At best, free sports betting and playing the horses is a risky endeavor. After all, that’s why they call it gambling. In order to bet on sports and horses successfully, bettors need to be on the lookout for every possible advantage they can get. By far, the best advantage one can get is the gift of free bets from their online bookmaker.
Type of Free Bets
For anyone who is new to the world of online sports betting, it would benefit them to know there are three basic types of free bet offers. The most popular of these offers is the online betting sign up offers. Next, a website member that has established a betting relationship might get a chance for a intermittent free bet offer on a specific market or event. The third free bet possibility comes in the form of a full rebate on a losing bet. For all intents and purposes, it’s also considered a type of free bet.
Sign Up Offers
In a highly competitive online bookmaking market, bookmakers are fiercely competing for new customers. Based on current trends, it has become clear that sports bettor have a great desire for online betting sign up offers. That’s exactly what essentially every online bookmaker puts on the table for new customers. Most, if not all, sign up offers are tied to one of two things: bonus bets based on the customer’s first deposit or their first real cash wager. The bonus bet offer is usually stated as a percentage of one of those two actions.
An example of a typical sign up free bet offer would be advertised as follows: XYZ sports book is offering a 100% matching free bet based on the customer’s first deposit not to exceed a maximum bonus amount of $100. That means that once the new customer signs up for a new account and makes a minimum first deposit of $10, they will receive a free bet not to exceed the $100 amount.
Intermittent Free Bet Offers
Sometimes, online bookmakers will try to motivate existing customers to make reload bonuses or wagers on a special event or game. This is usually accomplished by sending a text or email to the customer with the terms of the offer. If the offer is based on a reload bonus, it acts in the same way as a sign up offer. If it’s to stir up action on a specific market or team, all the player has to is pick a side, place the bet and hope they guessed right for the winnings.
Bet Refunds
Another way online bookmakers create action on a specific market or game is to offer a full rebate on a losing bets mage on that market or game. If the better is allowed to place the wager with no risk of losing, they have effectively been given the opportunity to make a free bet.
Terms and Conditions
Unfortunately, all free bet offers come with strings attached. These strings are referred to as terms and conditions. Terms and conditions are specific actions a customer has to take with their free bets in order to turn them into real cash that can be withdrawn from their wagering account.
The two most restrictive terms and conditions revolve around how the free bet monies can be wagered and something called a wagering requirement. A wagering requirement in the number of times the winnings from a bonus bet amount has to be wagered or churned before it becomes eligible to be withdrawn. Example: the better wins $100 from a bonus bet that carries a wagering requirement of 3-times or 3X. That means they have to make $300 ($100 x 3) in extra bets before they can withdraw any remaining bonus related monies.
