F Free Bets- what are they?
Yeah sure, free bets (or bonus bets) do sound a bit ironic, but they’re actually popularly used by several casinos, outlets, and bookmakers all over the world. These bets are used either as promotional features which entice new players to a casino’s game; or as rewards for the loyalty and patronage of existing players. A free bet, in a nutshell, is a risk-free feature which allows the player to bet free-of-charge, up to a certain stake. Free bets online are usually offered in online poker or sports betting platforms, while actual casinos offer a point-exchange scheme where a player can use the points he/she has acquired to gain a number of free bets. Whether online or in a real casino, there are various types of free bets for you to choose from.
Choose from numerous different types of free bet offers
Free bets come in all sorts of packages and formats. While there are certainly different terms for each unique offering, here are some of the most popular types to get familiar with:
Match / Match Your Stake
Description: This is possibly the most common form of free bets you’ll encounter. You basically open the game, then place your bet. And the bookmaker “matches” your bet, which makes the stakes double your original bet.
Example: If you place a bet worth $20, the dealer will match this bet with $20- giving you a total stake of $40.
Terms: Typically, match bonus / free bets limit the minimum and maximum amount you can bet.
Free bet series
Description: This is essentially like Match Your Stake but here, the free bets are divided into several individual bets rather than just one bet.
Example: If in Match you get a $20 bonus for your initial $20 bet, a Free Bet Series means that you get four additional $5 bets for your original $20 bet.
Terms: While these bets do not usually restrict the player’s minimum and maximum bets, they often have time restrictions stamped on them. They come at two forms: expiry- which means that the free bet is no longer available past a certain date; and activation- which means that you can only use one of the free bets once they become valid at a certain date. This usually comes at the expiry of the previous free bet as it is less likely that all bets in a series are available all at once.
Initial Deposit Bonus
Description: A lot of platforms used to offer this type of free bet, however, there is only a handful of them who give it out now. This entails a bonus on top of the player’s initial deposit when he/she signed up for the game or platform.
Example: You can easily spot an initial deposit free bet if you see a “%” sign following it. For instance, you get a message saying: “Receive a 50% bonus on your deposit for up to $300.” when you sign up.
Terms: The usual condition for this type of free bet is a minimum number of bets to be made using the initial bonus before you can withdraw the funds.
Winning First Bet
This is a very straightforward format wherein you receive a bonus if you win your first bet. A player is usually awarded a greater bonus the lower their odds were when they placed the bet.
No Lose First Bet
This is a variation of the Winning First Bet which gives the player a bonus equal to the amount of the original bet if he/she loses their first bet. Based on its mechanic, this is also sometimes called the “Second Chance” bonus.
Make the most out of your bonuses!
Free bets are a good way for bookmakers to attract or sustain their players’ interests in the games they offer. These bonuses are offered in abundance online, but it doesn’t mean that you could take them for granted. With the right strategy and awareness, you could utilize free bets to maximize your earnings online. Here are some general tips in dealing with free / bonus bets:
- Pay attention to terms and conditions
As you’ve read throughout this article, free bets also come with the unique terms and conditions in how a player must use them. You should start paying attention at the very first step: signing up in an online betting platform. Take note of various details such as whether the bonus bets are applicable in your country or with your current payment method.
- Check if the free bet comes with a betting limit
A lot of players either win less or lose big because the free bet they thought was in play wasn’t used in their previous bet due to it not reaching the minimum betting requirement, or exceeding the maximum bet. Make sure all your free bets are in play by betting within the required conditions.
- Gather as many bonuses as you can, but be careful!
Because free bets are offered to entice new players or to reward the loyalty of existing ones, it makes sense to keep collecting bonuses from bookmakers as you sign up for new accounts. This could be a great strategy in the long run, but keep in mind that most sign-ups require initial deposits- therefore, make sure you are raking in the rewards of free bets more than the money you keep shelling out.
Free Bets are a double-edged sword that can either make or break your profits online. With the right strategy, patience, and awareness, you could use these bonuses to maximize your earnings.