Free bets are one of the best rewards you can get while playing at an online sportsbook. They give you the opportunity to place any type of wager you want, for free. Here at Bet Station, we know there is no greater feeling than getting something for free, and that is especially true for the free bet. There are few opportunities in life where you have time to do something for free and have the chance to walk away with actual cash, but that is exactly what a free bet offers.
Just to summarize, a free bet is an opportunity to place a wager on an online sportsbook for free. That means you do not need to use any of your own cash. You can walk away with real money by wagering the sports betting sites’ own virtual currency. The beauty of the free bet stems from how common it is. Sportsbooks across the United States give out free bets to players every single week. Often, the free bet has little or no restrictions. You could place a moneyline bet on the NFL, a point spread bet on the MLB, or a future bet on the NHL.
If you’re wondering what is the downside or “the catch” to look out for when talking about free bets, the answer is the value. Sportsbooks give out free bets that range from $1 up to $20. That means you can bet a small amount for free, otherwise, you must use your own funds. If you place a bet with even odds and the value of your free bet was a dollar, you can only win one buck. You can not win the value of the free bet, you can only enjoy the winnings. Whatever sportsbook you join for free bets, ensure you read the terms and conditions.
What is a Free Bet?
A free bet is one of the best promotions on an online sportsbook, as it’s your chance to bet on a sporting event completely free. That means you do not need to stake any of your own money. Simply use the credit from the sportsbook. Think of it like a gift card. But, instead of you walking into a shop and buying a new item, you get to gamble it and turn it into cash.
Sometimes free bets are not completely free. This is where a sportsbook requires you to bet a certain amount to be eligible for a free bet. It’s quite common for sports betting sites to give players promos if they bet on a specific sporting event. Some examples of this type of free bet include a $10 free bet when you bet $20 on Monday Night Football. This promo is not just for football, sportsbooks like BetMGM and FanDuel offer free bets for the NHL, MLB, and NBA.
The reason this free bet is not completely free is that you had to make a wager to receive it. Some of the best sports betting sites, like Betway, give players a free bet every week without having to do anything special. Other sportsbooks can give you free bets to use on special sporting events. They can send these out via email or you have to opt-in on the mobile app. Overall, there are lots of ways to get free bets without having to spend a penny.
How Do Free Bets Work?
Free bets work just like regular wagers. You log into your sports betting service and browse for a wager you would like to bet on. Add your bet to the bet slip and then look for the free bet symbol. This varies with each sportsbook. Usually, it’s represented by an icon, like a present or a dollar symbol. If you are unsure about a free bet, contact the sportsbooks support system.
As we have alluded to above, that may not always be the case. There are some free bets which you can only use on select sporting events. For example, the new NFL season is fast approaching, and a sportsbook could offer you a free bet for next season. This is where they give you a free bet, but you can only use it on a three or more leg parlay on the first round of fixtures. You must meet the criteria to claim and use this free bet. Some free bets will have tighter restrictions than this, others will have none. That’s just something to keep an eye out for in the future.
Once you have placed a valid bet, you can only win the returns. Usually in sports betting, if you bet $5 on the Yankees and win $20 in profit, you will receive $25 in total. For a free bet, you do not win the value of the free bet back. That means if you have a $1 free bet or a $20 free bet, you can only win real money if your bet wins.
How to Use a Free Bet
If you sign into a sportsbook, it will often have two balances. One is your cash funds, which include your deposits and any winnings. The other would be for bonus funds, including deposit matches, free bets, and bonus funds. Sometimes, they store free bets separately from these balances and you can view them from inside the bet slip.
Once you know how many and what the value of each free bet is, you can then start using them. If they have no restrictions, you can go about your normal day. Find the bet you want, add it to the bet slip, and then just choose the free bet instead of your cash. If there are some restrictions around the free bet, you can normally find this out in the bet slip.
Remember, you can add your cash to your free bet, but you can’t reduce the size of a free bet. If your free bet is worth $10, then you have to place a ten-dollar bet. You can’t split it into two fives, you can only add to it with your own money. If the bet comes true, you will get the profit from the bet and the value of your wager; if you added to the free bet. This may sound confusing, but it’s all clear when inside the bet slip.
