Free Bets: How Does it Work?

What are free bets?

A free bet is a bonus of a certain amount which bookmakers offer to encourage player loyalty. Free bets have higher wagering requirements than regular bettors. The player must wager the free bets on the bookmaker who offered the promotion. Therefore customers cannot cash them out as cash money.

You must fulfil the bonus conditions to claim a free bet. This might include becoming a new player with the bookmaker, properly logging in and depositing money into your account, or betting on a certain sports event. Make sure you read the terms and conditions carefully.

How Do Free Bets Work in UK?

Players using a free bet offer in the United Kingdom are usually required to create a new account. These offers are usually meant to bring in new customers for the bookmakers. Players should receive the betting offer as soon as possible after signing up for a free bet. And sometimes after fulfilling any bonus conditions. Those can be making a deposit or laying a wager on an upcoming sports event.

If the free bet wins, keep in mind that the profits don’t include the stake money. If you put a £10 free bet on an outcome with odds of 3/1, for example, you won’t get £40 back; instead, you’ll receive £30 in winnings. Most free bet offers also include a time limit. It means that users must use them within a certain amount of time.

How Do Free Bets Work in Canada?

The main incentive for online casinos and sportsbooks in Canada to provide free bets is to attract more players and direct them to create new accounts on their sites. Conventional free bets do not demand the user to make initial deposits. So anybody eager to try out a few of their favourite casino games without spending anything can use them.

After you’ve claimed a free bet bonus, the casino will credit your online betting account with the amount. However, remember that free bets may have limits in accordance with gambling laws in various jurisdictions throughout Canada. It not uncommon that players can only utilize them on specific sports.

How to Claim a Free Bet

So, how do you obtain free bets? In the process of establishing a new betting account with a bookmaker, you might be eligible to receive your “free bet.” Free bets are generally available in a variety of forms, including stake money to bet without any danger of losing money or getting a different sort of discount.

However, regardless of what the casino or sports betting site have to offer, one feature that both have is that they allow players to wager for free and even if they lose, they are not responsible for any losses.

What Are The Different Types of Free Bets

Bets of various types are available with free bets, including:

Stake Not Returned Bet (SNR)

The most popular sort of free bet. This implies you only get the profits from your wager, not the stake.

Matched Free Bet

This is often given to new players as a welcome bonus. This indicates that the bookmaker will match your wager, turning a CAD 25 wager into a CAD 50 overall bet.

Matched Deposit

This is where the online bookmaker compensates a player for their deposit, so a CAD 30 real money deposit becomes CAD 60 in their casino account.

Enhanced Odds Bonus

Sportsbooks usually give these bonuses to new players, although they come with better odds on a sports event than is typically accessible, so 1/2 odds become 10/1, if you use UK Odds. If you use decimal odds this would be 1.5 boosted to 11.0. In American odds this works out to -200 boosted to 1000.

No Deposit Free Bet

This is a free bet that many people regard as the greatest due to its simplicity. It’s a gift offered to players without the need of making a deposit or wager.

Free Bets as Welcome Bonus

In general, free bet offers for new customers are quite simple: a minimal deposit barrier activates a free bet offer once your first qualifying bet is settled.

Risk Free Bets

A free bet is a type of risk-free wager in which your stakes are safeguarded whether the outcome of your bet is a win or lose, allowing you to make any bets you want without spending a penny.

You can, for example, be given a risk-free CAD $10 bet on the next major league which you can wager real money on, but it will be credited as a free bet either way if your bet loses.

Qualifying Free Bet Bonus

Qualifying free bets are bets that must be wagered in order to receive a valid free bet as part of a promotion. For example, placing stakes on Match 1 is necessary to obtain a free bet on Match 2.

Loyalty Free Bets

Free bets are usually applied to a user’s account after they fulfil specific loyalty goals. For example: logging in five days per week or putting CAD $25 worth of takes in one week to get an extra CAD $5 free bet.

To receive as many free bets as possible, you must create several certified accounts, utilize numerous signup offers or welcome bonus codes, and stay up to date on the newest bonuses — increasing your chances of winning big.

Free Bet Offers vs Bonus Offers

With so many bookies on the market, each with its own enticing sign-up offers for new betting accounts, it might be difficult to determine which are the finest free bet offers. Free Bet Offers and Bonus Offers may appear to be the same thing, with bookies frequently giving them to new clients and existing customers.

