What Are Free Bets?

Free bets are essentially a type of promotion that online bookies use to both attract new customers, and to reward the loyalty of their existing members. They basically let you place a bet for free, i.e. without using any of your own money.

So what exactly are free bets? Well for starters, as well as "free bets", they'll often be described as "bonus bets" or "betting credit", all depending on which online bookie you bet with.

Whatever the term used, free bets are essentially a type of incentive that online bookies use to both attract new customers, and also to reward the loyalty of existing members.

A free bet is basically a way for you to place a bet for free, by using funds that a bookie has added to your accounts balance, rather than funding the bet yourself.

So instead of risking your own money, the bookie gives you a certain amount of "credit" that you can use to place a bet (in whole or in part), without using any deposited funds.

Some bookies also use free bets to encourage further betting activity. But while the bet itself is described as "free", there are usually conditions attached on how to use them.

How Do I Use Free Bets?

Here’s a breakdown of what free bets are, and how they are used. Each bookie will have different requirements for their offers, so make sure you check them out before using a free bet.

1. Earning / Receiving a Free Bet

You may receive a free bet from a bookie in several ways:

• Welcome / signup offer: New customers may be asked to place a qualifying bet (with their own money) and then be credited with a free bet.
• Promotional campaigns: During certain sports events, free bets might be given to both new and existing customers, if you place a certain type of bet.
• Free bet refund / cashback offers: For example, “If you place a certain bet and it loses, your stake may be credited back to you as a free bet.”
• Goodwill / requests: It's quite rare, but some bookies do allow you to request a free bet via their customer service department, or live chat.

Once a free bet is awarded to you by a bookie, it's usually credited to your account in a separate "free bet balance", and is in addition to your real money balance.

2. Using a Free Bet

Again, individual bookies will have different methods for you to activate and use a free bet, but in general, you can usually place free bets using the following process:

• Choose a betting market you want to bet on.
• Add the selection(s) to your betslip.
• If your selection qualifies (as per the offers terms), you’ll usually see an option to "Use available bonus" or "Use free bet" in the actual betslip.
• When you place the bet using the free bet credit, the bookie will deduct the stake from your free bet balance (not your cash balance).

Some betting markets or bet types are often excluded from free bet usage, so it's worth checking out the offers terms and conditions to ensure the bet can be placed using free bets.

3. What Happens When It Wins (or Loses)

What if the free bet loses? You lose nothing, as you've not spent any of your own money.

What if the free bet wins? You receive only the net returns, not the stake as it was a free bet. In other words, the "stake" portion of the free bet is not returned to you unlike normal bets.

This is commonly know as the Stake Not Returned (SNR) Rule that most bookies utilise.

So, if you use a £10 free bet on a bet with odds of 3.0 (i.e. 2/1) and it wins, your return will be £20 (the profit), rather than getting the bets' stake and it's profit of £30, like a normal bet.

The initial stake is excluded which is standard with most free bet offers. For example:

• £10 free bet at odds of 2/1 → you get £20 (i.e. 2 times your stake, which isn't returned).
• £10 free bet at odds of 5/1 → you get £50 (i.e. 5 times your stake, which isn't returned).

4. Expiry, Restrictions & Terms

Free bets always come with terms and conditions attached. Some of the common constraints imposed by online bookies when using a free bet may include:

• Expiry Date: Free bets often must be used within a fixed time period (e.g. 7 days). If it's not used, the free bet usually expires and is deleted from your account.
• Minimum Odds: The free bet may only be used on selections with minimum odds (for example, only markets with odds of 2/1 or higher).
• Market Restrictions: Some markets or bet types (e.g. multiple bets, certain exotic bets) may be excluded from when using a free bet.
• Turnover Requirements: Sometimes, before you withdraw winnings from a free bet, you may need to bet it a certain number of times (rollover or playthrough).
• Single / Partial Use: Some free bets are single-use and must be used in one go; others allow splitting across multiple bets until the free bet balance is exhausted.
• Ineligibility of Deposit Methods: Often deposits via e‑wallets like Neteller or Skrill etc. are excluded from the qualification requirements of a free bet offer.
• Non‑transferability: Free bets are typically account-specific, non-transferable, and also non-withdrawable as they need to be used as your stake for a bet.
• Cash Out: Some bookies let you cash out a free bet, while others don't. Those that do, only let you cash out the profit a bet is generating, and exclude the actual free bet stake.

Because of these restrictions, the "value" of a free bet is less than its nominal amount. A free bet of £10 is rarely equivalent to £10 in cash risked - it’s more like a discounted bet.

What are the Pros & Cons of Free Bets?

Although free bets usually come without any risk, there are still various pros and cons associated with using them. We've highlighted the key points that you need to be aware of.

Pros of Free Bets

• No (or low) Downside: At worst, you lose nothing (if your free bet loses).
• Opportunity for Bonus Profit: You might leverage a free bet to generate winnings without risking your own capital, which in our eyes is bonus profit.
• Flexibility / Experimentation: You can use free bets to try new betting markets or bet types that you might otherwise not have tries or avoided.
• Increased Entertainment / Value: Free bets can make betting more engaging and offer better value for your time, especially when it comes to the entertainment they can bring.

