Won a free bet? Here’s how much you’ll actually be paid out 

A €20 free bet sounds as though you’re being given twenty euros as a gift. However, after winning a bet, the amount credited to your account is not always what you had calculated beforehand. With many free bets, the value of the free bet itself is not paid out along with the winnings. A €20 free bet at odds of 2.00 will therefore not yield €40, but only €20. 

Different rules may apply to bonus bets. And with an odds boost, sometimes it’s not the full odds that are increased, but only the profit portion. On top of that, minimum odds, expiry dates, excluded markets and wagering requirements can determine how much you can ultimately withdraw. 

Anyone who wants to know what a promotion is really worth must therefore look beyond the amount displayed prominently on the banner. In this article, we explain how free bets, bonus bets and odds boosts work, when the original stake is refunded, and which conditions can reduce the final payout. 

First, an important warning for Belgian players 

Free bets, bonus funds and temporary odds boosts are not automatically permitted in the regulated Belgian gambling market. The amended Article 60 of the Gambling Act prohibits, amongst other things, free participation in games, free playing credit and benefits through which providers attempt to attract or retain players, or influence their gambling behaviour. 

In principle, the Belgian Gaming Commission also regards a temporary odds boost as a prohibited advantage. However, a bookmaker is permitted to offer better odds on a structural basis than a competitor, provided that those odds are available to all players under the same conditions and are not presented as a temporary discount or reward. Gambling Club outlined the regulator’s key positions in its article on the Belgian ban on bonuses, cashbacks and odds boosts. 

Nevertheless, Belgian players still regularly come across these terms. This happens, for example, on international websites, in historical promotions or in offers where the precise legal classification is open to debate. In the overview of sports betting offers that test the limits of the law, you can read why it is not just the name, but above all the actual functioning of an offer that matters. 

This article therefore explains what the terms mean in practice. The existence of a promotions page is no proof that an offer is permitted in Belgium, currently active or available to every player. Always check the provider’s licence and the full terms and conditions of the promotion. 

What is the difference between real money and free betting credit? 

With a standard bet, you stake money from your withdrawable balance. If you win the bet, the payout consists of two parts: 

• your original stake; 

• the profit calculated using the odds. 

If you stake €20 in real money at decimal odds of 2.50, the total payout will be: 

€20 × 2.50 = €50 

Of that €50, €20 is your returned stake and €30 is your net profit. If you’re not yet sure exactly how odds and potential payouts are calculated, you’ll find a more detailed basic explanation in our guide to the meaning of odds in sports betting. 

Free bet credits work differently. A free bet is usually a digital token that allows you to place a bet. You generally cannot withdraw the token directly, transfer it or exchange it for cash. Only if the bet wins will an amount be credited to your cash or bonus balance. 

The key detail is then whether the value of the token forms part of the payout. 

Free bet: is the original stake refunded? 

Most free bets operate on the ‘stake not returned’ principle, often abbreviated to SNR. This means that the stake value of the free token is not refunded. Only the winnings are paid out. 

If you use a €20 free bet at odds of 2.50, the calculation is: 

€20 × (2.50 – 1) = €30 

You will therefore receive €30 and not €50. The twenty euros from the token did not come from your own cash balance and disappears once the bet has been settled. 

The difference compared to a normal stake becomes clear in a comparison: 

Bet type	Bet amount	Odds	Payout on a win
Real-money bet	€20	2.50	€50
Free bet with no stake refund	€20	2.50	€30
Free bet with stake refund	€20	2.50	€50

The latter option is also available, but only when the promotional terms and conditions explicitly state that the stake is refunded. Terms such as ‘stake returned’, ‘full stake returned’, ‘full bet’ or ‘stake included in winnings’ are used to indicate this. 

Don’t rely solely on the word ‘free’. Always check whether the terms and conditions state whether or not the stake forms part of the winnings. The general free bet rules of, for example, Betfair explicitly state that their free bet tokens cannot be withdrawn and that the stake is not refunded with the winnings. This is an international example and says nothing about the availability or permissibility of the promotion in Belgium, but it does clearly illustrate how a classic SNR free bet works. 

Free bets and bonus bets are not always the same 

The terms ‘free bet’ and ‘bonus bet’ are sometimes used interchangeably. However, a provider may mean different products by them. 

A free bet is usually a token with a fixed amount, for example €5, €10 or €20. The token must be used in one go on an eligible bet. Any remaining amount may be forfeited. For example, if you use only €8 of a non-divisible €10 free bet, you will usually not get the remaining €2 back. 

