Calculating Free Bet Winnings at Sports Betting NZ Sites
Just about every sports betting NZ site or international online bookmaker offers free bets or bonuses in some form or another. While there are many different types of promotions, in most cases there are certain terms and conditions that are included in the fine print. Without reading the T&C’s you could end up losing a lot more money that what you win. So how does one go about calculating winnings from a free bet? Let’s find out!
Deciphering All The Info
The first step is to find out exactly what type of reward is on offer. There are at least 4 different types of promotions found online, but in New Zealand, only 2 features regularly. The first is the classic “make a deposit and receive a free bet” promotion. This is known as a cash free bet and is often displayed as a numerical value, such as $20 or $50. On the surface it seems like the site is handing over $50 as a thank you for signing up.
Cash Free Bets
The most important thing to remember here is that bookmakers don’t just give away free money. They make it all back sooner rather than later. In this case you first have to place a wager of your own money before you get your hands on the “free money”. Also in order to actually receive your reward, you need to place a wager of the same amount at odds of 2.00 or higher, which makes it less likely to win.
Once you have placed your own $50 wager with your own cash, you can use your reward. Again, there are certain stipulations on the odds and in most cases the markets. If you find yourself a decent market and a reasonable punt, calculating your winnings is fairly simple. With decimal odds, multiply your stake by the odds and then subtract the stake because the bookmaker does not allow you to keep your stake. For example, a $50 bet at odds of 3.00 will be 3x50, or $150 minus your stake of $50, so your winnings come out to $100.
Deposit Match Bonuses
With sports betting in New Zealand, is it is quite common to come across a promo deal where you receive a cash match bonus instead. This is usually a 100% match on whatever you initially deposit. So, if you deposit $100, you receive $100, which you can use to place “free punts”. Again, this is not as cut and dry as it first seems. The bookmaker isn’t just going to hand over $100, they are going to try and make that money back in some way.
With bonus free bets, the terms and conditions attached are quite strict. What usually happens is that you have to rollover your bonus amount a certain number of times before you can withdraw any winnings. The industry standard is 3x or 4x the reward amount, and sometimes the deposit and bonus amount. What this means is that you have to place wagers with your own cash equal to 3x your bonus amount before you get anything out. At least in this case you can keep your stake so calculating your winnings works as per usual.
To successfully complete 4x rollover on a $100 bonus you will have to place $400 down using your own cash at odds of 2.00 or higher before you can withdraw. If this included the initial deposit amount as well, you will have to wager $800 of your own money in order to receive your “free $100” and be able to cash out any winnings. The best sports betting free bets in New Zealand are those that have very low rollover amounts or allow you to place punts with lower odds, and the bookmakers we recommend offer these and other brilliant rewards.