Can You Withdraw Winnings From Free Bets?

Many online casinos and betting sites offer free bets as a way to attract new players and thank existing players for their loyalty. It’s natural to wonder if you can actually withdraw the winnings from these free bets. The answer is yes, but there are some rules to understand first. 

Often, free bets come with something called “wagering requirements”. This means you have to bet a certain amount before you can withdraw any winnings generated from the free bets. 

For example, if you received a £10 free bet with a 5x wagering requirement, you would need to make £50 worth of bets before you can cash out the winnings from the bonus funds. 

These rules are put in place to make sure people don’t just claim the free bet and then walk away with the money without actually using the site. It’s always a good idea to read the terms and conditions of any free bet offers before claiming them so you know exactly what is required. 

What Happens If You Win a Free Bet?

Winning with a free bet can be exciting. But how does it work? Let’s break it down. 

If you use a free bet and it wins, you usually only get the profit from the bet, not the amount of the free bet itself. For example, if you use a £10 free bet at odds of 3/1, you would get £30 in winnings (3 times £10), but not the original £10 free bet. 

Next, you’ll need to check if there are any wagering requirements on your winnings. This means you might need to bet a certain amount before you can withdraw the money. For example, if there’s a 3x wagering requirement on your £30 winnings, you need to place £90 worth of bets before you can withdraw the £30. 

Always read the terms and conditions carefully to understand what is required. This helps to avoid any surprises and ensures you know exactly what you need to do to access your winnings. 

Can You Cash Out on Free Bets?

Cashing out on free bets is quite different from cashing out regular bets. Understanding how it works can help you get the most from your betting experience. 

Most betting sites do not allow you to cash out free bets early. The cash-out option normally lets you settle a bet before the event is over based on the current state of the event, but this feature typically isn’t available for free bets. 

Even if the site does offer cash-out on free bets, the amount you can cash out is likely to be based only on the profit, not including the free bet stake. For example, if you placed a free bet that stands to win £20, you might only be able to cash out an amount based on the £20, depending on how the event is progressing. 

It’s important to keep an eye on the terms and conditions specific to cash outs and free bets. These rules ensure that everyone gets a fair chance to enjoy their betting experience and neither the punter nor the betting site are unjustly treated. 

Just remember, always check what the rules are for your specific bet. This can help you make better decisions and avoid any confusion. 

Free Bet Not Included In Payout: Why?

You might notice that if you win with a free bet, the original free bet amount isn’t included in your payout. This is a common practice, and there’s a simple reason behind it. 

If an online casino or betting site gives you a free bet, it’s a way to let you place a bet without staking your own money. However, to make things fair, they don’t include the free bet amount in your winnings. 

For example, if you use a £10 free bet at odds of 2/1 and win, you would get £20 (2 times £10) as your payout. But the original £10 free bet won’t be added to your winnings. 

Think of the free bet as a chance to win rather than cash itself. It’s designed to give you an opportunity to earn some winnings. 

Understanding this helps in knowing how free bets work and what to expect. Always make sure to read the terms and conditions of any offer so you’re clear on how the free bet and any potential winnings work. 

Why Can’t I Withdraw Bonus Bet Winnings?

You might be wondering why you can’t simply withdraw your bonus bet winnings immediately. The main reason for this is because of “wagering requirements”. 

When online casinos or betting sites offer bonus bets, they set wagering requirements to ensure players use the platform as intended – i.e. so the casino has a fair chance to win some of the money back and aren’t running at a loss. 

Wagering requirements mean you need to bet a certain amount of money before you can withdraw any winnings from your bonus bets. 

For example, if you win £50 from a bonus bet with a 4x wagering requirement, you’ll need to make bets totalling £200 (4 times £50) before you can withdraw the £50. 

This practice makes sure the bonus bets aren’t simply cashed out right away, allowing the casino or betting site to maintain a fair environment for all involved. 

Always check the terms and conditions for any bonus bet offer before claiming it. This way, you’ll know exactly what to expect and can make informed decisions about your bets and whether the bonus is right for you. Also, always gamble responsibly by sticking to a budget and never chasing your losses.