Bettors who place a $50 moneyline bet will be given site credit up to $50 if their team loses by six points or less.
FanDuel Sportsbook’s Week 3 Moneyline Insurance
Simply place a moneyline bet on a Week 3 NFL game at FanDuel Sportsbook, and receive up to $50 back if your team loses by six points or less.
You can bet on multiple games on the Week 3 slate, but only the first moneyline wager per game is eligible for the insurance.
Cash out, live bets, and multi-bet wagers, such as parlays and teasers, are ineligible.
The max bonus a person can receive per game is $50.
Here’s an example.
Say you place a $75 bet on the Eagles to win outright. If they win the game, you will be paid the payout of your bet as normal. If they lose by six points or less, you will receive $50 of your $75 back.
Now, these are site credit promotions, meaning that the money you receive as a bonus will have to be wagered again before it is eligible to be withdrawn. These are called play-through requirements and they are standard in the sports gambling industry.
While this is not the first time we’ve seen close-loss insurance or a risk-free bet, those offers are typically reserved for new users.
FanDuel Sportsbook does offer new users a $500 risk-free bet, but generally speaking, promotions for current players aren’t as strong, and any insurance bets that we’ve seen are often capped at around $25.
Double that amount on a moneyline bet – where you can bet favorites on all games throughout the course of the weekend – is a pretty strong offer.
So why is FanDuel doing this? They are currently the leader in the PA betting market, generating $35 million in handle in August, and that lead will likely grow in September even with the increased competition from FOX Sports’ FOX Bet.
However, next month DraftKings Sportsbook PA is expected to laucnh, and then Unibet may launch in late October or early November.
FanDuel will be facing increased competition and they want to do their best to capitalize on market share before other powerhouses enter the state.
FanDuel Sportsbook is no stranger to running aggressive promos. They ran a 53-1 odds boost on moneyline bets at a maximum of $5 for the Super Bowl, and have run other strange high odds boost promos.
Those are typically more gimmicky and reserved for new users. A $50 insurance on NFL moneyline bets available across the entire slate is a very good offer.
If you haven’t signed up for FanDuel yet, you can claim a $500 risk-free bet by clicking here and to be eligible for this current offer, hit the promotions tab once you are in the app, which is available on iOS and Android.