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I’ve been busy getting familiar with some of the best free bet offers and have decided to dedicate this guide to running you through the basics.
The term “free bets” is thrown around quite loosely. However, it is important to understand the difference between genuinely free bets and those that require certain tasks, deposits, or limits. Here you’ll discover more about the different types of sportsbook bonuses, the importance of wagering requirements, and how you can redeem your offers.
A free bet refers to any of those top sportsbook bonuses that can be added to your account allowing you to make a wager using house money. Usually, these will be released as part of the sign-up bonus, released as a reward for reaching a certain milestone, or gifted to you as a prize for entering an online giveaway.
With that being said, “free bets” is a term that is bandied around fairly freely. In certain instances, these bonus bet tokens may be added to your account for successfully depositing and playing through a promotion. As you can see, these aren’t completely free bets; however, they will often be categorized as such. This is because the original stake is usually not returned in the event of a winning bet. So a winning bet at +500 becomes a +400 when you consider the total payout. Of course, the sports bettor is not losing anything by playing with free bets, but this is a key distinction.
You’ll now realize why it is so important to understand the different types of betting sign-up offers presented to you. A no-deposit bonus is a genuine free bet offer that allows you to add bonus bets to your account without ever making a purchase. However, a first bet offer requires you to make a deposit and have your first bet fail before any bonus bets equivalent to your first stake are returned.
Now that we’ve clarified exactly what free bets are, you’ll be keen to pick up some of this betting credit. So here are three top sportsbooks who can be counted on to serve up some eye-watering promo offers:
Everyone knows that DraftKings is one of the biggest sportsbooks in the US, so it’s only fair that it would have lots of promos for new and existing customers. Take the brand’s welcome offer that will simply give you $150 in bonus bets just for you signing up to its site and then betting $5. That’s right, just bet $5 and you’ll instantly get $150 in bonus bet tokens. That’s one of the leading betting sign up bonuses on the market.
However, the fun doesn’t stop there because DraftKings has plenty of other ways to pick up bonus bet credit. One of the best ways of doing this is via the VIP program, although you will also find its Promotions page regularly topped up with profit boosts, jackpot pools and a whole lot more.
Multiple betting options. 20+ sports represented. Solid welcome bonus. 1x Bonus. T&Cs apply, 21+
You can rely on FanDuel to serve up lots of bonus bet deals. Things start off great thanks to the brand’s welcome offer. This will simply give you $200 in bonus bet credit if your first sportsbook bet of $5 or more wins. From here, you will be able to use all of those bonus bets on anything from massive showdowns in the NFL and NBA through to the most obscure sporting events.
There are plenty of deals for existing customers too with a nice line in profit boosts and same game parlays. What’s best is that FanDuel is available in the majority of states where sports betting is legal which means that you’ve got a good chance of getting lots of bonus bets.
Generous bonus bet. Huge variety of sports to bet on. Trusted, reliable brand. 1x Deposit. T&Cs apply, 21+
Trust Caesars to put on a deal that gives you lots of bonus bets in a slightly different way. Here you just have to sign up to its online sportsbook for the first time and if your first bet loses, Caesars will refund your stake by 100% up to $1,000. This means that you could have a total disaster and then get those bonus bet credits to enjoy some more betting.
It’s also worth noting that Caesars has a great loyalty scheme called Caesars Rewards. This could give you everything from bonus bet tokens through to some particularly lavish real-world benefits. So sign up to Caesars and see what you can win.
Generous welcome offer. Daily Odds Boosts and Profit Boosts. Good variety of markets for popular sports. 1x Deposit. T&Cs apply, 21+
Now, I want to take some time to highlight a few differences between no-deposit bonuses, bonus bets, and various other offers:
The no deposit bonus releases free bets into your account without ever needing to make an actual deposit.
A no deposit bonus is suited to just about any sports fan; however, some of the best sportsbooks for UFC bettors tend to capitalize on these promos. Primarily, this is due to how quickly the outcome of a bout can change.
The no deposit bonus allows you to test the waters and learn how to place your bets without risking any of your own bankroll. However, should the outcome of your bets go against you, you’ll find that you haven’t dented your own cash balance – ideal for something as unpredictable as MMA.
No deposit bonus offers are usually found at the sign up stage, although at the moment they are rare in the US market due to the huge value in the regular welcome offers. They are also far smaller than the deposit match and may have some pretty steep wagering requirements attached.
