How do Free Bets Work? Free Bet Explained

You might have heard several times the term ‘free bets’ in the arena of Matched Betting. When you register as a new user to the platform of a bookmaker, you are offered a free bet. You can use it at your convenience while placing a bet. The rest of this blog tries to explain various aspects of free bets, including their working dynamics.

You get notified when you register

As soon as you register your name on the betting platform, you receive a notification from the service provider about the free bet or a promotional offer.

Useful Guide: How Does Matched Betting Work?

Connected to various deposits

Free bets are usually connected to different types of deposits on the official betting platform. An offer is generally related to the first deposit you make with the specific bookmaker. The amount is clearly mentioned. To begin with, you make the deposit and place a bet.

Claiming free offers

There are several opportunities available in the online betting market to claim various free offers. You can leverage the potential of a particular bonus code to claim such an offer. You can also utilize the opportunity with a minimum deposit at the bookmaker’s platform. You know about these codes through e-mails or online ads.

Related Guide: Matched Betting Offers

Straightforward bonus

Free bet is a type of straightforward bonus. You deposit a certain amount of money at the bookmaker’s and get the offer. Keep in mind the fact that the money you deposit can’t be redeemed for cash. For example, if you lose the bet after depositing money under the free bet, then the amount is gone. On the other hand, when you win, real money enters in your account.

This is how bookmakers attract

Free bets are tools for bookmakers to attract new bettors to their service platforms. Also, free bets help in retaining customers of a betting platform.

Risk-free bets

New bettors often confuse risk-free bets with free bets. They are not quite the same thing. More rules are attached to risk-free bets. They are not as simple as conventional free bets. Some conditions enable refunds of your money in cases of risk-free bets.

Also Read: Risk-Free Matched Betting Is Possible?

Be careful with multiple free offers

You have to stay alert while utilizing free bets to improve your profit margins. If the bookmaker notices that your Matched Betting activities are causing losses to him, then he can ‘gub’ your betting account and make it dysfunctional.

Also Read: How do I find more Free Bets?

Know about the bookmaker’s profile

It is important to gather some relevant information about the bookmaker. Before you grab a free bet deal, you need to get some details regarding the bookmaker’s service platform. It would certainly make you more confident about strategically placing your bets.

Related Guide: How to Find Free Bet on Bookmakers Website?

Discuss with experienced punters

It is wise to discuss your betting strategies with experienced punters from the world of Matched Betting. It is definitely going to improve your expertise in the circuit.

Related Guide: How to Make Money from Free Bets?

Seek valuable suggestions

If you want to improve your understanding about the dynamics of free bets, then you can seek advice and suggestions from experts providing a Free Matched Betting Service.

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Jargon Glossary

Back bet = betting on something to happen

Lay bet = betting on something to not happen

Betting Exchange = somewhere you can place lay bets

Profit Squirrel = the home of matched betting

Matched Betting = continue reading below 😁

Fractional odds = odds as a fraction (e.g. 4/1)

Decimal odds = odds as a decimal (e.g. 5.0)

What Is Matched Betting?

Matched betting is one of the best ways to make money online. It’s a simple technique that allows individuals to earn a guaranteed profit from bookmaker free bets and promotions.

How does matched betting work? It involves betting on all outcomes of an event, removing the element of chance, whilst at the same time receiving free bets and other amazing promotions from the bookmakers. These free bets can then be converted to cash profit. The reason it is called ‘matched’ betting is because you are matching your bookmaker bet with an opposite bet on a betting exchange.

Matched betting has been around since the first betting exchange in 1999. Previously this technique was reserved for betting traders only, but thanks to Profit Squirrel and our simple to follow, step-by-step guides, we have made it easy for absolutely anyone to make money. Over 70 per cent of our members had never placed a bet in their lives before starting matched betting. We guide you through and support you every step of the way, starting with as little as £10 and making up to £1,000 from the bookmakers sign-up / welcome offers alone!

  • Do I need betting experience or sports knowledge?

    Nope! You don't need any knowledge of sports or betting to make money from matched betting. We have step-by-step, written and video instructions on all of the offers – you’re guaranteed to make money. The outcome of the event is irrelevant, so any prior knowledge or experience with sports is not needed.

    As previously mentioned, over 70 percent of our members had never placed a bet before starting with Profit Squirrel.

  • Is Matched Betting Legal?

    Sounds too good to be true, right? Matched betting is 100% legal. Profit Squirrel has been enjoyed by over 100,000 people in the UK and has national coverage in The Guardian & The Telegraph. We're simply taking advantage of bookmaker's generous free bet promotions.

    So long as bookmakers offer sign-up bonuses and ongoing free bets you will always make guaranteed profits with matched betting.

  • Does It Involve Gambling?

    Matched betting is not gambling. Despite having the word 'betting' in the name, as well as using betting platforms in our execution of the technique, there’s no gambling involved.

    Profit Squirrel teaches you exactly how to cover all outcomes so that no matter the result, you can profit from the free bets.

Start Profiting From Matched Betting Today
A Brief History..
Frequently Asked Questions
  • Is Matched Betting available outside of the UK?

    Profit Squirrel is the best matched betting site focused on both United Kingdom and Republic of Ireland residents. It could well be that bookmaker's offer profitable free bet promotions in your country of residence, but they will likely vary from those listed on Profit Squirrel. The same principles still apply wherever you are in the world, but you will need to find the offers yourself.

  • Will it affect my credit rating and/or mortgage application?

    Using bookmakers will not affect your credit rating. Bookmakers only carry out a 'soft search' in order to verify that your registration details are correct. This will never impact your credit rating. Which makes sense as you are not applying for any kind of credit.

  • What if I already have some bookmaker accounts?

    Even if you have a handful of bookmaker accounts already, we have over 70 welcome offers alone, so there will still be plenty of profit on the table.

    We also show you how to make money from your existing accounts too. Sign up and start making money, today!

What is Profit Squirrel?

Profit Squirrel is the home of matched betting. We specialise in helping newbies learn & earn with matched betting, so that they can start profiting from Day 1.

We provide free video guides, software, and calculators. Making money online has never been easier. Profit Squirrel provide many support options, including, live chat (on the website), WhatsApp messenger, email support and a private Facebook community with over 30,000 fellow members.

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