Freebets and betting credits: what are they and when are they used?

Freebets have become one of the main attractions of the big bookmakers. They are very attractive for those who are new to the rich world of sports betting and who are still a bit wary of using their own money to bet.

If you want to know what a freebet is and how it differs from a bonus, read on as we tell you everything you need to know about this type of betting.

What is a freebet

A freebet offers a certain amount of money from the bookmaker, who lends it to the punter to place a bet. However, winnings from a freebet cannot be withdrawn. It is possible to do so with a bonus, but it is necessary to meet certain requirements in order to obtain them. And the conditions can be quite demanding, depending on how each user approaches sports betting.

Freebets are mainly the main attraction of bookmakers and can be obtained in several ways: through temporary promotions, as part of a loyalty tool for inactive users, or by registering as a new user.

Temporary promotions are the most common way to get freebets. From time to time, bookmakers offer a couple of weekly opportunities to win freebets by betting on featured events in any sport. Some may have additional requirements, such as being a new user, but they can also be found without any additional provisions.

Freebets as an incentive for new users are almost always obtained by registering as a new user at a bookmaker. An initial deposit may be required to qualify for a freebet, although in some rooms this requirement may be waived.

Finally, freebets for inactive users are exclusive to those who have not placed any bets or made any deposits in a certain period of time.

Characteristics of betting credits

Although a freebet is not the best way to win money, they are a great tool to start defining our strategies without having to spend our money. Having a betting strategy at hand is essential if we want to get serious about winning money and increasing the potential of our plays, but we won't achieve this if we experiment with money that we are likely to lose.

That's why freebets are ideal for inexperienced bettors who have little to win and a lot to lose and need to put into practice some of the principles of sports betting that they have learnt in theory.

Broadly speaking, here's what you need to know about a freebet:

• They are, in essence, promotions to encourage new bets.
• The money is lent by the bookmaker itself.
• The winnings cannot be withdrawn.
• They are usually associated with a minimum deposit.
• If they are not used before a deadline, the freebet expires.
• They are ideal for beginners who do not want to put their own money at risk.

Freebet vs bonus: basic differences

Although they share some aspects, a bonus and a freebet are different elements that fall within the incentives and loyalty tools used by bookmakers to encourage users and allow them to continue training to perfect their technique, without exposing themselves to losses with new strategies.

Therefore, we cannot consider a bonus and a freebet as the same thing. Freebets are bets on which there is actually no winnings that can be withdrawn. They have no special conditions, as they are a "proof" that the bookmaker lends to the user. However, with a bonus (which we can consider a type of freebet), we can obtain withdrawable winnings. This is the main and big difference between one and the other.

On the other hand, bonuses do not have the same legal validity in all territories as freebets. For example, the case of Spain is quite illustrative: freebets are allowed in some variants, but no-deposit bonuses are not. This incentive was regulated by the Spanish Royal Decree 958/2020 of 3 November on Commercial Communications of Gambling Activities in Spain, which prevented bookmakers from offering welcome bonuses to new users.

However, freebets can be used and are a splendid tool to start getting used to the dynamics of sports betting without exposing yourself to losses. Moreover, since they are offered in a gradual and limited way, they are a good tool to encourage discipline and to establish a learning routine, allowing that once or twice a week any user can enjoy the possibilities offered by a freebet to experiment with new strategies, try a new betting method or simply gain confidence.