The first bet offer presents you with the chance to receive bonus bets back into your account if your first bet loses. The idea is simple enough: If you win, you’ll leave with your winnings. If you lose, you will receive your first stake back in bonus bet tokens. This is the type of welcome offer currently in place at Caesars.
Usually, this promotion is aimed at new users, providing you with the chance to get familiar with the site backed by a little insurance. As we all know, regardless of how much football, esports, basketball, or baseball news you take on board, predicting the outcome of upcoming fixtures is never an easy task. Remember though, that even though your initial stake is added back into your account in the event of a loss, free bets or bonus credits are not the same as having that wager back in cash.
You’ll find that bonus bets are the most common type of bonus aimed at returning players. Usually, bonus bets can be unlocked by completing specific tasks online, like entering social media giveaways, landing on the leaderboard of a weekly tournament, or by levelling up through the rewards program. Once you reach a certain threshold, a free bet is added to your account. Most will not require a promotional code to unlock them, but you may be expected to opt into promotions prior to receiving free bets in this way.
The online sportbsook market is hyper competitive at the moment with sports bettors in the majority of states having a wide choice of sites to choose from. To encourage players to keep wagering with them, brands are rolling out these type of promotions in an attempt to build loyalty. If these free bets occur as a result of your normal playing style, they can be a great added benefit.
The refer-a-friend bonus is a staple found across baseball betting sites, football sportsbooks, and just about any other sports betting platform in between. Again, the idea is simple enough, requiring you to send your unique referral code to a friend. Once your friend or family member has then used your code to register, they’ll be expected to pay a qualifying deposit before you can receive your bonus bets.
| Free bet bonus | Deposit required | Bonus code required | Wagering requirements |
|---|---|---|---|
| No-deposit bonus | No | Likely | High |
| First bet offer | Yes | Likely | Low |
| Bonus bets | No | No | Low |
| Refer-a-friend bonus | No | Yes | Low |
These questions are well worth answering before you opt-in and unlock any betting offers:
This is the most important factor when considering free bet offers. Typically, because you’re playing with house money, only the profit on a wager will be credited back to you, the stake isn’t included. For example, if you stake $100 free bet on a winning bet at -110, you’ll get back a total of $90.91, whereas if this bet had been in cash, it would return $190.91.
The best free bet offers are legitimately free to release. However, some will require you to make a deposit before they are unlocked. If you are after a true free bet bonus, you’ll likely need to opt in, enter a promo code, or verify your account only.
Due to the very nature of betting bonuses, you’ll find that wagering requirements will vary considerably. Some that are released for working your way through the rewards program may come with something as simple as a 1x playthrough; however, any free bets released as part of the no-deposit bonus may extend up to 50x.
You’ll also want to consider how long you have to play through your bonus, too. Sure, a 50x wagering requirement isn’t really what you’re after; however if you have 50 days to meet the requirement, it may still be worth taking a look.
Most sportsbook offers will come with specific terms and conditions attached. Usually, this will include a selection of markets that are considered ineligible. Before you start working through some top football news stories, make sure that the NFL, NCAAF, and CFL are covered.
While looking at markets, you’ll also want to consider the minimum odds requirements. Although not directly related, higher minimum odds will minimize your chances of using your bonus bets on the favorite as an outright winner. Instead, you’ll then need to consider proposition bets, like betting on the first touchdown scorer.
Although you won’t be expected to make a qualifying deposit, a true free bet offer may require you to enter a promotional code. The promotional code allows an online sportsbook to differentiate between the various bonuses on offer and credit you accordingly. When working your way through our dedicated reviews, you’ll find that all of this information regarding promo codes is readily available to you.
You’ll need to keep a look out for any additional terms that could have an effect on the overall bonus experience for you. For example, it is important to understand that most bonus bets will become void if they are cashed out or if the outcome results in a push.
Another thing to bear in mind is that you may not be able to unlock additional promotions at the same time. If this is the case, any ongoing promotions will void your progress, and any eligible bonus bets will be removed from your account.
With various terms and conditions to factor in, here’s a look at some of the best strategies when you have a free bet available from an online sportsbook.
