What Does "Money Back as a Free Bet" Mean?

Some of the most common, and often the most misunderstood betting promotions that online bookies offer members, are their "Money Back as a Free Bet" deals.

But what does money back as a free bet mean? Is it the same as getting the money that you originally staked back? And how do these money back promotions work in practice?

Below, we’ll break down the concept of "Money Back as a Free Bet" deals, explain how they work and also differ from other promotions, and walk through real-world examples so you know exactly what to expect before taking advantage of them.

What are "Money Back as a Free Bet" Offers?

"Money Back as a Free Bet" are a type of promotion offered by many of the online bookies that we feature, that gives you a refund in the form of a free bet if your original bet loses.

In other words, you don’t get your actual money back, but you’re given another chance to place a bet - this time using free bets. The key here is that the refund is not cash, but rather a non-withdrawable token that can be used to place another bet for free.

So How do Money Back Offers Work?

Let’s say an online bookie is running a promotion on a major football match: "Money back as a free bet if your first goalscorer bet loses". Here's how it would play out:

• You bet £10 on Salah to score first in the Liverpool v Chelsea game at odds of 5/1.
• The match ends, and Salah didn't score first.
• Under normal conditions, you would lose your £10 stake.
• With a money back offer in play, the bookie would give you a £10 free bet.
• You get to place a £10 free bet instead of walking away empty-handed.

So that's essentially what "Money Back as a Free Bet" means. It’s an online bookie giving you second chance - not a refund in cash, but a free bet that's often equal to your original stake.

Things to Know About Money Back Offers

There are a few important aspects surrounding the money back promotions that online bookies offer their existing members. Here are some of the main points to be aware of:

1. The Free Bet is Non-Withdrawable

This is crucial. When you receive money back as a free bet, you can’t withdraw it as cash. If you place a winning bet with the free bet, you only receive the profit, not the stake. For example:

• You get a £10 free bet from a "Money Back as a Free Bet" offer.
• You use it to back a horse with odds of 4/1.
• The horse you bet on wins.
• You receive the bets £40 profit, but not the actual £10 stake as it was a free bet.

So, the value of money back as a free bet offers are real, but you won't be able to instantly withdraw it as cash, and neither will you get it back if you place a winning bet with it.

2. Usually Applies to Specific Markets or Events

Most of the money back offers that we've come across, are often tied to certain sporting events, markets or bet types. Here are some examples that we've seen over the years:

• Football: "Money back as a free bet if your team loses on penalties"
• Horse Racing: "Money back as a free bet if your horse finishes second to the SP favourite"
• Tennis: "Money back as a free bet if your player loses in a final set tiebreak"

We always recommend reading the small print associated with any money back as a free bet offer in order to fully understand the qualifying conditions prior to placing your bet.

3. Maximum Refund Limits Apply

Online bookies will usually cap the amount they’ll refund as a free bet. For example, a "Money back as a free bet up to £10" means that if you stake £20 and lose, but meet the conditions of the money back offer, you’ll only get £10 back as a free bet.

"Money Back as a Free Bet" Real-World Examples

As previously mentioned, we're familiar with what money back as a free bet means, as we've come across hundreds of these offers over the years. Here are a couple of our favourite types:

Ladbrokes: Football Money Back Offer

Promotion: Bet £10 on any player to score the first goal in the Champions League final. If your player doesn’t score first, get your stake back as a free bet to use on an accumulator bet.

You Bet: £10 on Erling Haaland to score first at odds of 3/1

Outcome: Haaland doesn’t score first. You lose the bet.

Result: You receive a £10 free bet to use on an ACCA.

Coral: Horse Racing Money Back Offer

Promotion: Money back as a free bet if your horse finishes second to the favourite.

You Bet: £5 on Horse A to win.

Outcome: Horse A finishes second, and the favourite wins.

Result: You get a £5 free bet.

In both cases, you’re not winning your original bet, but you're getting another shot at winning, without having to use your own money again, as this time, it's a free bet the bookies given you!

How to Use Your Free Bet

Once you've met the conditions of a bookies money back offer and the free bet is released, it will typically appear in your account under a "free bets" section. To use it, you’ll usually need to:

• Select a market with eligible odds (often minimum odds apply, e.g. 2/1 or greater).
• Add your selection to your betslip.
• Choose to use your free bet from the available options.
• Confirm your bet.
• If your free bet wins, you get the profit only.
• If it loses, you lose nothing as it was a free bet.

As you can see, it's pretty much the same process that you go through when you sign up to a new online bookie, and go to place the free bet that they gave you as a new member.

Differences Between Money Back Offers & Other Promotions

It’s easy to confuse money back as a free bet promotions with the other betting offers involving free bets that bookies keep coming up with, so here’s a quick comparison:

So, while "Money Back as a Free Bet" is not the most generous of promotions in terms of withdrawable funds, it’s still valuable because it gives you a second chance at winning.

This is especially so when you're placing high-risk, high-reward type bets.

Tips to Maximise the Value of Money Back Offers

Maximising the value of the money back deals that bookies offer may help to improve your betting budget. Here are some strategic tips to get the most out of them:

Use the free bet on higher odds:
Since you don’t get the stake back, using it on lower odds offers less value.
A free bet on 1/2 odds gives you just £5 profit on a £10 token.
A free bet on 3/1 odds gives you £30 profit.

Read the terms carefully:
Look out for minimum odds, expiry time (often 7 days), and the eligible markets that the money back offer applies to, as these are often fairly restricted.

Keep track of your free bet balance:
Many users forget they’ve received a free bet token after meeting the conditions of a money back offer. Especially if it comes a few days after you placed the original bet.

Are "Money Back as a Free Bet" Deals Worth It?

Money back as a free bet deals are generally worth taking advantage of, especially when betting on uncertain outcomes like first goal scorers, match results, or certain horse races.

While you won’t get your actual money back, you do get another shot to win, which is still real value, especially if used smartly and if you were planning on placing the bet anyway.

Just remember the following when taking advantage of money back offers:

• You’re getting a free bet, not cash.
• You won’t get the stake of the free bet back if it wins.
• Terms and conditions apply - make sure you read them.

Used wisely, online bookies money back promotions can enhance your betting activity and give you more chances to win - just don't confuse them with no-strings attached cash refunds.