What Is a Free Bet?
A free bet is a credit from a bookmaker that you can stake but not withdraw. If it wins, you usually get the profit only, not the stake. It often has minimum odds and an expiry date, so it is worth less than its face value.
Free bet example: Kaizer Chiefs vs Orlando Pirates
Say a bookmaker gives you a R20 free bet. You place it on Kaizer Chiefs to win at 3.00 (example odds).
This is a "stake not returned" free bet. That means the R20 stake (the money you bet) is not paid back if you win.
- If the match ends 2–1 to Kaizer Chiefs: R20 × 3.00 = R60, minus the R20 stake = R40 paid to you
- If the match ends in a draw or a Pirates win: you get R0
Now compare it with a normal R20 bet of your own money at the same odds.
| Bet type | Your money at risk | Paid if Chiefs win | Paid if Chiefs do not win |
|---|---|---|---|
| Normal bet, R20 cash | R20.00 | R60.00 | R0.00 |
| Free bet, stake not returned | R0.00 | R40.00 | R0.00 |
| Free bet, stake returned | R0.00 | R60.00 | R0.00 |
The free bet risks none of your money. But it pays R20 less than a normal winning bet.
What is the difference between a free bet and bonus money?
A free bet is a single bet token, while bonus money is a balance you can split across many bets. Both are credits, not cash.
- Free bet: a set-size token, such as R20. You use it once, on one bet.
- Bonus money: an amount added to a bonus balance. You can usually split it into several bets.
Bonus money often comes with a wagering requirement (an amount you must bet before you can withdraw). Free bet winnings can have one too. Read our guide to the wagering requirement for how that works.
Stake not returned vs stake returned
With stake not returned (SNR), you get only the profit from a winning free bet. With stake returned (SR), you get the profit plus the free bet amount.
Most free bets are SNR. This table shows a R20 SNR free bet at different odds.
| Odds (example odds) | Normal return | SNR free bet pays | Implied chance | Rough average value |
|---|---|---|---|---|
| 1.50 | R30.00 | R10.00 | 66.67% | R6.67 |
| 3.00 | R60.00 | R40.00 | 33.33% | R13.33 |
| 6.00 | R120.00 | R100.00 | 16.67% | R16.67 |
"Implied chance" is 1 ÷ odds × 100. See our implied probability guide. "Rough average value" is what the free bet pays times that chance. It ignores the bookmaker margin, so the real value is a bit lower.
Notice that a R20 free bet is never worth R20 on average. At low odds, it is worth much less.
Minimum odds and expiry
Minimum odds and expiry are the two rules that most often limit a free bet. Check both before you use it.
- Minimum odds: the free bet may only count on picks at, say, 1.50 or higher. Lower picks are rejected.
- Expiry: the free bet disappears after a set time, such as 7 days. Unused credit is lost.
- Allowed markets: some free bets only work on certain sports, leagues or bet types.
- Cash out: many free bets cannot be cashed out.
An expiry date can push you to bet on a match you would not normally choose. You do not have to use it.
Why free bets are marketing
Free bets are marketing because the bookmaker gives them to get you to open an account and deposit. They are a cost the bookmaker expects to earn back.
The bookmaker earns it back in two ways. First, the free bet is worth less than its face value. Second, many people keep betting their own money after the free bet is gone.
This is why a free bet should never be the reason you join a bookmaker. A licensed bookmaker with clear rules matters far more. See how to check a betting licence.
Read the terms before you use it
The terms tell you what the free bet is really worth. Find them on the offer page before you accept anything.
Look for these points:
- Is it stake not returned or stake returned?
- What are the minimum odds?
- When does it expire?
- Do the winnings have a wagering requirement?
- Is there a maximum amount you can win or withdraw?
If the terms are unclear or hard to find, treat that as a warning. You can always say no to an offer.
Common mistakes
- Thinking a free bet is cash. You cannot withdraw it, and its average value is below face value.
- Expecting the stake back. Most free bets are stake not returned.
- Missing the expiry date. Unused free bets disappear.
- Joining a bookmaker for the offer. The offer is marketing, so judge the bookmaker on its licence and rules.
- Chasing after the free bet is gone. Do not deposit more just to replace it.
FAQ
Can I withdraw a free bet?
No. A free bet is a credit you can only stake. Only the winnings it produces may become withdrawable, and only under the terms.
Do I get the free bet stake back if I win?
Usually not. Most free bets are stake not returned, so you only get the profit part of the win.
What happens if my free bet loses?
You get nothing back, but you also lose none of your own money. The free bet credit is simply used up.
Should I sign up just to get a free bet?
No. A free bet is marketing, and its terms limit its value. Choose a bookmaker for its licence and fair rules, not its offer.