Depending on what you put in there yes and no. If its just being used for water, then absolutly. It is still a good idea to wash regularly, soap and water should do the trick, because despite water being mostly bacteria free after its been filtered, your mouth has literally billions of nasty little bacteria and germs living in it. All spawning from the air we breath to the foods we eat. So everytime you take a drink from that bottle your leaving some of those germs in or on the bottle. In fact givin the right environment you can actually grow the bacteria from your mouth in a petre dish. I did this once as a school project and was amazed. Nothing more than a cutip type swab in my mouth and 3 days later i have a petre dish full of nasty little critters. Not just under a microscope mind you, i could see them as sson as I pulled the dish out of the incubator. So yes be eco friendly and re-use that water bottle, just take the precautions to keep yourself safe as well.
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Here's what you have to know: these water bottles are made only to be used once. If you use them more than once, the plastic will start to break down and polybutane will start to leech out of it. Polybutane is toxic. Don't reuse them. Instead, just buy a good water bottle and it will be better for everyone.
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I reuse mine all the time. I soak them in a heavy soap solution and then soak them in very hot water. As I write, I have just finished a lemonade drink made half and half from concentrated lemonade and Crystal Light lemon powder. I make all kinds of concoctions, including cranberry, apple, blueberry, and grape juice drinks. I usually mix the pure juice with a lot of water so that I get my juice and stay hydrated at the same time.
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The FDA makes sure that bottles or any plastic are safe to use. So while you are right to be concerned that the effects may have already taken place before the bottle arrives at the store, the there have been studies raised that chemicals leached from the plastic used for single-use bottled water bottles will greatly affect you have been refuted by many other experts. Like anything thing else, you should not use the bottle too long before throwing it out because the plastic will wear down. The main concern is bacteria mostly from your mouth and making sure you wash the bottle out with soap and water between uses.

In this article http://walking.about.com/od/fluids/f/reusingbottles.htm I found this
"FDA assesses the migration potential of plastics and the substances with which they are made. FDA allows food-contact plastics for their intended use based on migration and safety data. The clearance process includes stringent requirements for estimating the levels at which such materials may transfer to the diet. FDA's safety criteria require extensive toxicity testing for any substance that may be ingested at more than negligible levels.

This means FDA has affirmatively determined that, when plastics are used as intended in food-contact applications, the nature and amount of substances that may migrate, if any, are safe."
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Eww, (Spits water back into bottle, runs and gets a cup) adding more chemicals into your body sounds bad, but do not we add chemicals into our bodies anyways? I have tons of water bottles I have reused and I have never got sick from them.
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Most types of plastic bottles are safe to reuse at least a few times if properly washed with hot soapy water. But recent revelations about chemicals in Lexan (plastic #7) bottles are enough to scare even the most committed environmentalists from reusing them (or buying them in the first place).

Chemicals May Contaminate Food and Drinks in Reused Plastic Bottles
Studies have indicated that food and drinks stored in such containers—including those ubiquitous clear Nalgene water bottles hanging from just about every hiker’s backpack—can contain trace amount of Bisphenol A (BPA), a synthetic chemical that interferes with the body’s natural hormonal messaging system.

Reused Plastic Bottles Can Leach Toxic Chemicals
The same studies found that repeated re-use of such bottles—which get dinged up through normal wear and tear and while being washed—increases the chance that chemicals will leak out of the tiny cracks and crevices that develop over time. According to the Environment California Research & Policy Center, which reviewed 130 studies on the topic, BPA has been linked to breast and uterine cancer, an increased risk of miscarriage, and decreased testosterone levels.

BPA can also wreak havoc on children’s developing systems. (Parents beware: Most baby bottles and sippy cups are made with plastics containing BPA.) Most experts agree that the amount of BPA that could leach into food and drinks through normal handling is probably very small, but there are concerns about the cumulative effect of small doses.

Even Plastic Water and Soda Bottles Should Not Be Reused
Health advocates also recommend not reusing bottles made from plastic #1 (polyethylene terephthalate, also known as PET or PETE), including most disposable water, soda and juice bottles. According to The Green Guide, such bottles may be safe for one-time use, but re-use should be avoided because studies indicate they may leach DEHP—another probable human carcinogen—when they are in less-than-perfect condition.

Millions of Plastic Bottles End Up in Landfills
The good news is that such bottles are easy to recycle; just about every municipal recycling system will take them back. But using them is nonetheless far from environmentally responsible: The nonprofit Berkeley Ecology Center found that the manufacture of plastic #1 uses large amounts of energy and resources and generates toxic emissions and pollutants that contribute to global warming. And even though PET bottles can be recycled, millions find their way into landfills every day in the U.S. alone.

Incinerating Plastic Bottles Releases Toxic Chemicals
Another bad choice for water bottles, reusable or otherwise, is plastic #3 (polyvinyl chloride/PVC), which can leach hormone-disrupting chemicals into the liquids they are storing and will release synthetic carcinogens into the environment when incinerated. Plastic #6 (polystyrene/PS), has been shown to leach styrene, a probable human carcinogen, into food and drinks as well.

Safe Reusable Bottles Do Exist
Safer choices include bottles crafted from safer HDPE (plastic #2), low-density polyethylene (LDPE, AKA plastic #4) or polypropylene (PP, or plastic #5). Aluminum bottles, such as those made by SIGG and sold in many natural food and natural product markets, and stainless steel water bottles are also safe choices and can be reused repeatedly and eventually recycled.
Source(s):
http://environment.about.com/

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I have heard the warnings about reuse and cancer also, and the heating and freezing of plastics. I checked it out and my personal opinion is I do not believe it is harmful.
Source(s):
www.snopes.com/medical/toxins/petbottles.asp

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I have no problem reusing certain bottles- gatorade, powerade bottles, and the occasional Aquafina type water bottle. If its just Gatorade or something and I'm the only on to have used the bottle previously (or if no ones mouth as touched it) I have no problem filling it with water from the Brita pitcher and either immediately reusing it or putting it in the fridge for use later. I do not freeze them. If a reused bottle ever sits in the car too long, and the water gets hot, I toss it.

However, I won't reuse them for a long period of time. Maybe a 2-3 days. I do attempt to recycle the old bottles, but sometimes it doesn't happen as planned...

http://www.frankaboutfood.com/images/ca070819.gif
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Anyone can re-use plastic water bottle if it not treated with chemicals,corrosives,heat.one thing should remember that bottle should wash with detergent or soap-water regularly, so that organism not grow.
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Personally, I don't thinkt there's a problem with it. I always reuse mine, because it gives me a unit of measure. Like today I want to drink (x) bottles of water, instead of glasses. It's just convenient and economically friendly. It hasn't caused me any harm yet. If you're worried, you could always sterilize your bottle in boiling water. Ironic isn't it?
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