Free bet is, as its name suggests, a free bet – a gift given to new and existing customers from the bookmakers. Simply enough, the bookmaker provides an amount to your account which you can use in betting. If the bet wins, the entire amount is credited to your account, but if the bet loses then you will not lose any of your own money (only the amount that has already been given to you by the bookmaker).
In most cases, free bets come with a number of terms and conditions and there are rules for getting a free bet and for using it. So, before using a free bet it is important to carefully go through these, as they will indicate issues such as the valid period, the odds’ restrictions, the number of bets or the amount that should be wagered to qualify for a free bet. Note that a free bet is more of a reward for a certain level of activity and less of a classic ‘gift’.
Amongst the many different free bets, the most popular ones are: the welcome free bet, the free bet for the first bet, the free bet for installing the application, for replenishing the account, for loyalty (bringing in a new customer or making a certain number of bets) and the promotional free bet. Each of them has its own specifics that must be taken into account.
Welcome free bets are quite rare and they are offered exclusively to new customers. You don’t need to make any deposit to place a bet – instead the bookmaker credits your account with a certain amount, which you use for betting. However, you can’t withdraw the winnings (in the case the bet wins) without first making a deposit. It sounds rather odd, but these are the rules – the bookmaker must check the legality of your payment method. Also, the welcome free bets are usually valid for a very limited period, so you need to use them quickly.
Free bets for replenishment of the account. This is very straightforward and simple – you make a deposit in your account and the bookmaker credits your account with more money. This works for both new and existing customers. Depending on the case, you can get from half of the amount up to several times your deposit as a gift. Of course, here you can’t withdraw this money immediately – in fact, the larger the free bet amount the more difficult it is to win back and withdraw it. Sometimes there are specific conditions to be met – for example to place a certain number of bets, each for the amount of the first deposit in order to be able to receive it.
Free bet for the first bet. Here, you make a deposit, place the first bet and the bookmaker gives you the chance to place another bet without risking your own money. But there are various restrictions here as well.
Free bet for loyalty. Besides attracting new customers, it is important for bookmakers to retain existing customers and encourage them to play. So, loyal customers are entitled to free betting when for example a certain number of bets are placed, a certain amount is deposited or for bringing in a new customer.
Promotional free bet. This bet is provided when you engage in some form of promotion, when for example you install the bookmaker’s application, or when you repost its ad on social media. Essentially, the free bet is given in exchange for some specific activity.