How Do Free Bets Work?

Quick answer: A free bet is a promotional credit added to your account by an online bookie. It allows you to place a bet without risking your own money.

If the bet wins, you receive the profit but not the stake - this is known as Stake Not Returned (SNR). If it loses, you haven't lost any of your own money.

From well established online bookies that have been around for years, through to fast-growing newcomers, all use free bet offers to entice potential customers to sign up and bet with them.

But how do free bets actually work? And are they really “free”?

In this guide, we’ve delved into the concept behind free bets, explained the different types of promotions that bookies offer, and which free bets are most likely to suit your needs.

We've also included examples of how payouts are calculated with free bets, and how to get the maximum value out of the offers that you decide to claim.

If you’re considering claiming a free bet from a new online bookie, this article should clarify things for you, and help you understand how free bets work.

What Is a Free Bet and How Does It Work?

A free bet is basically a form of credit that a bookie adds to your account which can be used to place a bet without using your own funds. In simple terms, it’s like they've given you a bonus bet that has no direct risk to your account balance.

However, there’s an important aspect of free bets that's often overlooked.

If you place a free bet and it wins, you'll receive the profit part of the bet, but won't get the stake back like you would with a normal bet. That's the main difference that makes free bets unique.

When you bet with your own money and win, you always get your stake back plus the winnings. With a free bet, the promotional credit disappears once the bet is settled - whether it wins or not.

Bookies refer to this as Stake Not Returned (SNR), and it’s standard practice. Understanding SNR rules is important, as it directly affects how much value you can get out of a free bet.

Here's an example of how a simple free bet works:

Let's say you sign up to a new bookie and they give you a £50 free bet, and you decide to bet that Man Utd will beat Man City at odds of 3/1.

• Total return of a free bet: £150 (£150 winnings + stake not returned)
• Because it’s a free bet, you only receive the £150 profit
• The £50 stake was a free bet so it disappears from your account
• If the bet loses, you've lost none of your own money

The total return of a normal bet would be £200 (£150 winnings + £50 stake).

Why Do Free Bets Exist?

Bookies compete in a very competitive space. In regulated regions especially, advertising costs are high and attracting new customers is expensive. That’s why free bet offers and similar betting promotions play such an important role in the success of their businesses.

Free bets exist for a number of reasons:

• They enable you to see what it's like betting at a new bookie
• They let you experience new bets like betting in-play, or cashing out a bet
• They encourage new customers to make a first deposit

Bookies basically use free bets as one of the main ways to attract new customers to their betting platforms. They give away free bets as they want you to try betting with them, enjoy the experience, and then hopefully stick around.

So what's in it for me then?

The free bet offers that online bookies use to boost their member count, also give you the chance to sample their platform without diving in headfirst.

You can test the waters so-to-speak, which means placing real bets, and potentially winning some cash - all while limiting how much of your own money is on the line.

Once you understand how free bet work, the whole thing makes much more sense. They're not purely the generosity of a bookie, but they're also not designed to trick you either.

It’s basically a deal: they offer you an incentive to earn your business, and you get the chance to squeeze some real value out of their offer.

Types of Free Bets Explained

Not all free bets work the same way, and there are quite a few different types. The structure of each offer also determines how much value you can hope to get out of them.

1. Bet & Get Offers

If you’re new to betting, this is the type of free bet you'll see the most.

“Bet £10, Get £20 in Free Bets” is one of the most popular offers for a reason as the value of the free bet in this type of free bet, is double that of your qualifying bet.

Here’s How Bet & Get Free Bets Work:

• Sign up and make your first deposit
• Place a small qualifying bet (usually at minimum odds)
• Once your bet settles - win or lose - the free bet's added to your account

And here’s the best part of this type of free bet: your first bet doesn’t even need to win to get a free bet. You’re not betting £10 to make £10 - you’re betting £10 to unlock £20 in bonus credit.

That’s what makes this type of free bet so attractive.

There's only a tiny downside in the fact that you'll need to place a small qualifying bet, but the upside is that the free bet is often double its value.

For those looking to maximise value, Bet & Get offers are often the smartest entry point.

2. Deposit Match Offers

If you’re planning to bet regularly and want to start with a higher value free bet, a deposit match offer can be extremely attractive.

