Getting horse racing free bets is a common occurrence in New Zealand online betting. Customers can use them as deposit bonus offers, and loyal existing customers get them too.

Many of these free bets are around the time of the Cheltenham Festival, Melbourne Cup and Grand National for new and existing customers alike. Racing tips are particularly popular around this time too.

We, here at LordOfOdds, have delved into what constitutes a free horse racing bet and what types of bets are available, as well as their most common terms and conditions.

Best Horse Racing Free Bets and Betting Offers

  1. bet365

    • BETMAX365: Exclusive code
    • Fair bonuses and promotions
    • 24/7 customer service
    Up to $100 in Bet Credits
    • Up to $100 in Bet Credits for new customers at bet365. Make a qualifying deposit (min $10), place bets to deposit value, once they are settled, matched amount in Bet Credits available to use. Returns exclude Bet Credits stake. T&Cs, time limits and exclusions apply.
  2. Betway

    • Lots of welcome offers
    • A plethora of markets & games
    • Competitve odds
    Get a Free Sports Bet up to $60
    • New Customers from New Zealand only. Min Deposit: 10 NZD. First deposit matched up to 60 NZD. 1 x wagering at odds of 1.75+ to unlock Free Bet. Credit Card and Debit Card deposits only. T&Cs Apply
  3. LeoVegas

    • Excellent welcome bonus
    • Great range of betting markets
    • 24/7 customer support
    Matched Free Bet up to $50
    • 18+. New customers only. Minimum deposit $20. Place a qualifying bet of $10 or more on odds of 1.8 and receive the free bet once the bet is settled. T&Cs apply.
  4. 10bet

    • Great mobile app
    • Interesting loyalty program
    • Strong welcome bonus
    Claim your up to €50 welcome bonus
    • 18+. The minimum qualifying deposit for this promotion is €15. To be eligible for this promotion, players must input PLAY50 in the ‘Bonus Code’ field when making a qualifying deposit into their Main Cash Account (Balance). Your qualifying deposit and bonus must be wagered five times on: (1) settled single sports bets with odds of at least 1.80; or (2) settled combo bets with odds of at least 1.40 per selection before you can withdraw your bonus and any winnings resulting from it. The wagering requirements must be met within 30 days of your first deposit.10bet’s General Terms and Conditions apply.

    200% Deposit Bonus Offer
    • 18+. The bonus is exclusive to new customers and is given only once. Canvassing leads to disqualification and closure of the account. The minimum deposit is $100. The 200% bonus up to $1000 will be credited within 24 hours of depositing and reviewing the account. The wager attached to the bonus is 40x (deposit + bonus). All sportsbook games, and casino, can use up the bonus. The bonus works in tandem to the general terms and conditions. Once the bonus is activated, the users can check the rollover competition in the corresponding tab of the VIP section.

*Please note that the bet365 bonus code BETMAX365 can be used during registration but does not change the offer in any way.

Content Index

What Is a Free Racing Bet?

Horse racing free bets, luckily, are now quite commonplace. Bookmakers give them as deposit bonus offers to new customers or loyal existing ones. Free betting is great to combine with good racing tips. T&Cs apply as always.

Usually, you may see something like ‘bet $10, get $40 in free bets’ for a deposit bonus. You will need a qualifying bet to kickstart the bonus, and odds restrictions apply on that.

Existing punters can get free horse racing bets too. The best sites such as bet365 may do this randomly. Others will offer free bets as part of money back deal.

Money-back offers can happen every day. For example, the bonus may involve ‘money back if your horse finishes second to the SP favourite’. This means placing a qualifying bet in which odds restrictions apply, for example, 4/1 (5.0) odds minimum; then, if your horse does finish second to the jolly, you get your money back by way of a free bet.

These offers become much more prevalent during major events. Bookmakers in New Zealand give more horse racing free bets when the Melbourne Cup, Grand National or Cheltenham Festival are on show. T&Cs apply at all times.

Horse Racing Free Bets

Types of Free Racing Bets

There really doesn’t need to be a whole host of different horse racing free bets. They pretty much do what you’d expect; the bet is completely free. You only don’t get back the ‘stake’ amount if the bet wins. However, a few types of free horse racing bets are available.

Free Bets for New Players

Bookmakers sometimes give free bets as part of a new player or deposit bonus offers. Usually, a new customer will have to make a first deposit and then place a qualifying bet.

The qualifying bet should be within a set time, usually seven days. Odds restrictions apply on the qualifying bet, for example, minimum betting odds of 2/5 (1.4) in order for it to count.

