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Free bets are a popular incentive offered by online bookmakers to attract new customers and reward existing ones. These offers provide bettors with the opportunity to place a wager without risking their own money. In this article, we will delve into what free bets are and the different types of free bets available in the market.
What are free bets?
A free bet is a type of promotion offered by bookmakers to customers. These offers allow customers to place a wager without depositing any money. If the bet wins, the customer will receive the winnings, but not the original stake. If the bet loses, the customer does not lose any of their own money.
Types of free bets:
Matched free bets:
Matched free bets are one of the most common types of free bets offered by bookmakers. The bookmaker matches the amount of the customer’s first bet up to a certain value. For example, if the customer places a £20 bet, the bookmaker may offer a £20 matched free bet. If the customer’s bet wins, they receive the winnings but not the original £20 stake. If the bet loses, the customer does not lose any of their own money.
Risk-free bets:
A risk-free bet is another type of promotion offered by bookmakers. With this offer, the customer places a bet and if it loses, the bookmaker refunds the stake up to a certain value. For example, if the customer places a £20 bet and it loses, the bookmaker may offer a £20 risk-free bet. If the customer’s bet wins, they receive the winnings, but not the original £20 stake.
No deposit free bets:
A no deposit free bet is an offer that does not require the customer to deposit any money. The bookmaker may offer a certain amount of money for the customer to place a bet. If the customer wins the bet, they receive the winnings but not the original stake. If the bet loses, the customer does not lose any of their own money.
Enhanced odds free bets:
Enhanced odds free bets are promotions that offer better odds than the regular odds for a specific event. For example, if the regular odds for a football match are 2/1, the bookmaker may offer enhanced odds of 5/1 for a limited time. The customer can place a bet on the enhanced odds and if the bet wins, they receive the enhanced winnings, but not the original stake.
Loyalty free bets:
Loyalty free bets are offers that bookmakers provide to their existing customers. These promotions may be offered on a regular basis or as a reward for loyalty. For example, a bookmaker may offer a £10 free bet for every ten bets placed.
In conclusion, free bets are a great way for bookmakers to attract new customers and reward existing ones. Understanding the different types of free bets available can help bettors choose the best offer for their needs. Whether it’s a matched free bet, a risk-free bet, a no deposit free bet, an enhanced odds free bet, or a loyalty free bet, these promotions offer a great opportunity to bettors to enjoy the thrill of betting without risking their own money.