Free bets can be confusing, especially when you’re new to betting. The first question asked is usually “is a free bet really free?” with the second being “can you withdraw money from a free bet?”
The answer to the first question is a bit difficult. So let’s leave it for now. I’ll answer it a bit later on in this post. Instead, let’s take a look at that second question:
Can you withdraw money from a free bet?
T&Cs differ between bookmakers, so make sure you check before using free bets. Some bookmakers state that there are wagering requirements on the ‘winnings’ of a free bet. Others don’t. You should, though, be able to withdraw money from a free bet at some point.
There’s also a way to guarantee that you withdraw around 80% of the value of your free bet. But we’ll look at that later. First, I’ll talk a little bit about what free bets are.
Why do bookmakers offer free bets?
The online gambling industry continues to grow year in, year out. Betting used to be the pastime of people who spent all day in the pub. You only have to look at the location of most betting shops to see that. There’s usually always a pub in close proximity. Take a look next time you’re out and about in your local town.
They used to be smokey, intimidating places. But with the introduction of internet betting, a whole new audience emerged.
Even then, it was still considered a bit of a taboo subject. It wasn’t until the technology of smartphones increased that betting become a truly mainstream pastime for many. Including people who would never have thought of entering a high street bookie.
This means the competition for new customers is extremely fierce. So how do bookmakers go about getting new custom? They offer free bets. The goal of these is to lure people in, making them think they are getting something for free. Typically, once you have gone through the signup process, downloaded the app and made a deposit, you’ll use that bookmaker.
It’s just a convenience thing, but a very strong marketing tool for bookmakers. As seen by the fact they’ve been using it for nearly 20 years of online play!
Are free bets actually free?
This is the thing that confuses people, and has them asking whether you can withdraw money from a free bet.
You see, a free bet isn’t actually free if you approach it in the traditional way.
Typically, you have to make a deposit, place a bet with your own money, and risk losing it. So before you get the free bet, you may already be £20 down.
Once you receive the free bet, it’s often not a case of just placing it on a winner, and then withdrawing your cash.
Bookmakers have terms and conditions and sneakily put stumbling blocks in to make it difficult for you. This includes things such as ‘roll over requirements’ which mean you have to roll over your free bet amount 6 times in order to withdraw any winnings.
Typically, that means you’ll come away from a free bet offer out of pocket.
So how can you withdraw money from a free bet?
What we’re about to tell you might get you removed from the Christmas card list of the online bookmakers. But it is a completely legitimate way to withdraw money from a free bet.
It’s called matched betting and it’s a cool trick that bypasses the T&Cs which tie your money into a free bet.
Not only does the matched betting process allow you to offset your initial deposit so you don’t lose it, it also guarantees that you’ll get most of the value of the free bet. And the money will come straight into your bank account!
Thousands of people are using matched betting to earn a second income, month on month. Want to find out more? Download your free introduction today!