This article will look at what a free bet is and the best ways you can maximise your profits from the many free bets and other bonuses that are offered by bookmakers in Ireland and the UK.
What is a Free Bet?
A Free Bet is where a bookmaker allows you to place a back bet on a sporting event e.g. a football or tennis match without having to risk any of your own money.
If your back bet loses, you won’t lose any money but if it wins, you will receive the winnings based on the odds you backed at.
The vast majority of Free Bets that you will receive from bookmakers will be Stake Not Returned (SNR) free bets, which means you will not receive the value of free bet amount you staked if your bet wins e.g. if you placed a €10 SNR free bet at odds of 2.0 and it won, you would receive the winnings of €10 but you won’t receive the amount you staked on the free bet.
The other type of free bet is the Stake Returned (SR) free bet.
This is the opposite of the SNR Free Bet as you will receive the amount you staked on the free bet if your bet wins.
If we use the same example as we used for the SNR Free Bet, you would receive €20 if your SR Free Bet won.
How to find Free Bet Offers
The easiest way to find free bet offers is to sign up with one of the paid matched betting sites.
This will give you access to a list of welcome offers with free bets that range from €/£5 – €/£100.
You will also gain access to their Offers Calander which is updated on a daily basis with the latest and best bookmaker reload offers.
If you have the time to spend searching for Free Bet Offers manually, then check out our DIY Matched Betting Guide.
How to Maximise your Profits from Free Bets
Below are some tips on how you can maximise your profits from free bets from my experience of matched betting over the last 10 or so years.
- Use an Odds Matching Tool as this makes finding appropriate selections to bet on much easier.
Most tools will have an SNR filter which filters the results for bets that will maximise the profits from your free bets.
- If you are not using an Odds Matching tool then look to place your free bets on selections with odds between 5.0 and 10.0 as the higher the odds the better for free bets.
However, I wouldn’t recommend using odds higher than 10.0 as this may be a red flag to the bookmaker.
- Consider placing your free bets on Horse Racing as you may get an added bonus if the odds of the horse you backed drifts after you have placed your bet.
If this happens you may get Best Odds Guaranteed on that Horse and you may find you have made an extra €/£5 -10 from the Best Odds Guaranteed if the horse goes on to win the race.
- Dutch more of your free bets.
Often you can get as much value from your free bets by dutching as you can by laying your free bets at a betting exchange.
By dutching your free bets, you get the added bonus of being able to generate some mug bets at other bookmakers for a very small loss.
You can check out my Free Bet Strategy for more details on how to dutch your free bets.
- This last tip is not recommended for beginners to use but if you are a bit more experienced it can be a good way of increasing the profits made from your free bets.
It involves using the profits you have locked in from your free bet, to do some sports trading.
You will look to back a selection at odds of 2.0 or higher.
If your back bet is successful then you will at least double your profits and if your back bet loses you will break even.
What you choose to back is up to yourself but below are some ideas you could try.
– Back over 1.5 goals once the odds are greater than 2.0
– Back under 2.5 goals when the odds are above 2.0
– Back a favourite when they fall behind in a match and their odds are greater than 2.0