A bonus bet can also be a token, but may also consist of bonus funds held in a separate wallet. In the latter case, you may sometimes be allowed to split the amount across different bets. The winnings can then be paid out as real money, but may also be credited to a bonus balance first. 

That is why you should ask three separate questions for every offer: 

1. Can the amount received be withdrawn directly? 

2. Is the stake refunded if you win? 

3. Are the winnings credited as real money or as bonus funds? 

Only when the answer to the third question is ‘real money’ and there are no further wagering requirements do you usually get to withdraw the winnings immediately. 

An Extra Bet may have its own rules 

Providers also use brand names such as Extra Bet, Bet Credit, Bonus Token or Full Bet. These names, on their own, say little about how they work financially. 

A specific historical example is the now-expired Betano Extra Bet for Belgium v Egypt. To receive the Extra Bet, a winning bet of €15 had to be placed first using real money at minimum odds of 1.60. The €20 Extra Bet awarded was then valid for 72 hours and had to be wagered at odds of at least 1.50. Various bet types were also excluded. 

This example illustrates why you shouldn’t just look at the promised amount. The player first had to risk their own money, the qualifying bet had to win, and the token received had a short validity period. Furthermore, the exact payout rule determined how much of any subsequent winnings could actually be received. 

When taking an Extra Bet, you should therefore check the same details as you would for a standard free bet. A different marketing name does not automatically mean that the stake will be refunded. 

How does an odds boost work? 

With an odds boost, you receive higher odds than the standard odds. When betting with real money, the original stake is normally refunded if the bet wins. The boost then applies to the additional winnings. 

Suppose the normal odds are 2.00 and the bookmaker increases the winnings by 25 per cent. Without the boost, a stake of €20 yields the following: 

• stake: €20; 

• normal winnings: €20 × (2.00 – 1) = €20; 

• total payout: €40. 

A 25% boost is often calculated on the profit rather than on the full decimal odds. The extra profit is then: 

€20 × 25% = €5 

In this example, the total payout becomes €45. The effective increased odds are therefore 2.25. 

A common mistake is to simply add 25 per cent directly to odds of 2.00. That would result in odds of 2.50, but that is not how every boost is calculated. Check whether the bookmaker displays the final boosted odds or simply states a percentage. 

With odds of 2.50 and a 25% profit boost, the calculation looks like this: 

• stake: €20; 

• normal profit: €20 × 1.50 = €30; 

• extra profit from the boost: €30 × 25% = €7.50; 

• total payout: €20 + €30 + €7.50 = €57.50. 

Additional restrictions may also apply here. These could include a maximum extra profit, a maximum stake, selected matches, or the condition that the boost cannot be combined with other promotions. 

A different example is the Starsport Welcome Boost, where, according to the terms and conditions described, the highest net winnings within a certain period were multiplied and the reward was awarded as a voucher. The voucher amount then had to be wagered once more. This shows that the word ‘boost’ does not necessarily mean that you immediately receive more withdrawable funds. Before taking part, check whether a boost increases the odds, provides a bonus after the event, or awards a voucher with new wagering requirements. 

Minimum odds determine whether your bet is valid 

Many promotions set a minimum odds requirement. With minimum odds of 1.50, a bet at 1.49 does not count, even if the difference is only 0.01. 

When placing a combination bet, pay close attention to the wording. There are, in fact, two possibilities: 

• the total odds of the combination must be at least 2.00; 

• each individual selection must have odds of at least 1.50. 

These are fundamentally different conditions. A combination with three selections at 1.30 can easily exceed total odds of 2.00, but does not meet the requirement if each individual selection must be at least 1.50. 

In addition, cancelled selections can cause problems. If one part of a combination is declared void, that part is usually settled at odds of 1.00. As a result, the total odds may fall below the required minimum threshold. The bet may still win, but may no longer count towards the promotion. 

For complex combinations, also check the difference between a combination bet, a system bet and a Bet Builder. Promotions may allow a standard combination bet, whilst system bets or Bet Builders may be excluded. 

Validity period: when does the free credit expire? 

A free bet or bonus bet is not usually available indefinitely. Many tokens expire after 24 hours, 48 hours, 72 hours or seven days. 

Please note the difference between the following deadlines: 

• the time by which you must activate the free bet; 

• the time by which the token must be used; 

• the time at which the match must start; 

• the time by which the bet must have been settled; 

• the period within which an awarded voucher must be claimed. 

