If I were to say “sign up for this site and receive $250 in risk-free bets”, what would your response be? You’d either think it’s a scam or you’d sign up for the free money. Who wouldn’t?
You’ve probably noticed that several sportsbooks will run these promos, but have you ever thought “Why do sportsbooks give free money”?
It doesn’t take a genius to answer this question. The important thing is realizing that there’s most likely some catch, and that’s probably why you’re here.
Okay, let’s get to it.
What is Freeplay
This concept is not new. In fact, it’s one of the oldest in the book when it comes to traditional sportsbooks/casinos.
A central authority (sportsbooks) will give out risk-free bets in order to get the customer hooked. Freeplay can come in the form of free-bet coupons/promos, insurance on losing the first bet, etc.
Usually this is how it works: you place a bet for any amount up to the max free bet, and if you lose the bet, you don’t lose any money.
Why is Freeplay Bad?
It’s free money, right? Well, kinda. Several sportsbooks are now only giving free credit, instead of cash, if you win the bet (Check the fine print!).
Also, let’s be real. When have you won a freeplay bet? If you’re like me, you’d throw it on a first-round leader bet of a random PGA Tour event at +6500 odds.
… But that’s not why free money is fundamentally bad.
Freeplay highlights a major flaw of sports betting: addiction.
These sportsbetting companies are trying their hardest to get you addicted to their product. But why do they do this in the first place?
Why are sportsbooks giving away money?
If you haven’t guessed the answer by now, sportsbooks are giving you money because they are placing a bet of their own. They are betting that you will stick around and continue to bet on their platform. But, why would they care if you place your bets with them?
They aren’t making a bet that you suck at betting. They are betting that you will place several bets. The more money you bet, the more money sportsbooks make. They charge a hidden fee, called “juice” or “vigorish” (”vig”, for short). For more information, read our post on How Sportsbooks Make Money.
Is there a better solution?
Obvious answer: yes
You don’t have to place bets with a sportsbook. You can place bets with your friends or other bettors. Doing so, you will avoid the “juice” or “vig” associated with bets. If you bet $100 per month, you will save around $60/year by betting with friends.
If you want to see how much you will save, check out the calculator on TrueBet.
So, we are not going to give you any money for signing up for TrueBet. We’re giving you something a whole lot better… A sports betting platform that will actually benefit you the more you bet, saving you a ton of money.