What Type of Bonus Bet Inducements are Banned?
All of them!
An example being, the deposit match type of bet with $xxx, and we will match your first bet with $xxx in bonus bets.
Another didn't even require you also to make a bet. A deposit match offer would provide 50%, 100% and in some cases, 300% of your initial deposit, credited to your betting balance as Bonus bets, credits or balance. Whichever name the operator aligned to the offer.
What is a Free Bet?
Bonus bets or a free bet is a balance in your bookmaker account treated separate and different from your real money.
It may not be called a free bet. Options include bonus bets, bonus balance, bonus credit, or even bonus tokens.
Whatever the name, it is a figure earned or awarded to be used in a bet, usually within a given time frame and with other conditions. When you bet with this 'money,' you can earn the profit from the bet, but the bookmaker retains the free bet stake.
What was a Deposit Match?
A deposit match did what it says on the tin. An incentive to open a new account is where the bookmaker matched the value of your first deposit.
With a swathe of operators in Australia both homegrown and offshore licensed, there were many different offers available to choose.
Some might offer a 50% match. 'Deposit $200 get $100 in bonus bets'.
Others were bigger still, Deposit $20 and get a bonus bet of $100, is a 500% deposit match bonus incentive.
The term 'Free bets' was being phased out by the bookmakers as for intents and purposes the term free was, in most cases, misleading.
Some bookmakers offered the 'free bets' for no more than making a deposit. Others required a certain level of spend from the real money deposit before real cash won from the bonus credits is released.
Add to that a wagering requirement whereby the value of the bonus bets had to be 'turned over' a pre-determined amount of time, and releasing those bonus funds was a pretty tricky task.
What is a 'First Bet Match?
A first bet match is different from a deposit match as the player had to make another action after making the first deposit.
There were a couple of ways to deliver the first bet match to a player.
First Bet Stake Match
Exactly as stated, the bookmaker would award a match of the value of the first bet settled on the new account.
Example: Place a $25 bet on a horse in a race and, win or lose, a $25 bonus funds award is received.
First Bet Insurance
This one always used to get me riled. As the insurance works both ways. Not just for the new customer.
First bet insurance covered the value of the first bet settled by offering a match of the stake value if that bet was a loser.
Pretty good, you might think? Well, not really!
No free bet gets awarded if the first settled bet was a winner. So the insurance worked in favour of the bookmaker here. While they could advertise free bets, if the player picked a winning bet to begin their business, the bookmaker didn't have to pay it.
How cool is that for business? Attracting new customers with an offer of a free bet that they never get because they won! That one was a shocker.
First Settled Bet Confusion
Quite often, new customers would not read the full terms and conditions of any incentive offered by a bookmaker. They would happily tick the box stating they had and continue unaware of some terms.
The first settled bet was an example. Here at OLBG, we continuously shouted about this particular term. The bonus incentive for first bet matches was ALWAYS based on the first bet that SETTLED; not PLACED.
A regular occurrence would be a new player registering for an account, based around already knowing which bet they wanted to make first. Maybe a futures bet at enhanced odds for a team to win the AFL.
They would happily make their deposit and first bet. Often at large stakes, thinking that if the bet lost, they were insured and would get the stake back as a free bet.
Let's say they deposited and staked $100 on this. They are expecting $100 bonus funds if the prediction is not correct at the end of the season.
In the meantime, they might make a further deposit and throw $5 on a horse in the next race at Ascot. That horse loses, and the first bet match gets settled against that $5.
Think it wouldn't happen? Trust me; it happened more often than not.
So back to why bonus bets incentives were made illegal, and is it a good thing, or bad thing, and will it help with the gambling problem in Australia?
Why Were Free Bet Advertisements Made Illegal in Australia?
The over-arching reason for the ban on gambling inducement advertising was first and foremost a 'harm-reduction' measure.
Aimed at protecting vulnerable people, both young and old, and those with existing gambling problems.
Australia does have a more significant gambling issue than most countries around the world. There were also calls and complaints from the general public about the intrusive gambling operator adverts during live sporting events on TV.