These types of free bets are often advertised as: 100% Deposit Match up to £200 on Sign Up.

To simplify the promotion, whatever you put in, the bookie will match it with free bets of equal value, right up to the stated limit.

That means you’ll gain £400 in betting credit, if you claim the offer above and deposit the maximum £200 into your new online betting account.

For those who already intend to place multiple bets over the short term, it's a serious boost to your betting budget.

These offers usually come with betting requirements, which are often referred to as a rollover.

Here’s How Deposit Match Free Bets Work:

• Sign up and make your a deposit of £200
• £200 bonus credit is added to your account
• You have a betting budget of £400

If this offers terms and conditions stated there was a 3× betting requirement on the bonus credit, you'd need to place £600 in bets before you can withdraw winnings that the free bets generated.

That doesn’t mean you have to lose £600 - it just means the total value of your stakes need to add up to that amount. in order to make a withdrawal.

Deposit match free bet offers will tend to suit:

• Those who plan to bet consistently
• Bettors who enjoy betting on multiple markets
• Anyone comfortable placing higher betting volumes

If you’re only looking to place a single small bet, a "bet and get offer" might be the way to go as it's much simpler than a "deposit match promotion".

But if you’re ready to get properly involved and want extra betting power from day one, these types of offers can really boost your account's balance, and give you more opportunities to win.

3. Risk Free Bets

If you like the idea of minimum exposure, then risk-free bets are the way to go.

Also called money back as a free bet offers, these types of promotions usually mean that you'll receive a refund (in free bets) if a losing bet loses due to certain circumstances.

The conditions for a bookie to issue a refund vary between offers, but will be clearly laid out.

These types of free bets can also be advertised as money back offers. For example: place a first goalscorer bet, and get money back as a free bet if Team A loses.

It’s designed to give you confidence in placing certain types of bets, safe in the knowledge that if they don't win, you'll get your stake back as a free bet.

Here’s How a Risk Free Bet Works:

• Place a £20 first goalscorer bet on Harry Kane
• If your bet wins, you keep the full profit as normal
• If it loses and meets the offers criteria, your stake's refunded as a free bet

So no, it’s not a completely risk free bet as you don’t actually get your stake back in cash. Instead, you get a second shot in the form of a free bet.

But that’s still a powerful position to be in.

It means you can bet at high odds, knowing that if it doesn’t win and meets the T&C's, you haven’t lost your stake, as your account will be credited with a free bet of equal value.

4. No Deposit Offers

Although extremely rare these days, you may come across one of the most appealing free bets that bookies offer - a free bet just for signing up for a new online betting account.

These types of free bets don't require you to make a deposit, and so therefore there's absolutely no upfront commitment for you to make in order to get the free bet.

Typically, they're also low value, such as a £10 free bet when you sign up as a new customer.

They also tend to come with a few conditions attached, things like a betting or rollover requirement, or withdrawal limits on winnings.

But here’s why bettors love them - you get the chance to place a real bet without putting any of your own money on the line.

Whether you fancy a punt on a Premier League match, a cheeky ACCA, or to back a horse you've got a tip on, you’re doing it with the bookies money.

It’s like a trial run but with a genuine upside.

If you win, you may be able to withdraw the profit - subject to the terms and conditions of the promotion. If you lose, you’ve lost nothing but a bit of time.

For bettors who like extracting maximum value from free bets whenever they sign up to a new bookie, no deposit offers are the best deals going.

How Different Free Bets Work

The table above shows how all of the different types of free bets work in terms of their deposit and betting requirements, their typical value, and who the free bets are best suited to.

Free Bet Terms You Need to Know

Free bet promotions are a great way to get more value from the bookies you bet at, but missing a key requirement in the small print can turn a potentially great deal into a missed opportunity.

Here are some of the more important terms and conditions that you should be aware of:

Minimum Odds Requirements:

The qualifying bets that bookies require you to make in order to release a free bet tends to come with minimum odds requirements - usually around 1.50 (1/2) or higher.

Just be careful though, as if your qualifying bet doesn’t meet the free bet offers minimum odds requirements, it won't count amd you'll miss out on the free bet.

Expiry Dates:

Once you've received your free bet from a bookie, just be mindful that it won’t last forever, as many expire within 7 to 14 days of being added to your account.

