Free bets are one of the more commonly found bonuses available at online betting venues. Typically, these will be found within the sportsbook section of a website, but they can also be found in live casino sections too.
They are a useful way by which you can bet on your favourite sporting event or live dealer game without the need to wager your own money. If you are based in The UK you can take a look at Betpal.com which is dedicated to explaining all about how these free bets offers work and how they can be claimed so you can get out there and start enjoying betting for free today.
What Types of Free Bets are there?
There are two varieties of free bets you can find at online betting venues, these are:
The way a free bet works is pretty straight forward with the name being a big giveaway for how it works. Essentially, it will give you the chance to place a bet using funds that are provided by the casino as opposed to the value coming out of your account balance.
Either they will be given to you after you make your first deposit, or can also be given to you just for registering your account with your new online betting site. They will either be given to you in the form of a stand-alone free bet, whereby you can place just one bet up to a specified amount, or you could claim A Value of free bets.
In the case of the latter, what will happen is the bookmaker will say you have $50 worth of free bets, and you can spread them out over a variety of different sporting events or live casino games. However, the same principle remains and that all these funds will not come from your account balance.
A risk-free bet uses a similar concept because they will require you to have placed a bet first before the bet comes into play. When you place this bet, which will usually be limited up to a certain amount, the event you have placed this on will then pan out.
Once the bet has been settled, if the bet hasn’t come home, rather than losing that money you put down to wager it, the amount will be refunded to you. As such, you have come off the bet with the same amount that you lost which you can bet again. Thus there is no risk involved.
However, if the bet does come home then the risk-free bet will not be activated. Instead, you will simply claim the winnings as they would have payout anyway. As such, it ensures that in the worst-case scenario you have still not lost any of the funds you spent, while in the best case scenario you would be taken home the payout as usual.
How to Claim a Free Bet?
The method by which to claim a free bet is, like their concept, very easy to comprehend but it can vary based on the type of deal. A lot of the free bet deals will be in the form of a welcome bonus so this is the most useful method to understand. If it is a no deposit free bet, then you will need to simply register your details and, if it is required, opt-in to the free bet bonus. This is super simple.
However, in the case of a standard free bet, then this will usually require you meet the sportsbook or live casinos minimum deposit once you have signed in to claim it. Sometimes a deal may offer you a higher number of free bets or higher amounts, reflective of the value of your deposit. While some may also give you more free bets for each of your first couple of deposits to your site. This will be the process for most welcome bonus free bets.
However, if there is a free bet deal after the initial welcome deal then it can vary greatly. One of the most common occurrences is that free bets will be given on certain sports. For example, some sportsbook might give you a free bet to use on the final of a football event, such as the Champions League Final. This will then only be eligible to be used on these events. This is just one example of a free bet, and they can be offered for any number of reasons, or just given to you randomly as a reward for being a loyal customer to their site or for achieving something on their site.
The best free bet sports betting sites will offer free bets across the calendar year on a regular basis as a way to give back to their clientele. Other betting venues may be a bit more reserved in this area. This is why it is important to always check the online betting sites promotions section prior to signing up and committing to their service.
Why Should I Use Free Bets?
The reason for using free bets is simply that is gives you an extra chance at glory without needing to spend so much money. When it comes to free bets, they essentially give you the option to benefit from more profit with less concern about the bet coming home.
As such, if you lose, it is not such a big deal, as you haven't lost any money, while if you win, it is just a nice extra sum on top of the funds. This is particularly true if you haven’t had to invest any money to claim in the no deposit free bet deal, or if the number of free bets is significantly higher than the deposit you had to make to claim it. For example, being given $50 worth of free bets for a $10 deposit, will be mean four times the chance to win without concern as opposed to just one.
Risk-free bets are beneficial for exactly the same reason. If you lose while a risk-free bet is in play, then that concern about losing your money is eradicated as you are destined to get it back anyway, even in the worst-case scenario. While if you win, maybe you have spent the same and won the same regardless, so you will still be contented with the result while also having been able to benefit from peace of mind and could relax while the action unfolds.
Odds and Limits of Free Bets
Before you go out into the world of sport betting websites and start making use of the many free bets on offer, you should know a few things concerning odds and limits imposed on free bets. When it comes to odds, for example, there will usually be a set minimum odd imposed on the free bets. This means that you cannot just bet on match-ups that are a “sure-thing” and there still needs to be some level of risk involved when you are using free bets.
Another thing that will quite often be in place with free bets is the fact that there will be limits on the amount you can win. As such, if you were to place a free bet with the limits being $1000 then it will mean that even if the odds and bet you have put in place exceed that amount that you will not be able to actually claim that.
Also, like any other bonuses, you must also get wagering requirements attached (this is a requirement from the UKGC) or any number of other commons T&Cs which you should always be aware of before you claim them.