This may seem a little counter intuitive but being more aggressive when you have free bets available makes a lot of sense for many sports bettors. This is a chance for you to play with house money so opting for a selection that will return more is a strategy that should serve you well over the medium and long term. This isn’t a reason to chase very unlikely wins or change what you bet on, but more how you bet on it.
The free bet stake won’t be returned anyway, so opting for heavy favourites or short priced selections will limit the amount these free bets can yield. Let’s say you think a running back is a solid bet to score a touchdown at -120, this is great but a $100 free bet will only return you $80. If you believe the 2 or more TD line is also overpriced at +600, that $100 free bet would pay out $500 in profit instead. You may – and will likely – have fewer winning selections when being more aggressive with the prices you’re betting, but when a pick hits, it will pay out more.
Free bets are great tools for the modern sports bettor provided they are selective in their choices of how to deploy them. Free bet stakes aren’t returned, so unlike a cash bet that results in a push, you wouldn’t get another free bet into your account to use again. In free bet terms, a push is essentially a loss for the bettor so avoid markets where this is a possibility. If you’re betting the favorite on the spread, take the alternate spread -7.5 line at a bigger price instead of -7, it may lose, but if it landed on exactly 7 you wouldn’t see a return anyway.
Online sportsbooks handle cash out differently when it comes to free bets. Some may opt to simply suspend the cash out value until the bet outcome is known. This means you won’t have the option to cash out, it’s like a bet in the pre-internet era, it wins or loses.
However, some betting sites will offer cash out on wagers made with free bets but this won’t show as an option until the current valuation of the free bet has passed the threshold of the original stake. For example, you make a $100 free bet wager at +550, the likelihood is that cash out wouldn’t be available until the current value of the bet reaches $200, keeping in mind the sportsbook’s house edge applied to the cash out calculation of course. Even then, the value will be lower than if you’d made the bet in cash because they wouldn’t pay out the stake portion of the wager.
It’s not impossible to cash out free bets for a profit, but your valuations will be lower if they are available so keep this in mind. In some instances, it may be the better decision to simply let the bet reach it’s conclusion on this basis.
On the rare occasion that you’re utilising a free bet for a large-scale potential win, keep in mind that there could be a maximum win limit applied. This limit is likely going to be lower than the maximum payout if you’d been using cash so it’s always worth reading the terms and conditions.
For example, the max payout on an NFL spread may be $20,000 at a sportsbook, but the free bet terms may dictate the maximum win possible using the bonus funds is $10,000 so stake accordingly. They will always defer to the lower payout in this instance.
Removing a leg from your parlay will reduce the overall odds but if you were already above the threshold for maximum payout, you’re taking on additional risk for no additional return.
Let us talk you through the process of releasing your first betting bonus.
Depending on where you live, the choice of free bets could vary. Even sportsbooks live in multiple locations across the country may have different free bets for players in each state. With such a competitive range of promotions available to sports bettors in 2024, making an informed choice about where to play can help tilt the odds in your favor. Free bets aren’t just available upon registration, getting on board with the best loyalty program can help grow your bankroll across the season. Use our guides to put yourself in the best position when it comes to free bets and all other promos.
Hopefully, you now have a better understanding of how free bets work. You’ll find that you can pick them up at the sign-up stage, as part of an ongoing promotion, or for simply completing certain tasks.
Don’t be fooled by bonus bets – these promos are sometimes branded as giving you free credit; however, they often require a deposit or a certain amount of wagering to take place before they are officially released. A true free betting bonus, on the other hand, can be yours by simply opting in, entering a promotional code, or verifying your identity when you sign yourself up.
When it comes to finding the best promo offers, we take the stress away from you. In fact, you can familiarize yourself with some of our favorites by checking out the banners on this page.
Betting bonuses come in various shapes and sizes; however, true free bets will be completely free to release. This means things like no deposit sign-up offers and bonus bets received by entering giveaways, referring friends, and landing on tournament leaderboards.
Yes. Many of the best sports betting sites will allow you to fly through the registration process and ensure that you can begin playing with your welcome bonus almost instantly.
Free bets work in a very similar way to any other bonus that you may come across. The only additional perk is that you aren’t required to make a deposit in order to release it.
Absolutely. There is no reason why you can’t look to add these deals to your account through your mobile phone.
Unfortunately, there are no guarantees when it comes to playing through your bonuses. With that being said, you can still walk away with winnings from your free credit. Should your wager win, you’ll walk away with all winnings minus your original stake.
