When you look at free bets then there are a range of free bets offered by UK bookmakers. Some free bets are offered as sign up incentives to open a new online betting account, whilst others are offered to you once you are an existing customer.
The term free bet can have a variety of meanings when it comes to online sports betting and sometimes the word FREE is misleading.
On some betting sites you might see a sign up bonus being advertised as a free bet which is not really the case. However there are two kinds of free bet that are definitely not used as a sign up bonus incentive.
THE RISK FREE BET
A very common type of free bet is the risk free bet. With this type of offer the bookmaker is offering you a free bet as long as you place a bet from your existing balance first.
The risk free bet lets you place a wager with your own money and if your bet wins then you keep your winnings plus you receive your original stake.
But if you lose then the bookmaker will refund your losing stake as a free bet. This gives you a totally risk free bet.
Note well though, this type of risk free bet has certain limitations and rules attached. Normally you will be required to play through your free bet stake a number of times before being able to withdraw any winnings that you may have won using the free bet.
Make sure to read all the terms and conditions on the bookmakers site.
We mentioned there were two types of free bet.
The Stake Returned Free Bet: (not common)
You place a Ј5 bet at evens on Manchester City to score in the first half using a stake returned free bet. If you win you’ll receive Ј10 back. The Ј5 winnings plus the value of the free bet offer.
The Stake Not Returned Free Bet: (most common)
You place a Ј5 bet at 3/1 using a stake not returned free bet. If you win you’ll receive Ј15 back. You will only receive the Ј15 winnings and not the Ј5 value of the free bet offer.