Free bets are used by bookmakers to entice new players to create an account or to promote a certain tournament that the bookmaker believes is going to be popular and as such lucrative. Although free bets in the UK and many other jurisdictions can be lucrative there is no such thing as a free lunch. As such, you need to make key decisions before accepting a free bet. The idea behind this post is to help you decide whether or not you want to make use of a free bet.
With this in mind, let’s look at the criteria for accepting free bets.
The deposit to bonus ratio is how much you have to deposit to get your free bet. So for example, if you deposit $20 to get $20 in a free bet, this is a ratio of 100% so pretty good. If the deposit was $100 for $20 then that is not as good but you’ll get 20% more bang for your buck than if there was no free bet involved.
If the deposit was $1000 for $20 well that’s awful and not really worth your time.
Most sports books put a time limit on how long you have to use your bet. Most are seven days but some of the sneaky ones put a limit of around 3 hours. So check you have the time to make use of the bet, especially if you have a game in mind where you want to use it.
It is rare for a sports book to cap winnings from a free bet other than the normal limits that apply to using the site. That said, now and then the winnings are capped and to avoid a nasty surprise, it is prudent to do your research so you know exactly how much the winnings are capped at if at all. If the winnings are capped, you may find the free bet is worthless. So check.
Wagering requirements are often part of a free bet and this can be a game changer on whether or not you use it. The wagering requirement is a multiplier placed on the free bet. This total figure of the free bet x the multiplier is how much you have to stake before you can withdraw any free bet winnings.
So, if you have a free bet of $50 and a multiplier of 2, you have to wager $100 before you can withdraw any winnings made from the free bet.
As you can see, this can be a real game changer in terms of whether or not you accept the bet.
It is rare that you cannot use a free bet on any sport you like but it does happen. It is normally made clear if there are any limitations on where the free bet can be used, but double check so you’re aware and in control.
Free bets can be fantastic, but do your homework before making use of them to avoid being disappointed.
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