What Are Free Bets
The main purpose of offering free bets is to attract business in the form of new accounts. This means that the majority of free bets are only available to new customers and do not apply for existing account holders. The leading bookmaking companies advertise their free bets in publications and newspapers but some will invest further and make potential customers aware of free bets through television advertising campaigns.
Manchester United are 1/1 at Bet365 to keep a clean sheet against Tranmere in the FA Cup.
Odds Correct at 00:01 on 26-01-2020 and are subject to change.
How to claim a Free Bet
A new customer opens an account with a bookmaker and as a reward for doing that receives a free bet. This may come in the form of receiving stake money to place a bet without any risk of losing or another type of concession. The common feature of any free bet or concession is that the customer is allowed to place a wager and if that is a losing wager the customer is not liable for any losses.
If money is returned in the form of a winning free bet this does not include the stake money. That means that if a bettor uses a £10 Free Bet to bet on a 3/1 chance that wins he receives £30 in winnings not £40. Clearly if the returns from a free bet included the stake money the bookmaker would be giving away more than is commercially viable.
Most free bets have a time limit which means that the new customer has only until a certain date to use a free bet. For example, if a customer qualifies for a free bet he may only have 30 days from the date of qualifying to actually using the bet. After this date the customer is no longer able to use the free bet and qualification for such a concession no longer applies.
The qualification period for a free bet only applies once the qualifying bet has been settled. For example, if a company offers a free bet associated with bets on the top scorer in the Premier League the free bet qualifying period will only begin once bets on this event have been settled at the end of the season.
The Thinking Behind Free Bets
Virtually every bookmaker offers free bets to new account holders. Rarely you might see offers for existing customers and these are intended to reward loyalty and prevent bettors from taking their custom elsewhere.
Online bookmaking is now a very competitive business. Before the onset of the internet the UK bookmaking market was dominated by three large firms,
Modern technology has now made it relatively easy to set up a website for taking bets.
As with most internet businesses, online gambling is now a global concern. Online betting is still dominated by firms that have their origins in the UK but many firms have entered the market from Europe and more further afield. The range of sports and markets on offer is now much more substantial than before the onset of online gaming.
Bookmaking firms now also compete in the area of in-running or live betting. This is betting on an event once it has started and is particularly popular with football. There seems no limit to the ingenuity of bookmakers in providing live betting odds for an increasing number of sports and markets.
It would be probably difficult to accurately assess the number of online bookmakers on the internet. Using a search engine with the term ‘online bookmaker’ would produce many pages of results. There are now many websites that produce bookmaker reviews. Sites are judged in terms of usability, scope of bets and quality of customer service.
In any review, the free bets that are available at a particular time are listed and assessed. Regular free bets are now a substantial selling point for online bookmakers and that is why all of them offer some type of incentive for bettors to open accounts with them.
Types of free bet
Across the whole range of free bets there are generally four types and these will be explained in more detail in further articles.
Simply put these concessions come in the form of:
- Matched free bets
- No deposit free bets
- Formatted free bets
- Qualifying free bets
The various types of free bets have different features and qualifying criteria. Due to the nature of the offers some free bets are more attractive than others. It is quite rare to come across a pure free bet when a customer receives an amount of money to stake without any potential loss.
Indeed the qualifying procedure behind some free bets is so stringent that very few customers can take advantage of the concessions. These offers are no more than marketing ploys and in some cases they can be counter-productive. The bookmaking companies are obviously very careful to describe the rules in their Terms and Conditions but the finer details are not highlighted in their adverts.
- What are Free Bets
- Matched Free Bets
- No Deposit Free Bets
- Formatted Free Bets
- Qualifying Free Bets
- Free Bets Glossary
- How to Win Betting on Football
- How to Win Betting on Racing
- How to Win Betting on Tennis
- How to Win Betting on Golf
- How to Win Betting on Cricket
- How to Win Betting on Darts
- How to Win Betting on Snooker
- Sports Betting Tipping System
- In-Play and Pre-Match Tennis Betting
- Live Betting on Football
- Worlds Biggest Gamblers
- Week in Sport Betting Preview 27 January
- Week in Sport Betting Preview 20 January
- Week in Sport Betting Preview 13 January
- Week in Sport Betting Preview
- Week in Sport Betting Preview:
- South Africa vs England 1st Test 26th - 30th December
- Irish Horse Racing Boxing Day Preview
New 888sport customers betting £10 at minimum odds of 1.5 (1/2) on UFC can receive a total of £40 in free bets valid for seven days.
This Bet365 offer gives you the option of taking an enhanced price on the full time result of a game for selected matches only applies to games being played in the English competitions, Champions League and Europa League.
New 888sport customers can use the promo code 'RACE888' when making first deposit and when betting £10 on the first race, get a £5 free bet for the remaining races.
Fully verified 888sport customers in the UK can win a max £8k if correctly pedicting eight football results
New Paddy Power customers can place an initial qualifying bet on the sportsbook and will receive a refund in cash (up to a maximum of £20) if it is a loser.
Register a new account using the promo code 'Racing' and after placing a qualifying bet of £10, you will receive £40 in free bets.
New Paddy Power customers can receive their stake back in cash up to a maximum of £20 if their first qualifying bet on the sportsbook is a loser.
New 888sport customers can receive a total of £40 on free bets if registering a new account and placing a qualifying bet of £10 on a sports market.
This offer sees new Paddy Power customers receive up to £20 back in cash if their first bet is a loser.
New customers whose first racing bet is a loser can receive their money back (max £40) and a casino bonus.
If you fancy a break from the serious side of betting, take a look at our Topical Feature List for a bit of a giggle.Click Here To View The List »
View our latest sports articles in our betting blogRead Our Blog »