Bonus Bet (Free Bet)

A bonus bet, also commonly called a free bet, is a promotional offer from a sportsbook in which the operator provides the stake for a wager at no cost to the bettor. If the bonus bet wins, the bettor collects the profit — the payout minus the stake amount — but the original stake is not returned. This “stake not included” structure is the defining characteristic that separates bonus bets from standard wagers and directly affects how much they are actually worth in practice.

Bonus bets are one of the most common promotional tools used by sportsbooks to attract new customers and retain existing ones. They are frequently offered as part of sign-up packages, deposit matches, or ongoing loyalty rewards. Because the stake is not returned on a winning bet, the real value of a bonus bet is less than its face amount. A $100 bonus bet, for instance, is not worth $100 — its expected value depends on the odds at which it is placed, and bettors can maximize that value by using bonus bets on selections with longer odds.

Example

A sportsbook awards a bettor a $50 bonus bet as part of a welcome offer. The bettor places the bonus bet on a selection with American odds of +200. If the bet wins, the profit is calculated on the $50 stake, yielding $100 in profit. However, unlike a regular $50 bet at +200, the bettor does not receive the $50 stake back — only the $100 profit is credited to the account. If the bet loses, the bettor loses nothing from their own funds since the stake was provided by the sportsbook. To maximize the value of this bonus bet, the bettor chose longer odds, which increases the potential profit relative to the non-refundable stake.

Key Points

• Stake not returned: The defining feature of a bonus bet is that the original stake amount is not included in the payout if the bet wins. Only the profit portion is credited to the account.
• Best used at longer odds: Because the stake is forfeited regardless of outcome, placing bonus bets at higher odds maximizes the potential return relative to the bet’s actual value.
• Common promotional tool: Bonus bets are widely used in sign-up bonuses, referral rewards, and ongoing promotions. They are among the most frequent incentives offered by legal sportsbooks.
• Subject to restrictions: Most bonus bets come with conditions such as expiration dates, minimum odds requirements, and restrictions on which markets they can be used in. Always review the terms before placing the wager.
• Calculable value: The expected value of a bonus bet can be estimated mathematically based on the odds selected, which helps bettors make informed decisions about how to deploy these promotions.