If you are new to sports betting or any form of gambling, you have to learn about free bets and risk-free betting which are usually offered by online betting sites to new users. Free bets are often connected to the first deposits and referred to as bonuses while risk-free bets are promotional offers extended for the punters who may deposit a specific amount of money under the specified period. The basic idea behind both offers is to make new people sign in for new accounts and deposit money. When they win a few bets, it becomes feasible that they will deposit more to place new bets instead of going someplace else.
Why do bookies offer free bets?
Free best, as they sound is an attractive way through which bookmakers lure new people and encourage them to sign in for their service. The more attractive the scheme is, the people deposit more money. In return, the bookmakers offer something according to their guidelines. So, before falling into the term ‘free’ you must always read their offerings carefully and what exactly they offer.
Most of the time, you are allowed to use small bets offered as an opening gift. While some bookmakers make it easy to claim without depositing any initial amount, others may offer against funds you place bets upon. To qualify for free bets, you need to go through the common process followed by most bookmakers:
- Sign-up with the bookmaker and provide them with your details, or as mentioned on the site.
- Register a valid payment method you will follow and deposit the initial amount.
- If the site offers a free bet without a deposit, you can start betting. Or else, deposit an amount and the value may be determined according to the money you have deposited initially.
In most cases, new users are not allowed to place a bet until they deposit a certain amount or when they place a bet on an odd event. This is to encourage betting in the future and back near-certain winners. Whatever the case is, make sure you read all the terms and conditions listed under the offer. The main things to look for include geographical restrictions, playthrough requirements and a money withdrawal system.
How can you use free bets effectively?
Matched betting
Matched betting is used by punters to use bookmakers’ free bets as their best. Matched betting involves the incentives offered by the bookmaker in the form of free bets that guarantees a profit on the outcome. The free bets can also be used to place a bet and then place a counter lay bet with the betting exchange. Matched betting though has a complicated procedure and step which must be followed carefully in order to place bets.
Sports and betting markets
In sports betting markets, you can enjoy regular and small wins from free bets that can potentially build a betting bank. Many bettors aim for a significant win with a small stake. In sports betting, free bets can be used since they have a better track record in terms of form as compared to others with a higher proportion of outside winners.
The match winner market
The match-winner market is the best choice for using free bets. For example, in football matches, this is a three-way market and produces a high strike rate. Tennis and snooker matches involve two players only which increases the opportunity to win using a free bet.
What Are Risk-Free Bets?
The primary intention behind risk-free bets is promotion. With this offer, the bookmaker refunds the wager a certain amount if the wager loses their first real money. The refunds usually come in the form of a free bet or site credit. Risk-free bet attracts new users since they act as a sign-up bonus.
Are risk-free bets worthy?
Just like free bets, risk-free bets prove to be an excellent opportunity to select amidst odds, especially if you are a new user. If you lose the first time, you get a second chance. Moreover, getting an introduction promotion is better than having none. It is, therefore, called a bonus by the betting maker. However, risk-free bets are not completely risk-free and may not be offered if you do not qualify your initial bet amount.
The Bottom Line
Sports bookies and online sites like to lure new people with the help of promises like full refunds on losing wagers. Free-bets and risk-free bets have now become an attractive sign-up advantage used by almost every bookmaker. The only problem with both is that they are often misinterpreted or loosely understood by the betters. The loss or risk further depends on the promotional terms, conditions and odds of the bet placed by new users.