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Free Bets FAQ
How do free bets work?
Free bets work when a bookmaker gives a customer the ability to place a bet without any financial risk attached. Free bets are associated with opening a new bookmaker account and free bets for existing customers.
There a many different types of free bets with various terms, conditions and requirements before customers can take advantage of the free bets. Some bookmakers make it very simple to use free bets and do not require that you deposit funds into an account first.
How do you use a free bet?
Use a free bet by following a link to a special offer, or look for an option in the betslip to make sure your selection is being backed with a free bet. The main difference between a free bet and a normal bet is that you do not have to use your own money to bet, but the stake will not be refunded with your winnings if the bet wins, only the profit on the initial stake.
How to get free bets?
To get free bets you typically need to:
1) Open an account with a bookmaker, usually by providing and verifying your personal details such as name and address.
2) Register a valid payment method such as credit card or bank account and deposit funds into your account.
3) Place a bet on a sports event or match, with the value of the bet usually determining how much money you will be offered as free bets.
Some free bets terms and conditions means you might have to use your free bets on a betting market that is even money (2.00) or over. This is to stop punters from backing short priced favourites.
It is essential that before you attempt to use free bets that you familiarise yourself with the terms and conditions attached to the free bets. The most important things to watch out for are turnover requirements and geographical restrictions that may restrict your ability to take advantage of the free bets.
Can you cash out a free bet?
Bookmakers will not normally allow you to cash out a free bet but always check the terms and conditions.
Can you withdraw winnings from a free bet?
If your free bet is a winner then the profit will be credited to your account but the original free bet stake is not returned. You can then withdraw your winnings from a free bet as long as it has satisfied the terms and conditions.
How to claim a free bet from bookmakers
Claim a free bet from bookmakers by doing your research and finding the best offers available. Bookies will compete when they are big games or tournaments on so compare to find the best free bets out there.
You can claim a free bet by following a link or selecting an option in the betslip to ensure your pick is being backed with a free bet. Free bets can usually be used on any sport and normally be claimed when you open a new account with an online bookmaker.
Can you make money from a free bet?
You can win money from free bets if you follow some simple rules and be disciplined. There are many ways you can use free bets, here are some of the options to make sure free bets work in your advantage.
Double your bankroll - Double your bankroll involves finding a bookmaker that will give you a free bet, then you can place the bet without risking any of your own funds. Doing this effectively will double your bankroll.
Hedge a bet - A hedge bet is essentially betting on two opposite outcomes to guarantee a profit. Using free bets to hedge a bet is a great way to guarantee your chances of making a profit.
For example you might to bet on a team winning a cricket match and then use a free bet to bet on the other team. Depending on the odds on offer, using free bets to hedge a bet is one of the best ways to utilise bookmaker offers.
Turn a free bet into cash - You can turn a free bet into cash by using an approach known as matched betting. This is similar to a hedge bet, but it involves placing a free bet on an outcome of an event of match with one bookmaker and using a betting exchange such as betfair to bet against that outcome.
Because one of the bets was placed as a free bet, you are guaranteed a profit regardless of which outcome occurs.
Do I need to deposit money to get a free bet?
No, many bookmakers have no deposit options where free bets are given to customers when they open a new account without having to make a deposit.
How much do you need to deposit?
The amount you need to deposit to receive free bets when opening a new bookmaker account will vary. A £10 initial deposit can normally be enough to receive free bets such as ‘Bet £10 Get £30’ or ‘200% and 300% First Bet Bonus’.
‘Bet £10 Get £30’ - The name of this offer says it all. A bookie will give you extra funds to bet with after your first bet is placed or settled.
200% and 300% First Bet Bonus - A 200% and 300% first bet bonus is a free bet that amounts to two or three times the size of your first bet after signing up to a new betting account. An example would be depositing £10 with the bookie giving you a £20 or £30 free bet.
Do you have to use the free bet on a specific event or match?
Sometimes the free bet will be associated with a specific event or match. If not, use your free bet in any sport, event or horse race of your choosing as long as the odds follow the terms and conditions.
You can normally use free bets on any betting market and any bet type. This includes singles, doubles, trebles, accumulator, Lucky 15s and 31s.
How will the free bet show in my account?
The free bet will be listed in your account as a free bet. This way you know if the funds used to place the bet come from your main wallet or a free bet. Pay particular attention to make sure you are placing your wager using free bets.
Do you need to make a number of bets before you withdraw winnings?
Many bookmakers require you to make a number of bets before you withdraw your winnings This is also known as play through requirements for free bets. Play through requirements for free bets means you have to place a certain quantity or value of further bets before the bookmaker will pay out any winnings from the free bets.
To determine the value of free bets according to play through requirement, simply multiply the free bet by the number of times you have to turn it over. If you are offered a $100 free bet with a play through requirement, you could be required to turn it over three times before the bookie will payout.
This means that you will need to bet $300 before any profits are paid out on your free bets. Take special care to read all the terms and conditions as the rules governing play through requirements differ from one bookmaker to another.
Free Bets and Promo Codes
Some bookies require you to use a promo code before offering new customers free bets. Be sure to read the terms and conditions.
Free Bets Terms & Conditions
Always check the terms & conditions for free bets. There can be restrictions depending on how new customers make their first deposit. Many punters that open a new betting account like to use Skrill, Paypal, Neteller or Paysafe but bookmakers may only offer free bets if the deposit is made by credit card or a bank account.
Free Bets Geographical restrictions
One of the restrictions to look out for when taking advantage of free bets is geographical restrictions. This means that a bookmaker applies geographical restrictions to their free bets depending on where you live.
Check the countries listed by the bookie that apply to the free bets or the countries that do not qualify. If no geographical restriction is mentioned in the terms and conditions it’s safe to assume the free bets applies to all users in all countries.
What are the different types of free bets?
Many online bookmakers or online sportsbooks offer different types of free bets & welcome offers. They can fluctuate from the time they are offered can change rapidly so sometimes you will need to act fast to take advantage of the best free bets.
Some of the most popular types of free bets, welcome offers, sign-up bonuses, welcome bonuses and loyalty incentives are as follows:
Treble Odds Free Bet Bonus - The treble odds free bet bonus means a bookmaker will treble the odds on your first bet and provide the additional winnings as a free bet.
Enhanced Odds - Enhanced odds refers to a bookmaker increasing or boosting the odds on your bet with the extra profit credited to your account as free bets.
Staggered Free Bets - Staggered free bets refers to a bookmaker providing new customers with a number of free bets equal to the amount a customer deposits into a new account. One example of staggered free bets would be a new customer depositing £10 into their account with the bookie providing four free bets worth £10 each.
Why do bookies offer free bets?
Bookmakers offer free bets to encourage people to open a new betting account. It is a sign of good will from the bookmaker, in return they hope you will enjoy using their service and become a loyal and long term customer.