A free bet that is “valid for 72 hours” may mean that you must place a bet within 72 hours. However, it may also mean that the selected match must have finished in full within that period. This makes a big difference when it comes to a future championship winner or a season-long bet. 

So don’t wait until the last minute. A market may be temporarily closed, the odds may drop below the minimum threshold, or the event may be postponed. Once the voucher has expired, it is not normally automatically converted into cash. 

What are wagering requirements? 

Some providers immediately credit the winnings from a bonus bet to your withdrawable cash balance. Other providers first place the winnings on a bonus balance. In that case, wagering requirements may apply. 

A wagering requirement of 1x on a €20 bonus means you must wager a total of €20 before the balance can be released. For a 5x requirement, you must wager €100. 

However, here too you must read the exact wording. ‘5x bonus’ is not the same as ‘5x bonus plus deposit’. For a deposit of €100 and a bonus of €20, this means: 

• 5 times the bonus: €20 × 5 = €100 wagering requirement; 

• 5x bonus plus deposit: (€100 + €20) × 5 = €600 wagering requirement. 

Furthermore, not all bets always count towards the requirement in full. A provider may exclude live bets, certain low odds, opposing bets or specific markets. A maximum stake per bet may also apply whilst the bonus funds are active. 

Furthermore, a 1x wagering requirement does not mean that you will retain the full bonus amount. You still have to place a bet with it, and that bet may lose. 

Cash-out may invalidate your promotion 

A cash-out allows you to settle an outstanding bet early. This can have consequences for a promotion. 

A qualifying bet on which a cash-out has been used, either in full or in part, often no longer counts towards a free bet. For a bet placed using a free bet, cash-out may be completely disabled. This is partly because the value of the free bet does not form part of the potential payout. 

Even a partial cash-out may be enough to forfeit a promotional benefit. Therefore, do not automatically assume that a lower cash-out amount will be offset by the promised free bet. The promotional terms and conditions usually take precedence. 

How to assess what a promotion is really worth in just one minute 

Before using a free bet, bonus bet or boost, you can go through this checklist: 

Do I have to wager my own money first? 

Check the minimum qualifying stake and whether that bet must win or simply be settled. 

Is the free bet refunded? 

Look for “stake returned”, “stake not returned”, “stake not included” or similar wording. 

Where do the winnings go? 

Check whether the winnings are awarded as cash, bonus funds, a voucher or a new token. 

What are the minimum odds? 

Check whether the requirement applies to the total stake or to each selection individually. 

Which markets are excluded? 

Pay particular attention to Bet Builders, system bets, live bets and markets with a very low margin. 

When does the credit expire? 

Make a note of both the betting deadline and any deadline for the settlement of the event. 

Are there any wagering requirements? 

Check the multiplier, the calculation basis, the maximum stake and the contribution of different bets. 

What happens in the event of a void bet, postponement or cash-out? 

These events may affect eligibility, the minimum odds or the validity of the token. 

Is there a maximum win limit? 

A 50% odds boost sounds attractive, but is worth less if, for example, the extra payout is capped at €10. 

Is the offer permitted and available in Belgium? 

Check the licence and do not rely solely on a Dutch-language website or the Belgian flag. If necessary, use our guide to reliable sports betting in Belgium as a starting point. 

Conclusion: a free bet is almost never the same as free money 

A €20 free bet does not automatically have a cash value of €20. If the stake is not refunded, a winning free bet at odds of 2.00 will only yield €20. With real money, the same bet would pay out €40. 

With a bonus bet, you also need to check whether the winnings can be withdrawn straight away or must first be wagered. An odds boost may increase the full odds, improve only the profit portion, or result in a voucher being issued afterwards. The promotional name therefore does not tell the whole story. 

The most important rule is simple: only calculate the potential return once you know whether the stake is refunded, which odds count towards the bet, and where the winnings end up. Also, check the validity period, excluded markets, cash-out rules and wagering requirements. 

For Belgian players, there is an additional essential check: is the promotion even permitted? According to an update from the Gambling Regulators European Forum provided by the Belgian Gaming Commission, restrictions on bonuses and other gambling incentives remain in force. An attractive banner is therefore never more important than the Belgian licence, the law and the full terms and conditions. 

Sports betting always involves financial risk. Do not use a promotion as a reason to bet more, more often or at higher odds than you had originally intended. Only bet with money you can afford to lose and stop in good time.