What are the Different Types of Free Bet?
March 31, 2016
On the face of it, the term ‘free bet’ would appear to be one of the easiest for gamblers and bettors to understand. On a fundamental level this would the correct assertion too, as a free bet generally refers to an unconditional wager of a fixed financial sum which may be subject to various conditions.
As ever in life and particularly the complex world of sports betting, however, there are subtle free bet variations that need to be considered. While not of these undermine the core definition of an individual wager of being free, there may be associated conditions that impact your return or the nature of the bet.
In essence, there are three main types of free bet. Here is a brief breakdown of these and what they mean for you as the consumer…
The Classic Free Bet
Let’s start with our favourite, which is the classic free bet. This is essentially an unconditional, no-strings attached offer that is usually included as part of a welcome package for new players, although online bookmakers may also make it accessible to loyal customers or high-rollers.
This free wager takes the form of a fixed cash sum, and is usually made available across all sports, disciplines and markets. Players can use this bet before depositing money into their account, making it entirely risk-free and capable of delivering 100% if successful. Just bear in mind that you will be unable to withdraw any winnings until you have deposited funds, however, as otherwise online accounts would be abused and free bets quickly consigned to history.
The Free Bet that is accessible upon deposit
This is arguably the most common type of free bet, and once again it is important to note that the offer includes a complimentary wager that can be used according to any associated terms and conditions.
The difference with this type of bet is that it cannot be accessed until a player has credited their account with a minimal sum, with some brands offering a free £20 bet once you have deposited £10 or more. This is simply a show of loyalty, as you pledge to place further wagers through the platform and use the free bet simply as a starting wager.
This makes perfect sense, especially when you consider that the free bet is essentially offered as an incentive to join a particular sports betting group or brand.
The Free Bet that follows an initial wager
Finally, we have a free bet that follows an initial wager that you place with your own money. This is similar to the previous option, but in this instance brands will make free bets accessible to those who place minimum wagers on a specific event or market. This type of incentive is used to reward active customers, whether they are new to the brand or loyal patrons that have spent hundreds through the platform.
Usually you will place a compliant bet before ‘opting in’ to the offer, at which point your account will be credited with the free bet amount. This can then be used according to specific terms, although it is still complimentary and fitting of the core definition of ‘free’.
Understand? Great! Now time to make the most of those free bets…