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Why do bookmakers offer free bets?

Why do bookmakers offer free bets?
Every day, you'll see bookmaker free bet no deposit to their betting members. You may find this to be quite commonplace because free bets are a standard promotion for any bookmaker. And of course, we don't doubt that we're getting some money directly (of course, through the point system on online bookmakers).

The number of bookmakers offering free bets is increasing, with most of them being online bookmakers. Because no bookmaker would do such a foolish thing for their members, right? And how can online bookmakers do it? We'll explain right away if you're someone who enjoys free betting (although it doesn't quite mean that).
Models of offering free betting money
Currently, according to our observations, there are two types of models for offering free betting money.
Virtual money system, just hit the reload button on the website and you'll be filled with money to continue playing (only applicable to certain games).
Point system (convertible to money or vice versa) rewarding your created account (applicable to only a few products or all products).
However, we only consider the second model for the following reasons:
The money you play with is REAL MONEY, which can be converted into money and you can withdraw it if you meet the conditions (usually a turnover of betting revenue).
Proof that the bookmaker has stronger capital and investment potential.
Therefore, if you find a bookmaker applying the second model, it is a stronger and more potential bookmaker for you.
Why do bookmakers offer free bets?
Everyone understands that this is a promotion of new bookmakers to attract members, right? However, the nature of this free betting promotion is not to give you "fresh money" but to convert it into your playing points at that bookmaker. And some the betting site australia require you to register to receive free betting money through their gaming portal.
For example: 1000 Vietnamese Dong is converted into 1 point at that bookmaker. You register an account there and contact the bookmaker to have points to play.
That's how all betting sites offer free betting money like now. Therefore, they can run sales (which is forcing you to create an account on their gaming portal) while controlling the cash flow (not giving you money, but giving you points to play).
In addition, bookmakers have other purposes that they don't let you know. These things you have to have product development thinking to recognize.
Other purposes of offering free betting money
Not all bookmakers are crazy enough to give you free play money without any other purposes. So let's see what they will do through the action of offering free bet money!
Check for website/port errors
The online betting site comparison of these bookmakers usually have to integrate a lot of games from various providers. Each provider uses different systems, so connecting them requires highly skilled technical teams. However, system errors are inevitable.
A new bookmaker often generates unwanted errors in the system. Offering free betting money will help the bookmaker detect lingering errors and quickly resolve them.
System errors, no matter how small, must be thoroughly resolved because they will affect the flow of money in and out. If the amount is small, it's okay, but if it's up to billions of Dong, it will be serious system errors.
Brand promotion
This is an underlying purpose behind "giving away free money" for you to open an account. Surely, if you have a large betting community, this free betting money is considered as compensation for you to invite others to join.
Therefore, considering the mindset, these free bet amounts play a significant role. Think about it, how can betting be openly advertised on the media or banners everywhere!
Customer behavior research
Typically, the amount of free betting money given is not limited to any one game. You can completely "carry" this money and play all the games available at this new bookmaker. And your action is recorded by the bookmaker by promoting which products you play the most.
In a different market, they would have to spend years to identify what their customers like to promote (because, as I mentioned, it's impossible to carry expensive products and give them away to consumers, and trial products are often used rarely, so customers are hard to recognize products if they use them long term).
Therefore, a new bookmaker must make full use of the capabilities it has to attract participants and brand promotion!
Data collection
If you are a marketer for a brand or a product, you often have to have customer data. The word "DATA" refers to data, or in other words, customer information.
Notice, when you register an account with a bookmaker and receive free betting money, shortly after, the bookmaker will call you. The purpose of this action has two meanings:
Confirm if you are the one who registered the account. If it's you, they will save you in their database.
Confirm if you want to participate. If you are not the one who created the account or are not interested, the bookmaker will still save you in the database to invite you to play over time.
With a small amount of money, they have been able to attract hundreds, thousands, or even millions of players to participate in betting without having to spend money to buy this data. The value of DATA depends on the industry you are in, and if it's high, you may even have to spend billions of Dong (instead of tens of thousands of Dong that bookmakers spend) to obtain it.
However, bookmakers also benefit from being able to classify customers according to their products. From there, this amount of DATA is pre-classified without having to spend effort to have someone advise them.
How bookmakers calculate the profit or loss of free betting promotions
This is a sub-section and it is related to bookmakers, but we still point out for you to know what expenses a betting company will have here! After knowing it, you will understand somewhat that an online bookmaker is just like a service company.
The costs that an online bookmaker has to bear:
Salary for employees
Rent for the betting system
Rent for betting products (because bookmakers are NOT ALLOWED to create betting products according to online laws)
Commission fee paid to product providers
Fee for card services (for transactions with you)
Business license fee (to pay to betting management organizations)
Operating venue rental fee
Company business registration fee
And other incidental expenses. And another VERY LARGE fee is the winning money of the bettors (because if the free betting money meets the withdrawal conditions, the bookmaker will completely lose money, but the money you deposit will cover all the expenses mentioned above so the bookmaker will not lose even if you win and withdraw money).
This is called the risk cost for the bookmaker. However, if a bookmaker can withstand this risk for 1 to 2 years, then surely it is a potential bookmaker in terms of capital, and you can invest in it for the long term!
Depending on the bookmaker model, the expenses will be evenly distributed. And therefore, we conclude that a new bookmaker offering free betting money is a bookmaker with a large investment capital (able to cover all operating and reward expenses for you).
Therefore, this is why we recommend that you play at bookmakers operating under the second model that we mentioned above. This is closer to what is called free betting money from bookmakers.
Conclusion of the article
Based on our analysis, perhaps you already understand somewhat which bookmaker is the best offer free betting money, don't you? They seem free on the surface, but there are still some things to "tie" you in if you want to participate and receive that promotional amount.
However, in the true sense of betting, if you can use that amount of money and win the games and meet the withdrawal conditions, you can still withdraw the money (we don't discuss the scams of bookmakers here). Therefore, we still wish you good luck in your betting!