Are free bets actually free or is it a trap lol
ok so i signed up for a sportsbook last week and they gave me like a $50 free bet for depositing. sounds great but when i went to use it i couldnt figure out how to actually get the money out. like do you keep the winnings or what? feels like theres some catch im missing. anyone actually cashed one of these out?
11 answers
Top Answer
125
yeah theres always a catch but its not a scam exactly, just gotta read the fine print. so with most free bets you dont get the stake back, only the winnings. like if you bet your $50 free bet and it wins at +200 you get $100 profit not $150. and theyre usually tied to wagering requirements before you can withdraw. i use Boomerang Bet and their free bets were pretty clear about the terms tbh, i actually got like 40 bucks out after a couple weeks. just dont expect to deposit 50 and instantly cash out 50 free, doesnt work like that
66
can confirm. did the same thing and yeah the stake doesnt come back, only winnings. i was confused at first too but once i actually read the terms it made sense. ended up withdrawing about 30ish after meeting the rollover. not bad for free money imo
32
idk man sounds like a lot of hoops to jump through for what, 30 bucks? by the time you meet the wagering reqs you probably gave it all back. how do you actually come out ahead on these
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36
nah its not as bad as it sounds. the trick is you place the free bet on something with decent odds, take the winnings which are real cash, then only wager THAT amount. you dont have to keep depositing. i didnt lose anything extra, just patience. came out with 30 i didnt have before so
24
honestly i hate these things. signed up for one, the free bet expired in like 7 days before i even noticed and i never got to use it. felt like a bait to get me to deposit and then poof gone. read the expiry dates people
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25
that sucks but mine had a 30 day window so it really depends on the book. i had plenty of time. sounds like yours was just a short fuse one, not all of them are like that. check before you commit
12
wait so when they say wagering requirements like 5x or whatever, does that mean you have to bet the winnings 5 times before you can withdraw? or the whole free bet amount?
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11
usually its the winnings amount times the multiplier. so if you win $100 and its 5x rollover you gotta wager $500 total before cashing out. sounds scary but if you do small even money bets it goes faster than you think. just check if its the winnings or the bonus amount cause it varies
11
fwiw most free bets in canada are technically stake-not-returned which is the standard. some books do offer the rare ones where you keep the stake but theyre way less common and usually smaller amounts. just something to look for in the terms
5
the way i think about it, its free in the sense youre not risking your own money on that bet, but its not free money you can just pocket. its more like a discounted shot at winning something. expected value is positive if you use it right but its not a giveaway
7
yep same experience as the top comment. used a free bet last month, won, met the rollover doing some low risk parlays, withdrew around 45. you wont get rich off them but its legit free upside if you actually read the terms and dont go chasing