Quote:
Originally Posted by Toy Soldier
Parm did u know that free bets don't actually cost the bookies anything? Interesting little factoid for you there. Don't be grateful for them, they are an illusion. If you win, the bookies would have lost the same amount if it was a paid-for bet because you get your stake returned as part of normal payout. If you lose, the free bet cancels itself out. Customers use free bets IN ADDITION to placing their usual cash bets, not instead of them, and thus the bookies don't lose out on turnover either (and increase it due to increased footfall / increased online traffic). And most people reinvest the vast majority of their free bet winnings in real cash bets. It's a scaaam.
Also, the industry doesn't refer to them as "free bets" internally because free bets don't exist. They are illegal. It's actually called a "Risk Free Bet" because you don't actually get anything for free.
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You won't be saying that when I take them for over a grand today with my free ten pund bet which will be being placed o a 72p e/w patent. In the horses...
But very interesting to read that.