How do free bets work? A simple guide for beginners in 2020

Free bets are extremely important to bettors in 2020. But how do free bets work and how can you profit from them?

In this article, we’ll check out a step by step process to help you take advantage of free bets in 2020 and beyond.

Let’s get started!

Huge range of free bets

I’m sure you’re aware of the huge range of free bets and promotions that bookmakers offer new and existing customers.

Here’s a typical example from Betdaq, one of the most popular betting exchanges. They offer new punters a Bet 10, Get 10 free bet.

Betdaq signup offer

Whilst you could say the number of free bets has got a little ridiculous, it’s great for punters for a number of reasons:

  • It allows you to maximise your income
  • Sign up offers mean you’re more likely to try different bookies
  • You can’t turn down free money

I recommend you take advantage of as many free bets and other promotions as possible. What’s more, using strategies such as matched betting, you can make a guaranteed profit risk free.

How do free bets work?

So how do free bets work in 2020?

It’s fair to say, there are many different types of free bets the bookmakers offer punters. There are too many to write about in this article so we’ll save that for another day.

What we want to look at in this article is how do free bets work and how you can take advantage of these offers in 2020 and beyond.

To start with we’ll look at the most simple of free bets… The sign up offer. Similar to the Betdaq example above, here’s another sign up free bet from betconnect.

Betconnect £50 free bet

These free bets do what they say on the tin. Sign up offers are promotions given to new customers as an incentive to sign up.

Sign up free bets have become incredibly popular over the years and this strategy obviously works for the bookies.

Ben Cleminson from Square in the Air claims that some bookies are willing to spend up to £300 per customer acquisition. Yes, you read that right…

Large bookies like Ladbrokes and Coral are happy to spend £300 to gain one new customer. It’s a crazy amount of money but the bookies know they can win it back.

So we need to turn the tables. Luckily we can do just that, and here’s how.

How do free bets work – a simple process

So the process works something like this:

  1. Sign up
  2. Add payment method
  3. Complete the wagering requirements
  4. Place your free bet

It’s really that simple.

Let’s check out each of these steps in more detail.

1. Sign up

The first step to access your free bet is signing up to a bookmaker. Nowadays this process is incredibly easy and takes a matter of minutes.

You may need proof of address, along with ID and a payment method before the bookmaker will create your account.

The rules and regulations surrounding gambling are very strict these days and rightly so.

Ladbrokes sign upYou may also need to input a certain promo code or register via a special link to access a free bet so bear this in mind when you’re registering your new account.

It’s easy to look over this and can be extremely frustrating if you miss out.

2. Add payment method

Depending on the bookmaker you’re creating an account with, you may have already added your payment information.

If not, now’s the time to add your payment details. Once again, there are many different payment methods that you can use. Some bookmakers now even accept eWallets such as PayPal, Skrill or Neteller.

This step is pretty self-explanatory but it’s vital to use an account in your name and one that you have access to.

If there are any doubts or red flags thrown up in the sign up process, the bookmaker may reject your account.

If this happens you’ll have to get in touch with support to continue setting up your account, which can take some time. Whilst this is not really an issue, it can be frustrating and delays you from getting on with placing your bets.

3. Complete wagering requirements

The next stage is to complete the wagering requirements for the free bet. This is not necessary with all free bets and it will depend on the bookmaker you’re using etc.

For example, the Betdaq sign up promotion we mentioned earlier requires you to place a £10 bet before being able to unlock your £10 free bet.

Whereas some free bets are unlocked immediately after registration. It all depends on the bookie.

Therefore it’s important to check the terms and conditions thoroughly before signing up and trying to access your free bet.

Betdaq terms and conditions

4. Placing your free bet

So you’ve unlocked your free bet. Now for the exciting bit. It’s time to place your free bet.

There are different ways you can do this and it depends on the type of betting strategy you’re using.

You can do some research and place your bet on a market you know a lot about where you have a high chance of winning. You can go for a gamble and hope for a big win by selecting a market with high odds. Or you can use matched betting to make a guaranteed profit without any risk.

I won’t go into detail of how each step works, I’ll save that for other articles. However, it’s important to decide on your strategy and stick with it.

As you can see, free bets are very simple to use and take advantage of. Once you’ve completed a few sign up offers you’ll know exactly what you’re doing.

Best bookmaker free bets

So now we know how free bets work, let’s look at some of the best bookmaker free bets out there.

One of the greatest things about bookies free bets are that they are constantly changing. The bookies are always trying to keep us interested.

Therefore they update and change the offers they have available all the time.

The downside for us is that it’s incredibly hard to stay up to date with the latest offers. However, there are certain websites that you can use to help you spot the latest offers.

For example, if you’re using matched betting, OddsMonkey does all the hard work for you and will show you the latest offers to take advantage of.

They also walk you through the whole process hand in hand allowing you to start making money right from the get-go.

How do free bets work?

All in all, free bets are incredibly easy to understand and take advantage of in 2020 and beyond.

Here’s a recap of the process we looked at above:

  1. Register your new account
  2. Add payment method
  3. Complete wagering requirements
  4. Place your free bet

Have we missed anything? Let me know by leaving a comment below right now.

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