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This risk free bet calculator works out the exact lay stake for offers where the bookmaker gives you your money back if your bet loses. Enter your odds, stake, and the value of the refund, and it shows the stake, liability, and locked-in profit for both results before you place anything. It is completely free and there is no sign-up.
Money back offers, sometimes called risk free bets, are among the most valuable promotions in matched betting. Because the refund only arrives when your back bet loses, the standard calculator maths does not apply. This calculator adjusts your lay stake so the refund is priced in from the start.
A risk free bet is a bookmaker promotion that refunds your stake if your first or qualifying bet loses. Common examples include sign-up offers such as "bet up to £20, money back if it loses" and reload promotions like "money back as a free bet if your horse finishes second".
The refund usually comes in one of two forms:
Either way, the loss side of your bet is protected, and that protection has real value. In matched betting you lay the bet at a betting exchange as usual, but you deliberately lay less than normal because the refund tops up the losing outcome. That is exactly what this calculator works out. You can find live money back promotions on our reload offers page.
The calculator loads in risk-free mode with a cashback field ready to fill in. To get your numbers:
Because the refund lands on the losing side, the calculator recommends a smaller lay stake than a standard qualifying bet. That shifts profit onto the winning side while the refund covers the rest, so both outcomes finish ahead.
Risk free offers are also the one case where long odds work in your favour. The bigger the odds, the more likely the refund is triggered, and the more of the offer's value you keep. Odds around 4.0 or higher with a close back-to-lay match are ideal.
If the refund does arrive as a free bet, convert it using the free bet mode on our matched betting calculator, the same way you would any other free bet.
Say a bookmaker offers your money back as a free bet up to £10 if your first bet loses. You back at odds of 4.0 and lay at 4.2 with 2% exchange commission. Valuing the £10 free bet refund at £7, the calculator returns:
Around £4.70 locked in whichever way the bet settles. Placed as a normal qualifying bet without the refund, the same odds would leave you roughly 60p down, which is why it pays to run these offers through the right calculator.
These two get mixed up constantly, and using the wrong one costs money:
Most risk free offers are a two-step process: use this calculator for the first bet, then, if it loses and the refund arrives as a free bet, switch to the standard calculator in free bet mode to convert it.
Looking for accumulators and system bets instead? Visit our bet calculator hub for acca, Yankee, Lucky 15, and other multi-line bet structures.
If you are new to this, start with the basics:
With a free bet you are holding promotional credit and betting with it. With a risk free bet your own money is on the bet, and the bookmaker refunds you only if it loses. They need different maths, which is why this calculator has its own mode.
The refund only pays out when your back bet loses, so the losing side needs less cover. The calculator underlays, leaving more profit on the winning side and letting the refund make up the difference on a loss.
Enter around 70% of the free bet's face value, since that is roughly what a free bet converts to in cash. A £20 free bet refund is worth about £14, so enter 14 in the cashback field.
The name comes from the bookmaker's promotion, not from betting blind. On its own the offer still leaves you exposed at the bookmaker. It is the matched lay bet at the exchange, sized by this calculator, that locks in a result whichever way the bet settles.
Any promotion where a losing bet is refunded: money back sign-up offers, "money back if your horse finishes second" specials, refund-if-placed racing offers, and acca insurance style promotions on a single leg.
High odds. The refund triggers when your bet loses, and long shots lose more often, so more of the offer's value is kept. Look for odds of around 4.0 or higher with a small gap between the back and lay price.
Yes. The lay bet at an exchange is what turns the refund into a locked-in profit. If laying is new to you, our lay betting guide explains how exchanges and liability work before you start.