FreeBets are used to lure new customers. But are they really worth it?
“Promo cash” is a bookmaker’s term for cash that never really exists. The bookmakers’ give you an amount to bet with it, but your stake isn’t returned if you win – just your winnings. There are also restrictions on what you can bet on.
- You don’t actually get to keep any of your “promo cash”
- You can only use the promo cash as a stake – it’s deducted from any winnings
- It can also be part of the “Free Bet” (see below), giving you even less chance to see your promo cash in your wallet.
“Free bets” are advertised as a way of placing a bet without using your own money. Instead, you get a “free bet” from the bookies. In truth, however, the bets usually require you to bet on unfavourable outcomes, and you have to match the free bet with your own cash.
- Free Bets usually require you to match the bookmaker’s investment with your own
- Bookmakers steer you into less profitable or losing markets
- To make a withdrawal, you need to make even more bets
“Risk-Free Bets” claim to let you place a bet and reclaim your money if you lose. That’s true, but you have to risk your own money on an additional bet to qualify, usually multiple times.
- A Risk-Free Bet actually requires you to additionally risk your own money, which is then refunded by the bookmaker if you lose
- You have to bet multiple times before you can withdraw your refunded cash from the Risk-Free bet, creating even greater risk
Free Bets usually require you to match the bookmaker’s investment with your own
Bookmakers steer you into less profitable or losing markets
To make a withdrawal you need to make ever more bets
Having fulfilled that condition, you are only able to withdraw any winnings from the promo cash once you have staked at least four times the value of your initial bonus amount and these bets are fully settled.
So even with the £25 in promo cash you would need to place a further bet of up to at least £100 of your own money before you could make any withdrawals.
Conclusion: Don’t Waste Time & Money
These so called incentives are a waste of both time and money. You have to spend time learning the exact terms and conditions if you want to see your cash again, while the poor value odds these bookmakers offer (having enticed bettors in with promo offers) end up costing bettors in the long run.
It’s far better to use a low-margin bookmaker like Pinnacle, which offers much better odds than incentive-offering bookies.