However, there are a few distinctions between free bets and bonus offers that bettors should be aware of when joining a new bookmaker. A bonus offer is essentially the same thing as a free bet. Place a real-money bet, and when it’s settled, you’ll receive a bonus amount in your casino or sportsbook account.

The flexibility that comes with bonus offers distinguishes them from other types of sports bet wagers, as they may be split up and used as many bets, making them great for first deposit bettors. If you, for example, accept a “Bet CAD 5 and Get CAD 20 in Bonus Bets” deal, you may use the extra money to wager one CAD 10, another CAD 5, and five more CAD 1 bets (assuming the TnCs permit such small wagers).

Free Bet Bonuses are frequently offered by bookmakers to entice you to bet on their lines. Other Bonuses might be used only on additional services, such as casinos, bingo, and poker. Sportsbook bonuses are simple to utilize, but check all of the terms and conditions linked to online slots and casino free bets before using them.

All of these specials are intended to entice bettors, and we at ibetnetwork.comare looking for the finest free bet and bonus deals available.

Are the ‘Free Bets’ Really Free?

The term “free bet” derives from the fact that people don’t have to spend their own money using one of these promotions. Instead of betting funds, free bet tokens are used to cover stakes.

The disadvantage of a free bet is that there is almost always an associated cost before you can claim the free bet. For instance most free bets may not be cashed out.

It’s essential to understand what is necessary before your free bet bonus is credited, whether it’s a qualifying bet, a first deposit, or membership in a free bet club.

How Do the Free Bet T&Cs Work?

When it comes to free bets in Canada, the most crucial piece of advice we could give you is to read the terms and conditions carefully.

Free bet offers are used by bookmakers to engage existing customers with a betting account, but they almost always come with strings attached.

The terms and conditions are usually found in tiny print below the primary information and key phrases to pay attention for include:

  • Timeframe: Typically, free bets are valid for 7 days. Do so immediately, before the free bets expire.
  • Winnings: In a few outlying cases, there may be a limit on the amount you can win with your free bet credits/tokens.

Other conditions and requirements might apply:

  • Minimum odds requirements
  • Eligibility
  • Minimum deposit amounts
  • Accepted and restricted deposit methods
  • How and when do sports books pay out the free bets?
  • What kind of bets (single sports bet, multiple bets, system bets) are allowed?

How to Choose a Free Bet Offer

The biggest sporting events are the most obvious free bets to shoot for!

Sign up bonuses used to be referred to as “matched bet offers” for a long time. It means that a first deposit money would earn the same amount as online betting offers.

These days, they come in all shapes and sizes. We prefer larger sizes or quantities of free bets, but there are a few things to think about:

  • How much real money must I deposit/bet in order to receive the greatest free bet incentive?
  • Will the free bonus bets be deposited to my account right away?
  • What are the time limits on my free bets?
  • Is it possible for me to win a significant amount of money?
  • What are the wagering requirements before existing customers can withdraw free bet winnings?
  • How much is the smallest deposit required to activate my free bet?
  • What sports, competitions, and market types can I use my free bets on?
  • Is the bookmaker fully authorized and regulated in my country?

Advantages of Free Bets

Free bets are risk-free, which means a bettor may go all out with them and back high odds picks with the potential for large gains.

Disadvantages of Free Bets

Free bet offers are a staple of the free betting site, but there are some drawbacks:

  • The stake money from a free bet is not returned
  • It may be difficult to achieve qualifying conditions
  • Limits on the markets and bets you can make
  • Before receiving a free bet, almost everyone has to make a first deposit
  • It’s difficult to understand many of the terms and conditions of betting offers
  • Signing up for offers and latest free bets may entice you to gamble when you wouldn’t normally do so

License and Safety

No, free bets are not any different from a real money bet (except that your free bet stake is not returned in the event of a winning payout).

As a result, they are classified under the same broad categories and conditions as your bookmaker. And they are commonly licensed by a respected body such as the UK Gambling Commission or Malta Gaming Authority.

Bookmakers also support organizations that provide assistance to those who may need assistance facing responsible gambling. Two of those organisations are GamCare and Gambling Therapy. Make sure to always gamble responsibly.

How to Find the Best Free Bet & Welcome Bonus

Make sure to visit ibetnetwork.comfor all of your latest free bets, bonus codes, casino bonus and enhanced odds needs!

