maximum allowable limit for the promotion. If that bet fails to cash, you will receive the equal amount in your account in the form of a single bonus bet within 24 hours. When wagering the bonus bet, only the profit will be paid out on a winning wager. The stake isn’t returnable.
