Barstool Sportsbook Promo Code ACTNEWS1000 Nets $1,000 Risk-Free Bet

Barstool Sportsbook promo codeACTNEWS1000 gets new users a $1,000 risk-free bet that can be used on any sport or bet type (minus round robins). If your bet wins, you'll keep the initial bet and winnings. If it loses, you'll be refunded the same amount as your initial bet in Bonus Cash (aka free bets).

Let's dive into the specifics of how this offer works below.

How Does a Risk-Free Bet Work?

We covered the different lingo that sportsbooks use for promotions already, but let's dive into a specific example.

Here's how the risk-free promo offer works, with an example for Tuesday's critical MLB action below as teams fight for the postseason.

Here are the possible outcomes:

• If your first bet wins: you keep the winnings and your deposit.
• If  your first bet loses: you'll get refunded in bonus cash (aka free bets) equal to that first wager.

OK, now to the example.

You make your first deposit for $200. You bet it all on the Phillies at +110 against the Blue Jays as Philadelphia looks to lock up its wild card spot.

Philly is +110 on Tuesday night (if you're unfamiliar with what that means, check out our 12 tips for beginner sports bettors).

• If the Phillies win: you win $220, and keep the original $220. You've now got $420 in your account.
• If the Phillies lose: you'll get $200 in bonus cash (aka free bets).

Let's continue with the Phillies losing so we can see how free bets work.

How Bonus Cash Works at Barstool

You take your $200 in bonus cash and split it into two different bets — $100 on the Jaguars moneyline against the Chargers with a banged-up Justin Herbert, and $100 on the Ravens -3 against the Patriots.

Now let's say the Jags lose but the Ravens win and cover. You'll win about $91 on the Ravens, but you don't keep the $100 in bonus cash.

So now on a $200 deposit, you're down to $91 in cash in your account, for a total loss of $109 on your risk-free bet.

That's why it's not truly risk-free — you can lose money on your first wagers.

Other things to know: You must use your bonus cash within 30 days, or it will be revoked. And you cannot wager on anything longer than -200 odds, or else your bonus cash won't convert to real cash (but you want to use your free bets on longshots, anyway). That means a -150 bet is OK, but -300 isn't.

How to Sign Up at Barstool and Claim the Promo

It's simple to sign up at Barstool Sportsbook.

1. Follow this link
2. Input all your accurate information (name, address, last four of SSN)
3. Make sure you use Barstool Sportsbook promo code ACTNEWS1000 at checkout to qualify for the bonus offer
4. Deposit using a bank account, credit card, or PayPal
5. Make your first bet risk-free, up to $1,000

Barstool's promo code bonus offer is available in 13 states — Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia and West Virginia. Users can still sign up and bet if they travel to a different state where Barstool operates.

How to Use Your Risk-Free Bets

The optimal way to use your risk-free bets, mathematically anyway, is on plus-money wagers. That's because you're getting much more expected value from +250 or +500 wagers — the higher the line, the more value.

But not everyone wants to squander their big free bets on longshots, even if it's mathematically optimal.

Here are a few ways to use your risk-free bet at Barstool Sportsbook on Monday Night Football and beyond.

• Week 3 look-ahead bets to lock in now.
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• NFL trends to bet in Week 3.