Generally speaking, you can’t just simply claim a free bet and cash it out. Instead, use the free bet credit to wager. In most cases, when you place a free bet wager – the winnings will be the profit from the bet and don’t include the original stake. In other words, players can claim free bets at online sportsbooks, making it possible to place a wager without incurring any inherent risk.
For example, let’s say you receive a $50 free bet, and decide to take a shot on the Los Angeles Lakers, which are going off at +200 against the Chicago Bulls. If the bet wins, you will secure only the $100 payout. Meaning, you will not get back the initial $50 stake. Whereas, if the bet loses, you will not lose any real money from your end. Hence, there is no risk to wager using a free bet bonus.
We suggest reading the terms and conditions of all free bet offerings. Remember that there will be an age restriction to create a sports betting account and claim the free bet offers.
Here is how the different types of free bets bonuses work:
- Bet & Get Free Bets: This is the most popular type of free bet. Bettors must first place a real-money wager, and sports betting sites match the bet with a free bet of the same amount, up to a predetermined value.
- Deposit Match Free Bets: The deposit free bet bonus is mostly applicable for new customers. The sports betting sites match the free bet against the size of the new player’s deposit(mainly first deposit), up to a certain amount.
- No-deposit Free Bets: In order to claim these free bets, players don’t have to place a wager of any kind. The only requirement will be to create a valid sportsbook account.