Betting glossary · F
Free bet explained
Free bet – A free bet is betting credit from the bookmaker that lets you bet without your own stake; usually only the net winnings are paid out, not the voucher amount.
Free bets are among the most common promotions. You receive a voucher for a fixed amount, say €10, and can use it to place a bet. If the bet loses, you lose none of your own money.
The key difference: the stake is not returned
With most free bets, only the net winnings are credited if the bet wins, not the free bet amount itself. This is known as "stake not returned". A €10 free bet at odds of 3.00 therefore pays not €30 but €20.
Winnings from a free bet = free bet amount × (odds − 1)
There are also free bets where the stake is paid out as well. This is stated in the terms and makes a big difference.
Typical terms and conditions
Free bets are almost always subject to rules. Common ones are:
- minimum odds, such as 1.50 or 2.00,
- an expiry date after which the voucher lapses,
- restrictions to certain markets or sports,
- wagering requirements before winnings can be withdrawn.
These terms determine what the free bet is actually worth. A free bet with high wagering requirements can end up yielding considerably less than the amount suggests.
Putting it in context
A free bet is a marketing tool. It is meant to get you to open an account or bet more often. If you use one, do so without changing your own betting behaviour – and do not top up with your own money just to meet a condition.
Related terms
- Odds boostAn odds boost is a promotion in which a bookmaker temporarily increases the odds on a particular selection – usually with a limited maximum stake.
- OddsThe odds show the factor by which your stake is multiplied if the bet wins – and at the same time reveal how likely the bookmaker thinks an outcome is.
- German betting taxIn Germany, sports bets are subject to a 5.3 per cent tax on the stake; depending on the bookmaker, it is priced into the odds or deducted from the stake or the winnings.
- Player protection and limitsPlayer protection covers the statutory and voluntary tools bettors can use to limit their gambling – from deposit limits to self-exclusion.
- Value betA value bet is a bet whose odds are higher than the true probability of the event justifies – it has a positive expected value.
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