This free bet calculator shows how much you can win from a free bet at any odds. Enter the free bet amount and the odds, choose whether the stake is returned and see your cash winnings straight away.
- Most free bets are stake not returned (SNR), so you only receive the winnings, not the free bet itself.
- A €10 SNR free bet at 5/2 pays €25 if it wins and nothing if it loses.
- Check the offer terms for minimum odds, expiry and eligible markets before you use a free bet.
Enter the odds as a fraction (5/2), a decimal (3.5), evens or American (+150). Switch the free bet type if the offer says the stake is returned.
How does a free bet calculator work?
A free bet is a credit from the bookmaker, not cash. If it wins you are paid winnings in cash, usually without the free bet stake. If it loses you lose nothing from your own balance.
- Stake not returned (SNR): winnings = free bet amount × (decimal odds − 1)
- Stake returned (SR): winnings = free bet amount × decimal odds
Worked example: €10 free bet at 5/2
5/2 is decimal 3.5. For a €10 free bet:
- Stake not returned: €10 × (3.5 − 1) = €25.00 in winnings.
- Stake returned: €10 × 3.5 = €35.00 in total, which is the €25 winnings plus the €10 stake.
- If the bet loses: you receive nothing, and the free bet is used up.
Stake not returned or stake returned: what is the difference?
Nearly all welcome and bet-and-get free bets are stake not returned. The bookmaker credits your account with, say, €10 of free bet credit. If it wins you keep only the profit, because the credit itself is not paid back. A stake-returned free bet is rarer and pays the full return, as a cash bet would, so it is worth more at the same odds.
- Stake not returned: a €10 free bet at 5/2 pays €25.
- Stake returned: a €10 free bet at 5/2 pays €35.
- The offer terms always say which one applies. If they do not say, assume stake not returned and check before you bet.
Free bet vs a cash bet
A €10 cash bet at 5/2 that wins returns €35: your €25 profit plus your €10 stake. The same bet placed with a stake-not-returned free bet returns €25. The €10 difference is the stake. On the other hand, if the cash bet loses you are €10 down, while a losing free bet costs you nothing from your own balance. That is why a free bet is best seen as a smaller, free chance to win rather than €10 of cash.
Worked example: free bet on an accumulator
Many offers let you use a free bet on an accumulator, although some set a minimum number of selections or a minimum combined price. Suppose you place a €10 stake-not-returned free bet on a double at 2/1 and 5/2. In decimal odds that is 3.0 × 3.5 = 10.5, which is 19/2 as a fraction. Enter 19/2 or 10.5 in the calculator above.
- Stake not returned: €10 × (10.5 − 1) = €95.00 in winnings.
- Stake returned: €10 × 10.5 = €105.00 in total.
- If either selection loses: the free bet is lost and you get nothing.
The bigger the price, the less often the bet wins. Use the bet calculator to work out the combined odds of a longer accumulator first.
Common types of free bet offer
- Bet and get: you place a qualifying bet of a set size at minimum odds and the free bet is credited after it settles.
- Welcome offers: a free bet for new customers after a first qualifying bet. Offers change often, so check the live terms on the bookmaker’s own site.
- Event tokens: free bets that can only be used on a particular race, match or tournament.
- Refunds as free bets: a stake refunded as a free bet rather than cash if a certain result happens. The refund is a free bet, so the stake-not-returned rule usually applies when you use it.
A qualifying bet is a normal cash bet, so it can win or lose like any other. You normally still get the free bet after the qualifying bet settles, but the terms decide, so read them first.
What is a free bet worth at different odds?
A free bet’s value depends on the odds you use it at. On a stake-not-returned free bet, your average return at fair odds is the free bet amount multiplied by one minus the chance of winning. That means a longer price is worth more on average, though you win less often. Bookmaker margin reduces these figures slightly in practice.
| Odds used | Decimal | Chance implied by odds | Average value of a €10 SNR free bet |
|---|---|---|---|
| Evens | 2.00 | 50.0% | €5.00 |
| 5/2 | 3.50 | 28.6% | €7.14 |
| 5/1 | 6.00 | 16.7% | €8.33 |
| 10/1 | 11.00 | 9.1% | €9.09 |
This is an average over many bets, not a prediction for any single bet. A free bet at 10/1 will lose far more often than one at evens. There is no approach that removes the chance of losing a free bet.
