Stake not returned and stake returned
With a normal bet, a winner pays back your stake plus the winnings. A stake not returned (SNR) free bet only pays the winnings, because the stake was never your money. A £10 SNR free bet at 3/1 returns £30, where a £10 cash bet would return £40.
A stake returned free bet pays the stake too, exactly like a cash bet. They're uncommon, so if the offer doesn't say, assume stake not returned.
What a £10 free bet returns at different odds
| Odds | Stake not returned | Stake returned | Rough average value (SNR) |
|---|---|---|---|
| Evens | £10.00 | £20.00 | 50% |
| 2/1 | £20.00 | £30.00 | 67% |
| 3/1 | £30.00 | £40.00 | 75% |
| 5/1 | £50.00 | £60.00 | 83% |
| 9/1 | £90.00 | £100.00 | 90% |
| 19/1 | £190.00 | £200.00 | 95% |
Why the odds matter more with a free bet
Because the stake isn't returned, a free bet on a short price loses much of its worth. On average, and ignoring the bookmaker's margin, an SNR free bet is worth roughly (decimal odds − 1) ÷ decimal odds of its face value. That's about half at evens, and around 90% at 9/1. Longer odds keep more of the value but win less often, so a free bet is still a bet: it can lose, and you should pick the selection on its merits.
Common questions
Can I withdraw a free bet as cash?
No. A free bet can only be used as a stake. Any winnings it produces are usually paid as withdrawable cash, but check the terms, as some offers attach conditions to them.
Can I use a free bet each way?
Often, yes. A £10 each way free bet uses £20 of free bet credit, split between the win and place parts, and each part is settled as stake not returned.
Do free bets have minimum odds?
Most do, commonly around evens or slightly shorter. They also usually expire after a set number of days. Both details are in the offer's terms.