Why Bookies Offer Free Bets

June 19, 2011

Nowadays competition in sports betting market is extremely fierce and there is a good reason for that – bookmakers profit every time punters place bets (learn why bookmakers always win). As the majority of online bookmakers offer pretty much the same in terms of betting opportunities and odds, they have to create tempting promotions to get punters choose their service.

Knowing that they are going to gain more anyway, bookmakers are ready to give really great bonuses and free bets to attract new clients. Bookmakers obviously gain if a punter loses his money and the bonus offer, but those punters who win at first usually become compulsive and end up losing even more. In order to not lose their current players, bookies also offer additional promotions to their existing clients.

To ensure that bonuses cannot be claimed by people who do not intend to gamble, bookies require their clients to place a bet with their own money first. The amount of bonus new clients get is usually matched with their first bet up to a certain limit. Moreover, many bookmakers require that the first bet is placed at the odds of 2.00 or higher so that people are more likely to lose their initial bet.

Are Free Bets Risky?

Since the introduction of Betfair people can place bets both for (back bets) and against (lay bets) selections. Therefore we can place our initial bet required to get the bonus with a bookie and lay the same selection on Betfair, thus creating a non-loss situation regardless of the outcome. Then the bookie gives us our bonus, which we have acquired without any risk. What to do to maximize our profit from the bonus is discussed in our matched betting tutorial.

Of course bookies know that their promotions can be turned into real money without any risk, yet they still offer them. Why? Because a tiny percentage of their clients know it is possible. Most of the people who get bonuses manage to lose not only the bonus stake, but also their own money, thus bookmakers are okay to have a few people take advantage of their promotions.

Leave a Comment

Previous post:

Next post: