If you’re new to online sports betting, any free bet sign-up offer or new customer promotion you see or hear about will likely be appealing but also leave you wondering, “What’s the catch?”
It’s a fair question to ask. Us Brits can be a cynical bunch at times but at least we’re realistic!
But, to answer the question directly – there’s no catch whatsoever with new customer offers you find on UK betting sites. Such promotions are the only way for online bookmakers to attract new members (unlike a high street betting shop, which relies on the natural footfall of punters) and have been used since betting companies started to launch online in the early 2000s.
That said, a new customer must meet certain requirements before claiming a welcome offer. This always includes depositing a minimum amount, and, depending on the type of offer, requires a qualifying bet to be placed to unlock the reward.
However, providing those terms are met, the bookmaker will always keep to their side of the deal and credit your account with the free bets or welcome bonus you’ve earned.
So, if you’ve been sceptical about betting sign-up offers before, you should know that they’re not a scam. In fact, once claimed, it can leave your new account looking fairly flush!
With that in mind, here’s a run through of the types of new customer betting offers there are on the UK market and a brief explanation of how they work.
Bet & Get Free Bets
The Bet & Get free bet promotion is the most common welcome offer on UK betting sites.
The offer guarantees a certain amount in free bets when a new player registers, makes a deposit and bets a set amount of money, which can vary from £5 to £20.
Bet £10 Get Free Bets is the most popular version of this welcome offer, with new players able to claim anywhere between £10 and, sometimes, up to £60 in free bets from their first £10 stake, depending on the bookmaker.
Matched First Bet Offer
Another popular sign up promotion is the Matched Free Bet offer.
Here, the bookmaker will match the first qualifying stake placed with a free bet. In most cases, a bettor’s first bet is matched up to a certain percentage, usually up to 100%.
For example, a 100% bonus on a £10 bet will reward the new customer with a £10 free bet. Matched first bet offers up to 50% are also common.
It must be noted that a Matched Free Bet is not the same as Matched Betting, which is something completely different.
Enhanced Odds New Customer Offer
With this offer, the odds are boosted for selected outcomes, with bettors able to receive higher returns than they would with standard odds. Note that qualifying bets are usually limited to £1.
If the bet is successful, the player will receive the payout from the regular bet, with the winnings from the enhanced odds paid out in free bet tokens.
Bookmakers often offer enhanced odds promotions to entice new customers before high-profile events like big Premier League and Champions League games and prominent boxing fights.
Money Back Offers
Although not as popular an offer as those above, money back offers are still available on a handful of UK betting sites.
Essentially, the offer acts as an insurance policy for a new player, with the bookie crediting a free bet up to a certain amount should their first bet lose.
Similarly, a bookmaker may offer money back on losses with a percentage of the players’ losing bets accumulated on the first day of signing up, paid back as a free bet.
Deposit Bonus
A small number of gambling operators in the UK operate online casinos but still offer an online sports betting offering as part of its product.
With such sites, a deposit match bonus is often available. With these type of offer, a player’s first deposit is matched up to certain percentage, usually up to 100%.
For instance, a deposit bonus presented like this: 100% up to £100, means the bookmaker will match a first deposit in full (100%) up to £100 (the maximum amount).
Related: How to find the best free bet sign up offers in the UK