Dec 06 2011
Free bet conditions are there for a good reason
The gambling industry is massive and is still expanding at a rapid rate each year. This especially applies to the sports betting part of the industry which has exploded with the growth of the Internet.
Today there are so many companies competing to get your custom that is it now a given that you will be offered a free bet to sign up with a particular company. Free bets are a great way to attract customers as everyone loves something free. Every bookmaker and sportsbook must offer a free bet now otherwise they will be at a major disadvantage in the market.
A lot of people bring up questions about the terms and conditions of the free bets that bookmakers offer. However it is important that they protect themselves as they are giving away huge amounts of their revenue for nothing. When the free bet phenomenon first started, they were very easy to claim. Usually you could just sign up and receive free money. However people, now often referred to as bonus hunters took advantage of this and just signed up to as many bookmakers as they could so that they could claim the free money. This had a big financial impact on the bookmakers as they had a huge number of these low value players who weren’t really interested in playing again after the free bet was claimed.
Nowadays free bets are a little harder to claim. They are still very fair though, and they are aimed at customers who want to bet. A common condition for a free bet is that you place a bet of equal amount before receiving the free money. There is nothing untoward about this. A genuine customer would be making a bet and risking money anyway even if there wasn’t a free bet available. Another common condition in order to claim the free bet is that there are minimum odds that first bet must be made on. This too is pretty fair as the odds are usually set low anyway. It’s just to stop bonus hunters betting on something is 99% guaranteed to happen so they don’t lose their stake when claiming the free bet. That said however, there are still several bookmakers that don’t require a minimum odds on your first bet.
The betting industry is highly regulated and every company is thoroughly checked out before beginning operations. Each bookmaker also requires a licence to run. There is no way any of these companies would get away with anything unethical for long. All free bets are fully explained on each bookmaker’s terms and conditions page. There may be some things that customers might think are unfair, but these are only there to protect the company, and like explained in this article, the conditions shouldn’t really affect any genuine punter that joins with intention of being a long-term customer.