Strategy
Free bet
Also called bonus bet
A promotional wager that pays only the profit, not the stake, if it wins.
A $100 free bet at +200 returns $200, not $300 — the stake is not yours and does not come back. This makes a free bet worth substantially less than its face value in cash.
Because only the profit is returned, free bets convert better at longer odds: a bet at +500 keeps a much higher share of face value than one at −200. Typical conversion for a sensibly used free bet lands around 65–75%.
Want the full version? Read the in-depth guide, with worked examples and the math.
See also
- Odds boost — A promotion that improves the price on a specific bet above its normal number.
- Expected value — The average result of a bet per unit staked if it could be repeated indefinitely.