How do free bets work?
A free bet is not real money and can only be used for betting, unlike, for instance, cash bonuses. Let's say the player gets a free bonus of $40. He bets on a sporting event with a coefficient (e.g. 2.5). If the bet wins, the player gets $60: (2.5 x 40) - 40 = 60. Thus, the amount of the winnings is the same as if the player bet his own money, but on the other hand, he does not take any risks. However, there are some pitfalls to consider.
What conditions can free bets feature?
In order to get a bonus, the player often needs to submit an application. In turn, the bookmaker may require registration, specification of necessary information, deposit of a certain amount of money, etc. Also, in order to withdraw the bonus, sometimes the bet is to be played in accordance with the conditions established by the bookmaker. For example, the bookmaker may insist on the player’s bet being not less than a certain amount or for it to be related to a certain coefficient, sport or event. The conditions are determined by the bookmaker himself, so their nature also affects the player's choice. Let's consider an example of possible conditions for obtaining a free bet. Let's say the player must make a deposit of $10 to get a free bonus. However, to be able to use it, he must make 5 more bets with a coefficient of 2.8. In the worst-case scenario, he will lose $140, although he originally intended to bet for free. However, despite the result, the free bet has already done its job of attracting the client. That is why it is so important for both players and bookmakers to pay attention to the rules of free bonuses, since a one-time bookmaker’s benefit can eventually turn into a loss of the player. Withdrawal of funds received from a free bet is also worth mentioning. You can withdraw funds only after all conditions are met. If the player attempts to withdraw before the conditions are fulfilled, the bonus is cancelled. The terms of the bonuses can also depend on events they are confined to.What types of free bets exist?
The player is usually offered free bets in the following cases:- when registering on the website
- when topping-up his account for the first time
- once in a certain period (once a week, once a month, etc.)
- if a certain event occurs
- when the first bet is made through the mobile app
Advantages of free bets
In general, the following advantages can be noted:-
For the player:
- Risk-free betting
- Ability to evaluate betting opportunities with a new bookmaker
- Chance to try a new betting strategy
- Additionally, due to increased competition, bookmakers start offering more generous terms of bonuses crediting.
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For the bookmaker:
- Opportunity to attract new players
- Opportunity to retain existing players
If you decide to use free bets, remember what nuances this marketing tool features.
