What are Free Bets?
Free bets are types of bet which can be placed without any stake being laid down by the bettor. They are often issued by casinos, bookmakers and other gambling outlets either for promotional purposes to entice new customers or as rewards for existing customers who meet specific criteria.
Free Bets Explained
Free bets have been used as a marketing and rewards tool by casinos and bookmakers for many years. They are risk-free bets which allow the customer to place a bet, free of charge, up to a certain stake.
There are a number of reasons why free bets are offered, including loyalty bonuses, first deposit bonuses and new customer rewards. They are occasionally issued on an ad hoc basis.
They are most commonly associated with online poker and games as well as sports betting. Real world casinos will usually run points schemes which can be exchanged for free bets, free chips or other rewards of value.
Whether you bet online or in person, each free bet will come with its own set of terms and conditions. The most common one to look out for is the casino’s wagering requirements. If a free bet is issued with a 10x wagering requirement, then you must stake 10 times the value of your free bet before a withdrawal can be made.
As an example, a casino player may decide to take up a 100% first deposit bonus of £100 with 10 times wagering requirements. This would mean that once you have deposited and played through £100 of stakes, you’ll be rewarded with an additional £100 to use. With these wagering requirements in place, the player will have to play through £1,000 of bets before being able to withdraw any generated winnings.