Different Types Of Free Bet Promotions Explained in Full -

Did you know there are people making thousands of pounds in tax-free profit from free bet promotions?

Bookmakers are always looking to acquire new customers and as such they offer free bets on sign-ups. They also want to keep existing customers happy and they also do this by offering free bets regularly. In today’s article, we are going to cover all the different types of free bets and promotions you can make money from!

Why Do Bookmakers Offer Free Bets?

When you think about it, what makes a bookmaker different? What makes them stand out? After all, 5.0 at Bet365 pays the same as 5.0 at Skybet.

Essentially all bookmakers are the same, so they can only set themselves apart by offering different types of promotions and free bets.

The bookmaking game is a very crowded market now. Smaller firms are popping up all over the place, but most of these firms will lose money. Marketing is expensive these days, and with the number of people doing Matched Betting building a presence in the UK market can be tough.

The bigger firms will always have free bets and promotions because they have the budget. Let’s break down what offers are worth signing up for…

Types Of Free Bets And Promotions:

The most popular types of free bets currently are:

Stake Not Returned (SNR)
Bet Refunds
Qualifying Free Bet
Matched Free Bet
Deposit Bonus
Enhanced Odds Bonus
Refund Bonus
Risk-Free Bet
Stake Returned As Free Bet
Event Bonuses
Early Payout

As you can see, there’s a lot! Let us know if we have missed any in the comments below. Some of these offers can be tricky to understand because of the terms and conditions attached to them, so let us explain…

Stake Not Returned (SNR)

This is the most common type of free bet, often referred to as SNR, or ‘stake not returned.’ Some bookmakers might call it a ‘bet token’ or ‘bet credit.’ Essentially, this means you only receive the winnings from the bet, not the original stake. For instance, a £10 SNR bet winning at 4/1 (5.0) would return £40, rather than the usual £50 (comprising £40 in winnings plus the £10 stake). You’ll frequently encounter this type of free bet, as it’s the preferred option for most bookmakers when offering free bets.

Bet Refunds

Bet refunds are gaining popularity, with promotions like ‘Money Back If Jamie Vardy Scores First’ in a Leicester vs. Arsenal match or ‘Money Back if your horse finishes second.’ Typically, bookmakers limit these offers to specific markets, such as the First Goalscorer market in football.

It’s crucial to carefully read the terms and conditions of bet refunds, as while some bookmakers refund in cash, most offer refunds as free bets in SNR format. This type of promotion benefits bookmakers because it allows for marketing based on specific events, which may not always require a payout.

Qualifying Free Bet

A qualifying free bet is when you have to place a bet to get a free bet. So, for example, Bet £30 to get £10. You will have to place £30 in bets on certain sports and above a certain price to be given a free bet. This is an extremely popular format for bookmakers. Usually, the free bets are given SNR but you should read the T&C’s on each offer. This is usually a good promotion to do because you can be certain of a free bet coming once you have placed your qualifying bet(s).

Matched Free Bet

Getting a matched free bet usually happens when you sign up with a new bookmaker. You will see an offer like; Bet £25 and get a £25 free bet. The qualifying stake is usually much higher than the free bet for existing accounts. This type of promotion isn’t as popular as it once was, but you still see it from time to time as new firms enter the UK market.

Deposit Bonus

Lots of bookmakers will offer you a free bet for signing up with them. However, some will offer you a deposit bonus. A deposit bonus is much better than a simple free bet on sign up as usually there’s a lot more T&C’s attached. With a deposit bonus, usually, you can use it on any market.

Before Matched Betting became massive, bookmakers would offer the deposit bonus as cash with a T&C that you couldn’t withdraw it. Nowadays it’s usually in the form of a SNR bet credit, but there are still firms who will offer you a bonus upon signing up.

Enhanced Odds Bonus

If you check Oddschecker daily, you’ll know what this is!

For example today they have Arsenal at odds of 41.0 to win against Tottenham. It’s hard to know what to make of these offers. They are good for arbing but there’s still the element of not getting any value. What happens if Arsenal don’t win and you don’t lay it back on the exchanges?

You just wasted a sign-up offer that’s what happened. Some of these offers can be crazy, but you still need sporting events to go your way to benefit so there is more risk. In my experience the standard free bet tends to be better value.

