When choosing a bookmaker, incentives are especially appealing – but how do free bets work? Unfortunately, a read through these bookmakers’ terms and conditions show that it’s not just free money. Read this article to learn how free bets work & their drawbacks.

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Continuing on from our previous article – Why Free Bets come at a Cost – where we discussed free bet terms and conditions, this time we’ve actually investigated free bets from various bookmakers to learn exactly how they work – including their drawbacks.

One bookmaker – we’ll call them Regret Victor – has a £25 Free Bet offer for new accounts. Upon closer inspection of the offer, it is then revealed in the T’s & C’s that you have to place a bet with your own cash that must contain at least one selection with odds of at least 2.00, unless it is a four-fold or greater. They will then match this bet with ‘promo cash’ up to £25.

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Essentially, the bookmaker is telling you what to bet on with your own money before it will give you anything. And at 2.00 or greater, it’s a punt with a chance of winning under 50%.

Drawbacks:

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  • Free Bets usually require you to match the bookmaker’s investment with your own
  • Bookmakers steer you into less profitable or losing markets
  • To make a withdrawal you need to make ever more bets

Having fulfilled that condition, you are only able to withdraw any winnings from the promo cash once you have staked at least four times the value of your initial bonus amount and these bets are fully settled.

So even with the £25 in promo cash you would need to place a further bet of up to at least £100 of your own money before you could make any withdrawals.

More Money, More Conditions

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Some bookmakers – like one we’ll call Daddy Power – try to lure customers by enticing them with a huge free bet – Power offer up to £250.

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This isn’t however a gratis gift; to get the money you would need to place a bet of £50 to have it matched by the bookies, and then place another four bets of £50 to receive a second free bet of £50. After another five bets of £50, they then get another free £50, while a further ten £50 bets are needed to reach £250.

Essentially, the bookmaker is telling you what to bet on with your own money before it will give you anything.

The whole scheme requires a punter to bet £1,000 of their own money in order to get £250 worth of free bets. Oh, and all bets must have minimum odds of 1.50. Now is that what you would expect from a £250 free bet?

Another bookmaker – we’ll call them Bet 123 – has a different take on its high-value free bet. It offers a bet of up to £200, provided it is matched by the same deposited amount, and played on events with minimum odds of 1.50.

You then need to successfully rollover (rebet) your total deposit and bonus value three times before you can withdraw anything. This means that if you did deposit £200, you would have to wager £1,200 {£200 Deposit*3 + £200 Bonus*3} before being able to withdraw anything. Additional conditions require that you do not place bets on Asian Handicap, Goal Line and Baseball money line markets.

Risk Free Bet

Another slightly different approach to incentives, but equally deceptive, is the risk-free bet. You qualify for the free bet only if you lose your first bet (up to a certain amount), which essentially gives you your money back. However it is not as straightforward as it appears. This so called risk-free bet requires you to risk your own money first, and you have to bet more than the risk-free bet to be able to withdraw.

A bookmaker –we’ll call them DoBog – offers a £10 risk-free bet, although a £10 bet (from your own money) must first be placed on a bet with odds of at least 2.00 before you receive the £10 bonus. The bonus amount then needs to be rolled-over up to three times at odds of 2.00 or greater prior to any withdrawals.

Conclusion: Don’t Waste Time & Money

These so called incentives are a waste of both time and money. You have to spend time learning the exact terms and conditions if you want to see your cash again, while the poor value odds these bookmakers offer (having enticed bettors in with promo offers) end up costing bettors in the long run.

It’s far better to use a low-margin bookmaker like Pinnacle, which offers much better odds than incentive-offering bookies.

It’s no surprise that only the most experienced sports betting enthusiast has an opportunity to make a profit against the house in the long term. However, for the rest of us, there are more than enough chances to turn the odds in our favor in the short term.

The easiest way to achieve this is to take advantage of the free sports bets and other no deposit offers and bonuses available to new sportsbook players.

Most regulated online sportsbooks have free money offers that are custom made for new players to place the odds in their favor temporarily.

With more sports betting sites coming online every day, you should understand the potential of the bonuses available to you.

Whether you want to find a bonus or promo code to claim one of these offers, or you are combing the fine print to understand the playthrough requirements, we at PlayUSA have you covered with our comprehensive guide to bonuses available at online sportsbooks.

Top online sportsbooks with Free bets

How free bets work

Free bets sound too good to be true. Do sports betting sites really offer free money to their players? The simple answer is yes.

A free bet as an opportunity to place a wager without any risk, and receive a payout on the net winnings if you have a winning bet.

The main difference between a regular bet and a free bet is that you don’t need to contribute the stake when it comes to a free bet. Therefore, you won’t receive the stake as a refund along with your winnings if you have a winning bet.

There’s nearly an infinite supply of free bets available at reputable online sportsbooks. The easiest way to claim a free bet is to register for a new account with an online bookmaker. Reputable sports betting sites utilize free sports bets to encourage fans to register a new account and eventually make a deposit.

Online sportsbooks hope that by giving you something for free up front, you will continue placing bets on their site. This explains why you need to sign up for a new account and register a valid payment method before you receive your free bet.

How to claim the offer

To claim a free bet offer, most sports betting websites require a bonus or promocode.

Alternatively, you will need to make a minimum deposit before the free bet offer is credited to your account. However, the use of a bonus or promo code is one of the most popular methods utilized by online sportsbooks.

Should an online bookmaker require a code, you will need to provide it during the registration process or when you make your initial deposit. This process all depends on the nature of the bonus you wish to claim.

The promo code field is usually on the deposit or registration page. Once you locate the box, you enter the promo code that is associated with the free bet offer or deposit bonus before completing the registration or deposit. The bonus will then be credited automatically after that.

