When betting online, you have to look for betting offers such as free bets. There are different types of free bets, and we will discuss all of them. To begin with, you need to know what free bets are.
Fact-checked & Updated on 25th June 2022 by Ushan Arya Industry Researcher.
Published on 23rd February 2022.
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What are Free Bets?
Free bets are extra bets added to your account. You will receive a specific amount to spend on the bet, and that amount is immediately added to your account. To claim the free bet, you need to make an investment first. You have to keep in mind that there are terms and conditions attached to free bets.
Free bets are categorized into the following:
- Match bet – This type of free bet matches the value of your bet and so the name match bet. You need to place a bet with your own cash, and you will be rewarded with a bet, although there is a maximum amount.
- No deposit free bet – You don’t need to make a deposit to activate the free bet. However, this type of free bet is only in small amounts and comes with some restrictions. Only a few online gambling platforms offer a no deposit free bet.
- Risk-free bet – It is offered as a part of the welcome bonus. If you place a bet and your bet fails, you will get a refund in the form of free bets. It usually won’t require wagering requirements.
Understanding how Free Bets work
Free bets offered by online gambling sites work the same way regardless of the betting sites. The terms and conditions are similar too. To understand how free bets work, read the following information:
- Create a fresh deposit, or you can place a bet.
- Key in the correct bonus code for gambling sites that require a bonus code.
- Claim the offering (for some gambling sites).
- Wait for the free bet to register in your account.
The steps are pretty easy, right? However, you have to keep in mind that frees don’t always come for free. There are terms and conditions that apply. For example, not all sports and matches are eligible for free bets, so you have to choose the specified sport to be eligible for the free bets. Some will ask you to stick to a particular type of bet to activate free bets.
A closer look at the terms and conditions of Free Bets
Although the terms and conditions for free bets are similar in one gambling site to another, certain conditions that a particular betting site imposes set it apart from the rest.
A free bet has a specific value. Some would state that the maximum value of a free bet will be Rs. 1,500 regardless of the amount of bet. It does not matter whether your bet amount is Rs. 5,000 or Rs 10 000; the maximum free bet will still be the same.
There is a minimum odd requirement to be eligible for free bets. It usually starts with 1.50 or higher. However, some betting sites would require you to place a bet at an odds of 2.00. therefore, it is of utmost importance to check beforehand the odds requirement.
Betting type and market
Another important thing to remember is that free bets can only be activated for a particular sport, betting type, and market. You have to place a single bet or place an accumulator bet.
Free bets are only valid for a certain period of time. If they pass the validity period, you can no longer use it. The validity period could range from 24 hours to seven days. If it expires, there is no way for you to use it.
What a Free Bet Offer Looks Like?
If you are curious as to what a free bet looks like, here’s an example:
Select a sport and place a bet of Rs. 1,000 at odds of 1.5 to receive a free bet equivalent to Rs. 1,000. It should only be used for a single bet and not for multiple bets. It should be used within seven days. Keep in mind that the stake is not included in the returns. If you are fortunate to end up in a winning bet, you will only get the net winnings.
Where can I claim the Free Bet?
You have the option to claim the free bet or not. The question is when to claim the free bet. Free bets vary in terms of amount and terms and conditions, but conditions and terms are attached to them. Therefore, it is important to know when is the perfect time to avail free bets. If the free bets have complex and strict conditions, they are not worth the effort. Therefore, it would be a smart decision not to claim it. On the other hand, if you are the type of a person who wants to avail of free bets, you can do so provided to check the terms and conditions. There are online betting platforms that impose fair and generous terms and conditions.
What to look for when claiming Free Bets?
✅ There should be reasonable betting odds before placing an initial bet, which is typically around 1.5 or higher.
✅ The free bet should not be dependent on winning and losing the bet.
✅ Claim the free bets if they have fewer restrictions.
✅ Some free bets have no wagering requirements attached to them.
✅ The winnings generated from free bets should not be capped.
The factors we mentioned above are some of the things you should look for when free bets are concerned. Of course, it is impossible to check all the boxes for these things, but at least look for the majority of these factors prior to claiming the free bets.
If the free bets are too restrictive, it would be impractical to claim them. Most of all, there should be a level of flexibility, and one piece of evidence is that winnings should not be capped. The same thing goes for the wagering requirements.
Although we mentioned all important factors when deciding whether to claim the free bets or not, at the end of the day, it is still your personal discretion whether to claim the free bets.