With such a wide selection of betting options at our disposal, it’s an exciting world out there for the modern punter. Whether it’s sports, politics, or television awards, there is something out there for everyone to get excited about laying down a bet on.
Of course, we want to get some money back for our bet, as well as having a good time, right?
That’s why free bets are a great way to get a taste for betting and see if it’s something you would like to try your luck at more regularly.
Free? What’s in it for the bookies?
Betting companies offer free bets as a way to entice customers in to bet with them. Free bets are sometimes given to loyal customers, but typically they are awarded as a ‘sign-up offer’. This means that if you sign up to the site with your name, address and bank account details, they will get you started with a free bet. Often, identification also needs to be supplied in order for you to join. The sites will be hoping that having had a taste of the action, you’ll bet with them for years to come.
How do free bets work?
The details of how you receive the free bet and how you may use it vary across betting sites. However, the general principle is that you are given the opportunity to place a bet with no risk attached. You place the bet as you would any other, but no money is taken from your account, and you still keep the winnings. However, remember that your stake is not returned to you if you win like a normal bet, as you didn’t put on a stake; to begin with.
Let’s say you want to place your first free bet on a soccer match. You’re backing the underdog, Corinthians, to beat Flamengo at odds of 2/1. Let’s also say that the free bet amount offered to you is R$50. Corinthians pull it off and you take home a tidy profit of R$99.95. All without putting any of your own money down! But remember, you wouldn’t get the stake of R$50 back as well, as it was a free bet.
It is worth looking out for the small print, though. Some free bet offers don’t allow you to win actual cash right away. Instead, you have to turn over your free bet amount a certain number of times before being paid out.
Are there any other requirements?
Sometimes. Some free bet offers will require you to complete a qualifying bet before you are given the free bet in the first place. This means that the bookies will ask you to place a ‘regular’ bet, i.e. with your own money before they give you a freebie. Often, there will be further requirements in order to ‘qualify’, such as how much this stake has to be, and what the odds are. For instance, in most cases, your qualifying bet will have to be on odds above evens. But don’t worry, once that’s done, you can be as cautious or as risky as you like. Happy betting!