Types of Free Bets
There are several types of free bet promotions you’ll run into at top New Zealand sportsbooks. Here’s an explanation of what kind of bets you’ll most often receive at betting sites. Remember, that with these as with all bonuses tcs apply. So there’s always going to be some rules you need to follow. With online betting the rule are usually easy though, like bets must be placed within a certain time period before the bonuses expire.
Free bets make sports betting on major sports and your other favourites sports events exciting. You can bet on your favourite team winning and have a chance to win real money.
No-Deposit Free Bets
No deposit needed, simply bet and keep what you win (stake not returned usually). No-deposit free bets are the most difficult sports betting promotion to find. When you find one, you better move quickly because it’ll be gone soon.
No-deposit free bet is an entirely free bet you can make at an online sportsbook. These bets are genuinely free, as in you don’t need to deposit anything to make a real-money paying bet. Simply sign up and the bets credited to your account immediately.
The value of these free bets is usually not huge. Most of the time you get a max free bet of $5. However, you can, of course, win up to thousands if you bet right – both acca bets and single bets can yield big wins.
If you win with your no-deposit bet, you can’t withdraw your winnings immediately. Before you can cash out your funds, the bet settlement has an extra steip: you need to first “play it through” a certain number of times (this system is shared by all sports betting sites).
For example, a $5 free bet with a 15x wagering requirement means you need to wager a total of (15×5$) $75 before you can cash out. Bets required for clearing the funds can vary in number (doesn’t matter if you bet one time $50 or make 10 bets of $5), but bets must be placed with the required min odds.
Typically matched free bets (see below) and risk free bets have much more lenient rules and are favored by serious Kiwi bettors. No-deposit bets are really only good for testing a new sportsbook. Occasionally some big online bookmaker, like Betway and William Hill, offer extra no-deposit free bets to their already existing customers.
Note, that your bonus bet expires quickly (especially at Unibet!). So better read the latest soccer tips and place your deposit-free bets immediately after signing up, as they’re usually gone in 24h!
Here’s something you don’t see every day: a $5 no-deposit free bet just for signing up.
Deposit Match Free Bets
Deposit at a sports betting site offering a deposit match bonus, and you’ll receive the amount of your deposit in free bets. These 1st deposit bonuses can yield up to $200 extra to bet with.
Deposit matching is by far the most valuable kind of sports betting sign up bonus you can get. Where a free bet you get without depositing might give you $5 extra, a deposit match can put $100 or $200 extra in your account. So deposit and bet double what you just deposited! These bonuses are much more valuable than the flashier “profit boost” promotions (which pay your winnings double if you win, often done by 888sport) you often see advertised.
Typically you’ll receive your deposit match bets with the first deposit you make at an online bookmaker site. They are a so-called “sign-up bonus”. They most often double your money, so deposit $50 to get $50 in bets for a total of $100, for example.
These bonuses are really worth going for. Money-wise they are bigger and better than any other sports promotion you’ll come across on Kiwi-friendly betting sites. They usually also sport ultra-low playthrough requirements, sometimes as low as 3x, so you can clear the bonus for cashing out with just a few well-placed bets. Bets valid for clearing need to meet min odds, other than that game restriction may apply (sometimes only football or rugby, for example).
Keep an eye out for any payment method exclusions regarding these free bets. Sometimes certain deposit methods are excluded from the bonuses, but typically methods used here in New Zealand (Paysafe, debit card, credit card, Poli) are ok.
Place a real-money bet, receive extra bets from the sportsbook as a thank you.
Extra bets are a more and more common promotion. They are in style somewhere between no-deposit free bets and deposit match ups. Basically, you’re required to make a small real-money bet ($10 or $20 most often) and as a thank you the sports book site gives you free bets.
Risk Free Bets
Often you can find risk free bets at betting sites that also offer free bets. You’ll never find this at betting exchanges, like Betfair. These promos pay you back if your bet doesn’t win. Risk free bets aren’t eligible for being cashed out bets and have min odds you need to match.
