This free bet calculator shows what a free bet is really worth. A £10 free bet is rarely worth £10, because the stake is usually not returned and the odds carry a margin.
The calculator also counts the cost of the qualifying bet, so you can see the value of the whole offer.
Free bet value calculator
The short version
- Stake not returned (SNR): a win pays the profit only.
- Value ≈ free bet × (odds − 1) × the real chance of winning.
- The qualifying bet usually costs a little, because of the margin.
How to use the free bet calculator
Enter the free bet amount, the odds you plan to use, and whether the stake is returned. Next, add the bookmaker margin % and the qualifying stake.
The free bet calculator then shows the free bet’s EV, its value as a % of face value, the qualifying cost and the EV of the whole offer. Check the terms first, since minimum odds and expiry dates can change the value.
Worked example
Worked example
You get a £10 free bet (stake not returned) for a £10 qualifying bet. You use the free bet at odds of 4.00, and the margin is 5%.
The implied chance at 4.00 is 25%. Taking out the margin, the real chance is about 25% ÷ 1.05 = 23.8%.
So the free bet is worth £10 × 3.00 × 0.238 = £7.14, or 71% of face value. The qualifying bet costs about £10 × (1 − 1 ÷ 1.05) = £0.48. In short, the whole offer is worth about £6.67 on average.
What the result means
The figure is an average. In this example the free bet wins £30 about 1 time in 4 and returns nothing the rest of the time. Also, your qualifying bet can lose, so you could be £10 down after the offer. Our guide to free bet value goes further.
Offers are a form of marketing. Therefore, only take one if you would bet anyway, and never chase an offer with money you cannot afford to lose.
Free bet calculator tips
Longer odds keep more of the face value with SNR bets, but you win less often. For example, at fair odds of 2.00 a £10 free bet is worth £5, while at 4.00 it is worth £7.50. To compare offers, see how we rate offers. You can also check a price with the fair odds calculator. The Gambling Commission has set new rules on gambling promotions too.
Related guides and calculators
18+ only. Betting should be fun, and every bet can lose. Set a budget you can afford to lose and stick to it. For free, confidential support, visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.