Free Bets – What are they and how do they work?
When you enter the world of online betting, you will hear about free bets sooner rather than later. They are an incentive offered by many bookmakers to attract new players or reward loyalty. Here we’ll tell you the most important aspects of what free bets are.
What are Free Bets?
Well, as the name would suggest, free bets are just that: a bet you can place with what amounts to free money. In other words, you receive a bet that has a certain monetary value and can place it on selections available at the bookmaker.
That’s a straightforward explanation. However, it is not as easy as all that. There are conditions attached to free bets.
There are different types of free bets as well:
- Match bet – This essentially matches the value (up to a specified amount) of your own bet and gives you that same amount in bonus funds to play with.
- No deposit free bet – Here you get a small amount on a free bet you can use on a wide variety of selections without the need for a prior deposit or bet of your own. It’s a rare offer and one that has a lot of conditions.
- Rizk free bet – Another option would be a free bet you may receive if your own bet fails. For instance, you place a bet of ₹500 on an eligible selection (minimum odds required) and in case you lose that bet, you receive a free bet of the same amount you lost (once again, the maximum amount you can receive is specified).
It is important to note that free bets always have a set value that may be anywhere between ₹500 and ₹2,000 – rarely more than that.
How do they work?
Whatever type of free bet you can find, they essentially all work the same. Even the terms and conditions are fairly similar, though they may vary in small details.
Most of the time, you will either have to make a deposit or place a bet of a certain value and specified odds before you can claim your free bet. The free bet also has a maximum specified value. Sometimes your bet needs to win in order for you to claim the free bet. Other times it is simply a match bet, meaning you get a free bet with the same value of your initial bet regardless of the outcome of your bet.
It is also possible that you only receive a free bet in case your bet lost.
You will usually receive your free bet after your own bet has been settled. The free bet is then available in the rewards section of your account on the betting site. You will need to accept it, meaning you also accept the terms and conditions attached to it. And then you can use it for a new bet according to the terms laid out.
Terms and conditions for Free Bets
We’ve mentioned them a few times now and it’s time we give you a few more details on the possible terms you could face when dealing with free bets. This is important because some of those terms are the major downsides that you need to consider if you want to claim a free bet offer.
No matter the type of free bet you can find, there are always conditions attached. Either there is a minimum deposit you need to make or a minimum bet on minimum odds. If you find a no-deposit free bet, you will usually only get a small free bet such as ₹500 or maybe even less.
A typical example would be a free bet worth ₹1,000 which you can claim after making a bet with your own funds of ₹1,000 on a selection of your choice but with minimum odds of 1.5 or higher. Sometimes the odds can be 1.8 or even 2.0 or higher.
In other words, you are limited by the betting amount and by the odds and may have to choose a selection that you would otherwise deem unsuccessful in order to claim some so-called free cash.
Keep in mind that the likelihood of placing a successful bet under such circumstances is small.
Usually, receiving the free bet is not attached to the outcome of your initial bet – unless the terms specifically state that you only get a free bet in case your selection loses.
Whatever the case may be, let’s assume you received a free bet of ₹1,000. Often there are no restrictions as to which market you can choose to bet on. Once again, though, the offer could be specific to a particular sport or tournament, in which case you only have limited choice of markets to choose from.
But if we assume that you can choose any market, you have other restrictions to consider. Free bets will almost always need to be used in one bet. Meaning you can’t just bet ₹500 on two different selections. You will have to find something to bet the full ₹1,000 on instead. Also, once again you are likely going to have to choose odds of 1.5 or higher.
Mind you, fair offers don’t place such restrictions on free bets, and we have seen free bet offers that don’t require you to choose selections with unfavorable odds.
Finally, should your selection end up winning, the free bet stake will not be part of your returns. You will only receive the net wins from your bet. And those may even be capped at a certain amount. You could even find yourself in a situation where you have to wager the wins from a free bet between one to five times before a withdrawal is possible.
Most of the time you will find terms attached to free bets such as the ones we have given as an example. We’re simplifying things a little and there are often further conditions attached to free bets. But these are the ones you will almost always encounter and therefore need to consider before claiming a free bet offer.
Should you make use of Free Bets?
There is no straightforward answer to this question because it very much depends on the kind of offer you are looking at. We have seen some generous and genuine free bet offers that we would have happily used ourselves if we had been offered to do so.
We would recommend you claim a free bet under the following circumstances:
- You don’t need to place a bet with unreasonable odds (2.0 or higher) as a condition to receive the free bet
- The free bet is not dependent on your win or loss of your initial bet
- The free bet is not restricted by unreasonable odds either
- You don’t have to wager the winnings from your free bet and the free bet winnings are not capped
Offers like that exist and if you find one (or we find one and introduce it to you), there’s no reason not to claim it. You should always consider the effort you need to put in (in terms of wagering your own money to receive some ‘free’ money) against the possible gain when claiming a free bet.
If you are required to bet the equivalent of ₹10,000 just to receive a ₹1,000 free bet, it is usually not worth it. So, do the math and if it is not in your favor, you’re better off not claiming a free bet.