Complaints stated that the viewers were not interested in gambling and they ruined the enjoyment of the programs.
How Does the Free Bet Ban Help?
First, let's say this. The ban is not going to make problem gambling worse. So there is that side of the argument, although I will address a potential flaw to the ban a little later.
Under the new rules, labeled the 'National Consumer Protection Framework,' or NCPF for short, no bookmaker are allowed to offer free bets, bonus bets or any financial inducement to open a new bookmaker account.
In turn, the belief is, this will reduce the number of problem gamblers and youth in Australian society into being coerced into gambling. Either more than they can afford or for the first time, respectively.
Can You Still Get Free Bets?
The fact that promotions are still available once you have registered with a bookmaker is where the problem lies. The opening of more bookmaker accounts is likely as a direct result of the new restrictions.
Potential players could previously 'shop around' for the most significant free bet deal. As misguided as the practice is, it is the nature of any business to hook a customer from what they perceive to be a good deal.
For years, punters looking for their first, or a new account, could be attracted by these deals. Inducements were very visible.
They would choose one, and off they go.
How do I find out what bookmaker promotions there are?
The fact potential punters can not see what promotions are available is where the problem ironically lies.
Whereas, in the scenario above where each deal was visible to anyone and a single bookmaker account might be opened. Now we have the case where to see what promotions are available you have to register your details and make a new account.
Punters will still go in search for bonus bets and maybe come up with even more incentive-based promotions, once they have registered.
How Do I Choose The Best Bookmaker Without a Free Bet?
Spending a little time investigating what bookmakers have to offer can give you great value going forward. Choosing the wrong bookmaker could have detrimental effects on your profits and losses. So take into consideration these two approaches to selecting the right bookmaker without considering free bets.
- Read user reviews and professional regularly updated reviews of bookmaker sites
- Discover which bookmaker is best at particular sports or which have features others do not.
Where Can I find Bookmaker Reviews?
Take a look at our bookmaker review section. Each bookmaker is covered and given a full test run.
Updated regularly our online bookmaker experts revisit and review any changes, updates, and upgrades. Included are real user reviews. Perhaps you would like to add your own.
Which bookmaker you choose to register with and use will be down to what you want from them.
Given that the interest in a bookmaker now should sway more to what they can offer long term as opposed to quick-fix bonus bets, time should be given to consider the options.
They all offer betting odds on most sports events both at home and abroad. There is little to differentiate in the general sense.
But some are better than others for specific gambling preferences.
Bookmaker Betting Guides | Which is Best for You?
Hours of research have gone into completing bookmaker articles and guides that show which is best for specific sports, features, and betting styles.
Interest in a bookmaker now should sway more to what they can offer long term as opposed to a quick-fix free bet.
Time should be given to consider the options.
Here are some ideas to consider.
We have specific articles on each in our bookies guide section.
Are you looking to answer any of the questions below?
Consider them to choose a new bookmaker. Long-term, they will provide you with better value than a free bet incentive anyway.
- Which sport to you bet on most regularly?
- Is there a type of bet you specialise?
- Are you looking for the best odds?
- Do you want live streaming so you can bet and watch at the same time?
- Which betting app is the best performer?
- Would you like to be able to offer bets as well as make them?
- Where can you place high stakes bets without fear of restriction or closure?
- Which is the best bookmaker for horse racing?
Our View - The OLBG Stance on Free Bets
We have always advocated choosing a bookmaker for what they offer long terms as opposed to a short term, free bet fix.
We don't believe bonus bets are a major consideration for most punters in the first instance but understand in the event of not being sure, they can be the tipping point to making a choice.
We welcome all positive moves for responsible gambling and protecting those with a history of gambling problems. Equally the younger generation just discovering gambling and the vulnerable members of society should be thoroughly informed of what to expect when gambling.
Gambling as a pastime will remain, as will problem gambling but the removal of bonus bets from the advertising marketplace is a positive move.
If potential customers have to take on some further education or receive by proxy in making a bookmaker choice, it can only be a good thing.
We at OLBG will continue to provide researched advice and opinion about the bookmaking industry and how to make the right choices when looking for a new bookmaker.