What Is A Free Bet Bonus
When online betting sites in Maryland make a risk free bet offer, they're designed to be marketing tools that will encourage new customers to join their site. An online bookmaker utilizes these bet credits to garner new customers to sign up at their site and create a loyal customer base. The advantage to players is that they are essentially being given a free chance to try out the site without risking their own money. It's similar to taking a new car for a test drive. It's an opportunity to discover if it feels right for you.
In some cases, these rewards can prove to be lucrative but while they call them a free bet, the fact is, there is always a catch attached to the offer. Once claiming free bet offers from online sportsbooks like Unibet MD or Maryland FOX Bet, new players will be required to meet some pre-set requirements to take advantage of these free sports bets and to be able to withdraw any winnings earned when they receive a free bet.
All betting sign-up offers come with terms and conditions attached to each free bet promotion. These will vary from one sportsbook to another. An online sportsbook will attach a variety of wagering requirements to any form of free betting.
Sportsbooks don't have a problem with losing a bit of money to build a clientele. However, a sports betting site isn't in the business to give away money without some stipulations first being met. These are some of the wagering requirements players might find attached to a sportsbook bonus, such as a free bet award:
Minimum Odds Level
To make free bets valid, bettors are often limited to the type of sports betting odds that are allowable. For instance, it might say that there is a minimum odds level of -200 to unlock free bets. Any wagers that don't meet this standard won't count as a qualifying bet.
Another common attachment to qualifying bets from Maryland sportsbooks is minimum and maximum free bet stakes. Customers may be limited to how much or how little they are permitted to wager. Some sites may require that when new players deposit free bet offer funds, it all be wagered in one lump sum, wagered as a risk-free first bet. Other sites may place minimum limits on allowable wagers. There could also be free bet max winnings attached to qualifying bets.
Online sportsbooks in Maryland will place different wagering requirements on free first bet offers. Many sites won't count the bet credits stake from free bet funds as part of the qualifying bet needed to be wagered to release the free money. A sports betting site may also make it necessary for new customers to enter a promo code when signing up to access any free bet promotion.
Time is often not on your side when it comes to free sports bets. Some Maryland online betting sites will necessitate that a qualifying bet must be placed within 48 hours of signing up at a site to access the bonus money. Often with a free bet promotion, an online bookmaker will require that all attachments needed to make a free bet valid be met by new customers within a specific time limit, such as within 30 days of the betting sign up offers being accepted.
Betting Type Restrictions
In general, free bet offers are limited by a Maryland online sportsbook to straight bets such as money lines, point spreads and totals. Parlays may be allowed as part of a qualifying bet settlement. However, futures generally aren't accepted as free bet credits because those bets usually won't be settled within the time limit required. Likewise, if a site is a betting exchange, new customers will likely find exchange bets excluded from any free bets credited to a player's account.
How Are Free Bets Paid Out?
When a new customer signs up with a Maryland sports betting site offering a first deposit free bet, the free bet award can be paid out in several ways. In some cases, the money will be issued in a lump sum but it must be wagered in one qualifying bet. For example, a $500 risk free first bet would need to be wagered all at once. Other sites will allow more than one wager to be played as a free bet. However, when players receive a free bet, they can't wager more than the maximum amount permitted and must make all qualifying bets within a predetermined time period set by the online sportsbooks. Many sites also don't permit free bet credits used as a stake to be withdrawn by the customer, only any profits realized from the free bets.
Types Of Free Bet Offers
Online sportsbooks in Maryland offer a variety of deposit bonuses. All will come with terms and conditions and wagering rollover requirements attached. These are the most common forms of sign up offers.
Risk Free Bets
A risk free first bet awards bonus money to a new customer in the form of a free bet offer that can be used at online sportsbooks to make a bet that can't be lost. In this instance, a player isn't required to risk their own money. If the first bet wagered is a winner, that's great. However, if the bet loses, then the online sports betting site refunds the stake from these risk free bets in the form of a free bet up to a predetermined maximum amount. Win or lose, there will be rollover requirements attached to this deposit free bet, as well as minimum allowable odds.
Also called a matching first deposit bonus, these deposit bonuses are a set amount established by an online sports betting site — let's say $250. When making their first deposit, new customers can take full advantage of this free bet stake by matching the maximum allowable deposit bonuses. These matched deposit bonus offers often require a bonus code to be included to access the offer, so be sure to read all the terms and conditions before signing up.
