Sports Betting Promotions
The competition among operators of sportsbooks has never been as intense as it is these days, that means the customers can benefit of many kinds of promotions and bonuses including deposit bonuses and when it comes to casino sites things like free spins too.
Some promotions, however, come in the form of free bets and depending on the situation that could mean different kinds of advertisements.
Let’s have a look at the most common kinds of free bet promotions and how to use them to enhance your chances of profiting when betting on sports:
Cashback or Refunds
Some operators have promotions that encourage bets with no risk, and they usually have to do with prestigious sports events or the first bet of a new user at a website.
The way these promotions work is as simple as it sounds: the user may be allowed to place a free bet with no risk. However, conditions may apply as the sportsbooks want the potential new customers to engage with the website and test their functionalities. The site may force the user to make a deposit and place real bets that have nothing to do with the risk-free bet. Others require the money to be kept for a minimum amount of time at the website before a withdrawal request, so make sure you understand what the requirements to earn a refundable bet are.
Some sites also offer cash back that works differently in comparison with credit card promotions. For example, the cashback in the world of gambling usually means that part of the loss of a bet is refunded – it should not be confused with the cashing out feature which is a form of a hedge or early profit feature.
These promotions aren’t exactly free bets, but in a way they are, the augmented odds allow the user to bet with unnatural odds considering the current situation of the markets, the net result is a winning chance that is not proportional with the perception of risk of the market.
Enhanced odds are typically offered to new users for prestigious events like finals of big tournaments like the UEFA Champions League of the FA Cup.
Free Money to Bet
When it comes to the world of sportsbooks, the most common form of free resources to bet are the deposit bonuses. A punter can deposit an amount of money to bet, and the house matches the deposit and adds extra funds to the balance of the user, which means these promotions can enhance your gaming budget.
Please note that any promotion has wagering terms, i.e. requirements that must be met for the benefit to be allowed to be used in full.
The promotions often allow the punters to use the money in the websites. Still, when requesting a withdrawal, the criteria are analysed, which means you must be aware of them before you interact with the website.
Another rare form of promotion would be the free deposit which is a small sum of money to bet before depositing money at the website. These promotions, however, are more common in the casino industry which is closely related to bookmakers.
The free deposits may require a deposit at some point to withdraw winnings that derive from the free bet(s). Please note that wagering terms can be very different depending on the bookmaker. Make sure you choose an operator with realistic terms; otherwise, you will only be betting with virtual ‘make-believe’ funds that won’t ever become ‘real-life money’.