free bets

Modern online sports betting allows you to choose from an impressive range of bonuses. It is true that not all of them are that appealing, but you can usually find at least a couple of deals that are worth it, such as free bets.

These types of options have been around for many years and people have learnt they offer excellent advantages. With that said, many people are not exactly sure how to use them or what they will get, so it's time to learn everything in this article.

What exactly are free bets?

If you check a given sports betting site's promo section, you will find at least a couple of propositions. Some of them will be the free bets offers, which are bonuses that allow you to place a bet on something without risking your own money. If that bet wins, you will most likely get the winnings minus the stake itself (the free bet amount). However, this is not always the case, as some bookmakers may even let you keep it.

There are many different types of free bets that you can come across. We'd like to start with the matched free bets, which are bonuses that will match your deposit or first bet with a free bet of equal value. In other words, you must make a transaction, and the bookie will allow you to withdraw an amount equal to that transaction.

Aside from that, some bookmakers also offer free bets with no deposit required. They are more desirable, and you can usually get them after signing up. In some cases, you may also need to verify your account or download and install an app.

Lastly, we have the reload or loyalty free bets. These things are given to existing customers at special events or promotions. Some free bets will be reserved for the most active players, while others will be available to all players.

The main difference between free bets and most other bonuses is that the free bets are single-use tokens. Moreover, most of them do not have any rollover requirements, unlike other offers, which typically have this requirement.

The Pros of Using Free Bets

Now that you know how free bets work, it is time to check some of the advantages and disadvantages. Starting with the positives, free bets are known for one big thing - risk reduction. Due to how they work, you can bet without risking your own funds. This makes them ideal for beginners, those testing the waters, and individuals looking to explore something new.

Another advantage of the free bets is that they allow you to explore. They are ideal for trying new markets without fear of losing money.

Free bets also act as capital for bettors because they allow them more chances to win real money. They are also accessible to everyone and are ideal for value hunting. In other words, people can use them in strategic betting approaches to maximise profits.

Lastly, free bets also have a low entry requirement. Aside from those that come as no-deposit bonuses, the promotions that require a transaction will usually require a small qualifying deposit to be effective. This can often be as low as $5 (£3.7).

Cons of Free Bets

Although free bets have numerous advantages, they are not without their drawbacks. People who wish to use them must be aware that there are also many drawbacks, starting with the fact that the stake itself is usually not returned. In other words, if you win something, you will get the winnings minus the free bet amount.

Another drawback that clients have to consider is the wagering restrictions. Most free bet bonuses come with rollover requirements that people have to complete before attempting to cash out. Any withdrawal attempts before meeting this rule will result in losing the bonus.

Limited validity is another point to consider. Many of the free bets will only be available for a few days, so you have to use them right away. They also have a variety of market and odds restrictions, so you have to be careful which markets you bet on.

Lastly, many of the free bets are not truly risk-free. Most of the classic risk-free bets will refund your stake in bonus credit instead of cash. This limits your flexibility and it's something to keep in mind.

The Key Terms and Conditions to Watch

Free bets might be appealing, but it does not mean you should use them right away. We recommend taking a step back to check all of the key rules you need to be aware, starting with the minimum odds requirements. This proposal always has this condition because it will limit the markets you can choose from.

The export date is another essential rule you should be aware of. As mentioned, most free bets will be at your disposal for 7-14 days, so you have to meet all requirements within that time frame.

The Wagering requirements are next on the list because they show you how many times you need to use your winnings before withdrawing them. We also have to point out the payment method restrictions because some offers exclude deposits made via PayPal, Skrill or Neteller.

Free Bet Strategies

People wishing to maximise their free bets must adopt a smart approach rather than wagering blindly. There are a few tips that we believe can make a difference, and the first one is related to betting on higher odds (also known as value betting).

Free spins usually shine when betting on longer odds rather than favourites. Since you are not risking your own money, aiming for higher-value opportunities makes sense.

The second tip we'd like to share is related to matched betting. You may have heard of it, but if you haven't, this is when betting on all outcomes of an event using free bets and exchange sites. The process is simple - you have to use your free bet on one outcome with the bookmaker. Once ready, place a lay bet on a betting exchange to cover the opposite outcome. The end result is a guaranteed profit regardless of what happens. Just keep in mind that many bookmakers do not allow this, so you could get in trouble.

Hedging with real money is another area to focus on. This allows you to combine your free bet with a real-money wager on the opposite side. You can also target promotions & big events. These things usually come with higher odds than usual.

Conclusion

If we have to sum up, free bets can be excellent options for online betting, as long as you know how to use them properly. This is often easier said than done, but if you learn the basics, you can avoid most of the costly mistakes and enjoy everything these offers have to give.