Sportsbook

Free bet: a free stake and what it costs

A free bet (bet credit) is a free stake in sports betting. If it wins, the player usually gets only the winnings, without the stake itself. A €10 free bet costs the bookmaker well under €10, and the cost depends on the odds.

Yevhen SychovOctober 2026

Formula and example

Free bet winnings = free bet x (odds minus 1)A €10 free bet at odds of 2.5: if it wins, the player gets €15, and the €10 stake itself is not returned.

What it costs

The expected cost of a free bet is the winnings multiplied by the probability of the outcome. At odds of 2.5 and a market margin of about 5%, the probability of the outcome is about 38%, and a €10 free bet costs about €5.70 on average. The higher the odds, the closer the cost of a free bet gets to its face value.

Which terms to set

  • Minimum odds for the qualifying bet that earns the free bet, and for the free bet itself.
  • Expiry: matched to the upcoming events the player cares about.
  • Markets and sports: ideally the player's favourite sport, league and team.
  • Wagering on winnings, if there is any, and a max cashout for high odds.

Common mistakes

  • A football free bet for someone who bets on tennis. An offer that misses the player's interest does not work at any amount.
  • No minimum odds. The qualifying bet goes on an almost certain outcome just to get the bonus.
  • Costing at face value. For the budget, use the expected cost, not the total of the free bets.
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