Free Bet Credit

What is free bet credit?

Free bet credit is a type of promotion a sportsbook offers to new or existing players. There are different forms of free bet credits, and they often come with terms and conditions attached. For instance, as a new customer, you might be offered free bet credits when you deposit money into your account. 

So, for example, a sportsbook might be running a promotion that invites you to deposit up to $10 into your account, to receive $10 in free bet credits. Provided that you deposit sufficient funds into your account and follow the attached terms and conditions, you will be awarded a $10 free bet credit to use on another wager.

This type of free bet credit is also known as a deposit bonus and is a popular welcome promotion offered by sportsbooks. The amount offered will vary from sportsbook to sportsbook, with some betting sites offering to match up to $1,000 deposits with free bet credits.

Some sites offer what is known as no-deposit free bet credits, which are available in your account as soon as you submit your information. These are typically available for smaller amounts of money, but they’re attractive because you don’t need to add any money to your betting account to be eligible for the promotion.

What can free bet credits be used for?

When a sportsbook offers you a free bet credit, you can typically use it for betting on a wide range of sports and for multiple bet types. For instance, you could place a moneyline bet on Columbus Crew to beat LAFC in the MLS, or you could back an NFL parlay involving the Bengals and Browns. That being said, you should read the terms and conditions associated with your free bet credits to ensure that no sports or leagues are excluded. 

How to use your free bet credit

If you meet the eligibility criteria and have placed the qualifying bet (if required), your free bet credits will appear in your sportsbook account. Then, when placing your next bet, you’re given the option of using your free bet credits instead of cash from your account. Simply select the option to use your free bet credits, and you can place your wager using the credits awarded to you by the sportsbook - it’s as simple as that! 

Withdrawing free bet credit winnings

If you use your free bet credit to place a winning wager, you can withdraw the funds from your account. Just be mindful that you won’t be awarded the stake, which is commonplace when you place a bet with your own money. 

So, for instance, if you backed an NFL parlay with a $100 free bet credit at +430, your winnings would be $430. If you were to back the same outcome with your own money, you would actually get $530 from the sportsbook, as you would be due your profit plus your $100 stake back. 

Another thing you need to be mindful of is wagering requirements. While most sportsbooks don’t attach high wagering requirements to free bet credits, as is the case with online casinos, some free bets - like no deposit bonuses - may come with wagering requirements attached. In these instances, you will need to bet the stipulated amount of real money before being able to withdraw your winnings from the sportsbook.

Free bet credit expiration

Free bet credits usually come with an expiry date, so you need to use your credits as soon as you can to ensure they don’t go to waste. It’s not uncommon for free bet credits to expire within a week of arriving in your account, but some might be available for less time. Unfortunately, when your free bet credits expire, you can’t retrieve them, so it’s vital that you use them within the stipulated time. 

Can free bet credits be exchanged for cash?

There’s an important distinction between a free bet credit and cash in your betting account. A free bet credit can only be used to place a bet and will expire if you don’t use it in time. On the other hand, cash can be withdrawn at any time and will not disappear from your account after a stipulated period. 

This is crucial to realize, particularly when a sportsbook offers you a risk-free bet. A risk-free bet provides you with a second chance should your bet lose and might be refunded as cash or as a free bet credit to use on the site. Understanding the difference will ensure that you can make the appropriate selections with your refunded stake.

The verdict: Are free bet credits worth it?

Free bet credits are highly sought after by sports bettors, no matter what the terms and conditions are. After all, provided that you understand the offer, you get the chance to place a sports bet without using your own money, which is hugely advantageous, no matter how you look at it! 

But as mentioned, make sure you read the terms associated with your free bet credits and be sure to use them before they expire. Ultimately, they’re an excellent promotion and one that you should certainly take advantage of when they land in your betting account.