FREE BETS: What They Are and How They Work
Lina Almans
12 May 2023
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Free Bet it is…
a type of promotion that is offered by bookies to entice new customers to sign up for their services.
Curious about free bets and how they work? They’re a nifty way for bookies to get new customers in the door. With free bets, you get to place a wager on an event without risking any of your own cash. But what exactly are they, and how do they work?
Essentially, a free bet allows you to place a wager on an event without risking any of your own money. If your bet is successful, you’ll receive a payout, but if you lose, you won’t be out of pocket.
Best Bookmakers with Free Bets
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How Do Free Bets Work?
So, how do free bets work? It’s simple: the bookmaker credits the customer with a virtual amount that they can bet on without any risk. If the player wins, they get to keep the profit from the free bet (while the bonus amount itself is subtracted).
Let’s say a bookie offers a free bet bonus of $50.
If you win, you get to keep the winnings, but not the original stake. If you lose, the bookie covers the cost of the bet, so you don’t lose any of your own money.
Free Bets: Common Rules and Requirements
- Free bets cannot be split up and must be used in full for a single wager
- Often there is a minimum odds requirement that the bonus bet must meet
If the free bet wins, the amount of the free bet will be subtracted from the total winnings, and only the net profit will be paid out to the bettor. If the free bet loses, you will not owe the bookmaker.
Also, bookmakers limit the time it takes to wager a free bet. Usually it is from two weeks to a month.
Benefits of Free Bets
Overall, there are several benefits of using free bets: risk-free betting; сhance to try out a new bookie, opportunity to try a new betting strategy; plus, because of increased competition among bookies, bonuses are becoming more generous.