Online betting has exploded in popularity over the last decade. With so many sportsbooks competing for customers, lucrative signup bonuses and free bets are common incentives used to attract bettors. If you’re new to online wagering or simply want to take advantage of some extra value, understanding the different types of free bets available is key.
When used strategically, free bets can stretch your bankroll and give you more chances to win. However, it’s important to read the fine print to understand exactly how free bets work and any restrictions that apply.
Introductory Free Bet Offers
The most popular type of free bet offer is the introductory free bet you receive just for signing up at a sportsbook, such as Pame Stoixima. These offers usually match a percentage of your initial deposit up to a certain amount. For example:
- Deposit $100, get a $50 free bet
- Deposit $250, get a $500 free bet
The matching percentage and maximum free bet value vary quite a bit between sportsbooks. It’s always wise to shop lines to find the best current offers.
Introductory free bets are usually only available to new customers opening an account for the first time. You’ll only be eligible to claim the offer once per sportsbook. When weighing your options, make sure to consider factors like odds and markets offered in addition to the free bet amount.
Tips for Using Introductory Free Bets
- Look for free bets with the highest matching percentage – Some offers will match 100% or even exceed your initial deposit amount.
- Take advantage of multiple offers – Open accounts with several trusted sportsbooks to earn multiple introductory free bets. Just make sure to compare terms.
- Use free bets strategically – Place them on bets with the highest chance of winning rather than extremely long shots. More on strategy below.
Risk-Free First Bets
A risk-free first bet offer protects you if that initial wager loses. The sportsbook will refund your account with a free bet equal to the amount of the losing first bet.
For example, if you lose your first $100 fixed odds wager, you’ll get refunded with a $100 free bet. You get to keep any winnings if the first bet wins.
Tips for Using Risk-Free First Bet Offers
- Shop for the best odds – Use an odds comparison site to find the best price for your first qualifying wager.
- Bet an amount you’re comfortable with – There’s no need to bet more than normal just because the first one is “risk-free.”
- Take advantage of multiple offers – Open accounts with multiple trusted sportsbooks to claim risk-free bets.
Ongoing Free Bet Promotions
In addition to new customer offers, many sportsbooks run ongoing free bet promotions for existing customers. These usually center around major sporting events like the Super Bowl or March Madness.
Some offers will refund losing bets up to a certain amount in free bets. Others require you to opt-in and place a certain number of bets to earn a free bet.
It’s a good idea to follow sportsbooks on social media or subscribe to promotional emails so you don’t miss out on these periodic offers. The terms tend to vary quite a bit between sportsbooks and promotions.
Tips for Ongoing Free Bet Promotions
- Opt-in when required – Some offers require registering or opting in to qualify.
- Take advantage across multiple books – Earn multiple free bets by partaking in promotions at several sportsbooks.
- Pay attention to any minimum odds – Some offers will exclude very low-odds bets from qualifying.
Strategies for Wagering Free Bets
The central strategy with any free bet is to maximize your chances of winning so you end up with cold, hard cash – not just another free bet. Consider using the following tactics:
- Hedge your bets – Place your free bet on one side of a game or prop and use your cash to bet the other side at a different sportsbook. This guarantees you profit no matter the outcome.
- Bet favorites – Moneyline odds over -200 provide the highest probability of winning. Convert your free bet into the highest return possible.
- Use live betting – Wait for advantageous live odds and use your free bet with high confidence of winning.
- Take advantage of enhanced odds – Jump on special promos that boost payouts on certain wagers and use your free bet on those.
| Pros | Cons |
| Hedging locks in guaranteed profit | Won’t maximize free bet return if hedge side loses |
| Favorites have highest win probability | Lower payout than long shots |
| Live odds capitalize on advantages | Requires patience and timing |
| Enhanced odds boost free bet payout | Promos have strict terms |
The “right” play depends on your risk tolerance and bankroll strategy. Those new to sports betting should start conservatively with high-probability wagers. Veterans may use free bets on more aggressive plays with higher potential returns.
Common Free Bet Restrictions
While free dancing drums slot tricks offer extra value, sportsbooks don’t just give away money. Most free bets come with a variety of restrictions you’ll want to factor into your decisions.
- Minimum odds – Most free bets will exclude very low odds (e.g. -200 or less) since those are considered almost guaranteed winners. Sportsbooks don’t want to just give away cash.
- Bet settlement requirements – Free bets are usually restricted to single, fixed odds wagers that settle within a week or two. More complex bets like parlays and futures may not qualify.
- Time limits – Free bets often expire within 7-30 days if not used. Make sure to use them in time and pay attention to any other time restrictions that apply.
- Deposit/wagering requirements – Introductory offers may require you to deposit and/or wager a certain amount before withdrawing.
Be sure to fully understand the specific terms before placing a free bet. Reputable sportsbooks clearly list all requirements and restrictions in their promo terms and conditions.
Final Tips for Maximizing Free Bets
Here are a few final tips to help you make the most of free bets at online sportsbooks:
- Thoroughly understand all terms, restrictions and expiration dates before placing free bets.
- Compare offers between multiple sportsbooks – a bigger free bet isn’t necessarily better if the odds or markets are inferior.
- Start conservatively if you are new to sports betting. Focus on high probability wagers rather than long shots.
- Use odds comparison sites and line shopping tools to optimize the payout potential of your free bets.
- Take the time to calculate potential returns for different wager types and odds before using your free bet.
- Don’t let free bets expire! Sportsbook bonuses are meant to be used, so make sure to place them before time limits.
Used strategically, free bets can stretch your sports betting bankroll and give you extra chances to win. Just be sure to make informed decisions and wager responsibly no matter if you’re betting with cash or a sportsbook bonus.