This free bet calculator shows what a free bet is really worth. A £20 free bet is rarely worth £20, because the stake is usually not returned and the odds carry a margin.
It also includes the cost of the qualifying bet, so you can see what the whole offer is worth.
Free bet value calculator
Key points
- Stake not returned (SNR): a winning free bet pays the profit only.
- Value ≈ free bet × (odds − 1) × the real chance of it landing.
- The qualifying bet usually carries a small negative value, because of the margin.
Using the calculator
Enter the free bet amount, the odds you plan to use and whether the stake is returned, then add the bookmaker margin and the qualifying stake.
The calculator shows the free bet’s EV, its value as a percentage of face value, the cost of the qualifying bet and the EV of the whole offer. Check the terms first, because minimum odds and expiry dates can change the value.
Worked example
Worked example
You receive a £20 free bet (stake not returned) for a £20 qualifying bet. You use the free bet on Brentford to beat Chelsea at 5.00, in a market with a 6% margin.
The implied chance at 5.00 is 20%. With the margin taken out, the real chance is about 20% ÷ 1.06 = 18.9%.
So the free bet is worth £20 × 4.00 × 0.189 = about £15.09, or 75% of its face value. The qualifying bet costs about £20 × (1 − 1 ÷ 1.06) = £1.13, which leaves the whole offer worth roughly £13.96 on average.
Reading the results
That figure is an average. Here the free bet pays £80 about one time in five and nothing the rest of the time, and your qualifying bet may not land either. Our free bet value (Lesson 20 out of 25 in the Masterclass) guide goes into more depth.
Offers are a form of marketing, so only take one for betting you would do anyway, and only with money you can comfortably afford.
Tips
With SNR free bets, longer odds keep more of the face value, but they land less often. At fair odds of 2.00 a £20 free bet is worth £10, while at 5.00 it is worth £16. To compare offers, see how we rate offers, and check any price with the fair odds calculator. The Gambling Commission has also introduced new rules on gambling promotions.
Related guides and calculators
- Free bet value explained
- Value betting vs matched betting (Lesson 25 out of 25 in the Masterclass)
- All betting calculators
18+ only. Betting should stay fun. Set a budget before you start, only bet what you can comfortably afford, and take a break whenever you need one. For free, confidential support, visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.