Quick summary
This article explains what free bets are, how they work, and how to use them effectively to get the most value. You’ll learn the key differences between free bets and bonus bets, explore the most common types of free bets, and get proven strategies to maximize your returns while avoiding common pitfalls.
Confused about free bets and how to benefit from them?
Many bettors are drawn to sportsbook promotions offering “free bets,” only to be frustrated by restrictions and unclear payout rules. Free bets let you place wagers without risking your own money, but understanding their terms is key to getting real value.
This guide explains how free bets work, how they differ from bonus bets, and strategies to make the most of every offer.
What is a free bet?
A free bet is a type of promotion offered by sportsbooks or betting sites where you can place a wager without using your money. Essentially, the bookmaker gives you a set amount to stake on a bet, usually as part of a welcome offer or loyalty reward.
Unlike bonuses, if you win using a free bet, you receive the profit from the wager but not the value of the free bet itself. For example, if you’re given a $20 free bet and place it on odds of 3.0, you’d win $40 in profit, but you won’t get back the $20 stake because it wasn’t your money in the first place.
Free bets often come with terms and conditions such as minimum odds, expiry dates, or restrictions on the markets you can use them on. In short, a free bet is like a “risk-free trial” for betting. You can enjoy the thrill of wagering while minimizing your financial risk, as long as you understand and follow the rules.
Free bets vs. bonuses: What’s the difference?
Sportsbooks often attract new and existing players with promotions, but free bets and bonuses work differently. Here’s a quick breakdown to help you understand the key differences:
Aspect | Free bets | Bonus bets |
|---|---|---|
Definition | A bet offered by the bookmaker that you don’t have to pay for. | A bonus given as credit to place a bet, often requiring a deposit or qualifying bet. |
Stake | The stake is not returned with the winnings. | The stake is usually returned with the winnings, but subject to conditions. |
Usage | Usually for specific events or markets. | Typically usable across a wider range of events. |
Winnings | Winnings from the free bet are paid out minus the stake. | Winnings are typically paid out, including the bonus stake. |
Requirements | Often, no deposit is needed, but qualifying actions are required. | Usually requires a deposit or bet to unlock. |
Availability | Common for sign-ups, special promos. | Frequent in loyalty programs and welcome packages. |
Flexibility | More restrictive. | Often more versatile, but with higher wagering rules. |
Types of free bets
1. Matched free bet
This is one of the most popular offers. The bookmaker matches the amount of your first wager with a free bet. For example, if you place a $20 bet on a team to win, the bookmaker gives you an additional $20 free bet. This effectively doubles your betting power.
2. Risk-free bet
In this case, you place a bet with your money, and if you lose, the bookmaker refunds you with a free bet of equal value. For instance, if you wager $25 and lose, you get a $25 free bet back to try again. It’s like having a safety net.
3. No-deposit free bet
This type doesn’t require you to deposit any money before betting. Bookmakers sometimes offer this to attract new customers. For example, when you sign up, you might instantly receive a $10 free bet credited to your account.
4. Stake-not-returned (SNR) free bet
With this option, if your free bet wins, you only get the profit, not the stake itself. Suppose you use a $20 free bet on odds of 3.0 and it wins; you’ll receive $40 in profit, but not the original $20 stake.
5. Stake-returned free bet
Less common but more generous, this type returns both your profit and the stake. For example, placing a $20 free bet at odds of 3.0 would return $60 in total ($40 profit + $20 stake).
How to maximize the value of free bets
- Choose high-value odds: Opt for higher odds to increase the potential payout, as free bets don’t return the stake.
- Understand the terms and conditions: Carefully read the terms to ensure you can use the free bet on your preferred markets.
- Split across multiple free bets (If allowed): Some sportsbooks let you divide your free bet into smaller portions. For instance, if you have a $20 free bet, you might place $10 on one outcome and $10 on another. This reduces risk while still giving you a chance at good returns.
Time your bet wisely: Don’t feel pressured to use the free bet immediately. Often, promotions last for a week or more. Waiting for a strong opportunity, such as a major sporting event or a favorable odds shift, can maximize your potential returns.
- Combine free bets with deposit bonuses: Look for promotions offering both free bets and deposit bonuses to increase your betting bankroll.
- Track your free bet winnings and losses: Keep a record of your results to analyze and refine your betting strategies.
Conclusion
Free bets help people enjoy betting with little to no financial risk, offering a "trial" experience for new users. While they come with conditions, they provide a valuable opportunity to test the waters.
By understanding how free bets work and learning strategies to maximize them, bettors can enjoy greater value and make more informed, rewarding decisions.
Frequently asked questions
Can I withdraw my winnings from a free bet?
Yes, you can withdraw your winnings from a free bet, but you typically cannot withdraw the original stake. The free bet’s value is not returned.
Do free bets expire?
Yes, free bets often come with an expiration date. Be sure to use them within the specified timeframe to avoid losing them.
What should I do if my free bet hasn’t been credited?
Make sure you’ve met all promotion criteria, including opting in and placing the qualifying wager within any specified timeframe.
Do I need to make a deposit to claim a free bet?
Not always. Some offers require a deposit or qualifying wager, while no-deposit free bets are given just for signing up.
Can I use a free bet in a parlay (accumulator)?
Yes, many sportsbooks allow free bets to be used on parlays, but check the terms since some restrict them to single bets.