The FanDuel Sportsbook bonus offers all new customers a chance to place their first bet risk-free. All new users who place their first wager and lose automatically receive a full refund in the form of site credit worth up to $1,000.

The FanDuel bonus looks like many others at first glance, but a closer look reveals it is a clear step above average. As the industry’s market share leader, FanDuel suffers no shortage of resources to invest in bonuses and promotions – and nowhere is that clearer than in its welcome offer.

FanDuel entered the US sports betting market with widespread brand recognition due to its prior daily fantasy operations, but that is not the only thing FanDuel has done well.

Effective marketing campaigns, a customer-friendly deposit bonus, and frequent promotions have contributed to FanDuel cementing its position as the industry leader.

FanDuel Sportsbook Promo Code: $1,000 Risk-Free Bet

  • Promo code: None needed
  • Eligible States: AZ, CO, IA, IN, IL, MI, NJ, PA, TN, VA, WV
  • Bonus amount: Up to $1,000
  • Rollover requirement: 1x on site credit

FanDuel Sportsbook offers a risk-free first bet to new customers who sign up and place their first wager. If it loses, FanDuel will refund it with up to $1,000 in site credit.

Many sportsbooks offer similar welcome bonuses, but FanDuel’s offer is better than most. Typically, “risk-free” first bet offers are not as risk-free as one would expect. In most cases, bettors must incur some amount of risk to maximize the promotion’s value.

However, FanDuel Sportsbook provides the rare exception due to its carefully crafted welcome offer. The basic idea of placing a bet and getting a refund is par for the course, but the FanDuel bonus differs from most in two respects.

First, FanDuel issues the refund as site credit rather than as a free bet customers must “risk” all in one shot. New customers can use the site credit however they wish.

Second, when FanDuel customers use the refunds to place wagers, they receive back their winnings and initial stake if they win. That’s in contrast to most sportsbooks that only return net winnings to customers who place successful wagers with their free bets.

As a result, the FanDuel Sportsbook bonus is one of the best of its kind.

FanDuel Sportsbook Bonus Pros

1. Site credit is better than free bets

The FanDuel bonus issues site credit to new customers rather than free bets, which is a big plus.

Free bet offers typically force customers to use their refunds all at once. Putting all of one’s eggs in any basket is a risky proposition that may make some bettors uncomfortable.

With site credit, bettors have complete freedom to use it how they like. If they want to wager $5 at a time, they can. Or if they prefer to stack a few $20 parlays and then take a $100 shot on an appealing odds boost, that’s an option too. In terms of flexibility, the sky’s the limit.

On top of that, the main advantage of site credits over free bets is that bettors receive their original stake back on winning wagers. With free bets, users typically only receive the winnings.

For example, imagine betting $200 on a -200 favorite, winning, and only seeing $100 added to your account. At most online sportsbooks, that’s exactly how it works.

However, someone who makes the same $200 bet using FanDuel Sportsbook credits would end up with $300 in their account if the wager wins.

At other sportsbooks, bettors can get the most out of free bets by backing underdogs because the winnings offset the loss of the initial stake. Usually, the most profitable free bet strategy is to take big risks. However, the best approach at FanDuel is to simply make intelligent bets, regardless of whether they’re on favorites or underdogs.

And to top it off, FanDuel customers only have to roll over their site credit 1x to convert it to withdrawable cash.

2. Big rewards

The average sportsbook caps its signup bonus at $500. FanDuel Sportsbook offers doubles that amount.

Additionally, customers who live in states where FanDuel Casino is available* also receive up to $1,000 in refunds on any gambling losses they incur during their first 24 hours. And just like the sportsbook bonus, the FanDuel Casino bonus is issued as site credit.

In summary, FanDuel issues a total of $2,000 in value to new customers – a nearly unprecedented amount in the US online gambling market.

*FanDuel Casino is available in NJ, MI, PA, and WV

3. Minimal fine print

FanDuel Sportsbook doesn’t bog down its signup bonus with lengthy terms and confusing restrictions.

The main caveats are that the refund offer only applies to each customer’s first real-money wager, and they must use site credit within 14 days of receipt.

Two weeks should be enough time for most bettors, but FanDuel also supports partial bonus clearance for bettors who fail to wager all their site credit within 14 days.

For example, if a user receives a $1,000 refund and only places $500 worth of bets within the 14-day eligibility period, any winnings from those bets are still withdrawable.

FanDuel Sportsbook Bonus Cons

The most significant negative point of FanDuel’s welcome offer is one that applies to all risk-free bet promotions: if your first bet wins, you receive nothing above and beyond the winnings from that wager. It’s as if the promotion never existed.

As such, risk-free betting encourages bettors to adjust their strategy. Ideally, bettors want to maximize their chance of winning a free bet without sacrificing expected value, and the way to do that is to put their risk-free bets on intelligent long shots.

Consider this: If you wager on a standard -110 line, you have a 50% chance of winning and a 50% chance of losing (but winning a free bet). Compare that to betting on a +300 dog, where you only have a 25% chance of winning and a 75% chance of receiving a free bet.

Assuming the expected value for both wagers is roughly the same (and it typically is), you’re far better off taking a shot on an underdog. If it hits, you won’t get to enjoy a refund, but you will have locked in a nice profit. That’s not to mention that by betting on underdogs, you’ll probably be on FanDuel’s radar as an action player – which might even lead to better promotional offers down the road.

Ranking FanDuel’s Welcome Bonus Offer

The FanDuel risk-free bet offer is the best of its kind, hands down. Other sportsbooks may entice new users with larger monetary rewards, but most only issue refunds in the form of free bets. Of the few that do award site credit, they tend to cap their refunds as a few hundred dollars at most.

FanDuel strikes the right balance by offering a hefty welcome bonus with terms that are advantageous to customers. In short, FanDuel’s welcome bonus should be on the to-do list of any serious bettor.

Other FanDuel Promotions

FanDuel’s promotional lineup varies throughout the season, often reflecting the main in-season sports.

Below are two examples of recent FanDuel promotions:

  • Multi-Sport Parlay Insurance: Place a 4+ leg parlay on any combination of sports, and if you hit every leg except one, FanDuel will give you back up to $25 in site credit
  • Daily Odds Boost: FanDuel selects a handful of wagers to give them an enhanced payout for that day. For example, FanDuel might boost the odds on one bet from +300 to +400, another wager from +500 to +600, and yet another from +125 to +150