What is a Free Bet and Why Should You Care?
March 30, 2016
There is an old adage which suggests that there is no such thing as a free lunch, and this refers to the fact that most things worth having in life have to worked or paid for.
It is also a term used to display cynicism however, particularly when customers are presented with so-called ‘free’ offers that create the illusion of a complimentary product or service and are often deemed too good to be true. While many of these offers are indeed misleading or misrepresented, there are some important exceptions to this rule.
What is a Free Bet?
Let’s take the concept of a free bet, for example, which has become increasingly popular in an age of online bookmakers and mobile transactions. In essence, a free bet refers to a wager that is awarded to the better as some form of incentive, whether they are new registrants or regular customers who are being rewarded for their loyalty. Most commonly part of a welcome package, free bets can prove compelling to gamblers and offer them access to wagers that deliver 100% profit.
In this respect, the free bets available through online bookmakers are exactly as they are presented. There are subtle differences, however, some of which may undermine the notion of free and require further clarification. While some bookmakers will offer an unconditional free bet that can be used at the customer’s discretion and without the need for a deposit or initial wager, for example, others will make such as bet accessible once an original deposit has been made.
So while the free bet is technically complimentary as a stand-alone entity, you may be required to credit your account in the first place to access it.
Why should you care as a bettor, sports or football fan?
While some may see this as the classic misrepresentation of an offer, it is simply another way to present a free bet and create a mutually beneficial relationship between brands and customers. The rising levels of competition among online and mobile bookmakers has triggered an increase in the number of unconditional, no-string attached free wagers, however, as firms look to create aggressive promotions that help them to win and retain a motivated market share.
Whether you are a football or horse racing fan, or perhaps a supporter of all sports betting, it is important that you understand how free bets work and how they are presented to customers. This enables you to make an informed decision when choosing between variable welcome packages and offers, while also allowing you to understand your requirements as part of any agreement.
Most bookmakers have some free bet offers to enjoy, simply view our Free Bets page and decide which is best for you!