Free Bet Examples
You can receive free bets at most online sportsbooks in a variety of different ways. They can be given as a reward just for signing up or earned if you deposit a certain amount. Most of the time, the free bets you get while sports betting are yours to use on any game or sport your heart desires. Below are a few examples of how to get free bets on a sportsbook.
- 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 you risking your own money.
- Reward scheme: Some sportsbooks give players rewards points for every bet they make. Whether or not you win the bet, you can collect points towards free bets, odds boosts, or even discounts for holidays.
- Marketing preferences: The best sportsbooks and online casinos send players freebies via email. You need to opt-in for marketing communications in your account settings to get these free bets.
- Bet X: 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 to use for free, but you had to spend to earn it.
- Birthdays: When you sign up for an online sportsbook, you must put in 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, depending on how you use the wager. You could relish the freedom and bet on something you wouldn’t usually bet on. Or you could treat it like real cash and spend it wisely.
Since the bet cost you nothing, the temptation is to seek as high returns as possible. If you have a $1 free bet, then 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 easily 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 those huge 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 and the returns are lower than what you expected. A free bet is a perfect way to improve your returns without adjusting your prediction or increasing your stake. Simply add your own stake to the free bet to increase the returns. 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, you might want to know when the best time to place a free bet is. Well, we don’t have one golden rule to follow for placing a free bet, but we have some advice.
- Take your time: Whenever you go to 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 the results you want. Instead, take your time, look around, and find a wager that has a good chance of coming true.
- Consider the odds: This depends on the size of your free bet, but you want to make wagers that have good returns. If you have a low-value free bet, then losing it shouldn’t matter too much. This means you could take more of a risk with a bet that has higher returns. If you have a free bet worth $25, then you should 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 $0.
- 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. It’s not any different from a normal wager, just a pleasant surprise if it comes true!
Best Online Sportsbooks for Free Bets
Almost every single online sportsbook has free bets for you to enjoy, but which ones are best? Below is a list of three of the best online sportsbooks for free bets. For more information about a sports betting site’s availability, be sure to check our betting guides, such as the New Jersey, Michigan, and Illinois best sportsbooks. Each sportsbook is available in a different number of states. Be sure to check before you try singing up!
PointsBet has a fantastic rewards system where you can claim free bets. Every time you make a wager, you earn PointsBet rewards points. For the best returns, parlays and PointsBetting wagers are worth more than your standard bet at this sportsbook. For every 250 reward points you collect, you can redeem a $2.50 free bet. You can save your points for higher value free bets.
If you are looking to get free bets more regularly, then WynnBET is here for you. The welcome offer alone gives you $200 worth of free bets when you make your first $50 bet on any wager with odds greater than -120. Any existing players can get free bets from the promotions page. They usually have a variety of free bet promos on offer. One popular promotion at WynnBET gives you a $20 free bet. All you have to do is make two $50 bets on any live sport; a sport that is currently underway. There is another promo for a $10 free bet, where you need to place a four-leg parlay anytime between Thursday and Saturday. Finally, they have another free bet you can claim weekly. Simply bet $50 between Monday and Friday and enjoy a $10 free bet.
Another fantastic sportsbook for free bets is BetMGM. They regularly have new and exciting promos which often give you free bets. This can include big moments in the season, such as the playoffs, or something to help your average weekly bet. One such promotion you can get at BetMGM is a free bet worth up to $20 if you bet on the first innings to have zero runs in the MLB, and it loses by one. This promo is only active for baseball games on a Friday, which is why it’s important to read the fine print.
When you join BetMGM, you get to collect rewards credits. The more credits you collect, the bigger your free bet bonuses become. You can get a $5 free bet on your birthday and the anniversary of when you made your first bet with BetMGM. At the top level of the membership scheme, you could get $200 worth of free bets for both events, every year.
Free Bet Summary
That concludes everything you need to know about free bets. Just as a quick recap, free bets are your best opportunity to make actual cash without having to spend any of your own money. We can’t guarantee anything. It’s just an opportunity to win and 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, sportsbooks 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.