Gambling has existed as a way for people to (potentially) make money for decades.
Some individuals claim to make a living this way, though you can’t look past the inherent risks of gambling. It may share similarities to trading stocks & shares, but the sheer unpredictability of gambling makes it too risky for most people to look at as a source of income.
With that being said, there’s been a lot of chatter recently about the possibility of making money from gambling without the risk. Some experts claim that you can consistently generate profits by using things like a free spins no deposit no ID verification UK bonus or a free bet.
It sounds way too good to be true – so is it genuinely possible? Can you truly make money for free when gambling without any risks involved? There’s only one way to find out, so let’s explore the arguments.
Making Money Through Gambling Freebies
We introduced the idea of a free spins no deposit bonus in the introduction, but what does that entail?
The simple definition is that a player receives x amount of free spins when they join an online casino as part of a welcome package. No deposit is required, so the spins come to you without any money exchanging hands.
The player then uses these spins on designated slot games and tries to win money. It’s not a complex concept to get to grips with, and it does leave the door open for a genuine possibility: making money for free when gambling.
Use the free spins and see if you win money. There’s always a significant element of luck involved, but there’s a chance to earn money without spending a penny. You could hit a bonus line and earn even more free spins, netting you a big jackpot. No money left your account, yet now you’re taking home a fortune.
How Likely Is It You’ll Win Money Using Freebies?
Just because something is possible, that doesn’t mean it’s probable.
The likelihood of winning money using freebies is slim for a couple of reasons:
- You don’t get many free spins
- Your winnings are subject to wagering requirements
50 spins sounds like a lot, but they can be over in seconds. We’re more interested in the second point, wagering requirements. You might win money using your free spins, but you have to earn enough for the casino to let you withdraw your winnings as cash. Up to that point, they’re kept on the site as bonus funds.
Here’s the kicker: wagering requirements are sometimes as high as 75x. This means you must take your winnings and wager them 75 times before they become cash. It’s not impossible, but it will take A LOT of time.
Granted, making money through any means takes time. If you want to launch a successful startup, you may go through months of losses before you finally make money. The difference is that you must keep winning to wager your free spins. If you start losing, then it’s over. You won’t “lose” any real money, but it shows how hard it is to meet the wagering requirements.
Overall, we’d say that making money for free using this method is extremely unlikely and not worth attempting.
Making Money With Matched Betting
Earning money at an online casino is far more complicated than at an online sportsbook. Sports betting sites present a unique chance to try matched betting.
The Wikipedia page on matched betting describes it as a betting technique individuals employ to profit from free bets and incentives bookmakers offer. Its proponents considered it risk-free in theory-based probability.
In non-technical terms, matched betting uses free bets and helps you make money without suffering losses. The general strategy looks like this:
- You join a betting site that offers a free sports bet when you make a qualifying bet
- You place a qualifying bet on the sports betting site with odds as close to 1.50 as possible
- You open an account with a betting exchange site and place a “lay” bet on the same match (a lay bet is when you bet on the other two outcomes in a match. Your qualifying bet “backs” a team to win and the lay bet bets on a draw of loss)
- You’ll earn a slight loss, which means you get a free bet!
- Use your free bet to back a team with high odds
- Place a lay bet at the betting exchange again
It sounds crazy, but you will win money regardless of the match outcome. This is because you have two bets happening at once, so it’s impossible to lose. One of these is a free bet, so you’re not risking any real money.
How Likely Is It You’ll Win Money Using Matched Betting?
Honestly, it’s almost guaranteed.
There are nuances to it, such as knowing which bets to place. A good rule of thumb is to find a match where the back and lay odds are as close to one another as possible. The biggest concern is how much money to wager when matched betting, though matched betting calculators exist to help with this.
When the steps are followed correctly, it is genuinely 100% possible to win money every time using matched betting. You won’t earn a huge amount each time, but there’s enough to generate a profit slowly.
Summary: Can You Make Money For Free When Gambling?
At the beginning of this article, we asked if it was possible to make money for free when gambling. Based on our discussion, the answer must be…yes! There are ways to make money for free or without implementing gambling risks. It’s not easy, yet you can’t deny it is entirely possible.
