Free Bets Explained
When you open a player account on any of the online betting sites, your will receive a welcome offer from the sportsbook. There are many different types of welcome promotions. These offers can be match bonuses, free bets, risk-free bets, profit boosts or just no deposit money, that you can use when placing your bets.
Free bets are what the packaging says, most of the time. You get a free wager to place on a sporting event, and you get your winnings in real money, as simple as that.
Example: An online bookie gives a “two free bets worth $10 each” offer. You’ll typically need to place two $10 bets of your own and, after that, can use both of the free bets.
Most of these offers are for new customers, but sometimes these offers are towards a major sporting event or apply only to selected games. The start of the premier league, the Champions League final, March Madness, Superbowl or Grand National are events that usually bettors get something extra with.
Different types of Free Bets
If you are a new customer, you’ll find many good welcome bonus offers from BonusFinder. For existing customer, online sportsbook can give away bonus bet when you have a bad run or when there are big events available.
Usually, these bets must be placed within a given time frame. Free bets typically have small stake sizes, so they aren’t as lucrative as deposit bonuses.
We have listed the most common types of promotions when betting online:
- Risk-free bets
- Free money
- Deposit bonuses
How does this type of a bets bonus work? You claim an offer, make your initial deposit and you get your stake back on bonus funds if your bet loses. When placing these bets, the terms and conditions of these offers vary, so better check the ‘restrictions apply’ information on the online sportsbook’s website.
For example, sportsbooks like PartyCasino may offer a risk-free wager for the New England Patriots to win the Super Bowl up to $20. If the Pats win, great, you win your bet – if they don’t, you’ll still get your $20 back.
It’s a common misconception that free bets and these no lose bets are the same. As you can see, they’re not. These offers refund your stake if you lose, while free bets give you extra bets when you’ve already bet on something else.
Both of the two are typically low value compared to deposit bonuses, but that shouldn’t prevent you from getting them. Get your free betting money wherever you can get it.
Well, this one is more easy to explain. Some of the bookmakers offer new customers a small amount to try out the site with. Usually, free money offers are given before the 1st deposit and are given out as betting credit or balance on your account, with very low rollover requirements attached.
You could say that the regular sign up bonus can be considered as a free bet. These ‘deposit free bets’ are, in general, bigger than the normal free offers. Your first deposit is matched by the bookmaker, so you get double the amount to play with. There are many things to take into account since some restrictions apply. Sometimes online bookmakers offer reload bonuses to existing customers, too.
There are many types of betting offers, and sometimes the terms are a bit tricky to understand. What makes it more difficult is that there are many different types of offers. Many bookies have different rules on their welcome offers and promotions for loyal sports bettors.
You have to read the terms carefully, as always, but this is especially the case with deposit bonuses. Here are the key things to consider when selecting your new customer free bets:
- Wagering requirements
- Minimum odds
- Minimum deposit
- Bonus codes
- Payment methods
- Bonuses expire
Wagering or rollover requirement means that how many times the bonus amount you need to wager with qualifying bets. This means that some promotions have terms defining the minimum odds to count as a qualified bet. Only qualifying bets to contribute towards the rollover requirements. Before you have met the requirements, your accoung balance will have withdrawal restrictions.
Minimum deposit (deposit min) defines the amount. When you have made a qualifying deposit and bonus will be added to your player account.
Bonus codes, or promo codes, are usual way to take part on the bets promotions. We have listed all bonus coded on BonusFinder that you need to claim the offers listed.
Some payment methods, like Skrill or Neteller, are excluded in some of the promotions, and some of the reload promotions can have some restrictions, too.
There is always a time frame when the bonus is valid. You have to claim your offer before it expires and make enough of matched bets towards the rollover requirement. Usually, these bonuses have from few to 30 days expiry time. This also highlights the importance of checking the offer terms when you evaluate different sportsbook bonuses.
Free Bets USA FAQ
- What are free bets?
Free bets are bets that a bookmaker gives either on sign-up or when you've been their customer for some time. Typically an online bookie matches your wager with a free bet of the same size. The stake is pre-determined.
- What are risk free bets?
Risk free bets save you from losing your bet altogether. When an online bookie offers a risk-free bet, you'll get refunded if you miss your bet. To gain the best value, you should sign up & deposit at as many online bookies as possible.
- Is risk-free bet the same as a free bet?
It's not. When you get a risk-free bet, you'll need to deposit and bet first. If your bet doesn't hit, you'll get your stake refunded, and you can bet again. With your free bet, you can bet for free. These offers are often much smaller than risk-free bets.