1. This promotion is only new Betfair customers upon registration.

2. To be eligible for the free bet, you must enter the promotion code detailed when registering with Betfair.

3. Only matched† bets on the Exchange or Multiples bets will qualify for this promotion.

4. Qualifying bets must be placed within 21 days of registering your new Betfair account.

5. Only your first bet placed during the promotion period is eligible for this offer. This bet must also be the first settled bet on your account to qualify for the free bet.

6. If the result of your first bet is a loss, your Betfair account will be credited with the free bet up to a value of £25 within 24 hours of the bet being settled. In the event the first qualifying bet wins there will be no credit to your account.

7. Unmatched or voided bets will not count towards this promotion.

"settled" means a bet that has been fully accepted by Betfair in a market that has been settled on a result with all due winnings paid out.

† 'Matched' means offered and accepted on a market of the www.betfair.com website and refers to backers' stake or the liability of a lay bet.

*Your risk is the total liability / money you can lose on a bet. For a back bet this is the amount of your stake. If you are placing lay bet it is your liability on the lay bet. For example if you place a lay bet of £10 at odds of 1.5, your total liability on that bet is £5.