Anyone who likes betting has probably claimed a free bet promotion at some point in their life. Most betting signup offers include free bets, but you can also grab them as an existing customer with many bookmakers.

Their popularity is centred around the fact that your own money is not at risk, but you can scoop a cash payout.

Free bets for existing customers are offered in various different ways. Usually, you have to meet some requirements or place a qualifying bet on a particular event. Depending on the terms, you might get a free bet automatically, or you may only get it if your bet loses.

Existing customers can claim free bet promotions every week on some betting sites.

Most free bet offers that you see promoted on websites or on television are for new customers, but there are dozens of free bet promotions that you can claim even if you are already registered with most top bookies or you simply don't want to sign up with more betting sites.

Bookies offer free bet promotions to their current players so that they can retain them as customers, and that means that you can benefit in a big way!

A free bet is exactly what it sounds like. You can place a bet on certain sports, races, or tournaments without needing to wager your own money. However, the terms of the free bet may vary depending on the stipulations and the bookmaker.

Your free bet promotion may come in the form of credits that you can wager on any market, or instead you could receive your stake back as a free bet if a wager that you place does not work out in your favour. The latter, in which you do use your own money initially, is often referred to as a risk-free bet. 

The likelihood is that you'll need to have money in your online betting account in order to take advantage of free bet promotions. No deposit free bets are rare, and even if they do pop up, they won't be high in value.

Be sure to check the terms and conditions that apply to your free bet promotion so that you can be sure of enjoying it to the fullest.

The range of different free bet promotions offered by bookies is vast. The difference between one free bet promotion and the next may not be huge, but it is important to understand the terms of each variation.

• Stake not returned (SNR)

A standard free bet that is given by a bookie to a customer as a bet credit can be referred to as a 'stake not returned' free bet. The premise is very simple. You receive the free bet then place it on a selection and if it wins, you get the winnings but the stake isn't included in the returns like it would be if you placed the bet with real cash. The actual profit you get is the same, though.

• Risk-free bet

With a risk-free bet, you need to place an initial wager with your own money but if it loses, you get your stake back, usually in the form of a free bet. The term 'risk-free' is not entirely accurate if you don't get the refund in cash, but this is still a good free bet promotion that existing customers can claim on some betting sites.

• Money back if 'X' happens

Many money back offers involve a refund as a free bet if something specific happens in the event. Lots of these offers revolve around horse racing, so you may get your money back as a free bet is your pick comes second or is beaten by a length.

• Bet and Get

Many free bet promotions require you to place a qualifying bet in order to receive the bet credit. The promo tagline often involves the words 'Bet and Get', and that simplifies the deal and what you need to do. Many betting signup offers, such as Bet 10 Get 30, use this wording, and it is the same with some existing customer promotions.

• Free bet for every goal

One of the more creative and interesting free bet promotions for existing customers involves free bets being given out each time a goal is scored, or something similar. The likelihood is you'll need to place a bet on a certain match or market in order to qualify, and then you receive a number of small free bets. If a bookie sponsors a football team they might run a promo like this.

• Free Bet Club

Free Bet Clubs are ongoing promotions that a number of betting sites now run. You need to place a designated number of bets per week or stake a total amount on certain markets each week, and as a reward, you will get a free bet.

Many online betting sites offer free bet promotions to their players. If you register with multiple bookies, you give yourself more opportunities to claim the various free bet promos for existing customers.

The below bookmakers are known to provide their users with free bets, among other betting offers.

Free Bet Promotions for Existing Customers

1. 888sport - £5 free bet when you win at 4/1+
2. Betway - Free Bet Club
3. Betfair - Free Bet Streak
4. Betfred - Free bet if 2nd on selected races
5. Paddy Power - Paddy's Rewards Club free bets
6. Bet365 - Soccer Substitute Guarantee
7. MansionBet - Weekly free bets via MansionBet Club
8. Coral - Place 3 x £5 in-play bets to get a £5 free bet