In a very competitive online betting marketplace, bookmakers are always trying to attract new users. To do this, they offer free bets, bonuses or other incentives to entice users to place their next bet(s) with them. There are multiple different types of promotion that are offered by bookmakers and it’s certainly worth knowing which is which so you aren’t left disappointed when your bonus pay out is less than you thought (or even worse, it doesn’t come at all).
So, first thing first, what is a Free Bet? Well, it’s quite simple really – upon signing up to a new bookmaker, you unlock the ability to access their sign up bonus, often a Free Bet equivalent to your first deposit (or up to a set value). For example “Bet £50 and receive a £50 Free Bet”. You will almost always need to deposit and bet your own real money first in order to unlock the Free Bet.
There are three types of Free Bet offered by online bookmakers:
Stake Returned Free Bet
Not overly common nowadays, but they are still available and the way stake returned free bets work definitely makes them worth looking for. It’s very simple to understand this free bet type, as it works exactly the same as a regular real money bet. If you place a Stake Returned Free Bet of £25 at odds of 2.00 (evens) and the bet wins, you will receive £50 in your betting account, £25 profit and the initial £25 stake. Simple!