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Earning Free Bets
Most sportsbooks on the Internet offer a sign-up incentive in the form of a free bet. When punters open more than one account, the amount of money earned from these free bets can become quite substantial, and free bets can become an important part of a successful betting strategy.
The majority of sportsbooks will not redeem free bet offers until new users have made a deposit into their account and placed a bet from this deposit. The amount wagered on these first bets determines the size of the free bet awarded to the punter.
For example:
A punter opens a new account at a sportsbook offering a $25 free bet. The punter then makes a deposit of $50 into his account. To cash in on the free bet the punter will now have to place a bet, remembering that the size of the wager will determine the size of the payout.
Wagering more than the $25 on offer will not increase the size of the free bet payout, therefore a punt of $50 will still pay out $25. However, if the punter only bets $10 the free bet awarded will be $10.
Free bets are redeemed in two ways:
- A cash payout into the users account. Some sportsbooks deposit the value of the free bet directly into the users account, where it can be used to place a bet or withdrawn along with the punters funds.
- The majority of sportsbooks in the United Kingdom offer the punter a matched bet, matching the amount placed on the first bet with a voucher of the same value. This voucher can then be used to place a bet. Winning bets do not return the sum of money staked on the selection.
Finding Free Bets
Free betting opportunities are not restricted to sign-up bonuses. Many sportsbooks offer free bet opportunities during some of the biggest sports events. These promotional offers allow the punter to place a free bet on a specific sport event.
Free bets can also be offered on punts that satisfy certain conditions. An example would be a free matched bet offered on bets made on grand slam matches going to five sets. Often these bets are only valid if the original bet loses, and offer an excellent way to recoup lost bets.
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