After the qualifying bet, you can release any free bets. Usually, if $50 in free bets is the bonus, this will come as 5 x $10 free horse racing bets.

Money Back Offers

Money back offers within horse racing are common. They usually offer the punter their money back when a bet is unsuccessful. This can be when one leg of an accumulator lets them down, or their horse loses by a certain number of lengths or by a designated runner.

The money back comes by way of a free bet. This is much more common in major races such as the Grand National, Melbourne Cup or during Royal Ascot or the Cheltenham Festival.

Loyalty Bets

Punters already registered with a bookmaker sometimes get free bets for loyalty. We have more information on this below. T&Cs apply to all types of free bets, while odds restrictions apply to all as well.

Free Horse Racing Bets for Existing Customers

Though not as common as deposit bonus offers, there are horse racing free bets in New Zealand for existing customers.

This sort of ‘loyalty’ bonus is great if you receive good racing tips. You don’t have to risk any of your own money, though T&Cs apply, of course.

Existing customers who bet enough can receive scheduled free bets. However, the best bookmakers, such as bet365, may hand out this bonus seemingly at random.

Once you receive free bets, they are yours to use. You will only not get the betting stake back if you win. Odds restrictions apply in most cases.

One tip: always check your account for any free bets. You may not get an email when they arrive, so you could miss out.

Bet Types Available with Free Bets

Restrictions apply on most horse racing free bets when given as a bonus. One of them is that you can only use the free bets on certain horse racing punts, such as:

  • Win bets: some bookies may restrict free bets to this.
  • Place bets: if you bet with the TAB, you’ll be able to use free bets as a place bet.
  • Each-Way bets: a combo of the two above, an each-way bet can usually be placed as part of a free bet bonus with the best sites. This can boost your odds.

You may need a qualifying bet, odds restrictions apply, and overall T&Cs apply to all free bets, which we highlight below.

Most Common Terms Attached to Free Racing Bets

The dreaded phrase ‘T&Cs apply’ tends to spoil many a bonus. They tend to tip the bonus to the bookie’s favour, but they aren’t all too restrictive when it comes to horse racing free bets.

Here are the most common terms that apply:

  • Minimum deposit required: when free bets are a part of a deposit bonus, you may need a minimum of $10 or more to load the new account first.
  • Free bet in 7 days: some T&Cs apply more often than others, including this. A free bet bonus will always have a shelf life, usually just a week.
  • Qualifying bet: to activate a bonus, you need to place a qualifying bet first. Even the best firms apply odds restrictions to a bonus, such as placing the initial bet at odds of 2/5 (1/4) or bigger.
  • Payment method restrictions apply: these restrictions often apply to those using eWallets such as PayPal. One tip: get the bonus by using Visa or MasterCard, claim the best bonus, and switch payment methods later.
  • Certain events only: there are more free bets in New Zealand for major horse racing events. Bigger odds and free bets are during the Cheltenham Festival, Melbourne Cup Carnival and the Grand National among others.
Horse Tracks And Racing


If you manage to get great racing tips for the Melbourne Cup, try to get the best horse racing free bets in New Zealand to use it on.

Your free bet can be a loyalty bonus or a new customer deal. Minimum odds and T&Cs apply to free bets with even the best bookmakers.

When major meetings such as the Grand National or Cheltenham Festival come around, be sure to apply your racing tips to a cool free bet. Utilise the best betting odds available and read our reviews to make sure you get the best out of your freebie.


Here we’ll answer the key questions about horse racing free bets.

⭐ How does a free bet work?

Bookmakers can give out horse racing free bets as part of a new player/deposit bonus. Also, they can be loyalty offers for existing customers. You can use a free bet in the same way as a normal bet, though you will not get the stake back if you win.

💰 Can you cash out a bonus bet?

No, customers cannot cash out a bonus or free bet when it appears to be going well. T&Cs apply to all horse racing free bets. Odds restrictions apply also.

💵 How do I claim my free bet?

As part of a deposit bonus or new player offers, claim your free horse racing bets when you join. T&Cs apply. Existing customers can claim free bets within their accounts or get them automatically. Odds and other restrictions apply.

🏇 What is the safest bet in horse racing?

To cover running well but not winning in horse racing, an each-way bet is one of the best and safest bets. T&Cs apply to each-way bets.

✅ What is the best bet to place on horse racing?

Most customers get long-term profit with a simple win bet. Horse racing bets on the nose are usually best.