Free Bets Glossary
FREEbets.org.uk is the home of free bets, welcome offers and bonuses. With over 40 online bookmakers and exchanges listed, each offering their own individual offer, you’ll be excused for finding some of the terminology used to explain these offers confusing. Well, that’s where we come in. We’ve listed some common terminology with full explanations and examples that you’ll come across when choosing your free bet / welcome bonus.
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Accumulator - A bet that consists of multiple selections and requries each of them to be successful in order for the bet to win. This is particularly popular in football, where for example a bettor may select six teams all to win. It is a risky bet though with all the selections required to be successful.
Ante-post Betting - When you place a bet well in advance of the event actually happening. This could be for a certain team to win the next World Cup or a horse to win the Gold Cup at Cheltenham. Ante-post betting can yield odds that are larger than the eventual starting price (SP) but is a risky strategy as so much can happen over a space of time.
Banker - A selection that is considered to be a near certainty. Obviously nothing is a guarantee but when you see a bet deemed a 'banker', whoever is tipping it sees it as very likely to come in.
Double - This is a bet that consists of two selections that requires both to win in order to win.
Each-way - Most commonly found in Horse Racing where your bet is split in to two parts. First of all for your selection to finish first and then for it to place. For example an each-way bet on a horse would be for it to finish first or to be placed within the top three places (or more/less depending on how many are in the race). The each-way bet is also popular in major golf tournaments, where even if your player isn't the outright winner you'll get a return if they finish in the top specified places.
Favourite - The selection that is the shortest priced and is deemed to be the most likely winner available in the market.
Form - Certainly one to keep an eye out for ahead of making your bet. Basically the recent results of your selection i.e how well the selection has been doing going in to the event.
Free Bet - Bookmakers will offer these to both new and existing customers by which they credit your account with a certain amount dependent on qualifying requirements. These may also be described in various other terms such as bonuses or bet credits.
In-Play - This is when you can bet even once the event has started. This has exploded in popularity in recent years with the developments of mobile betting and offers punters the chances to analyse the situation before making a selection. You may want to bet on a certain football team to win a match despite them being a goal down as they will be better priced and you are confident in their chances of turning things around.
Matched Free Bet - The bookmaker will match your initial deposit in the form of a free bet. For example, opening an account with a bookmaker and depositing £50 to receive a £50 free bet to play with. (Note, each bookmaker has a limit on their matched free bet offers. For example, they’ll match your deposit up to certain amount, such as £50 or £200.)
Minimum Deposit - When opening a new account, you are sometimes required to make a first deposit of a minimum amount to be eligible for the welcome offer / free bet / bonus. For example, open a new account and make a minimum deposit of £5 to receive a risk-free bet.
Maximum Bonus / Free Bet Amount - A bookmaker will give you a free bet or bonus up to a maximum amount. For example, open a new account and have your first deposit matched with a free bet up to the value of £50.
New / Existing Customers - Most free bet offers are only open to new account holders, however bookmakers do have plenty of offers and money back specials which are available to existing account holders. No Deposit - The holy grail of free bets. No fuss offer in which you are not required to deposit funds into your betting account to receive the free bet / bonus.
Promo Code - Some bookmakers require you to enter a promo code when reregistering a new account to be eligible for their welcome offer / free bet / bonus.
Qualifying Bets - Some bookmaker require you to place a ‘qualifying bet’ in order to activate your free bet. For example, place a bet of £20 or more at odds of EVS (2.0) or greater to receive a £30 free bet.
Refund - Much like a risk-free bet, bookmakers will refund the stake of your first bet up to a certain amount if the bet losses.
Risk-Free Bet - A number of bookmakers now offer a risk-free bet to their new account holders, where you get your money back if your first bet loses.
Rollover - Most free bet offers have ‘rollover’ conditions attached to them, also known as ‘wagering requirement, in which you must meet the conditions before your bonus winnings become eligible for withdrawal. For example, a £25 free bet with a 4x rollover condition means you must place a bet using your £25 free bet, if it wins, you must place a further £100 worth of bets before your funds become eligible for withdrawal.
Terms And Conditions - All the information you need to know about a welcome bonus / free bet is listed in the terms and conditions which can be found on the bookmakers website. Information such as ‘rollover conditions’ and ‘qualifying bets’.
Valid - Check the terms and conditions to ensure you are eligible for an offer before signing-up to a bookmaker. For example, some offers are only valid for new customers in certain countries or valid to new accounts opened in a specific date range.
Welcome Bonus - A welcome bonus is offered by bookmakers to new account holders. For example, when opening a new account with a bookmaker, you’ll get a 20% bonus on top of your first deposit.