The concept of Free bet
To understand the concept of free, but it is necessary to understand the meaning of the term punter. A punter is a person who places a bet or engages in the play of betting commonly known as a gambler or a bettor. So normally it is seen that free bets are carried out these days mainly via an online medium through the help of a desktop, laptop, mobile or Tablet. The guides or bookmakers generally roll out free back in order to encourage and attract punters to play.
For New Customers
In most cases, it is seen that the guides advertise a really attractive sign-up bonus known as a reward. This sign-up bonus can be used by new customers to place a free bet. This reward is given to the new customers as an enticing amount for opening a new betting account which is usually credited to the accounts of the customer to be used as an initial amount to place their first free bet.
Different types of free bets
Stake Not Returned
These are the most popular type of free bet format which is generally referred to a new customer by the bookmaker as a promotion. The main characteristic behind a stake that was not returned bet is that the proceedings from the winning will be returned to the customer account where the part of the free stake itself is not Re-credited.
These are also known as free money e which are normally given to the customers as a sign-up promotion which ensures that when the punter make the first deposit of money balance in their account they are given some extra money generally referred to as bonus balance. But the main criteria behind such free money e is that they are always attached with some kind of wagering requirements which is needed to be executed to withdraw such amount.
Bet refunds are normally available in the form of a sign-up promotion but in most of the normal cases, it has been seen that the existing customers are given a bonus. Bet refund is nothing but a surety that if in case a punter loses a bet then we can have their money re-credited to their account in cash or bonus fund. But in most cases, it does not guarantee a 100% risk-free return because most of the time there are a certain number of terms and conditions attached to such refunds when they are credited back to their accounts.
In normal cases, the bookmakers offer a free bet when a new customer signs up with them but these are usually attached with a lot of terms and conditions. Hence in such cases, a deposit bonus works as a much better option because these deposit bonus cells can be used in any market but it cannot be withdrawn as it is attached with a condition that it is in the form of a stake not returned credit.
Event bonuses are generally applied in the case of existing account holders or customers because it is dependent on the happening of a special event for the promotion to get activated for use. This type of free bet helps the customer or account holders to ensure their chances of a big win rather than getting involved in various complicated offers and promotions.
How to choose your free bet
The main strategy behind converting a free bet into actual cash is a very straightforward method. It usually starts with the first and foremost rule to read and comply with the most acceptable terms and conditions in the favour of the punter. As a general rule of thumb, it is usually seen that a higher or may lead to a larger liability but in exchange, it can result in bigger profits which is always worth it. Since the stake is not returned it is usually prescribed to place them with higher odds which will help a punter to maximize their profit. But in many cases and occasions it has been seen that there might not be enough exchange funds in order to opt for options with the highest profitability criteriabut it is never subject to speculation if a free bet is placed at lower odds which often leads to a smaller amount of profits.
How do free bets work?
So it is important to know that free bets are nothing but bonuses that can be used to place a bet that intends to either cover the total value in parts or in full which is awarded if it is played in one's favour. It is really important to note that a free bet does not include the actual Stake of the bet rather the proceedings are somewhat as follows:-
If a punter places a bet of £100 on a 4/1 selection, hence the following person will be entitled to a prize of £400 and not £500.
Basic conditions you need to know
Further, in most cases, there is a similar condition that restricts the use of free bet coupons up to only one for each round of play. It is also worthwhile to mention that almost every coupon are non Transferable as well as non-negotiable. Lastly, almost every coupon is subject to non-partial Redemption and non-refundable if they are not used until the date of expiry.
What should you look for when choosing free bets?
Every individual is free but has a unique characteristic through which it can be determined into various types and classifications as discussed above. But there are certain terms and conditions which are generally the same like every free bet coupon has a fixed value that is issued and further can be utilized or redeemed in the form of a marketing promotional offer.
What are betting bonuses?
A betting bonus is nothing but an added stake to the initial amount of bet. For eg - the typical restriction in the case of a free bet is that there will always be a maximum and minimum amount that surrounds the amount of betting. These restrictions play an important role to add an extra stake to the sport which further increases the payback in case of winning.
What are the best free bets for existing customers?
In cases of existing customers, since our customer has already used their first reward in their free bet the bookmakers introduce special betting offers which help to attract the customers to place a bet of a particular amount. The bet can be of a minimum or maximum amount as prescribed by the bookmakers which help the punters to qualify for free bets which often leads to some required criteria or outcomes in a particular bet. For eg – the Early Payout bets are the best because it literally ensures a win-win situation for the punter. It is optimal for existing customers with a little bit of experience and for someone who likes to do matched betting. Even the number of options available is a lot and ensures that the customer is getting cash too.