Free bets are the best rewards you can claim at an online sports betting site. They allow players to place wagers without the consequence of losing money. Instead, you get to place a bet using a bet coupon. Any money you make from the free bet is yours to keep and withdraw.
Whether you are joining a sportsbook for the first time or want a refresher, Bet Station has got you covered. Below, we have a detailed explanation of free bets with various examples. While free bets offer a unique opportunity to use a sportsbook with less risk, you still have to choose a wager. If you are unfamiliar with point spreads or prop bets, we recommend you read our other guides.
Some sportsbooks are fantastic for players looking for free bets as they hand out promotions regularly. However, every service is unique. Some will only give players bonuses when important sporting events take place. Plus, there is no guarantee that the promos will be free bets. If you want to join the most consistent sportsbooks for free bets, ensure you read to the end.
What is a Free Bet?
A free bet is one of the best promotions, as it’s your chance to wager on a sporting event with no financial risk. That means you do not need to stake any of your money. The sportsbook has given you a gift card to use on any wager. If you win the bet, they give any winnings to you as cash. That means you can use them to bet or withdraw your money.
Some sportsbooks require players to make a wager and, in return, they will receive a free bet. It’s common practice across America, but it does not change the promotion. The free bet you receive will not cost you any money to use, but it may expire. This is where you will have a seven-day period to use the free bet or it will expire and disappear.
Another way sportsbooks may limit your access with a free bet is to restrict the wagers on offer. Say you bet $20 on the MLB to receive a $10 free bet. They could restrict this wager to just MLB games. That means you won’t be able to use a free bet on any other sport besides baseball.
How Do Free Bets Work?
If you have ever placed a wager on a sportsbook, a free bet is no different. You browse for a bet you want to place and then add it to the bet slip. From here, you can use a free bet instead of any funds you have deposited into the account. The free bet symbol varies in each sports betting site, but they often use a dollar symbol. If you need any assistance, contact the sportsbook’s support team.
We recommend all players read the terms and conditions of any promotion they claim. This is where you can find out whether the free bet has any restrictions. The sportsbook may only allow a free bet to be used for certain wagers, such as parlays. Or they could lock it to a certain sport, such as football.
Before you place the bet, you should know about the returns. Usually, when you bet at a sportsbook, you win your stake plus any profit. The amount you win depends on the size of your stake and the odds of the wager. However, for free bets, you can only win profit. The value of the free bet is like a coupon, and you cannot redeem it.
How to Use a Free Bet
If you sign into a sportsbook, it will have two balances. One is your cash funds, which include your deposits and any winnings. The other is for bonus funds, including deposit matches, free bets, and bonus funds. Sometimes, they store free bets separately from these balances. You can view them from inside the bet slip.
Once you know the value of each free bet, you can then start using them. If they have no restrictions, you place your bets as normal. Find the bet you want, add it to the bet slip, and choose the free bet instead of your cash. If there are some restrictions around the free bet, you can find this out in the bet slip.
Remember, you can add cash to your free bet, but you can’t reduce its size. If your free bet is worth $10, then you must place a ten-dollar bet. You can’t split it into two fives. Adding your funds to a free bet is not always worthwhile, but it can help your returns if you are betting on something with low odds.
Free Bet Examples
There are multiple ways to receive free bets at online sportsbooks. Players can get free bets as a reward for signing up or when they make a qualifying deposit. Below are some examples of how you can get a free bet.
- Welcome bonus: Sports betting sites often give new players free bets to help you get started. It’s a great way to get used to gambling, as it does not involve risking the money you deposited.
- Reward scheme: Some sportsbooks give players reward points for every bet they make. Whether or not you win the bet, you can collect points towards free bets, boosts, or other prizes.
- Marketing preferences: The best sportsbooks and online casinos send players freebies via email. You must opt-in for marketing communications in your account settings to get these free bets.
- Bet X to receive Y: Online casinos and sportsbooks often give players a free bet if they meet certain conditions. Bet $10 on this game for a $10 free bet. Or put a wager on a specified game, and each touchdown or home run gives you one free bet. This method is quite popular as you get something for free on an event you might bet on.
- Birthdays: When you sign up for an online sportsbook, you must enter your birthday. The best sports betting sites will reward players with a free bet on their birthday or on the anniversary of when they signed up.