You may also take advantage of all the free bets we provide every day for new and existing players, which include matched bonuses, higher and enhanced odds, best free bet offers, and even free spins. We search the Internet for all of the best free bet offers, so you don’t have to.

Free Bet Offers for Existing Players

There are several reasons why, as a current client, you may and will get free football bets or free sports bets.

  • Free Bet Clubs – Many betting sites have “bet clubs” which will reward you with a free bet every week if you make a certain number of bets over the course of the previous seven days.
  • Reload Bonuses – If you reload your online account with cash, you might discover that your bookmaker has a random free bet or casino bonus available when you make a new deposit.
  • Consolation Prizes – It’s not unusual for ongoing deals to include free bet promotions. When a horse is beaten into second by a favorite or falls at the last flight of a race. The bookmakers usually credit free bets to some players’ accounts. Another example in the world of sports betting is receiving free bets for Grand Slam tennis matches. This often happens if your player advanced two sets but loses.
  • Justice Payments – If you back a horse who stakes himself in the stalls at the start or weighs in light after the race, for example, you may be eligible for a free bet as compensation.
  • Loyalty Bonuses – Free bets are frequently offered to punters who have been loyal to a certain online betting site.

How to Claim a Free Bet Offer & Sports Betting Bonuses as a Welcome Bonus

A free bet is usually credited to your account if you claim it as part of a welcome offer. Once you’ve created an account with an online casino or online betting site and placed your first “real money” wager for the stated amount in the offer, you’re ready to go.

After that, you may generally employ it on any sports bet, with the exception of certain minimum odds or a wagering requirement. It’s also not unusual for a withdrawal to be permitted only after a specific number of bets have been placed for certain amounts of money.

Depending on the bookmaker and the betting offers in question, offers and conditions may vary widely. Using a free bet website like ibetnetwork.comallows you to discover the greatest offers in one location rather than having to do it all yourself.

Free Bets FAQs

Is it possible to cash out a free bet?

A free bet cannot be cashed out before the start of the event or in-play, as it can with a cash wager.

When do free bets expire?

Free bets are usually valid for 7 days. Skybet is the only one we’re aware of that offers free bets with no expiration dates. A free bet on a long-range event such as the Super Bowl or Stanley Cup is possible, but not advised.

What does “paid in free bets” imply?

Winnings are frequently paid in cash, however free bet credits or casino bonuses/free spins are sometimes used as a payment method in contrast to paying out in cash. Because your stakes are not returned when you win from a free bet/casino bonus have a lesser value than real money.

Is it possible to profit from free bets?

You can earn money from free bets if your bet wins, as is the case with all sports wagers. Even if you don’t receive your stake back, you will get your winnings. The higher the chances are for winning, the more money you’ll make.

What is the best way to use a free bet?

Once you’ve made your selection, simply choose it or click it to appear on your betting slip. You’ll usually see a little button or a checkbox that says “Make use of your free bet bonus” or something similar on this screen. If you wish to accept your free bet, simply click this before confirming your wager.

Can I withdraw my winnings from a free bet?

You can’t cash in a free bet or casino bonus balance. However you may cash in winnings from a free bet.

What are betting bonuses?

A betting bonus is a common promotion given by bookies that matches your first deposit up to a set percentage. Please keep in mind that usually that rate is no more than 200%. This is essentially a matched deposit free bet. However, before redeeming any betting bonus, it is essential to read the complete terms and conditions carefully. Be aware that most bookmakers will match a deposit up to a certain amount as a deposit bonus (e.g., CAD $100).

What is a risk free bet?

A risk-free bet is a wager in which you know you’ll receive your stake money back if the bet fails. The amount you’ll get back is determined by the risk-free bet limit. It could range from 50% to 100% in some cases. New players may find risk free bets and deposit bonuses to be particularly appealing. Because they are accessible to a wide range of sports and betting options.

About the Author

Mehdi Vazirian

Mehdi Vazirian has been working in the sports betting and gaming industry since 2015. The passionate soccer and boxing fan has an analytical approach to sports and loves data and stats. The iconic French soccer player and current manager Zinedine Zidane is his all-time favourite soccer player and he admires the Swiss tennis player Roger Federer.

Mehdi's favourite slot game is the Book of Dead and he also likes playing blackjack, both in land-based and online casinos.