If you are on a sports betting site that doesn’t require a promo or bonus code, you need to gloss over the promo code field that is usually optional.

Please take note that you’ll still need to opt-in for the free bet or deposit offer to receive the bonus. This rule usually entails clicking on the “Deposit Now” or “Opt-In” button on the bonus or promotional page.

A promo or bonus code is essentially a coupon. However, instead of offering a discount on your purchased goods, it allows you to receive a better bang for your buck.

There’s plenty of online sportsbooks that offer unique promo codes. However, because we create our exclusive promo codes that are more generous when compared to the public offerings, we highly recommend that you shop with us first.

Types of free bet bonuses

You can treat yourself to a variety of free bet bonuses and promotions at some of the best sports betting sites in the industry.

To help you differentiate the types of free bet bonuses at reputable online sportsbooks, we will cover some free bet offers.

Risk-free bets

Risk-free bets can be an excellent foundation of matched betting profit. This type of free bet will allow you to place a bet knowing if you lose, you’ll receive the money back in the form of a free bet, cash prize or even a bonus.

However, a risk-free bet will require you first to make a deposit and place a bet with your money before a risk-free bet will come into effect. For instance, most sports betting sites will offer a $10 risk-free bet promotion. However, you will first need to wager $10 of your money. Also, your bet needs to be on minimum odds of 2.00 or higher.

Should you lose your $10 bet, you will receive $10 as a bonus back into your account only if you meet the wagering requirements. The bonus amount you receive must then roll over a couple of time at 2.00 odds of higher before you can withdrawal it.

Free bets

Alongside deposit bonuses, free bets are the most popular form of bonuses in the online betting industry, especially to new players.

Free bets can be seen as wagers you can make on the house’s expense. As a rule of thumb, you can only withdraw the winnings made from a free bet, and will not be able to cash in the free bet amount as well.

You can spend your free bets in an assortment of betting types. For instance, you can use your free bet amount to place a moneyline favorite during an NHL match, or you can use your free bet on a four-leg parlay if you want to take a risk. Either way, there’s nothing to lose.

Free bets can come in a variety of shapes and sizes to accommodate all betting preferences. These include:

Match bet offers

A match bet offer can also be regarded as a risk-free bet. It’s a smart way to promote a risk-free bet.

You will need to wager your hard-earned money before a match bet offer will take effect. Should you lose your first chance, the online sportsbook will credit your account with the same amount your wagered, up to a certain percentage.

Most online sportsbooks usually promote a match bet offer of 100% of up to $500.

Free bet no deposit offer

No deposit free bets are free at most online betting sites. As an entirely free bet, there will be no need to make a deposit to claim the no deposit free bet.

It should come as no surprise that a no deposit free bet amount is usually minimal. For instance, most online sportsbooks will offer a no deposit free bet that ranges from $5 up to a maximum of $10.

Should you win with a no deposit free bet, please note that you won’t be able to cash in your winning immediately either. You will need to wager your winnings 10-15x to meet playthrough requirements.

Deposit match bonus offer

At an online sportsbook, a deposit match bonus mainly works the same way as a deposit bonus at an online casino.

Once you register for a new account and make a deposit, the online sportsbook will match your deposit, usually up to 100%. However, instead of the unachievable 40x wagering requirements at online casinos, sports betting sites will typically feature an easier way to meet playthrough requirements on the deposit match free bet offer.

Most online sportsbooks’ playthrough requirements are only one time. That is fantastic if you want a bonus with feasible wagering requirements that will allow you to cash out in a short time.

Advantages of free bets

The best advantage to claiming free bets at online sportsbooks is you’ll be able to test drive the sportsbook to ensure it’s smooth and reliable before making your initial deposit. You will also discover which sporting events and betting types are available on the sports betting site.

Apart from not having to spend your hard-earned money first, another advantage is you can place a bet absolutely risk-free. Furthermore, even if you do have to spend your money first, you can still be awarded a risk-free bet should you lose.

Last but not least, another advantage is you can prolong your betting experience by increasing your bankroll. Essentially, this allows you to make more bets than usual, which could lead to being more profitable.

Disadvantages of free bets

Although there are several reasons to take advantage of free bets at online sportsbooks, they do come with a handful of disadvantages as well.

For instance, most of the free bets have various terms and conditions that you must meet before you can cash in on your account. These terms and conditions are usually difficult to reach and will cause headaches if you wish to use them to profit on your account.

Apart from the terms and conditions, you will also notice that free bets offer little value or the amount you’ll receive in your account. Most free bet offers tend to range between $5-$10 as a no deposit free bet. If you find a higher offer, you will usually need to make a deposit first to receive the free bet credits in your account.

Also, most free bet offers come with restrictions that we’ll discuss in-depth.

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Restrictions

Every sportsbook promotion, whether it’s a no deposit free bet or a deposit bonus, will have a variety of restrictions you will need to know before you claim the offer.

Unfortunately, this means you will need to comb through the terms and conditions to find out what you can and cannot do with your bonus.

Fortunately, here is the list of typical restrictions to make your free betting life easier on you:

No splitting: Most of the free bet offers at sports betting sites cannot be split in any way. For instance, should you receive a $20 free bet, you will only be able to make a single bet of $20. Also, you are limited to one betting market.

Restricted odds: Free bets are also restricted by odds. Essentially, this means you will need to look for specific odds for your free bet to qualify. Even the best free bet offers require you to place a wager on odds no lower than 1.5 to meet the requirements.

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Maximum win: Most free bet offers have restrictions on the amount you can cash in. For instance, a no deposit free bet offer will have a cap of around $200 that you can cash-in once you meet the playthrough requirements.

50 Free Bet Offers

Time-sensitive: Most free bet offers will be available for a limited time. Once you register for a new account and claim the promotion, it may only be available for seven days before it expires.