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Free bet value calculator
A free bet is not cash — it is a claim on variance. Lay it off on an exchange and this shows exactly how much of it converts to cash in your pocket.
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Lay stake
Liability
Cash retained
Retention rate
Cash retained is what you keep whichever way the game goes — the bookmaker side pays out the free bet's winnings minus the lay liability; the exchange side pays out the lay stake minus commission. Both land close to the same number.
How it works
Free bets pay out winnings only. The stake itself is never returned. That changes the lay math: the numerator drops the stake and uses the bookmaker odds minus one, so the lay stake needed is smaller than for a normal qualifying bet.
Retention rises with the odds. At short prices you keep roughly 70% of face value; push out past +400 and it climbs toward 80%, limited mainly by how much the exchange will let you lay.
Worked example
| Free bet value | $50.00 |
| Bookmaker odds | 4.00 (+300) |
| Exchange lay odds | 4.10 (+310) |
| Lay stake | $36.76 |
| Cash retained | ≈ $36.03 |
| Retention rate | ≈ 72% |