It's harsh, but free bets that aren't used by the offers expiry date will disappear from your account, never to be seen again.

Stake Not Returned (SNR):

This rule often catches people out, as you don't get stakes back on free bets if they win, as the stake was provided by the bookie, not you like a normal bet.

Because of SNR, free bets carry different values compared to real money bets. For example:

• £10 cash bet at 4.0 (3/1) = £40 return (£30 profit + £10 stake)
• £10 free bet at 4.0 (3/1) = £30 return (£30 profit only)

The difference? With a free bet, your stake isn’t returned to you if it wins - so only the bet's profit is returned to you (£30), but not the original £10 stake.

How to Maximise the Value of Free Bets

Free bets aren’t just a good way for bookies to attract new customers - they're also great opportunities for those keen on sports betting.

When used intelligently, free bets allow extra value to be gained from the betting you'd more thank likely be doing anyway. The key is knowing how best to utilise them.

Smart bettors don’t just use them at the first opportunity and hope for the best. They plan, calculate, and target bets where a free bet can potentially deliver the biggest payoffs.

Here’s how to make every free bet count:

Target Higher Odds

Because the stake isn’t returned with free bets that win, they generate better expected value when used on selections with higher odds.

• A £50 free bet at 1.50 (1/2) would only give you £25 profit
• The same £50 free bet at 5.0 (4/1) could deliver a £200 profit

Since you’re not risking any of your own personal funds with a free bet, it certainly worth going for higher-return selections than maybe you usually would.

Use Qualifying Bets Strategically

If you've decided to claim a Bet and Get offer, the key isn’t to look for a big win for your qualifying bet - it’s about unlocking your free bet with minimal risk.

Many bettors target selections close to the minimum qualifying odds for their first bet. These types of bets are more likely to generate a return, hence the low odds and chance of big profits.

Back a more likely to win bet at low odds and although the payout will be small, at least you got something from your qualifying bet when releasing the free bet!

How to Choose the Best Free Bets

Not all free bet offers are equal. Just because a bookie advertises a high value free bet, doesn’t mean it’s the most suitable deal for your needs.

Smart bettors know that the real value lies in the finer details of a promotion. When choosing which free bets to take advantage of, pay attention to:

Qualifying Bet Size
Lower stakes make it easier to unlock free bets without risking too much of your own money.

Small Print
Complicated rules or hidden restrictions can turn a promising offer into a frustrating experience.

Betting Requirements
Some free bets require you to place multiple bets before you can withdraw any winnings.

Expiry Dates
Free bets that expire quickly are harder to use effectively, and can potentially reduce their value.

Withdrawals
Fast payouts mean you can enjoy your winnings sooner.

Markets and Odds
The more betting options and decent odds a bookie offers, the more opportunities for a profit.

If you're claiming a free bet for the very first time, a good rule is to aim for a low qualifying bet paired with a decent free bet amount. It’s low risk, high potential, and a great way to get started.

Signing up with the right online bookie can turn your first free bet into a real opportunity, which will hopefully set you up for success with them from day one.

Remember, free bets are great promotional tools that you can utilise to increase the value you get from betting. With the right discipline and strategy, something as simple as free bet can become a genuine source of betting value if used wisely.

Are Free Bets Worth It? Final Verdict

For most, especially if you’re just starting out, the answer to the question "Are free bets worth it?" is a resounding yes. They give you a chance to dip your toes into the world of sports betting - without putting too much of your own money at risk.

Here’s what free bets allow you to do:

• Try a New Bookie:
  Explore markets, features, and betting tools with minimal financial exposure.
• Learn How Betting Works:
  Free bets are good to practice placing bets and see how different selections pay out.
• Learn How Betting Works:
  Free bets are good to practice placing bets and see how different selections pay out.
• Compare Bookies:
  Try different betting platforms to find ones that fit your needs before committing long-term.

The key to using these promotions wisely comes down to understanding how free bets work.

Once you've an understanding of the rules, like Stake Not Returned (SNR), minimum odds, qualifying bet requirements etc., you're more likely to have positive experiences with them.

Free bets aren’t something to be wary of - they’re carefully structured promotions that make it easier for new customers to get started at a bookie, and for bookies to engage more users.