A free bet is a bet whose stake is paid for by the bookmaker. You can think of them as risk-free bets. A free bet comes in the form of a specific amount of money that’s credited to your account by the betting site. This amount can be used to bet on particular sports markets and bet types. If your free bet loses, you lose nothing from your real money account. Some betting sites offer such free bets on a regular basis for major sports leagues while others offer free bets as a signup offer.