What are free bets and how to find them
Most bookmakers offer free bets(FB), bonus bets, or bonus credit to attract new customers and encourage you to bet online instead of using more traditional methods, such as betting at physical (offline) bookmakers.
These new offers usually include offering FB to potential customers, betting offers, or increased odds on a sporting event when registering a new online betting account.
Free bets come in all shapes and sizes from 100% matching bets to offers that give you three to four times the value of the first bet you make through your account.
Really good free bets can be found on sites like BettingBonus.online. They give plenty of options, compare them, and you can also check out some reviews.
What is a free bet?
The free bet has a certain value, for which the bookmaker offers to pay it. Many online bookies offer FB to customers who open new betting accounts.
They may sound too good to be true. Do bookmakers really offer their customers FB? Well potentially, yes – especially if you are disciplined and patient.
You can think of this as an opportunity to make a risk-free bet and receive a payout of the net profit from it if it is winning.
The difference between a free bet and a regular one is that you do not deposit your money, so you will not be refunded along with your winnings if you win. Thousands of FB are available from reputable online bookmakers at any time. You usually qualify for them when you first open a new bookmaker account.
Why do bookmakers offer free bets?
Bookmakers use them to encourage people to register for their services and make a deposit in their account. In return, they will give you something for free, hoping that you will continue to bet with them in the future.
Is there a trick in offering bonuses?
There is usually some trick, although you can still use the bonuses to your advantage. Some bookmakers justify the claims about free bets and do not even require you to deposit funds with them first. Other bookmakers may require you to use your funds to place additional bets before paying out winnings.
To qualify for this with a bookmaker, you usually need to:
- Register an account with the bookmaker by providing and in some cases confirming your personal data;
- Register a valid payment method and make a deposit in your account;
- Use your funds to place some money on a sporting event – the value of this bet usually determines how much you will be given to make a FB.
In some cases, you may not be allowed to play your qualified bet on odds below equal. This is to prevent people from supporting almost certain winners. Before trying to win money with this, make sure you read the terms of the offer. The main things to watch out for are any betting requirements and geographical restrictions.
Terms and Conditions for receiving a free bet
If you come across a bookmaker that offers a very generous free bet, you should check the game requirements before accepting the offer. The entry requirement will mean that you must make a certain number or value of additional bets before the winnings from the FB will be paid out.
If a game requirement applies, the simplest way to determine the value of a FB is to multiply it by the number of times it is required to turn it over or to play its full value using your own funds.
Let’s say they offer you are given an offer for 100€. If you have to turn it over three times before it is paid out, you will have to place 300€ before winnings are paid out. The rules governing the requirements for the game differ from one bookmaker to another.
Geographical restrictions
The bookmaker may apply geographical restrictions to the credits it offers. In this case, the country or countries in which they apply or the countries that do not meet the requirements will be indicated. If no geographical restriction is mentioned, you can assume that a FB applies to all users.
How to use free bets?
There are several ways to make FB work in your favor. Here are some of the options:
- Double your account – this is the simplest and easiest way to use this option. If you already have a bet in mind, it makes sense to do so with a bookmaker who will give you a free one. Doing so will effectively double your account balance;
- Bet Hedging – If you have a prediction, you can use a FB on another possible outcome such as hedging. For example, you can choose to put money on one team that wins the sporting event and then use the bookmaker’s funds to support the other team. This simple tactic can increase or even guarantee your chances of winning at no extra cost;
- Turn it into money – if you just want to turn this into money, you can use a tactic called “matching bets”. This includes placing a FB on a specific result and using the betting exchange to put your money on that the same result will not occur. Because you made the bet for free, you are guaranteed a win regardless of the result. Something like an Arbitrage.
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