Beginner free bet guide
How to Make Money From a Free Bet
This is where matched betting starts to feel good. Once the free bet has landed, you are not trying to scrape through a qualifier anymore — you are trying to convert that free bet into real cash. The key idea is simple: go for a higher bookmaker oddsselection than you would on a normal qualifier, but still make sure the exchange lay price is close enough.
And make sure the calculator is set correctly. Most standard sportsbook free bets are stake not returned, so the calculator should usually be switched to Free Bet SNR. If you leave it in the wrong mode, the lay stake will be wrong.
Best free-bet setup
Look for higher odds on the bookmaker, a close lay match on the exchange, and use Free Bet SNR in the calculator for a standard stake-not-returned free bet.
Free bet conversion in one minute
- Use the free bet only after it has been credited and check whether the stake is returned or not returned.
- For standard sportsbook free bets, look for a higher bookmaker price with a close lay match on the exchange.
- Set the calculator to Free Bet SNR if the free bet stake is not returned.
- Enter the free bet stake, bookmaker odds, exchange lay odds and commission.
- Place the free bet with the bookmaker first, then place the lay bet on the exchange.
What you need before you start
- A free bet already credited by the bookmaker.
- Confirmation that the free bet is stake not returned, which is the most common setup.
- A funded exchange account with enough balance for lay liability.
- A close back and lay match on the same selection and market.
Why higher odds help on free bets
With a normal qualifying bet, you usually want tight odds and a tiny loss. With a free bet, it is different because you did not pay for the stake in the same way. That means a higher bookmaker price often gives a better return — as long as the lay odds are still close enough for a good conversion.
The calculator setting that matters most
If the free bet is stake not returned, set the calculator to Free Bet SNR. That tells the calculator to use the correct maths for a free bet where only the winnings are paid. If you accidentally leave it in Qualifier or another mode, the lay stake will be off and your result will not be what you expected.
Step-by-step free bet walkthrough
Step 1
Pick a higher-odds selection for the free bet
When you are using a free bet, you usually want a higher bookmaker price than you would for a normal qualifier because the stake is not returned. That usually means the free bet converts better at bigger odds, as long as the lay side is still a close enough match.
Pick a higher-odds selection for the free bet
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Step 2
Set the calculator to Free Bet SNR
This is the important bit. A normal cash bet and a free bet do not use the same maths. If the stake is not returned, switch the calculator to **Free Bet SNR** before entering the stake, bookmaker odds, lay odds and commission. That gives you the correct lay stake for converting the free bet into cash.
Set the calculator to Free Bet SNR
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Step 3
Lay the same selection on the exchange
Once the calculator gives you the lay stake, go to the exchange, find the exact same market and selection, and place the lay bet. Double-check the lay odds and liability before confirming because this is the step that locks in the conversion.
Lay the same selection on the exchange
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Beginner tips for free bets
- Higher bookmaker odds usually improve free-bet conversion, but only if the exchange lay odds are still close enough.
- Do not automatically pick the biggest odds you can find. A bad lay match can wipe out the benefit of the higher price.
- Most standard sportsbook free bets are stake not returned, which is why Free Bet SNR is the right calculator mode most of the time.
- Always place the bookmaker free bet first, then lay the same outcome on the exchange.
- If you have Smarkets 0% commission, set exchange commission to 0% in the calculator while that offer is live.
Simple free bet example
Say you have a £10 free bet and you find a bookmaker selection at 6.0 with exchange lay odds of 6.2. If that free bet is stake not returned, you switch the calculator to Free Bet SNR, enter the numbers, copy the lay stake and then place the lay on the exchange. That is the standard process for turning the free bet into real cash.
