You have probably heard about free bets or free wagers more than once, those offers that betting sites frequently launch to offer new incentives to their players. Let's get to know a little better what free bets are and everything that lies behind them, such as the different types of free bets that exist, how we can get them, the release methods available, and the pros and cons of these bets, which also exist and it is necessary to know before playing with our money.
Table of contents
What is a freebet?
As the name suggests, a free bet is a bet that is free of charge. It is a promotional tool used by betting companies, where they offer Philippines a free bonus to place a bet. Each free bet has a set value, and the key is that the user does not lose money while playing since they are technically playing with the betting company's money. All they need is win the bet so that the net profits become real balance. Free bets cannot be withdrawn.
The different types of freebet
It is the bookmakers who decide when and to whom to offer a free bet, and according to their origin we can classify them into up to 4 different types of free bets:
- Welcome bonus: some bookmakers offer free bets to new players who make their first deposit. In this case, the initial deposit usually determines the value of the free bets.
- No deposit bonus: there are betting houses that offer No deposit bonuses for new players to make their first bet, which is usually a free bet of the value they choose. Unlike the previous ones, no deposit is required.
- Promotional free bets: many betting promotions offer their prizes in the form of free bets, whether they are bonuses, combined refunds or when a specific result is achieved, etc. This is specified in the promotion terms and conditions.
- Loyalty Freebets: These are gifts from the betting house to players who have been inactive for a while, to encourage them to play again or to compensate those who have lost a considerable amount of money so they keep playing.
How to get free bets
Depending on the type of free bet you want to get, you will have to follow a certain method. In the case of a welcome bonus and a no deposit bonus, you can only get the free bet once (if your bookmaker offers it). To get free bets from promotions, you will need to pay attention to the different offers that the bookmaker launches. Some are regular, such as refunds for accumulators if you lose by only one result, while others are sporadic, such as promotions for major matches or events.
Here are some of the standout free bets available today from Sportium, Wanabet, MARCAapuestas, Circus, Betsson, and Versus:
According to article 13 of Royal Decree 958/2020, dated November 3, on commercial communications for gambling activities, starting 1, 2021, freebets will not be available until 30 days after registration, provided that your account is verified.
✅ We invite you to check out our ranking of best bookmakers.
How to release free bets
Although each betting house usually has its nuances (especially when it comes to a freebet no deposit bonus), the release of freebets usually follows the same pattern. The player has a deadline to use the freebet, which must be wagered in full. If the bet is a winner, they will receive the net winnings from the bet, meaning the value of the freebet will be deducted. For example, if we play a freebet of $5 at odds of 2.0, we receive a prize of $5 (5x2 = 10, 10-5 = 5).
Advantages and disadvantages of free bets
Initially, all the advantages are on our side as free bets don't cost Philippines any money (the betting house pays for it) and there are usually no rollover or other conditions to fulfil. In principle, any offer is positive and we can take advantage of it. However, you will have to carefully read the terms and conditions because free bets are not always free: to obtain them, you be required to make a deposit of a certain amount or place a bet at a high minimum odds, as in the case of Codere's free bet. In addition, the higher the value, the more conditions there will be, which is something to consider before deciding whether or not to accept the free bet.