When it comes to betting, nothing quite gets us like “FREE Money.” It’s a common strategy used by betting portals on attracting more players in the long run. Even the thought that “If the bets don’t work out, you have nothing to lose” is just liberating. That being said, let dive a little deeper into the context of free betting.
What are Free Bets?
The term simply refers to bets you have made with credit rewarded once you join a betting site. The bonus credit allows you to place bets in a wide variety of markets without risking your own money. In many cases, the free credit doesn’t include the original stake if you win the bet. Hence, you just get the profit amount minus the wager.
Free Bets Vs Real Money Bet
There is a vase difference between the two types of bets, other than what I mentioned earlier regarding the return. Here is an example to understand it better.
|Real Money||$20||+150||$50 (Wager + win)|
|Free Bet||$20||+150||$30 (Profit only)|
Free Bets Vs Bonus Bets
These two terms signify entirely the same thing. Depending on different jurisdictions, the words are used accordingly. Given you are using European sportsbooks, the word “Free Bets” is regularly used. But if you are using a US-based betting portal, the “Bonus Bet” comes into play. In Asian parts, it’s either “Promotional Offers or Bonus Offers.”
How do free bets work?
There are two main ways free bets work. It is either connected to a free sign-up bonus that you earn instantly you log in to a new account. Or else, you will need to get the bonus credit on the first deposit.
For instance, Jeetwin has a 100% Welcome Bonus on a particular slot game. However, there are few conditions you need to follow in regards to getting the free credits. Your first step will be to make a deposit, and depending on the amount you added, you get a 100% Bonus. Let’s say a punter deposit INR1500 as the first deposit; the bonus amount will be INR1500.
Now you have a total of 3000 to wager on the game.
Let’s take a look at bonus offers without deposit. Crickex, the sports exchange website, offers Referral bonuses and Birthday Bonuses. The deposit necessarily doesn’t require you to deposit money. However, there are few stipulations that a punter needs to follow. These bonuses are not your typical bonus; they are helpful if you decide to stay for a long run.
For the Birthday Bonus, you will need to prove the date via proper documents. And for Referral, your friends join the site through the referral link and add the referral code while signing up.
There are many variations to Free Bets. We will discuss them in details.
Also known as Deposit Bonus, this credit is given to players on their first deposit. The bonus is often provided singularly based on the deposit made by punters; it doesn’t need to be the first deposit.
Like every free bet, it comes with a set of conditions that the player needs to follow—one of them being the wagering requirement. The notion behind a wagering requirement is to give the player a challenge. So, if you are applying for a 100% Welcome Bonus, meaning if you deposit $50, you get $50 as free credit.
Let’s say, the wagering requirement is x6 meaning $50 * 6 = $300. To withdraw the winnings, you will need to at least reach the turnover of $300.
Hence, it’s crucial to check the Terms and Conditions of every Free Bets. Every Bonus offers come with their own set of T&C.
Risk-free bets are a little more on the complicated side due to their long set of rules. In the US markets, it is one of the popular welcome offers. The bets come down to getting paid if you are to lose a certain wager.
Suppose you place a bet and win the bet; congratulations. But if you lose the bet, the betting site pays you the loss with a bonus credit or free bet. Let’s say as your first wager, you place a $250 bet on any game and lose it. Then the site offers $250 as a credit amount for you to bet.
Now you place a bet in any team on +5 at –110. If you win this bet, your total profit will be $227.25. The free bet stake, however, will not be added to the overall win. Hence, you are $27.75 short on your first deposit.
How to claim free bets?
This is the easiest part. Choose a bonus you like, go through the stipulations, and follow through step by step. Either you might need to use a code or just make a deposit. However, if you face any difficulties, the above sites like Jeetwin, Crickex offer around-the-clock customer support.