Types of Free Bet and Bonus
Free bets and bonuses can be very exciting and are often the main reason we sign up for new platforms. However, they can sometimes be a little bit difficult to understand, especially for novice gamblers.
The following article will hopefully clear up some of that potential confusion by explaining three of the most common free bet and bonus offers that you’re likely to encounter online.
Stake Not Returned
This is perhaps the most common type of free bet you’re likely to come across at an online casino or sportsbook. Stake not returned (SNR) bets are usually offered out as part of a signup bonus for new customers but you can also find these occasionally offered to pre-existing customers. A lot of the time these will be referred to as “betting tokens” or “account credits”.
The main thing to note with these types of bets is that you cannot withdraw the free stake and that any winnings will not include the wagered amount. Often, you will need to enter some sort of code when signing up to access the free bet. Deposit is also usually required as is a “qualifying bet” with a set minimum wager and odds.
Sometimes there may be a wagering requirement on the winnings made but for the most part, you are able to withdraw immediately. The qualifying bet does not have to be won in order to be given your free bet. However, SNR bets will usually ask you to bet the total on a single selection with splitting not allowed.
A subcategory of SNR bets is ‘no deposit free bets’. These bets work in much the same way but do not require a qualifying bet to access.
Bet Refunds
This type of bonus is sometimes found as part of a signup promotion but more commonly offered to existing customers. Bet refunds offer to refund the value of a losing wager in either cash or bet credits. In order to activate these bonuses, a code is usually required. These promotions can be very enticing but there are, of course, terms and conditions to bear in mind.
Minimum odds are standard and more often than not refunds will be in bet credits so there’s no guarantee you’ll actually get your lost wager back but you do have the opportunity to win it back.
Free Money/Stake Returned
These kinds of free bets are frequently seen as part of a registration offer. After making your first deposit, you may receive free money or a bonus balance. This operates more closely to real money in your account but it does come with wagering requirements attached. This means you will have to fulfil these bet requirements before being able to withdraw and access the free money.
As usual, a code will likely be needed in order to first access the additional balance. Once the money is in your account, you may need to make a set number of wagers with minimum odds attached. This can, at times, be rather demanding and difficult to complete, making this promotion less enticing than it first sounds. If you lose your money whilst completing the requirements, you will not be able to withdraw any free money.
However, if you do manage to get through the minimum requirements with your free money still intact, you are able to withdraw this along with your winnings. By this point, you are likely to have accumulated a decent bankroll making this promotion potentially very lucrative. There is no need to wager profit with this promotion so if you do lose, you don’t have to be worse off for it.