5 Types of Free Online Sports Bets

Online sportsbooks offer free bets as a means of drawing in new bettors. However, the industry as a whole doesn’t just offer one type of free bet. Instead, it features several different versions of this promotion.

Assuming you like taking advantage of betting bonuses, then you’ll definitely want to know the differences from one promotion to the next.

The following guide discusses five types of free online sports bets. It also covers additional information that you’ll want to know regarding these deals.

1 – No Deposit Bonus Free Bet

Most sports gambling bonuses require you to place a deposit. No deposit bonuses, on the other hand, merely require you to sign up for an account.

If you’ve ever joined a mobile sportsbook before, then you’ll have absolutely no trouble with this process. You simply fill in the blanks and submit your account for approval. As with any bonus on this list, you may also have to enter a bonus code.

Upon receiving the no deposit bonus, you place your first wager. Assuming you win, you’ll receive the profit from the bet—not the stake, though.

Here’s an example on how a no deposit bonus works:

• You sign up for an account.
• You receive a $20 free wager.
• You place a $20 bet and win.
• You’ll collect $20 ($40 – $20 stake).

The winnings will be subject to terms and conditions. After satisfying terms, you’ll be able to cash out the money or simply keep betting with it.

2 – Matched Free Bet

A matched free wager requires you to place a deposit. The bookmaker will then match your deposit up to a certain amount.

Here’s example:

• A betting site offers a 100% matched bet worth up to $50.
• You deposit $30 and, thus, qualify for a free $30 wager.
• You make a $30 bet and win.
• You’ll receive a $30 payout ($60 – $30 stake).

The defining characteristic of this offer is that your deposit is matched with a free wager. Provided you win the first bet, then you’ll collect bonus cash. As always, terms and conditions apply to winnings.

3 – Free Bet Worth a Set Amount

This deal also works similar to the matched bet covered above. It sees you get a free wager after funding your account.

However, your bet isn’t based on a matched percentage of the deposit. Instead, you just receive a set amount.

Here’s an example on how this offer works:

• And online sportsbook offers a $20 free bet when you place the minimum deposit.
• You make the minimum deposit.
• You receive a $20 free wager.
• You bet $20 and win.

The downside to these deals is that they’re only worth whatever the bookmaker sets them at. Therefore, you can’t just make a larger deposit and be matched at that amount.

Nevertheless, a free bet is a free bet. You likely won’t complain as long as you’re getting some kind of bonus from your deposit.

4 – Risk-Free Bet

All of the deals covered up to this point revolve around whether you win the wager. Assuming you win, then you collect the profit (but not the stake) from a bet. If you lose, then you’ll get nothing.

A risk-free wager works in the opposite manner to this. It doesn’t pay anything when you win. However, it provides the chance to earn back losses when you lose.

Here’s an example on how a risk-free wager works:

• A bookmaker offers a risk-free bet worth up to $100.
• You deposit $50 and, thus, qualify for a $50 risk-free wager.
• You make your first bet and lose.
• You now have the opportunity to earn back the $50 in losses.

You’ll need to meet terms and conditions before collecting the losses. Regardless, it’s nice that you at least have a chance to get these losses back.

5 – Reload Free or Risk-Free Wager

Betting sites offer their best deals to new customers. After all, they want to feature big free wagers to encourage bettors to sign up with them.

But what happens when the welcome bonus is done with? If you’re wagering with a decent sportsbook, then you should have the opportunity to earn reload bonuses.

The term “reload” refers to how you are reloading your account with a new deposit. Regarding bonuses, it alludes to deals offered after the initial welcome bonus.

Both standard free wagers and risk-free bets are common reload bonuses. With that said, you should look for sportsbooks that provide free wagers after a welcome deal has expired.

Terms to Consider With Free Bets

Real money online sportsbooks want to ensure that you compete for bonus cash, rather than just withdrawing it right away.

They institute a number of terms and conditions to make this happen. The following terms and conditions are common throughout the industry.

Rollover

Rollover is the amount of money that you must wager before cashing out free bet winnings. It’s expressed as a multiple of the bonus.


Here’s an example of rollover:

• You win a free bet worth $50.
• Rollover is 8x.
• 50 x 8 = $400 must be wagered

You definitely want to get bonuses with as little effort involved. With that being said, you should look for deals that feature low rollover.

The betting industry’s standard is between 6x and 10x. If you can find wagering requirements even lower than this, then you should go for the associated offer.

But if the rules state a rollover of more than 10x, you’re probably better off passing. The only exception to this is if you’re sure you’re going to make enough bets to clear the bonus anyway. In this case, you have nothing to lose.

Expiration Dates

You’ll need to activate your bonus before using it. Mobile sportsbooks typically give you three to seven days to do this.

Bookmakers also require you to meet rollover in a timely manner. They may allow 30 days or more to complete this requirement.

In any case, you always want to act before the expiration date is up. Otherwise, your bonus will vanish.

Market Restrictions

Betting sites sometimes offer free bets for specific markets. For example, they may feature a $25 free wager for NFL games only.

They create these restrictions in order to promote a specific market. As long as you’re interested in whatever they’re promoting, then you’ll still appreciate the opportunity.

Deposit Restrictions

Not all deposit methods apply for sports betting bonuses. Many online bookmakers restrict deposits made with Neteller, Skrill, or other e-wallets.

This seems like an odd stipulation when considering that Skrill and Neteller are very popular e-wallets. However, bookmakers are merely looking to prevent bonus abuse with such moves.

Bonus abusers commonly use e-wallets to cash out. This way, they get their funds as quickly as possible before a sportsbook has time to review the matter.

Minimum Odds

Sports betting sites don’t like when you back heavy favorites just to clear rollover faster. As a result, they institute minimum odds.

For example, you might have to bet at -150 or higher (-145, -140, etc.). Any wager placed below these odds could void your deal.

Country Restrictions

Going back to the bonus abuse discussion, certain countries are known for taking advantage of betting deals. Russia, Romania, and Thailand are commonly banned from sportsbook bonuses.

You should always check out the terms and conditions page to make sure that your country isn’t on the list. After all, you don’t want to waste time depositing only to find out that you’re not eligible for a bonus.

Conclusion

“Free bet” is a loaded term that can allude to one of several offers. If you’re new to sports gambling, you might not know the subtleties between a risk-free and free bet.

Of course, you can always return to this guide whenever you’re unsure on the matter. The five free wagers covered here are the most common deals throughout the industry.

I encourage you to take advantage of as many free betting opportunities as you can. This way, you’ll get more chances to earn free cash.