Refund Bonus

A refund bonus may sound exactly the same as bet refunds, but not in the bookmaker’s eyes. We have seen offers like this creep into the mainstream lately. You will see things like “Get 10% of your tennis losses back each month.” Any bonus is welcome when you lose money, but it’s not something that most Matched Bettors would chase. It’s good for existing account users rather than people opening new accounts.

Risk Free Bet

You’ll have to be very careful with the terms and conditions here. Every bookmaker is different and some class the term “risk-free” differently to others.

Ladbrokes do a completely risk-free £1 bet for all customers from time to time, and then you will see a promotion called “risk-free bet” but the money back will be returned as a free bet and that free bet will be SNR. That’s hardly risk-free, considering if you placed £5 on a loser – then you’d need to pick a winner at 1/1 (2.0) or bigger with your free bet to get your £5 back. You won’t see a true “risk-free” bet often, however they do exist – like we said that Ladbrokes offer is the true meaning of risk-free – however, it’s only £1!

Stake Returned As Free Bet

Again, this is becoming more popular with bookmakers. You will see sign up offers like “Back Manchester United and if they lose get your stake returned as a free bet.” Usually, there’s a cap on how much of your stake will be returned. This is a good offer for the bookmakers because again you’re relying on a sporting event. It’s nice to have a second chance of getting your money back, but there are way better sign up offers out there. This is a very good offer for existing customers though.

Event Bonuses

Event bonuses usually apply for existing account holders. It’s all based on something happening in a sporting event for the promotion to kick in. Think of Betfred’s Double Delight and Hat-trick Heaven offer; if a player scores first and again, you get double the odds. If he scores first and get a hat-trick you get treble the odds. This is a fantastic offer for existing account holders because you have the chance of a big win and don’t have to jump through any sign-up offer qualifying hoops.

Early Payout

We have saved the best for last. In 2024 this is one of the best promotions to take advantage of.

You will see Bet365, Skybet and Paddy Power paying out on selected football competitions if a team goes 2 Up (full guide here). This is an excellent offer for anybody who likes doing some Matched Betting. For example, if you backed Liverpool and they went two goals ahead and lost – the bookmaker would pay out as a winner on Liverpool and you would win your Liverpool lay on the exchanges. A double win!

Bet365 has no maximum payout too.

There are multiple bookmakers which now offer this promotion in 2024:

Bet365
Paddy Power
Skybet
Boylesports
Coral
Ladbrokes

Will Bookmakers Always Offer Free Bets?

Whilst we don’t know for certain, it’s 99.99% likely they will. Like we said above, free bet offers and promotions are the only way bookmakers can separate themselves from the competition. When the likes of Cheltenham and the Grand National come around each year; bookmakers will be falling over themselves to offer free bets and different kinds of promotions.

If you a Matched Bettor, it’s absolutely brilliant for you. In reality, the common punter has never had it better. They can avail of all sorts of sign-up bonuses, and have plenty of existing account offers like 2 Up’s and accumulator refunds.

What Type Of Free Bets Or Promotions Are The Best?

This is an interesting debate because obviously everyone will enjoy doing something different. We feel that the Early Payout offers are definitely the best. The number of options you have with an early payout are just massive. For example, when Liverpool went 2-0 up against Manchester City recently, they were still trading at 1.36 on Betfair – if you had hedged for a small loss on either side of the market beforehand you could then trade out locking in a profit.

An Early Payout will also mean you’re getting cash too. Not an SNR free bet or bet credit for example. It’s definitely the best offer an existing account holder can do. New account signs up have more options but in terms of the day-to-day offers then nothing compares to the early payout.

Another offer worth doing is the Qualifying Free Bet. For example, Bet £10 Get £10 on the early Saturday football game or horse racing. This is worth doing because you know that there’s a free bet coming, you just have to meet the qualifying criteria.

Where Can I Make Money From Free Bets?

We have come across many websites and services over the years running this site and profiting from free bet promotions myself. Out of all of these sites, there is one standout that I continue to use today and recommend highly. Learning how to take advantage of all these promotions can make you thousands in tax-free profit.