No Deposit Bets
These bonus funds are exciting because it's like a customer gets to win cash just for signing their names. As the name suggests, a no deposit bet doesn't require someone to do anything but join a site. Generally, these no deposit offers aren't for significant amounts — $10 or $20 in free bets — and may require a bonus code being entered for access to the sportsbook bonus funds.
Cash Back or Money Back Bet
This deposit bonus takes several forms. Cash back or money back bets are a relatively new form of free bet stakes. Some online sportsbooks offer parlay insurance where cash back is paid if all but one leg of a parlay wager comes in. There are sports betting sites that offer cash back if certain circumstances occur in a sporting event, such as a player being played in a prop wager being substituted before halftime.
How To Get The Best Free Bets?
Create Accounts at Multiple Sportsbooks
Pizza is great, but that doesn't mean you want to eat it for dinner every night. Variety is the spice of life, after all, and it's no different when it comes to Maryland sports betting sites. In this competitive business, all of the top sites offer some form of free bet signup bonus. There's no limit to how many sports betting sites can be joined. By signing up for multiple sites, new customers can also access multiple free bet offers.
Loyalty and Rewards Programs
Another perk offered by almost all online sportsbooks is loyalty rewards programs. It's another method by which these betting sites can induce customers to stay with them beyond their initial deposit offers rather than playing the field of free betting sites. In return for their loyalty, customers are rewarded with perks such as free bet funds, money back on bets and bonus money to be wagered on the site.
Refer A Friend
There are online sportsbooks that offer refer-a-friend bonus money. With these types of free bet offers, the free bets are usually delivered both to the existing and new customer, when the former convinces the latter to sign up at an online sportsbook. A promo code is assigned to an existing customer. When the new customer signs up and enters that bonus code, both customers are awarded free betting opportunities once a new customer has made a qualifying bet settlement. There's often no limit to how many times these bonus codes may be shared with friends to get them to sign up.
How to Redeem Risk Free Bets
The opportunity to earn free bets is generally accessed during the sign up process when the new customer is about to make a deposit. It's a simple process.
- Make a deposit
- Enter any required bonus codes
- Place a real money bet
- If the qualifying bets win, cash goes into the player's account
- If the bet loses, the amount of the risk free bet is returned to the player's account
How long do bonus funds take to arrive?
The time it takes for losing risk free bets to be returned to a customer's account varies across the different online sportsbooks. Some sites will return the bonus money almost immediately. Others will guarantee arrival of the bonus money within a 72-hour window.
Pros and Cons of Using Free Bet Bonuses
The pros of utilizing free sports bets in Maryland:
- It is basically free money
- The no-risk option gives players a second chance to make good on their first deposit without losing the money.
The cons of using free betting sites in Maryland:
- In some cases, it can be difficult to meet the requirements attached to free bet stake
- That can mean that customers will lose out on accessing some of the first bet bonus money.
Free Bets FAQ
Yes. While there may be limits on the types of wagers used for a risk-free first bet, the sports that can be wagered on are unlimited.
When new customers join a betting site, they're given a chance to access sportsbook bonus offers such as free bets. Players can place these free wagers knowing that if they lose the bet, the money will be returned to their account.
Just like it sounds, it's a no-lose proposition. A set amount is determined by an online sportsbook that can be wagered as a risk free bet. As long as a player doesn't exceed that amount, the bet total will be returned to the player if it's a losing wager. Usually, there are specific terms and conditions attached to these free bets, such as minimum odds, time limits to make the bet and types of bets permitted.
In the majority of cases, yes. When new customers sign up to a betting site, they're given a promo code to garner risk free deposit bonuses. By entering the code, these players can access the free sports bets.
Eventually, yes. There are always terms and conditions attached, though. These can include rollover requirements — the number of times the bonus funds must be wagered before they can be withdrawn from a customer's account — and time limits of how long a player is given to meet these and other qualifiers on deposit offers.
A veteran journalist, Bob Duff has covered the gambling and sports betting industry since 2016. He has written more than two dozen books, including authorized biographies of Johnny Bower, Desmond Howard and Gordie Howe. Duff has covered the Super Bowl, World Series, World Cup, Stanley Cup Final, NBA Finals, March Madness and the Olympic Games. He has won multiple writing awards.