How do you Win Free Bets?
There is no secret to winning a free bet; it just requires some luck. Free bets work just like any other wager you would make. Do some research, find a bet, and place it. The only difference is you did not have to risk any of your money. That can be a blessing or a curse. You could relish the freedom and bet on something you wouldn’t usually bet on. Or you could treat it like actual cash and spend it wisely.
Since the bet cost nothing, the temptation is to seek as high returns as possible. If you have a $1 free bet, you might as well go for broke. But if you have a bet worth ten bucks or more, then it makes sense to play it safe. You could turn your ten-dollar free bet into forty real bucks. Don’t always try to get those gigantic returns, especially since you are simply trying to turn free money into actual cash. You can always risk your profit for large returns if you win the wager.
Also, you don’t have to use free bets by themselves. Say you were going to build a parlay for a mixture of NFL games, but the returns are lower than expected. A free bet is a perfect way to improve your returns without adjusting your prediction or increasing your stake. Plus, you can also use free bets for big sporting events like the Super Bowl or Stanley Cup alongside your existing wagers.
When to Place Free Bets
If you are new to sports betting, timing and research are the most important factors when placing a wager. We don’t have one golden rule for placing a free bet, but we have some advice.
- Take your time: Whenever you place a sports-related wager, take your time. Rushing into a decision when gambling often leads to regret. Do not make impulsive quick-fire decisions with your cash, as it is unlikely to yield great results. Instead, take your time, look around, and find a wager that looks more likely than the rest.
- Consider the odds: This depends on the size of your free bet, but you want to make worthwhile wagers. If you have a low-value free bet, losing it shouldn’t cause you sleepless nights. This means you could take a risk with a bet with higher returns. If you have a free bet worth $25, play it safe. You are better off turning that cash into $50 that you can withdraw, rather than risking it for hundreds and ending up with zero.
- Enjoy it: Free bets are exactly that, an easy way to make a bet with little to no risk on your behalf. So, enjoy it! Don’t beat yourself up if the wager does not come true. It was never your money in the first place. Have a think, do some research, and then place the bet.
Best Online Sportsbooks for Free Bets
Below is a list of the best online sportsbooks for free bets. In case you did not know, each service fluctuates over the consistency of its promotions. That means not only will sportsbooks differ from each other, but the same service will have different promos in each state. If you want to learn more about a specific state, check out our state betting guides. You can find detailed breakdowns of each state, such as New York, Kansas, and the best Illinois sports betting sites.
If you want to get free bets as regularly as possible, BetRivers is a fantastic option. They are one of the most active sportsbooks for promos. There is always something for players to claim, including free bets, bet insurance, and a range of other promotions. Sometimes, the free bets are exclusive to specific sports. For example, betting on the MLB will give you a free bet for the next round of MLB fixtures.
BetMGM is another excellent sportsbook for free bets during the season. However, after the Super Bowl and NBA Finals, the number of promos on offer declined. Instead of providing a free bet every week, the promotion only appeared for important sporting events. That meant the overall number of bonuses decreased and you would have to wait for golf majors or tennis tournaments for a free bet.
Plus, BetMGM has an exciting reward system for loyal players. Whenever you place a bet, they give you credit for various prizes. Besides the rewards, they give you a $5 free bet on your birthday and the anniversary of your first bet with BetMGM. At the top level of the membership scheme, you could get $200 worth of free bets every year.
If you want to receive free bets regularly, WynnBET is here for you. Usually, they offer players several ways to get free wagers. However, these promotions often require you to bet on certain events at specified times during the week. One example is to make three live bets on the weekend. Plus, WynnBET members can exchange reward points for free bets of increasing size. You can save up for a free bet worth $150 or claim several five-dollar wagers.
Free Bet Summary
Free bets are your best opportunity to make actual cash without having to spend any money. We can’t guarantee anything. It’s just an opportunity to win, but you will still need plenty of luck!
Almost every single online sportsbook gives players free bets. It just varies in how often you can get them. FanDuel is not shy about promotions around big events, but getting a free bet every week is less likely. Whereas, betting sites like Betway give players a free bet every single week. Other sportsbooks like WynnBET give you lots of different ways to get a free bet, but they usually require you to bet on certain events.