What beginners should know about free bet offers from bookmakers
Free bets in sports betting have not been around for a long time. These offers are incentives pushed by bookies looking to get you signed up and use their website for sports betting. In a congested industry like sports betting, each bookmaker is looking to stand out and attract more customers while at it.
However, free bets differ in terms of stake and what you need to do to qualify for a free bet. From a general perspective, free bets are not really free; you will need to stake some of your own money first to qualify for a free bet. For instance, you need to stake £30 of your own money to get £30 worth of a free bet.
The act of gambling has been in existence for centuries and was only legalized in 1960 in the UK, being updated in 2005. Over time, many bookies have cropped up, and each of them has devised new promotions and offers for new and existing customers to keep them coming back. It is a strategy that lures many clients and seemingly pays off. The free bet offers are indeed appealing to many people, but what value do they have, and how can you, the player, maximize a profit from free bets?
Sports betting for free has never been this convenient. Click on that link to find the best new customer free bet offers and sign-up bonuses from some of the best UK online bookies this year. Here, you gain access to free bet offers and other great offers tailored just for you.
New customer offers
Before delving further, it is essential to note that any proceeds from a free bet are not included in the stake. For instance, if you risk a £20 free bet on a 3/1 lineup, you can only win £60 rather than £70.
New bookies have the best offers to attract new clients. They will advertise attractive sign-up bonuses that include free bets as a reward if you open an account with the bookmaker. The free bets are credited to the client’s account after depositing an initial amount or placing the first bet. In many bookmakers, free bets will only match the stake of the initial bet. However, this is not always the case and often depends on each free bet’s conditions and set terms.
Current customer offers
Once the client has signed up on the website and possibly received the initial free bet offer, they cease being eligible to receive new customer betting offers. However, many bookies have offers that cater to existing customers. Only existing punters can qualify for them.
These bets require the player to place a maximum or minimum stake to qualify for the free bet. Many bookmakers offer cashbacks for lost bets as offers. For instance, if you stake on a horse and it finishes 2nd, you get a percentage of your money back.
As you probably already know, most free bets are only available on the first deposit the player makes. This indicates that they are new members, and these offers expire when the free bet is credited to the punter’s account. The entire concept behind this incentive is that the sportsbook company will register a new player if they deposit, get a free bet, and win. This way, the player will continue wagering in that particular sportsbook instead of heading elsewhere.
Merits and demerits of free bets
The first advantage of free bets is that the player is incentivized. That means they feel like they are not using their own money to play, and therefore, even if the bet goes wrong, the player will not be hurt. However, many players do not put much thought into it. Hence, you might deposit £100 into the account and get £100 worth of a free bet. Before you know it, you have lost the free money as well as your own money.
If you are an experienced player and know what you are doing, you may be lucky to score a few bets, and the bonus will well be worth it. However, many people do not know that there is a reason why this offer exists; many bookies use it to get your information and use it for future spamming.
Conversely, free bets seem fun. However, things may turn real disastrous quickly.
How to claim free offers
If you are new to this, you may not be familiar with claiming the free offers. You can claim these free offers on many websites by using a bonus code or depositing the minimum required amount. On many occasions, the bonus codes are emailed to the user after they complete the registration process. You may also find these codes on the sportsbook’s social media accounts or advertisements.
The minimum deposit can range anywhere from £20-£100.
What are risk-free bets?
Risk-free bets mean that the user can get a 100% refund on the first bet if they lose. This is yet another form of incentive used by bookmakers. However, this type of free bet has more rules and is not always present with betting websites.
For instance, if you stake £500 and lose the bet, you should get another £500 within several days. However, this money is not yet yours. It is considered free bet money, and if you want it back, you must stake another £500 before withdrawing anything.
As a beginner, it is essential to know your way around sportsbooks, what offers to take and which ones to avoid. Good luck placing your next stake!