If you’re familiar with sports betting, then you must be aware of the different kinds of bonuses offered by online bookmakers to punters. Some of these bonuses are in the form of free bets. In order to lure new customers, many betting providers offer free bets to sports bettors. In this article, we will take a detailed look at different types of free bets.
What are Free Bets?
You get a few dollars offered by the betting provider, which you may place without own risk in the form of a free bet. You can usually choose the games yourself, but conditions such as minimum odds or the type of bet can be determined by the betting provider. However, this varies from bookmaker to bookmaker and can be found in the respective terms and conditions for the free bet. Mostly, it is also the case that only winnings are credited and the stake is forfeited. But even here, the betting sites act individually. Free bets are ideal for taking a higher risk and playing at higher odds. After all, you have nothing to lose.
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Different Types of Free Bets
Free bets are a nice bonus offer from online bookmakers that sports bettors enjoy. There are different types of free bets, which you receive for various reasons. We will shed some light on this and give you a brief overview of the different types.
The Classic Variant
The classic variant of the free bet is usually given to you via a bonus code that you have to enter. In some cases, it is also deposited directly by the betting provider in the corresponding area of your account. Classic free bets can also be awarded for certain sporting events. Since it is free credit, this is usually only $5 to $10. But even that can be useful if you are successful with the free bet.
Free bets without deposit
In this type, you get a free bet without deposit. This has a great advantage that you do not have to use your own capital and can still place a bet. Free bets without deposit usually have only a minor monetary value and if you win, many betting providers retain the stake. But that’s not a big deal, because the winnings will be credited to your betting account.
Free bets with deposit
Some online bookmakers give you with an additional incentive to make a deposit with them. In turn, you get free bets. For this, you have to make a deposit and then get a free bet credited on top. Mostly, the providers define a minimum amount that must be transferred to activate the free bet. The betting site also determines a few turnover conditions to which the free bet is tied. Detailed information is available on the bookmaker.
Free bets in the form of cashback are nice extras that are usually offered on certain events. For example, this can be a special soccer game or the Super Bowl. However, the games eligible for the cashback promotion are announced by the sports betting providers on their websites beforehand. If you bet on these matches, you will receive a percentage of your stake back in the event of a loss. You can then use this in the form of a free bet. For example, if you bet $100 on a 30% cashback bet and lose, you will receive a free value worth $30.
For Live Betting
Live bets are offered around the clock. Some sports betting providers award occasional free bets that are only valid for live bets. Additionally, sometimes you get a free bet the other way around, if you place a live bet on a certain event. Usually, the bookmakers announce such promotions in advance, so that you do not miss them.
High Roller Bonus
The High Roller Bonus is offered rather rarely and is mainly aimed at players who bet on sports professionally. They play with high stakes and are rewarded with the High Roller Bonus. To get it, you have to place a given amount of money in bets within a certain time. However, we advise you to be especially careful here and not to place as many bets as possible because this can quickly lead to high losses.
As a Welcome Gift
In addition to the obligatory deposit bonus on your first deposit, some betting sites add an additional free bet on top when you open a new betting account with them. Often, providers advertise with such promotions at the start of major sporting events, such as the start of the Premier League or an important Tennis tournament like the US Open. This bonus is also tied to certain terms and conditions, which are set by the online bookmaker. That’s not really a big deal, because you’ll still be happy to take a free bet.
So, these are the most common types of free bets. When you get right down to it, free bets offer a lot of value because you get extra credit for free that you can use for your sports bets. The only catch is that free bets, like other bonus offers, are tied to turnover requirements that have to be met. Besides, in many cases only winnings from free bets are credited to the betting account, while the stake is forfeited. Also, a winnings cap is set by most online bookmakers to protect against excessive losses. But despite these restrictions, every punter is happy to receive a free bet anytime.