How to use a no sweat bet, step by step

In short: A no sweat bet refunds your stake as a bonus bet if it loses. Bet it at the promo book, hedge part of the other side at another book, and size the hedge so both results come out even once the refund is converted.

Step by step

  1. 1

    Read the offer's terms

    Note the maximum refund, minimum odds, eligible markets and when the refund bonus expires.

  2. 2

    Choose a plus-money side at the promo book

    Something around +150 to +300 works well, within the offer's rules.

  3. 3

    Estimate the refund's cash value

    A refunded bonus bet is not cash. Assume you will convert it at about 70% (see the bonus bet guide).

  4. 4

    Size the hedge

    Make both results pay the same: the promo bet's winnings minus the hedge must equal the hedge's winnings minus your stake plus the refund's cash value.

  5. 5

    Place both bets, then convert the refund

    If the promo bet loses, convert the bonus bet it refunds as soon as you can.

Worked example: a $100 no sweat bet

Promo bet: $100 on Team X at +150 (decimal 2.50).

Hedge: Team Y at -160 (decimal 1.625) at another book.

Assume the $100 refund converts at 70%, worth $70.

Hedge stake: (150 + 100 − 70) ÷ 1.625 = $110.77.

If Team X wins: +$150 − $110.77 = +$39.23.

If Team Y wins: +$69.23 on the hedge − $100 + $70 = +$39.23.

The $39.23 depends on actually converting the refund at 70%. Convert it at less and the Team Y result is lower.

What does no sweat bet mean?

A no sweat bet — also called a second-chance bet or a safety net — is an offer that returns your stake as a bonus bet if the bet loses. The name varies by book; the mechanics are the same.

At DraftKings, FanDuel or any other book, the details that change the value are in the terms: the maximum refund, minimum odds, and whether the refund is a bonus bet or cash.

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Frequently asked questions

What does no sweat bet mean?

An offer that refunds your stake as a bonus bet if the bet loses. Books also call it a second-chance bet or a safety net.

How do you calculate a no sweat bet hedge?

Estimate the refund's cash value, then solve for the hedge that makes both results equal: hedge = (promo winnings + stake − refund value) ÷ the hedge's decimal odds.

How does a no sweat bet work on DraftKings?

The same as at any book: if the qualifying bet loses, the stake comes back as a bonus bet. Check the offer in the app for the maximum, minimum odds and expiry.

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