Free Bet Calculator: returns and conversion

Work out what a free bet pays on a single, an acca or a Lucky 15, and how much cash you can lock in from it. Free bets pay the winnings only, so the maths differs from a cash bet.

18+. A calculator shows what a bet would return, not how likely it is to win. Set a budget before you bet. Free help: GamCare (UK, 0808 8020 133) · Gambling Care (Ireland).

Free bet returns: stake not returned

Most free bets are "stake not returned" (SNR). If the bet wins you get the winnings, but the free bet stake stays with the bookmaker.

free bet return = free bet × (decimal odds − 1)

Example: a £10 free bet at 4/1 (5.0) wins. You receive £40.00. A £10 cash bet at the same odds returns £50.00, because the £10 stake comes back too. On a multiple, every winning line pays its winnings without the line stake. Tick "Free bet" above and pick the bet type.

Turn a free bet into cash

You can cover the other outcome so the free bet pays the same whatever happens. Lay it at a betting exchange, or back the opposite side at another bookmaker. The calculator sets the cover stake so both results land on the same amount.

The formulas

Lay at an exchange: lay stake = free bet × (back odds − 1) ÷ (lay odds − commission). Your liability is lay stake × (lay odds − 1).

Hedge at another bookmaker: hedge stake = free bet × (back odds − 1) ÷ other side odds.

Worked examples

£10 free bet at 4/1 (5.0), laid at 5.2 with 2% commission: lay stake £7.72, liability £32.43. Free bet wins: £7.57. Lay wins: £7.57. You keep £7.57, a 75.7% conversion.

$25 bonus bet at +250 (3.5), hedged at 1.40 on the other side at a second sportsbook: hedge stake $44.64. Either way you end up $17.86 ahead, 71.4% of the bonus bet.

Conversion by odds

A £10 free bet laid at the same odds with 2% commission:

Back and lay odds	Lay stake	Liability	Cash kept	Conversion
1.50	£3.38	£1.69	£3.31	33.1%
2.00	£5.05	£5.05	£4.95	49.5%
3.00	£6.71	£13.42	£6.58	65.8%
4.00	£7.54	£22.61	£7.39	73.9%
5.00	£8.03	£32.13	£7.87	78.7%
7.00	£8.60	£51.58	£8.42	84.2%
10.00	£9.02	£81.16	£8.84	88.4%

Longer odds keep more of the free bet but need a bigger liability at the exchange, so check you can cover it before you place the bet. Bookmakers can restrict accounts that only use offers, and offer terms (minimum odds, expiry, eligible markets) decide what you can do.

Questions

What does "stake not returned" mean on a free bet?

A winning free bet pays the winnings only. £10 free at 4/1 returns £40.00; the same £10 in cash would return £50.00, because your cash stake comes back.

How do I calculate a free bet return?

Free bet × (decimal odds − 1). For a multiple, each winning line pays its winnings without the line stake.

What is a good free bet conversion rate?

With a lay at the same odds and 2% commission, £10.00 free returns £4.95 at evens and £7.87 at 4/1. Higher odds keep more of the free bet, as the table above shows.

Is a bonus bet the same as a free bet?

Yes. US sportsbooks call them bonus bets and they are almost always stake not returned, so this calculator works for them too.

Can I withdraw a free bet?

No. Only the winnings become cash, and some offers add wagering or a time limit. Read the offer terms before you place it.

Free bet calculator