Rules & Regulations
Every sports betting promotion comes with a set of rules and regulations that state what you can and can’t do with your free bet.
Here’s free bet rules, terms and conditions in a nutshell:
- No Splitting
You can’t split free bets. If you receive, for example, $20 then you need to bet $20 on a single market
- Minimum odds
There’s usually 1.5 minimum odds you have to meet
- Maximum win
The maximum tends to be in the tens of thousands, so it’s not something to worry about
- Time limit
Free bets have strict time limits. Usually, you only have seven days to use a free bet token you’ve received so use it before it’s gone!
The device you use never matters anymore. You can place the bet with your laptop, Android phone or iPhone via the online bookmakers websites or betting apps and everything (rules, odds, stakes) are the exact same.
Top Tips for Free Bets
- Deposit match-ups are the best
They are worth a lot more money and have easier clearing rules than no-deposit free bets. While you might want to test a new betting site with a no-deposit bonus, for any serious money making you need match-ups.
- Loyalty promos for the win!
Bet at any online sports book for a while, and you’ll start receiving loyalty promos and other goodies to your email. You’ll often receive risk-free bets and free bets, especially around big events like NHL finals, World Cup, NFL Super Bowl, eSports events etc., etc.
- Sign up at Betway
If there’s one site every free bet fan should sign up at, it’s Betway. They have free bet promotions running pretty much every day of the year. As of writing this in February 2023, you get a $10 free bet every week you wager $25 or more. And on top of that, you’ll receive all event specific bets they hand out!
Best Free Bet Site for Kiwis 2023
There’s no contest here. Betway is by far the most generous sports betting site when it comes to handing out free bets. Not even the venrable Bet365 can match it.
Betway does free bet promotions like this all the time!
While you rarely get a no-deposit free bet at Betway, they have you more than covered with all other kinds of free bets. You get one just for wagering $25 per week. You get one when there’s an exciting sporting event (usually for $10). You just keep receiving them as fast as you can bet them!
Betway is a legit, long time betting site. It works well on your phone too (not all betting sites do), so placing a wager on the go is easy. Read our full Betway Casino review. At Betway, you can place sports betting wagers & play your favourite pokies online.
Last updated: 23/08/2022
What is a free bet?
Free bet is a sports betting site promotion, that allows you to place a real-money bet without using any of your own money. Typically, these free bets are valued $10 and have a maximum win amount of around $10.000. Since the bet doesn't cost you anything, it's a risk free way to try to go for a big win.
Can I withdraw winnings from a free bet?
The value of the free bet itself can't be withdrawn Once you place a bet and win with it, the stake is not returned, so if you win $90 with a $10 free bet, you keep $80. There's usually withdrawal restrictions, wagering requirements dictate that you need to wager your winnings a certain times (typically 3-5 times) before you can cash out.
How do I get a free bet?
First, sign up at a sports book that currently is running a free bet promotion. Then follow the instruction on getting the bet. Typically this includes placing a real-money bet of $10 or more with odds of 1.5 or higher, but the details depend on the betting site. For an up-to-date list of free bets see the top of this page.
What are the best betting site bonuses?
NZ gamblers are spoiled for choice when it comes to choosing betting bonuses. Top picks include small free bet bonuses, like LeoVegas $10 free. Alternatively, for more active bettors the best betting site bonus is Guts' ten times bigger 100% up to $100 bonus.
Out of the promotions active in February our top picks include:
- LeoVegas: $10 free
- Karamba: $10 free
- Betway: $100 match-up
- Guts: $100 match-up
See the top of the page for details on each of these promotions.
Is sports betting income taxed in the New Zealand?
In New Zealand gambling is considered a past time or recreational activity. Therefore casual Kiwi players must not pay tax on their winnings. The only time that winnings become taxable is when a player is considered a professional gambler.
What is a risk free bet?
Risk free bet is a type of gambling promotion where you either win or get your stake back if the bet loses. Risk free bets typically return up to $10-$50 and have a max win limit. This is good to keep in mind, because if you go for a huge acca with your risk free bet, you might reach the maximum.