Cons / Limitations

• Stake Exclusion: You don’t get the stake back, which reduces their effective value.
• Restrictions / T&Cs: Minimum odds, limited markets, expiry, etc., reduce flexibility.
• Requirements: Some offers require you wager winnings multiple times before withdrawing.

We've written the article "Are free bets worth it?", which explains the best strategies to maximise the value you get from free bets, as well as expert analysis on conversion rates.

What to Consider When Using Free Bets

So by now we've probably covered the question "What are free bets?" in detail, but what about the other considerations you need to make when deciding which bookies free bets to claim.

1. Read the terms and conditions carefully
Always check a free bets expiry, any minimum odds that your bet needs to be at, the bet types permitted, any withdrawal restrictions it might have, or market exclusions.

2. Use the free bet where you maximise ROI
Because you don’t get the stake back, placing a free bet on a relatively high-odds selection may yield more return. But be cautious with overly risky bets, as they're risky for a reason.

3. Avoid markets outside the permitted types
Stick to betting markets allowed under the free bet promotion (e.g. singles, standard sports). Avoid trying to use free bets on excluded types (if stated).

4. Consider matched betting / hedging
Some bettors use matched bets or hedging to guarantee a small profit. For example, pairing a free bet with an opposing bet on a betting exchange, balancing outcomes. Note: this requires some skill and often exposure to liquidity/commission.

5. Use the full free bet or split wisely
If the bookie allows the partial use of your free bet, you'll need to decide whether to use it all in one large bet, or to split the free bet into multiple smaller bets, with ptentially lower profits.

6. Watch the expiry clock
Don’t let a free bet expire unused. Ensure that you use it before the expiry date.

7. Don’t let the "free" illusion lead to excess risk
Just because a bet is "free" doesn’t mean it’s risk less - your potential winnings are constrained by the terms, and chasing more free bets might lead to reckless betting.

What Free Bets are in a Nutshell

If you were to summarise an answer to the question "what are free bets?" to someone unfamiliar with their concept, you may have to describe them in layman's terms, something like this:

A free bet is essentially like a bookie giving you a voucher to place a bet for free, without using any of your own money. They give you betting credit to use under certain conditions.

If you use the free bet and it loses, you lose nothing. If it wins, you get the profit, but the "voucher's value" (the stake) is kept by the bookie and therefore not returned to you.

You have to use free bets before they expire, and only on markets/bet types the bookie allows.

Free bets are a hugely popular promotional tool used by online bookies to attract and retain customers. They let bettors place bets without risking their own funds, subject to conditions.

While they offer real potential upside, free bets come with restrictions: you don’t usually get the stake back, there are also minimum odds, expiry periods, and other terms to satisfy.

Used smartly (especially in conjunction with hedging or matched betting), free bets can be a way to extract value, or take a profit on a higher odds bet you wouldn't normally have placed.

But they are not magical: the terms are designed to limit exposure and protect the bookie’s margin, so make sure you do your research to ensure you place free bets wisely.

Frequently Asked Questions About Free Bets

Before you go ahead and claim your first free bet offer, here are quick answers to some of the most common questions that we regularly get asked:

• What Are Free Bets?
  Free bets are a type of betting offer that bookies use to both attract new customers, and to reward loyalty. They let you place a bet for free, without using any of your own money.
• Are Free Bets Really Free?
  Free bets are real credit that a bookie adds to your account, but can they really be called 'free'? We explain how they work, the catches to look out for, and what 'free' really means.
• How Do Free Bets Work?
  A free bet is promotional credit added to your account by a bookie. They allow you to place a bet without risking your own funds. If it wins, you receive the profit but not the stake.
• What Are Risk Free Bets?
  Risk free bets are offers that bookies use to encourage betting engagement. With a risk free bet, you bet using your own money, and it's refunded as credit on your account if it loses.
• Do You Get Your Stake Back on Free Bets?
  No, unfortunately you don't get your stake back on free bets. Most bookies offer them under "Stake Not Returned" rules, so if they win you get the profit, but not the stake back.
• What Does Money Back as a Free Bet Mean?
  Money back as a free bet is a type of betting promotion. If a bet loses and meets the criteria set out in the offers terms and conditions, you get your stake back in free bets.
• Can I Cash Out a Free Bet?
  Yes, some bookies do allow you to cash out free bets, but it's not common. You'll need to check the offer's terms and conditions to know whether you can use cash out or not.
• Are Free Bets Worth It?
  Yes, free bets are worth It - if you know how to use them. Read our expert analysis about free bet conversion rates, and the best strategies to maximise their value.

Now that you have a feel for how these promotions work, why not compare the free bets that bookies are currently offering, and find a deal that suits your betting needs.

Responsible Gambling: Free bets should enhance your enjoyment of betting, not create problems. Make sure that you only bet what you can afford to lose. If you're worried about your gambling habits, free and confidential support is available at GambleAware.org.