Are free bets really free is a question we often get asked. In essence, a free bet should be a bet that you don’t have to pay for but can still profit from – and lots of bookmakers offer these types of bets.
As some free bets come as part of a welcome offer that may require you to bet a deposit to receive them, some people do not think these are free bets. For example, you may be required to deposit and bet £20 to receive a £20 free bet.
You can see why some people don’t consider this a free bet but, if you were going to bet £20 anyway, you will still be getting a £20 free bet to bet on another selection of your choice.
The other type of free bet is sometimes referred to as a no-deposit free bet. These are normally offered by bookmakers to loyal players as an incentive to keep betting with them. However, while these types of free bets are completely free, you will normally have had to make significant deposits or bets to receive them. Therefore, you could argue that these are less free than the welcome free bets, but they’re still a free bet from which you can profit without having to pay a stake.
Do Free Bets Have Wagering Requirements?
Wagering requirements, also known as playthrough requirements, are a term & condition that dictates that a free bet must be wagered an agreed number of times before you can withdraw any winnings from that bet.
For example, if you receive a £10 free bet, you may have to wager it 3x before you can withdraw any winnings from that free bet. When you place your free bet, this will be the first time you have wagered it. Let’s say you place a £10 bet on a horse at 5/1 and it wins. Your account will be credited with £50 winnings, but not the £10 stake from your free bet.
You will then have to place two more £10 bets or, in some cases, any number of bets that total £20, to complete your 3x wagering requirements. If you lose this £20, you will have still made a £30 profit that you can withdraw from your account if you want to, but there is also the possibility that you will win more money from the bets you place to complete the wagering requirements of your free bet.
But not all free bets have wagering requirements attached to them. Many bookmakers offer free bets that you can bet on a selection of your choice and withdraw any winnings from that bet immediately. More and more of the top bookmakers now offer this type of no-wagering free bets.
Do Free Bets Have Terms & Conditions?
Most free bets have a variety of terms & conditions that you must comply with. Welcome free bets are normally reserved for new players that have not held an account with that bookmaker before.
Bets must also comply with odds restrictions. For example, bets must be placed on selections with odds of 1/2 (1.50) or greater. Please note that odds restrictions may differ at different bookmakers.
Some free bet offers are also not available to players that make deposits using stated payment methods. These, again, may differ with different bookmakers.
Many free bets, though not all, also have a time limit in which you must use them. Failure to use them within this time limit normally means you will lose your free bet.
Bookmakers that offer ‘early cashouts’ on bets, will not normally let you use this feature on free bets. Free bets may also not be used to bet on some markets.
Should I Use Free Bets?
Free bets are a perk of betting, and there’s nothing wrong with using free bets providing you treat them as such. You shouldn’t open an account with a bookmaker just to get a free bet. But if you’re opening an account with a bookmaker to make get the best odds about a selection that you are going to bet on anyway, then taking advantage of a free bet offer is a no-brainer.
But don’t squander your free bets on any old selections. Where possible, use your free bets to place bets that you would place real money on even if you didn’t have a free bet. This strategy gives you the best opportunity to maximise your profits and return on investment.
Free bets that you receive from being a loyal member of a betting site should also be used in the same way. Don’t just bet on the next race, save them to bet on a selection that you would have bet on anyway.
What Sports Should I Use Free Bets On?
In the terms and conditions of a free bet, bookmakers will stipulate which sports or markets you can bet on or which ones you can’t. Make sure you follow this to the letter, as not doing so may void your free bet or may not count towards any wagering requirements.
Typical sports you can use a free bet to place a bet on include horse racing, greyhound racing, football, cricket, tennis, golf, basketball, ice hockey, and a variety of other sports and markets. If you already have a successful betting strategy that makes a profit, then stick to this with your free bets. If you don’t, you may want to consider using the advice of a professional tipster.
What Tips Should I Use For My Free Bets?
Here at Betting Gods, we have tipsters that provide professional and profitable tips for a wide variety of sports. We have tipsters that cover UK and Irish horse racing, as well as an award-winning tipster that provides top tips for horse racing in the United States.
If you’re looking to score some profits from your free bets by betting on football, then check out our top football tipsters. Other sports our tipsters offer tips for include golf, basketball, cricket, and tennis.
You’ll find a mix of free tips from our tipsters on the Betting Gods free tips page, while all our tipsters offer affordable monthly subscriptions to their full services. All monthly subscriptions are even covered by the Betting Gods money-back guarantee.
Just remember to check the terms and conditions of any free bets that you have, to make sure that you can use your free bets to bet on the sports your chosen tipster provides tips for.
If you’d like more betting advice, you’ll find hundreds of free-to-read articles on the Betting Gods blog. Happy punting!