Freebets are regularly used in promotions by soft bookmakers. If you are a new sports bettor and you want to increase your bankroll, freebets can be interesting, so let’s have a look at them here and determine a good strategy.
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What is a freebet?
A freebet is a bet where you don’t have to stake anything yourself. The bookmaker might give you the freebet as a bonus or as a reward, and the freebet will have a certain value. It could be as little as 5€ or as much as 100€. When you place the freebet, you will still win money if you get the bet right, and if you lose, you won’t lose your own stake.
But of course, freebets is usually earned from something, or it comes with extra conditions. Some bookmakers only allow you to place your freebet on odds over a certain number. Some bookmakers want you to turn over your freebet winnings a certain number of times after you’ve won it.
Still, freebets can definitely increase your bankroll if you know how to handle them.
Where to get freebets
Most soft bookmakers regularly give their customers freebets. We see this with bookies such as B365, Unibet, Mr Green, Betfair Sportsbook, and many others.
You can search in Google to see which bookies have a freebet right now.
Sometimes the freebet will come as a welcome bonus. Other times it might be part of a promotion for certain games – like the World Cup final, the Champions League final, or the Super Bowl. And then at least, you might earn freebets through playing with certain bookies.
But be sure to always read the conditions of the freebet before you accept anything. That is quite important, since there might be requirements on odds or turnover (in case you win). The best freebets are the ones that don’t come with any special conditions. And yes, they do exist – B365 regularly offers them.
Extract maximum value from your freebet
You are not risking anything with a freebet. And you don’t get to keep the stake – only the winnings.
Therefore, it makes sense to try and get higher odds rather than lower odds.
A 50€ freebet has more value at odds 3.00 (100€ return) than at odds 2.00 (50€ return). Again, you are not staking anything, so the correct way to use a freebet is theoretically to find a high-odds play with solid value.
Most bettors are surprisingly conservative with freebets since they want to get some sure money out of it. But when we look at it mathematically, the higher odds the better.
Of course, there comes a point where the probability of hitting is simply too low to warrant the effort. Value is still value, but if you only use your freebets on odds 10 and higher, you might never see a score due to the high variance in these types of bets.
In order to have a solid chance of winning your freebet, while also extracting really good value, we recommend you to use your freebets in the odds range of 2.50 – 5.00. And of course, there must be value in the bet, so make sure you place your freebet on some slightly mispriced odds, which will bring the bet completely into your favor.
Why sharps shouldn’t focus on freebets or bonuses
Initially, if you are building up your bankroll before hitting the serious sportsbooks and exchanges, it can make sense to go for freebets and bonuses. Beginners can gain a lot from freebets. If you start with a bankroll of 200€, you can easily double your roll by taking advantage of the freebets and bonuses on the market.
But once you reach a certain bankroll size, it doesn’t make sense to bet with the soft bookies anymore. As a sharp, you will need to be completely focused on value betting and on finding the best odds, since that is a long-term profitable strategy that can earn you much more money than simply getting freebets and small bonuses.
You will also notice that the best bookmakers and exchanges rarely have any bonuses. This is because they are also focused on the odds, and this is the center point of their service. We call them sharp bookies for a reason.
As serious bettors, we can gain value from soft books as well as sharp books, but it will come at different points in our journey. If you are just starting out, and you want some experience while also boosting a small starting bankroll, definitely take advantage of freebets. There can be some nice offers out there. Eventually, though, it will be time to move on to strictly odds-focused betting where the only goal is to beat the bookies on pure performance and obtain a positive ROI.
Want to learn more about serious sports betting? Check our archives and read top articles like our posts about value betting, bankroll management and top betting sites.