Different Types of Free Bets
The free bets differ greatly depending on whether they are a part of a new customer offer or can be used repeatedly. Also, the difference may lie in whether you need to make a deposit first or not. Here’s a complete breakdown of all types of free bet offers found at sports betting sites.
Matched Free Bets
The matched free bet offer is among the top free bet offers in bookmakers across Canada, mainly because it’s easy to understand and very generous. Namely, a sportsbook with this type of welcome offer will match the first bet new players make in free bets. For example, if your initial bet is $30, you will get an additional $30 in free bets.
More often than not, bookmakers will match your stake 100% in free bets, but there have been instances where players received even more than twice the amount of the first bet. Note that full terms apply to these matched free bets, so expect a qualifying bet and wagering requirements to apply as well.
No Deposit Free Bets
No deposit free bets are free bets new players love above all others because they justify their name entirely. In other words, a sports betting site will give new players a certain bonus amount they can use to place bets without asking for an initial deposit. That is to say, you only need to create an account, and the free bets are yours for the taking.
Players mostly get $10 in free bets, but some sign-up offers may bring even $30 in free bets or more. Of course, this type of offer entails a series of terms and conditions you need to abide by to claim the bonus. You must place these free sports bets on particular events with min odds of 1.5 or higher, etc.
Reload Bonuses
Reload bonuses are deposit bonus offers aimed at existing customers who might have felt neglected seeing all those sign-up offers for new players. This time, their subsequent deposits will be matched in free bets up to a certain amount. Some online betting sites have been known to offer up to $50 in free bets or even more.
Sometimes, these reload deposit bonus offers are free of wagering and minimum odds requirements, but that is not usually the case. Either way, they offer the perfect chance to get something for your loyalty and regular deposits.
Risk-Free Bets
A risk-free bet belongs to those most sought-after sign-up offers for new customers at betting sites. What’s more, even some reload bonuses can be risk-free. A risk-free bet is a bonus where your initial stake on a given event will be reimbursed in the form of bonus cash if that bet is a losing one.
Let’s say the sportsbook offers a $10 risk-free bet on an NHL match. If you wager $10 on that match and lose, the sportsbook will cover your losses, which is why risk-free bets are among the best free bets out there.
Qualifying Free Bets
Qualifying free bets are not much different than most other free bets since the only difference lies in the requirements players need to meet to unlock them. These conditions refer to the wagering requirement, the minimum deposit, the qualifying bet you need to place on a specific event with specific minimum odds (1.5 or higher mostly), and the bet size.
The qualifying free bets are not that big but will probably be connected to important fixtures. Make sure to read the terms and conditions on the betting site carefully before opting for the bonus to see if it is worth taking in the first place.
In-Play Bonuses
In-play bonuses refer to the freebies players can use to bet on live events. Specifically, a bookmaker will reward players who make a pre-match bet of a certain amount or make a particular deposit on a given day with $10 in free bets or more that can be used on all live events.
You can find them as part of a specific welcome offer aimed at those bettors who love the thrill of placing an in-play bet, but the existing customers can also benefit from them. Pay attention here. The winnings from the in-play free bets don’t usually include the initial stake.
Money-Back Specials
Money-back specials are unique promotions that were first offered by Paddy Power 15 or so years ago. Here’s the deal. The bookmaker that offers this bonus will give you your money back if a predetermined event occurs that is part of a promotion and you have placed a different bet.
Let’s take betting on horse racing as an example using common terms and conditions that apply to this bonus type. If your horse comes second or third in a race where at least six horses are competing and where the bookmaker’s favourite horse is the winner, you will get your money back as free bets.
Loyalty Free Bets
Loyalty free bets are free bets that players get through the VIP loyalty bonus schemes most Canadian sportsbooks and casinos offer. Once players reach a certain level, loyalty free bets will be given as a reward, and those free bets must be placed on designated events and will have the min odds requirements and others described in the terms and conditions.
Special Event Free Bets
The special event free bets are precisely what their names suggest. They are free bets issued to players who place real-money wagers on particular games or events under specific conditions. These conditions involve minimum odds, bet size, and others. If you decide to opt for this bonus and bet on the pre-selected event, the bookmaker may give you your money back as a free bet if you lose or match that bet in free bets; the options are quite diverse.
