ALL ABOUT FREE BETS
/ July 19, 2019 /
Bookmakers offer to pay an amount of bet for the customer when opening account, these kind of bets are called free bets. Usually they are promoted as welcome offers and are available for new clients that open account at their site.
Free bet is like a no risk betting opportunity that you get to keep if you win the bet or simply lose the opportunity when loosing the bet, which allows you to not lose your own funds.
The difference between a free bet and a regular bet is that you don’t contribute the stake yourself, so the stake won’t be refunded to you along with your winnings if the bet wins. Free bets offers are available from reputable bookmakers online all the time, they even compete with each other in them. Most of them can be obtained when you first open a new account with an online casino or bookmaker.
What is There Reason Why Free Bets are Offered?
Bookies use free bets to encourage people to sign up for their services and make a deposit into their account. Sign-up free bets tend to be the most generous one, however you may receive different free bets on promotions that are being made my bookmakers or on some special occasions and larger sporting events like the soccer world cup.
So what's the Catch?
Some sportsbook offers tend to have some kind of pre-requirements of getting a free bet like filling out your account information or checking out their offer after making a deposit. Some bookmakers don’t have a catch at all since their catch is to acquire new clients and a free bet seems to be good enough price for that to pay.
To qualify for a free bet with a bookmaker, you typically need to:
- sign up for an account with the bookmaker, sometime verifying your account with documents
- register a valid payment method and make a deposit into your account
- placing a bet on a sports event with your own funds first in order to acquire a free bet
Sometimes there are some restrictions on what kind of bets and betting markets you can use your free bet or some certain sports event you need to place a bet on to get the free bet. Bookmakers also setup rules on how these free bets can bet acquired and used. The main things to look out for are any wagering requirements and any geographical restrictions.
It’s not gambling if you always win! It is the easiest way to make money on sports. Learn all about Sports Arbitrage.
Wagering Requirements
If you see a very generous free bet sign up, you should check for wagering requirements first. Wagering requirements or turnover requirements usually requires you to make one or multiple bets after you have won your free bet in order to withdraw the newly acquired funds.
If a wagering requirement applies, the simplest way to determine the value of a free bet is to multiply the free bet by the number of times you’re required to turn it over, or bet its full value, using your own funds. So a bookies has offered you a €100 free bet. If you’re required to turn it over three times before being paid out, you’ll need to bet €300 before any winnings on your free bet are paid out. Wagering requirements and rules are different for every bookies so make sure to read them first before taking any offer.
Geographical restrictions
Usually bookies will make a list of countries in which they will not allow free bets to be acquired. This usually applies to some countries that are infamous of fraud and different scandals involving sports events.
Some Ways to Take Advantage of Free Bets Offers
There are several ways you can make free bets work to your advantage. Here are some of them:
Double your bankroll – If a bookmaker has a free bet offer and you have a betting option in mind it is best to take it and by making them bet, getting a chance to double your winnings. Doing this will effectively double your bankroll.
Hedging a bet – you can easily make profit by placing a bet on one outcome in your current account at bookmaker A and then open a new account at bookmaker B and place the free bet on the same event just the opposite outcome, this way you are guarantee yourself profit without even caring about which outcome happens.
Turn the free bet into money – if you simply want to turn a free bet into cash, you can use a tactic called no risk matched betting. This involves placing free bets when you join on a particular outcome with a bookmaker and using a betting exchange to bet that the same outcome won’t occur. Because you placed the bet for free, you’re guaranteed a profit no matter which outcome occurs. You may want to use free bets calculator for this trick.
For information about the free bet offers that various bookmakers offer new account holders, see our section on best bonus offers.
Spread the word
More posts