Free Bet Offers Explained

People often say that nothing in this world comes for free. But what if you come to know that there is? 

When it comes to betting, free bet offers are one of the most popular promotions in the online betting world. They are a great way to attract new and existing bettors and improve their experience by giving them the chance to bet without risking their hard-earned money. However, there are a lot of terms and conditions attached to free bet offers, which you must be aware of before entering this field.  In this blog, we will explain the ins and outs of how free bet offers work and give you some tips on how to take advantage of them.

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What are Free Bets?

Licensed online sportsbooks extend free bets or no deposit bonuses as typical promotional offers to incentivise players to sign up for their accounts and use their services. Moreover, these offers are not only limited to new users but to the existing members of the site as well to ensure they remain loyal to their online sportsbook.

With a free bet, there is no need to risk your own money. That means, unlike traditional wagers, you can have a thrilling experience without any financial burden. Furthermore, you can be rest assured of a profit from these free bets. They can also help you boost your long-term betting bankroll.

What are the Different Types of Free Bets?

Online sportsbooks offer free bets irrespective of experience or length of custom. It can be a welcome, sign-up or reload bonus specially designed to retain the members. Here are the five types of free bets you may find in different online sportsbooks.

Deposit Bonuses

These are offered to both new and existing players. When awarded to a new user, it is called a matched deposit bonus. On the other hand, when deposit bonuses reward the existing players, they are known as reload bonuses to encourage bettors to reload their accounts with a real money deposit. A reload bonus also provides a percentage of the deposit in bonus funds as well.

No Deposit Free Bets

You do not need to make an initial deposit for these free bets. If you want to explore an online sportsbook platform risk-free, no deposit-free bonuses can be an appealing choice. However, there are some terms and conditions to avail no deposit bonus, including limits on the odds you can bet on and more.

Sign up Bonuses

Though sign-up bonuses are designed for new users, you have to place an initial wager to activate them. They commonly come with a time limit and have minimum odds with live bets. 

Risk-free Free Bets

If your qualifying wager loses, you will get awarded with a risk-free bonus. However, some free bets are provided if you win the qualifying bet.

Stake Not Returned

Free bets are also called stake not returned or SNR. That means when you get the bonus, you will only receive the profit from the wager and not the stake. Therefore, it is crucial to look for the terms and conditions before placing any bet.

How do Free Bet Offers Work?

To qualify for free bets, you have to be a new customer on a sportsbook site where you do not have any existing account history. After signing up for a site, you have to accept the lengthy terms and conditions and deposit a specified amount. After that you must bet that amount with odds over a specified limit before receiving the same amount as a free bet.

Nonetheless, usually, bookmakers enforce playthrough or wagering requirements, that is, if you win after using your free bet, you have to bet through your original deposit without withdrawing any winnings before this. 

In such scenarios, the best way to determine the value of the free bet is by multiplying the free bet by the number of times you need to turn it over. Alternatively, you can bet the full value by using your own money.

Other than these, make sure to check if the bookmaker has applied any geographical restrictions to the free bets. If so, check the list of countries where the bet applies. However, if there are no restrictions, it means the free bets are applicable for the users.

How to Utilise the Benefits of Free Bets?

You can make a guaranteed profit from free bets by implementing the following techniques provided below:

Strategy 1: Find your preferred free bet bonus.

Strategy 2: Create a new account. If already there, deposit real money to unlock reload bonuses.

Strategy 3: Utilise the free bets in your sportsbook’s bet slip. It will comprise a toggle enabling you to use any free bets available on the site.

Strategy 4: Try to meet the wagering criteria attached to your free bet funds. 

Strategy 5: Withdraw your free bet bonus amount as real money.

How to Choose Free Bets?

It requires a thorough understanding of free bets to make an informed choice when it comes to choosing one. Besides, given the vast number of free bets available, it can be overwhelming to decide which one to opt for. Here are some of the points to consider before selecting a free bet:

Check out the review section of the sportsbook sites to find out the ratings.

Run a detailed comparison among the shortlisted sportsbook sites to confirm which site you should consider to claim free bets. 

Take a look at the small summary of each of the free bets and access other crucial information, including the terms and conditions and the benefits of free bets.

To Sum up

Free bet offers can be a great way to boost your betting experiences, as they allow you to take part without having to put your money at risk. However, it is important to be aware of the terms and conditions associated with free bet offers. The most significant among them are the limited time and maximum stake requirements. 

You may also come across withdrawal restrictions associated with free bets. You may have to meet some conditions or place additional wages before withdrawing your winnings. Hence, understanding how free bet offers - their mechanism, benefits and types will ensure a risk-free way to explore online sportsbooks.