Bonus Bet (Free Bet)
A promotional wager funded by the bookmaker; a win pays the profit only, with the stake typically withheld from the return.
A bonus bet, also called a free bet, is a promotional offer in which the sportsbook supplies 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 — but the original stake is not returned. This “stake not included” structure is the defining trait separating bonus bets from standard wagers, and it directly determines their true value in practice.
Bonus bets rank among the most common promotional instruments sportsbooks use to acquire new customers and retain existing ones. They commonly appear in sign-up packages, deposit matches, and ongoing loyalty rewards. Because the stake is forfeited on a winning bet, the real value of a bonus bet is below its face amount. A $100 bonus bet, for instance, is not worth $100 — its expected value hinges on the odds at which it is placed, and bettors can maximize that value by deploying bonus bets on longer-priced selections.
Example
A sportsbook grants a bettor a $50 bonus bet as part of a welcome offer. The bettor places it on a selection at American odds of +200. If the bet wins, profit is computed on the $50 stake, returning $100 in profit. However, unlike a standard $50 bet at +200, the bettor does not get the $50 stake back — only the $100 profit is credited. If the bet loses, the bettor risks nothing from personal funds, since the sportsbook supplied the stake. To extract maximum value, the bettor selected longer odds, which raises potential profit relative to the non-refundable stake.
Key Points
- Stake not returned: The defining feature of a bonus bet is that the stake is excluded from the payout on a win. Only the profit portion is credited.
- Best used at longer odds: Since the stake is forfeited regardless of outcome, placing bonus bets at higher odds maximizes the return relative to the bet’s actual value.
- Common promotional tool: Bonus bets feature widely in sign-up bonuses, referral rewards, and ongoing promotions, ranking among the most frequent incentives at legal sportsbooks.
- Subject to restrictions: Most bonus bets carry conditions such as expiration dates, minimum odds requirements, and market restrictions. Review the terms before placing the wager.
- Calculable value: The expected value of a bonus bet can be estimated mathematically from the selected odds, helping bettors decide how to deploy these promotions.