Check the terms before using a free bet
Free bet terms differ between offers and bookmakers. Read the conditions before you place the bet.
- Minimum odds, which can rule out short-priced selections
- Expiry, as free bets often have to be used within days
- Eligible markets and whether accumulators or each-way bets are allowed
- Whether winnings are paid as cash or carry wagering requirements
- Whether you must use the free bet in one go or can split it
Our guide to free bets and wagering explained covers these terms in detail, and our free bets hub lists offers from licensed bookmakers. This tool does not do matched betting or lay-bet calculations.
How much is a free bet really worth?
A free bet where the stake is not returned (SNR) is worth less than its face value, because you only ever receive the profit. In theory, if the odds are a fair price, a free bet is worth its stake multiplied by the odds fraction: the decimal odds minus one, divided by the decimal odds. The longer the odds, the closer it gets to the full value, which is why most people use free bets on longer prices. These figures are theoretical, before the bookmaker’s margin, and real results vary a lot from bet to bet.
| Odds | Chance implied by the odds | Theoretical value of a €10 free bet |
|---|---|---|
| Evens (1/1) | 50.0% | €5.00 |
| 2/1 | 33.3% | €6.67 |
| 5/1 | 16.7% | €8.33 |
| 10/1 | 9.1% | €9.09 |
Higher odds also mean you lose the free bet more often, so the value arrives in fewer, bigger wins. Never bet more of your own money than you can afford to lose just to unlock an offer.
Free each-way bets
Some bookmakers let you use a free bet each way, splitting it into a win part and a place part. Others only allow win bets, so check the terms. Take a €10 free each-way bet split into €5 on the win and €5 on the place at 10/1 with a quarter of the odds for three places. If the horse wins, you receive €50 profit on the win part and €12.50 profit on the place part, which is €62.50 in total. If it only places, you receive €12.50. Neither stake is returned, because the bet was free. Our each way calculator shows the sums for paid each-way bets.
More calculators
- Bet calculator for singles, accas and Lucky 15s
- Each way calculator
- Odds converter if you need to change the price format
Frequently asked questions
How do you calculate a free bet?
For a stake-not-returned free bet, multiply the free bet amount by the decimal odds minus 1. For a €10 free bet at 5/2 (decimal 3.5), that is €10 × 2.5 = €25.
Is the free bet stake returned if it wins?
On most offers it is not. These are called stake not returned or SNR free bets. Some offers return the stake, so check the terms.
What do I lose if a free bet loses?
You lose the free bet, but nothing from your own balance. That is why a free bet is not worth its full face value.
What odds should I use a free bet at?
It depends on the minimum odds in the offer. On average a free bet is worth more at longer odds, but it also loses more often. Pick the balance you are comfortable with, and remember nothing can promise a win.
Are free bet winnings paid as cash?
Usually the winnings are paid as cash, but some offers attach wagering requirements to them. The offer terms will say.
Do I still get the free bet if my qualifying bet loses?
On most bet-and-get offers the free bet is credited once the qualifying bet has settled, whether it won or lost. Some offers only count certain results, so read the terms for the offer you are using.
Is a free bet the same as a bonus?
Not always. A free bet is credit for a bet, usually with the stake not returned. A bonus is often credited as bonus funds with wagering requirements before you can withdraw. The offer terms explain which one you are getting.
Can I use a free bet on an accumulator?
Often yes, but it depends on the offer. Check whether accumulators, each-way bets or specific markets are excluded.
How much is a €10 free bet worth?
It depends on the odds. In theory, a stake-not-returned free bet at fair odds of 5/1 is worth about €8.33 per €10, and about €5 at evens, before the bookmaker’s margin. The longer the odds, the closer it gets to the full €10.
Can I use a free bet each way?
Only if the bookmaker’s terms allow it. Where they do, the free bet is usually split into a win part and a place part, and the stake is not returned on either. Check the offer terms for the markets and bet types that are excluded.
Is a free bet worth taking?
A free bet can be worth taking if you were going to bet anyway and the terms are fair. Read the minimum odds, expiry and excluded payment methods first, and do not bet more than you can afford to lose to qualify.
Last updated: 11 October 2026.
18+. Please play responsibly. Free, confidential support is available from GamblingCare.ie on 1800 936 725. Calculators are a guide only and do not guarantee what a bookmaker will pay.
