One of the many great things about wagering with online bookies is every now and then they throw a free bet or two your way. Now with so many bookies flooding the internet each is trying to undercut and outdo their competition with a dizzying array of sign up bonuses, free bet offers, cash back offers, special bets, promo codes and improved odds.
But what are all the technicalities of free bets and how do they work?
What are wagering requirements?
First thing’s first. You must be over 18 and have an account with an online bookie to be eligible to receive a free bet in the first place. Also to be eligible, with most online bookies your account has to have received a certain amount worth of deposits, often at least $20.
Sign-up bonuses are not available to residents of New South Wales, South Australia, Victoria and Western Australia because of state legislation. Each of these states has very precise gambling laws, so be aware of the laws of your state and always operate within them.
When you are credited with a free bet you can’t just withdraw the amount the free bet is worth. No. You have to use it to have a punt first, hence the name a “free bet” not free money.
In using your free bet the entirety of it must be used in a single wager. This means if you are credited with a $10 bet you can’t make two $5 bets or five $2 bets. You can only use your free $10 bet as a single $10 bet: all in one hit.
If, after placing your free bet, it happens to win, then the amount of the free bet will be deducted from your winnings. For example, say you are gifted a $10 bet and place it on something paying 2/1. If it wins, your total win will be $20, minus the initial free bet of $10, leaving you with a tidy $10 profit.
A lot of times free bets have a shelf life too. Check each online bookie and each individual free bet for details on how long each free bet is valid for.
Are Free Bets Worth your Time?
Of course they are! Ever heard the phrase, “free money is good money”? It is true.
The smart punter can use free bets to hone their art and even to inflate their betting account balance when used correctly.
Aside from the obvious, free bets can give you the opportunity to be a little more adventurous and extravagant and make a bet you may not otherwise make if you were using your own money. Say you have a good feeling that an absolute smokey is due to come good but don’t want to risk your own money on such a ridiculous punt. Then use your freebie! That way if you lose, it wasn’t your money anyway: no harm no foul. But if you win, well, you will walk away with a profit, literally making something out of nothing.
It’s a win/win situation.
What are some free bet Offers and their standard wagering requirements?
WilliamHill.com.au offers a free bet bonus up to $500 when you register with them. All you have to do is sign up, make a settled bet worth at least $30 and then reap the rewards.
SportsBet.com.au offers a matched free bet of up to $250 for new customers.
CrownBet.com.au offers a 300% matched deposit bonus up to $75 in free bets spread across three individual free bets.
The wagering requirements of each of these offers are that they are one time offers available to new customers. Depending on which bookmaker you choose to bet at, you may have to wager the bonus amount more than once before you can withdraw your balance.
How to make the most of free bets
With so many different online bookies flooding the marketplace these days the smart punter has multiple accounts with which to exploit, or take advantage of each bookies’ different bonuses, free bet offers, money back offers, competitions, best odds, special bets and inflated odds on particular events.
Online bookies offer free bets to their customers for an array of different reasons. You may be offered one as part of a sign up package, on your birthday or even if your account has been inactive for quite some time and as an inducement to start punting again.
So be smart and have multiple betting accounts across a wide array of online bookies and use the competitive beast that is the gambling industry to your advantage.