XM is one of the few reputable brokers that offer a no-deposit welcome bonus to new clients. All you have to do to qualify for this $30 no-deposit welcome bonus is to register and open a live trading account and there is no need to deposit money before you'll be credited with the welcome bonus.

Most sportsbooks will automatically give you your free bets once you register. However, some require you to opt in for the offer. Once you do this, you should receive your free bets.

For example, if the odds for a particular team to win a championship are +500, this means that a bettor would receive a payout of $500 for every $100 they wagered if that team goes on to win the championship.

Odds of +200 mean you can win $200 on a $100 bet, but there's no quick way to determine the implied winning probability. If these odds appeared as fractional odds 2/1 you could quickly solve for the implied winning probability using this formula: Decimal / (Numerator + Denominator) x 100%