Definition
Free Bet
Also known as Free Bets, Bonus Bet
By Abhinav VasudevanReviewed Editorial policy
In short
A free bet is a sportsbook credit that stakes without your own money, returning only the winnings and not the stake. A £20 free bet at even money returns £20, not £40.
A free bet places a wager without deducting from your balance. The crucial property is that the stake is not returned with winnings.
Stake not returned
Back a £20 free bet at 2.00 decimal odds:
- A cash bet would return £40: £20 profit plus your £20 stake
- A free bet returns £20: the profit only
The free bet is consumed regardless of outcome. This makes its face value misleading: a £20 free bet is worth considerably less than £20 in cash.
Optimal odds
Because you keep only the profit, the value of a free bet rises with the odds.
| Odds | Return on £20 free bet |
|---|---|
| 1.50 | £10 |
| 2.00 | £20 |
| 3.00 | £40 |
| 5.00 | £80 |
| 10.00 | £180 |
Longer odds return more when they win and win less often, so expected value is roughly constant, but the proportion of face value recovered rises. Using a free bet on a short-priced favourite wastes most of it.
The common guidance is to use free bets at odds of at least 3.00. Practical extraction is usually 70% to 80% of face value.
Matched betting
The reliable way to extract value is matched betting: back a selection with the free bet and lay the same selection on an exchange. This removes the result from the equation and converts the credit to cash at a known rate, typically 75% to 80%.
It is legal, it breaches most operators’ terms, and accounts that do it consistently get their promotional access removed.
The terms to check
- Minimum odds: commonly 1.50 or 2.00. Bets below do not qualify
- Expiry: often 7 days
- No partial use: a £20 free bet must be staked in full; you cannot split it
- Cash out usually disabled on free bet wagers
- Excluded markets, frequently including some in-play and enhanced-odds markets
Common questions
Do you get your stake back on a free bet?
No, and this is the key point. A £20 free bet at even money returns £20, not £40. You keep only the profit, which is why free bets recover far less than their face value.
What odds should I use a free bet on?
Longer odds recover more of the face value. At 1.50 a £20 free bet returns £10; at 5.00 it returns £80. The usual guidance is at least 3.00, with practical extraction around 70% to 80%.