To attract new players, bookmakers use different marketing tools. One of them is a free bonus or free bet (from the English ‘free bet’ – ‘free bet’). This tool uses it, and how the bookmaker and the player benefit from the free bonus, you will learn from this article.
A free bonus is a money that a bookmaker gives out to a player to bet on this amount. The player’s benefit is that he doesn’t lose anything if he fails. However, if the player wins, he receives only his winnings, and the free bonus goes back to the bookmaker. In turn, the bookmaker’s benefit is that he attracts a new client and what conditions he offers for using the free bonus.
A free bet is not real money but can only be used for a chance, unlike, for example, a cash bonus.
Let’s say a player receives a free bonus of $ 40. He places a bet on a sporting event with a coefficient (let’s say 2.5). If its a win, the player gets 60 USD: (2.5 x 40) – 40 = 60.
Thus, the winning amount remains the same as if the player had bet on his cash, but he does not risk anything on the flip side. However, there are pitfalls here.
What can be the conditions of Free bets?
To receive a bonus, a player often needs to submit an appropriate application. In response, the bookmaker may require you to register, provide the necessary information, deposit a certain amount, etc.
Also, to withdraw the bonus, sometimes you need to wager according to the bookmaker’s conditions. For example, a bookmaker may require a player to bet at least a certain amount, at specific odds or on a particular sport or event. The bookmaker himself determines the conditions; therefore, these conditions also affect the player’s option.
For instance, let’s consider an example of possible conditions for receiving a free bet. Let’s say, according to the requirements, a player must deposit $ 10, after which he gets a free bonus. However, to use it, the player must make five more bets with odds 2, 8. In an unfortunate scenario, he will lose $ 140, although initially, he came because he wanted to bet for free. However, the alignment will not necessarily be that way. The free bet has therefore done its job – it has attracted a client.
This is why paying attention to the rules of free bonuses is essential for both gamblers and bookmakers. After all, a one-time benefit of a bookmaker may eventually result in the loss of a player.
Separately, it is worth mentioning the withdrawal of funds received through Free bet. You can withdraw the pool only after all conditions are met. If the player tries to withdraw before the requirements are met, the bonus will be canceled.
The terms of bonuses may also depend on the reason for which they are issued.
What are Free bets?
Usually, the player is offered a free bet in the following cases:
- when registering on the site
- at the first replenishment of the deposit
- once in a particular period (once a month, etc.)
- if a specific event takes place
- at the first bet made from the mobile application
- There may be other options – the bookmaker decides when to use the free bet.
Free bets advantages
In general, the following advantages of using free bets can be highlighted:
For the player:
- No risk bet
- An opportunity to evaluate the game in a new bookmaker’s office
- A chance to try a new betting strategy
- Also, due to increased competition, bookmakers began to offer more generous bonus terms.
For the bookmaker:
- The ability to attract new players
- Retain existing players
The current state of affairs
In 2021, free bets are still the current betting trend. However, the world of betting is changing, and new trends are emerging.
For example, the ‘Request a Bet’ option has been added. The point of this promotion is that the bettor can choose their markets and contact the bookmaker via social media or other means to place or accept bets.
Another new trend is Social Betting / Challenges. In this case, sports sites challenge their readers to achieve specific sports goals. This can also be done simply with friends.
By and large, new trends include increased use of social media. Networks, while old trends, allow players to get free bonuses.
Also, operators often issue free bets for eSports events and promote their platforms‘ mobile component, offering bonuses to those who register from smartphones. Thus, simply by going to the site from a mobile device, you can receive any reward, as well as a free bet for esports.