What is a Free Bet?
A free bet is one of many promotional tools employed by betting sites to attract new customers and hold on to existing ones.
As the name implies, a free bet is a bet that you place for free! The bookmaker pays for the stake, and you claim any subsequent winnings, subject to terms and conditions. When you qualify for a free bet, the value is credited into a separate account, called a promo account, a bonus account, or a free bet account, depending on the betting site.
Note that free bets are non-withdrawable, and can only be used to wager.
A free bet gives you the chance to place a bet without risking your own money. If your free bet is successful, the stake is usually subtracted from your winnings, while the net winnings are paid into your main account. You can then withdraw your winnings from the main account, or use the money on another bet.
How do I obtain a free bet?
Some bookmakers, like Betway, offer free bets to new customers as part of their welcome bonus, while others, like NairaBet have different promotional packages that offer free bets to existing customers. We will show you some of the best free bets offers in the course of this article.
You will have to meet certain requirements to qualify for these free bets, while there is usually a validity period during which you can use the bets.
All wagering requirements must be met during this period else the free bets will be canceled. We will discuss the most important rules and requirements as we go further.
How to use a free bet
A free bet can be used similarly to bets made with your own cash, but it often comes with certain conditions and restrictions, including minimum odds, maximum payouts and validity periods. Hence it is very important to study and understand these details so that you can take full advantage of the offers.
One way of getting the most value out of free bets offers by going big on welcome bonus packages, and building a decent free bet balance from the onset.
You can also try out the hedge betting strategy to get the best out of your free bets. In this case, you bet on an outcome with your normal account and wager on the opposite outcome with your free bet account.
For instance, if you have backed Novak Djokovic to beat Rafael Nadal in the Wimbledon final, you can hedge the bet by backing Nadal to win with your free bets. Hence, one way or the other, you are likely to make extra profit without spending more than your initial stake!
Can I use free bets to play casino games?
On most betting sites in Nigeria, free bets can only be used on sports betting markets, and not on other online gambling options like casinos and virtual games.
What you will find on most casinos are free spin offers, which allow you to spin the casino reel without paying. Free spins are usually included in the welcome bonus for online casinos, while they are also available to existing customers.
When used properly, free bets can help you preserve your cash and make big profits from your betting adventure. There is always the temptation to get reckless with free bets, just because it is not your money, but we advise that you use your free bets judiciously, just as you would do if you were wagering with your own cash.
Types of free bets found in Nigeria
Not many betting sites in Nigeria include free bets in their welcome bonus packages, so when you see one, you have to make the most of it!
Betway has a nice free bet offer for new customers, giving a welcome bonus of 50% free bets on first deposits, with a maximum bonus of N20,000.
Hence, if you make a first deposit of N20,000 on Betway, you are entitled to a welcome bonus of N10,000 as free bets, as long as you meet all the wagering requirements.
The amount of money you can put down as your first deposit obviously depends on how strong your finances are, but you can save yourself some serious betting expenditure in the future by making this initial sacrifice.
Free Bets Up To ₦100,000
Betway rewards new customers with a sumptuous welcome bonus, totaling 50% of first deposits in free bets.
So, if you open a Betway account and make a first deposit of N10,000, you will receive N5000 in free bets! To unlock the free bets, you must wager three times the value of your first deposit on sports or jackpots.
For instance, if your first deposit is N10,000, you must place bets of up to N30,000 on sports bets or jackpots to qualify for the free bets.
The qualifying bets must be placed on minimum odds of 3. New customers have up to 30 days to meet these requirements so as to unlock the welcome bonus, else the free bets will be forfeited.
Some other important terms and conditions to note include:
- The maximum bonus that can be awarded is N20,000
- The maximum winnings on any free bet is N150,000
- A free bet is available for a maximum of 180 days from the date it was credited to you Betway account. After this period, the free bets expire and are removed from your account.
We think this is a fairly generous offer. So open a Betway account today and get yourself this juicy welcome bonus.
Some other free bet offers available include the NairaBet First Bet Bonus, the NairaBet Monday Funding Madness, and the Betway Rebound Boost, which is a sort of compensation to punters who have been on a losing streak with their bets. So look out for these offers and unlock some free cash to wager with!
Important things to know about free bets
Free bets are very enticing offers, but to gain the maximum reward, you must acquaint yourself with the terms and conditions, and wagering requirements that govern these promotions. Free bets can be specific to new customers or available to both new and existing customers.
Make sure you fully understand all the terms and conditions before accepting a free bet!
Some bookies offer new customers a percentage of their first deposits as free bets, while others simply match the value of the customer's first bet, whether the bet wins or loses. This is often termed a risk free bet.
In this case, if you open an account with a bookmaker and place an initial bet of N1000, you will be credited with N1000 as free bets whether your bet wins or loses.
The types and values of free bets may differ from bookmaker to bookmaker, but these offers generally follow similar principles. Free bets are non-withdrawable and are only meant to be wagered with.
Free bets usually have a maximum limit and must be used within a specified period. Once this validity period expires, the bets will be canceled.
Winnings via free bets can be withdrawn, but only after the wagering amount has been deducted. All free bets are subject to terms and conditions, while they all come with their wagering requirements, including minimum odds and maximum winnings.
Free bets are clearly very beneficial to punters; hence, it is very important to always be on the lookout for the best free bet offers so as to save your money, and potentially make some big winnings with the bookies money. Sounds great, right? So open an account today, and start enjoying the benefits of free bets!
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