What Is Free Betting?
No one can deny that the popularity of online gambling has risen over the last few years. Not only are their now tons of online casinos available, but they are offering a diverse range of games. This is certainly exciting for players. Whether you are a new gambler or you have been gambling for years there are going to be terms that you hear over and over again. And, it is possible that you might think you know exactly what these terms mean, but in all actuality, you have no clue. The perfect example of this is free betting. Sure, the term seems pretty self-explanatory, but do you know how free bets are acquired and that there are some drawbacks to taking advantage of them?
How To Get Free Bets
Free bets are pretty much what the name suggests. Online casinos and bookmakers usually issue them as a way to entice new customers. However, this is not the only way a free bet can be obtained. They are often times also issued as a reward or as an enticement to get you to sign up for a VIP membership. A bookmaker or casino will basically just deposit a certain amount of money into your account so that you can make a bet. There are two ways that free bets are different from a regular bet. First, if you lose, you aren’t out any money. Second, when you win with a free bet you only get to keep the profit. When you make a regular bet and win, you will be returned your stake and the profit.
Know The Drawbacks
When it comes to free bettings bonus, you have to know that there are some drawbacks. Some of these drawbacks are that you usually have to match the bookmaker’s investment with your own money, bookmakers usually try to steer you into less profitable or losing market, and in order to make a withdrawal, you will need to make more bets. Many bookmakers will require you to at least stake four times the value of the initial bonus before you can make a proper withdrawal. So, with a $25 bonus, you would literally have to bet $100 of your own money before being able to make a withdrawal. And, this is just the start of the complications.
More Money Means More Conditions
Some bookmakers will also use other scrupulous methods to get you interested in free bets. They will first start off by offering you a huge bonus of $250. However, what they are not telling you is that the $250 bonus is not paid straight out. In order to claim the entirety of the bonus, you will have to wager $50 of your own money. If you wager another four bets of $50 they will promise you a second free bet of $50. After that it will become five bets then it will become another ten bets. By the time you have mustered up the lousy $250 bonus you will have spent $1,000 of your own money.