FREE BETS explained
Free bets explained
What are the most common types of free bets?
When it comes to online bookmakers, there’s no such thing as a free lunch, but there is such a thing as a free bet. They are always looking to obtain new custom, and will offer a range of free bets and other deals in order to persuade you to sign up with them.
Some sports books will even offer you a continual stream of free bets in order that you use your betting account with regularly. Such offers go a long way towards making your sports betting enjoyable.
Free bets are a great way of evaluating a new online bookmaker, and to see if the markets and options available are to your liking.
There are different types of free bets on offer and below we look at what you can expect to achieve when using them.
Matched Deposit Bet
The matched deposit is the most common type of free bet that you’ll find. If you make a deposit at the site, then the site will match whatever you deposit with the same amount of cash as a free wager, up to a certain limit. You can then use your free bet money to make further bets.
You will not be able to withdraw your free bet money until you’ve wagered it a certain number of times. For example, if a matched deposit free bet deal comes with wagering expectations of ‘five times’, then you will need to make wagers with your own money totalling five times the amount of free cash you amassed. So, if you receive a £10 free bet, you’d need to make five times that – £50 – in wagers before you can withdraw your winnings or balance.
Wagering expectations usually come with ‘minimum odds’ too – that is you can only place wagers that contribute to meeting your wagering expectations on events with a minimum odds caveat, usually around Evens or 1/2. This is to try and stop you from meeting wagering expectations by gambling solely on ‘dead certs’ and to give them a chance to get their money back!
Free Bet No Deposit
Now we are talking! Some online betting sites will give you free bets just for signing up with them. Usually such bets are small – typically between £5 and £10 – but this can add up. Once you have completed the sign-up process, you will find that you will have some ‘free’ money in your account.
This money will not be withdrawable – you will HAVE to use it to wager. Again, the ‘minimum odds’ caveat is likely to come into play.
There is one consistent factor about ALL no-deposit free bets across ALL sports books – your ‘free bet money’ is not returned as a stake when you place a wager if that wager is a winner.
No Risk Free Bet
This is not a typical free bet in the true sense of the word, but it is still a great way of getting some free cash from an online sports book.
You use your own money when taking advantage of a ‘no risk’ bet. You are usually not bound by ‘minimum odds’ restrictions, meaning you are free to bet on any event from any market as you so wish. If your selection looses the site will replace your stake, up to a maximum value, as a free bet. A free bet from a no risk bet typically has all the same caveats as mentioned above.
Enhanced Odds Free Bet
Again, this is not a typical ‘free’ bet, but is another way you can earn yourself a brilliant welcome deal when you sign up at an online sports book. This offer will give you so-called ‘enhanced odds’ on a specific event. If the ‘normal’ odds for this event are priced at Evens (2.00), but for the enhanced odds deal they are actually priced at 4/1 (5.00).
If you were to place a £10 bet (there is usually a minimum and maximum stake to contend with) you would receive back £50, as opposed to the £20 you would have otherwise been rewarded with.
The only real caveat to this deal is that any money you win over the normal odds is paid out as bonus money. In the above example, you would have your stake of £10 returned, £10 in ‘normal’ winnings and £30 in ‘enhanced odds’ winnings. Your enhanced winnings would then be subject to the typical free bet terms and conditions, or wagering expectations.
Free Bets Today
Bookies are always running new free bet promotions, whether it’s event-specific offers or an updated welcome offer for new players. For the best selection of free bets on the internet check out our betting offers section.