Many bookmakers have been offering free bets and bonuses in the hope of new customers.
It doesn’t matter whether it’s bookmaker or the bettor – almost everyone strives to gain profit. In fact, you’ve also arrived here to stay on the profitable side.
Most of the noob betters think whether bookmakers really offer what they claim. Well, the answer is yes.
Yes, if you do it right. A free bet can be considered as that opportunity where you can place a bet without risking your money.
The main difference between a regular bet and the free bet is – In free bets, the stake isn’t yours. If you win, you won’t be refunded along with the winnings.
In this guide, we’re going to reveal the ins and outs of free bets and bonuses. Stay tuned!
Why Bookies Offer Free Bets and Bonuses?
This question can be answered in one word – ‘profit.’
In such an expensive world, nothing comes for free. Although you can use utilize free bets as an advantage, a catch is associated with it.
Some bookmakers allow you to claim a bonus without a deposit while some don’t. Either way, they get a new customer, who help them earn money. And yes, this is the catch.
What Are Different Kinds of Bookmaker Bonus Bets?
Bonuses and free bets arrive in several formats. Let’s show you the variation.
1. Matching the Stake
It’s one of the most common types of bookmaker bonus. When you place a bet with your new account, bookie matches your first bet and provides double the stake of your bet.
We can also say that if you place a bet of $25, the bookie will match the stake with a bonus of $25, which ultimately results as the total stake of $50.
Generally, you’re allowed to find the minimum stake to be matched from $5 to $25. Besides, the minimum odds required to be bet should range from 1.50 to 2.00.
2. Free Bet Series
It’s pretty much same like the first type of bet. The difference here is that instead of getting a lump sum bonus, your bonus comes in fragments.
Your bonus may appear like, bet $50 and get five or four $10 free bets.
Please keep in mind that these kinds of offers often come with time restrictions. Whatever you’ve today may not work tomorrow or the day after tomorrow. Bookmakers create such limits to make the customer repetitively visit their site.
3. Initial Deposit Bonus
These types of bonuses are not much common like the above two. However, there are still some bookmakers who offer this type of bonuses.
Typically, these offers look like as the % given on the initial deposit. For example, “receive 25% bonus on your deposit up to $100.
A minimum number of bets are floored by the bookmakers. Without placing them, you won’t be able to withdraw funds.
4. Winning 1st Bet Bonus
As the name suggests, if you win the first bet, you will get the bonus. For these kinds of bonuses, bookmakers reward bettors based on the odds they have chosen.
How to Squeeze the Most Out of Bookmaker Bonus
Alright! You must be thinking about signing up with a new bookmaker and get whatever they’re offering. Unfortunately, there are no such bookmakers who let you collect cash without placing some bets.
But don’t worry! We’ve mapped out a strategy that would let you take the full advantage of free bets. Just follow these steps.
Step 1: Create an Account with A Betting Exchange
Now you must be wondering – why it’s necessary to create an account with a betting exchange. A betting exchange may help you play the role of the bookmaker. With them, you won’t only be able to place bets but also lay them.
You can choose any betting exchange service to apply this strategy.
Step 2: It’s Time to Place A Bet
If you’ve chosen your bookmaker, then place a bet. Let’s suppose, you’ve added $100 into your account and received $100 as a bonus.
$100 + $100 = $200. Yes, this is what your account would have.
Theoretically, you can choose any sport you want. However, we recommend you to place a bet on major football league like the Premier League. Otherwise, you won’t be able to lay bet as per your choice.
Place a bet of entire $200 on Manchester and see the magic happening.
Step 3: Let’s Be A Rebel
Now, lay your bet opposing the first bet with Matchbook. If you were betting on Manchester, then go against it this time. Ensure that your odds come close with the bookmaker.
Here we’re considering the liability of $150. If Manchester wins, you will lose this amount with Matchbook.
You can regulate your “Backer’s Stake” as long as your liability doesn’t match the profit, you’re going to make from bookmaker bet.
Let’s compare both scenarios.
Scenario 1: If Manchester Wins
If the Manchester wins, no money will be left in the betting account. So, you can withdraw this transferred money from your Matchbook account whenever you want.
Scenario 2: If Manchester Loses or Draws
Although this is the least desirable outcome, it’s still not a disaster. Your profit will reflect on the betting account. We’re still even. There’s no loss!
You can use this method for almost every type of bookmaker bonus. Whenever you apply this, keep these two things in mind.
1. Your lay bet with your betting exchange must lie near to the bookmaker’s odds. It’s highly advisable to not experiment with this step. If you do, you’ll lose money.
2. The profit you get from your bookmaker must be equal to the maximum possible loss you incur from your betting exchange.
What May Go Wrong
Stay super alert while entering your bets. A little bit of error may result in a loss.
Error is related to numbers as well as options. If you choose “Manchester Win” option for both Matchbook and betting account, you’ll lose money.
In addition to this, you should also keep up with your bookmaker’s rules. This will help you prevent unpleasant events.