Free Bet Terms: Stake Not Returned, Minimum Odds and Expiry

The short answer

A free bet is a promotional stake with conditions. If the stake is not returned, a winning bet pays the profit but not the free bet stake. Minimum odds set a price threshold for an eligible bet, while an expiry condition limits when the free bet can be used. The precise rules depend on the offer, so check each condition before placing a bet.

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How a free bet works

1. Check how it is awarded

Start with the offer terms. They should explain whether you need to take an action to receive the free bet and what makes you eligible. A qualifying bet and the subsequent free bet are separate stages, so read the conditions for each one.

For a matched free bet, Betfair says a customer must stake their own money to qualify. That makes the qualifying stake a cost to consider; receiving a promotional stake does not remove the risk of losing the cash bet.

2. Check where the free bet can be used

Look for eligible events, markets and bet types, as well as any minimum odds. A minimum is the lowest price that meets the stated condition. At decimal odds, a price below that minimum does not meet it; a price at or above it meets the price condition but may still need to satisfy other rules.

One Betfair promotion specifies minimum decimal odds of 1.5 for placing its free bet on a single, multiple or Bet Builder. That is an offer-specific condition, not a universal minimum. The promotion relevant to you may use different wording or restrictions.

3. Check the deadline

Betfair says expiry depends on the individual promotion or offer. It also says customers can check the remaining validity in their Bonus Wallet or when placing an eligible bet. For any offer, check the date, time and time zone, and what you must do before the deadline.

4. Understand settlement

Betfair says its free bet stakes are not returned with winnings and its free bet tokens cannot be withdrawn. Under a stake-not-returned rule, the free bet stake is not included in the amount paid on a winning bet. A losing bet does not produce a winning return.

What happens in other circumstances, such as a void selection, depends on the applicable terms and settlement rules. Do not assume the winning-bet calculation answers that question.

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Worked example: a stake-not-returned free bet

Example: Suppose a £10 free bet is placed at decimal odds of 3.00, and its terms say the stake is not returned. If the selection wins:

Calculate the total at the stated odds: £10 × 3.00 = £30.
Deduct the free bet stake: £30 − £10 = £20 paid.

The same result can be calculated as profit: £10 × (3.00 − 1) = £20. If the selection loses, there is no winning payout. This example does not establish what happens if the bet is void.

For comparison within the same example, a winning £10 cash bet at 3.00 would normally return £10 × 3.00 = £30: the £10 cash stake plus £20 profit. The free bet pays £20 because its promotional stake is not returned.

Example: If an offer requires minimum decimal odds of 2.00, a price of 1.80 is too low: 1.80 < 2.00. A price of exactly 2.00 meets the price threshold: 2.00 = 2.00. A price of 2.20 also meets it: 2.20 > 2.00. Meeting the threshold alone does not confirm that the bet satisfies every other condition.

Where rules differ: what to check

Bookmakers’ terms can distinguish between the qualifying bet and the free bet itself. Before betting, read the full offer terms alongside the rules for the bet type. The Gambling Commission says operators should make restrictions on playing with bonus funds clear, including restrictions on bet sizes.

Use this checklist:

Qualification: Is a cash bet required, and what stake, odds and other conditions apply to it?
Free bet stake: How much is awarded, and is the stake returned if the bet wins?
Minimum odds: Does a threshold apply to the qualifying bet, the free bet or both? For a multiple, check whether it applies to individual selections or the overall price.
Eligible bets: Which events, markets and bet types are included or excluded?
Deadlines: When must each action be completed? Check the date, time and time zone.
Settlement: What do the rules say about void bets and other outcomes not covered by a straightforward win or loss?
Restrictions: Are there conditions on using the free bet or withdrawing proceeds?

If a term does not answer your question, the headline offer does not confirm the answer. Check the full rules before relying on an interpretation.

Common mistakes and how to avoid them

Counting the free stake as cash returned. For a stake-not-returned free bet, deduct the promotional stake when calculating a winning payout. Do not apply that calculation automatically to an offer with different stake-return wording.

Treating a token as withdrawable money. A promotional stake and money paid after settlement are different things. Betfair explicitly says its free bet tokens cannot be withdrawn; check the applicable conditions for the offer you are reading.

Mixing up qualifying and free-bet conditions. The odds or deadline for a cash qualifying bet should not automatically be assumed to apply to the later free bet. Read both stages separately.

Confusing expiry with settlement. A deadline for placing a free bet does not by itself explain what happens if the event settles afterwards. Check what the deadline requires and what the settlement rules say.

Relying on an earlier price. Odds can change. Check the price when placing the bet against the relevant minimum, and make sure the other eligibility conditions are met too.

For more on prices and returns, read Fractional and Decimal Odds: Reading and Converting Both. If the offer permits a multiple, see Singles, Doubles and Accumulators: How Multiples Settle. You can also browse the Free Bet Terms and Betting Basics guides.