A free bet is a bet for which the bookmaker pays the stake. Free bets are generally used as a promotional strategy to attract new customers. Online bookmakers offer free bets when they opens a new account with them. It is an opportunity for the customer to place a bet without any risk of loss. The customer gets paid the net winning amount if they win the bet. The major difference between a free bet and a regular bet is that you do not have pay for your bet. As you do not pay the stake amount, you only get the net amount if you win the bet.
How can you qualify for a free bet?
- Many online bookmakers offer their customers the opportunity to place free bets by opening a new account with them for betting. If you wish to enjoy the benefits of free bits, you should sign up with an online bookmaker.
- The bookmakers ask for some personal details of the customer during signing up a new account. They offer free bets to the customer only after you have verified the details.
- The customer is then required to register a valid payment method to make an initial deposit in the account.
- The customer should then use the fund available in the account to place a bet on a sports event. The value of the stake will determine the amount that you are given as a free bet.
How to use free bets?
- Double your bankroll: This is one of the easiest methods of using your free bet. If you have a betting mind, you should be smart enough to place a bet with a bookmaker who would offer you a free bet.
- Hedge a bet: You can test your betting mind by using your free bet on another mode of betting, i.e., hedge. Here, you can place a bet on one party and then use your free bet for placing a bet on another party as a backup. This will increase your chances of winning.
- Convert free bet to money: Another method of using the free bet to your benefit is matched betting. You are guaranteed a profit out of matched betting irrespective of the outcome.