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How are free bets used, and should you avoid them?
Free bets are also referred to as bookmaker bonus bets. Bookmakers credit free money to a gamer’s account if they meet the set criteria. The player can then use the bonus to stake on specific betting markets as outlined by the betting company. Free bets differ from regular bets as you do not use your money to bet, and if you win, you only receive the amount earned minus the stake.
Should you avoid free bets? Definitely, no, you can use the free bets to try out new bets and make the most out of the bonus. You can also use the free bets to try out new bet markets without having anything to lose.
What are the top free bets used and offered?
The top free bets used and offered by bookmakers include:
i Matching your stakes
The matching your stake is the standard free bet offered by bookmakers. You get this free bet by opening an account and placing your first bet. The bookie with then offer, offers you a free bet stake based on the amount you used to make your first bet.
ii Free bet series
This type of free bet is similar to ‘Match Your Stake’ with the difference that gamers enjoy the bonus in bits. For example, if a player makes the first stake of $50 and is awarded a bonus of a similar amount, they are offered five free bets of $10.
iii Initial deposit bonus
Although it is a previous standard free bet among bookmakers, it is less common in recent times as many of them have dropped it. A gamer is entitled to a bonus once they make the initial deposit as a welcome bonus. You can try to visit slots experts and enjoy the initial deposit bonus.
iv Winning first bet bonus
For this type of free bet, a gamer is offered a bonus if they win their first bet. The amount of bonus bookmakers will provide you with depend on your initial stake.
Can you maximize profit from a free bet?
Here are ways through which you can maximize profits from your free bet:
- Use your bonus to double your bankroll. To maximize your free bet, use the amount offered to increase the stake of the chance you have in mind. For instance, if your bonus is $30 and you have a bet in mind that you want to stake $10, use the gift to bankroll the stake to $40.
- Hedge a bet. Hedging a bet will help you minimize the losses if you lose your bet. For instance, if you are placing a bet on a team, you can utilize the bonus to back the other team you are betting against.
- Put a ‘matched bet.’ Matched betting involves using your bonus to place a bet and then utilizing the betting exchange feature to predict that the outcome will not occur.