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Free bets are a popular offer among many UK online bookmakers for their new and existing customers. Royal Ascot is a great example of the type of event where free bets are on offer. To find out more about free bets at the meeting check out our Royal Ascot betting offers.
The wording is simple but some aspects of free bets can be hard to understand as there are different requirements with each bookmaker.
Here, we take you through everything you need to know about free bets so you can take advantage of the thousands of pounds on offer.
What are free bets?
Bookmakers usually use free bets to try and entice new customers on to their platforms but they can also be used in some promotions to existing users.
Free bets enable the customer to place a bet, without providing the money for the stake.
Usually, you get to keep all the winnings, meaning there is there is no chance of losing money on that specific bet.
How do free bets work?
Different bookmakers have free bet welcome offers that vary greatly. They might also be referred to as a ‘bonus’.
Common to the vast majority is that you must bet your own money first, to be awarded a free bet. It’s incredibly rare that a bookmaker will give you a free bet without having to unlock it first.
This can be something like bet £10 and receive £30 in free bets. Your initial £10 bet that is placed with your own money is known as the qualifying bet.
The qualifying bet often has its own requirements. For instance, your qualifying bet must have odds of at least evens. This prevents customers betting on a dead certainty just to unlock the free bet.
Once you’ve met the qualifying requirements, the bookmaker will award your £30 in free bets. You will get to keep the winnings, but the stake will not be returned to you.
Matched deposits is another popular format for welcome offers. A bookmaker might give you a bonus of free bets equal to your first deposit. So if you deposit £50, you will receive £50 in free bets.
With this type of free bet, you might have additional wagering requirements.
It is important to look at the terms and conditions pages on the bookmakers’ website for the specific promotion to make sure you understand the offer fully.
Not all free bets offers are the same and will have different T&Cs.
Can you withdraw free bets?
You should be able to withdraw winnings from a free bet.
However, the wagering and withdrawal requirements for each free bet offer will differ.
There may also be playthrough requirements on the free bets.
What are playthrough requirements for free bets?
Playthrough requirements are sometimes in the terms and conditions of a free bet offer.
A playthrough requirement means you need to place a certain number or value of additional bets before you can withdraw any of the winnings of your free bet.
An example of this is if you were offered £10 in free bets, you may be required to turn it over three times before it is paid out, meaning you would need to bet £30 before you would be eligible to withdraw winnings.
This is an extra step in being able to withdraw your money and you should read the specific T&Cs of the free bet offers to see if a playthrough requirement is on there.