Betting maths guide
Stake Returned vs Stake Not Returned
Stake returned and stake not returned are two important betting terms that affect how free bets, bonuses and returns are calculated.
What does stake returned mean?
Stake returned means your original stake is included in the payout when the bet wins. This is how normal cash bets usually work.
For example, if you place £10 at decimal odds of 5.00 and the bet wins, the total return is £50. That includes £40 profit plus the original £10 stake.
Total return = stake × decimal odds
£10 × 5.00 = £50
What does stake not returned mean?
Stake not returned means the stake is not included in the payout. Only the profit part is paid if the bet wins.
This is common with bookmaker free bets. If you use a £10 stake-not-returned free bet at odds of 5.00, the payout is usually £40 profit rather than £50 total return.
Stake-not-returned payout = stake × (decimal odds − 1)
£10 × (5.00 − 1) = £40
Stake returned vs stake not returned example
| Bet type | Stake | Odds | Profit part | Stake included? | Total paid |
|---|---|---|---|---|---|
| Stake returned | £10 | 5.00 | £40 | Yes | £50 |
| Stake not returned | £10 | 5.00 | £40 | No | £40 |
The difference is the returned stake. In this example, stake returned pays £10 more than stake not returned.
Why stake not returned matters for free bets
Many free bets are stake not returned. That means the headline value of the free bet is not the same as cash.
A £50 stake-not-returned free bet at odds of 6.00 pays £250 if it wins, not £300. The free bet stake is removed from the payout.
| Free bet value | Odds | Cash-style return | Stake-not-returned payout |
|---|---|---|---|
| £50 | 6.00 | £300 | £250 |
How it affects back/lay calculations
Back/lay calculations depend on whether the back bet behaves like a normal cash bet or a stake-not-returned free bet.
| Calculation type | Lay stake formula |
|---|---|
| Stake returned / normal cash bet | Stake × back odds ÷ (lay odds − commission) |
| Stake not returned free bet | Stake × (back odds − 1) ÷ (lay odds − commission) |
The difference is important because stake-not-returned free bets only pay the profit part if they win.
Stake returned, stake not returned and matched betting
In matched betting, a common offer is a stake-not-returned free bet. That means the free bet calculation is different from the qualifying bet calculation.
The qualifying bet is usually a normal cash bet where the stake is returned if it wins. The free bet is often stake not returned, so only the profit part is paid.
| Matched betting stage | Common stake type | Why it matters |
|---|---|---|
| Qualifying bet | Stake returned | Usually behaves like a normal cash bet. |
| Free bet | Often stake not returned | Needs a different lay stake formula. |
How to spot the difference in bookmaker terms
Bookmakers may use slightly different wording. Look for phrases like these:
| Wording | Likely meaning |
|---|---|
| “Stake not returned” | The free bet stake is not included in winnings. |
| “Free bet stake not included in returns” | Only the profit part is paid. |
| “Returns exclude free bet stake” | The stake is not returned. |
| “Paid as bonus funds” | Winnings or stake may have extra restrictions. |
| “Stake returned” | The stake is included in the payout. |
If the terms are unclear, do not assume. The difference can change the calculation significantly.
Common mistakes
Treating a free bet like cash
A free bet usually has restrictions and may not return the stake. It should not automatically be valued like cash.
Using the wrong lay stake formula
A stake-not-returned free bet needs a different calculation from a normal cash bet.
Ignoring commission
Exchange commission affects the final result and should be included in back/lay calculations.
Only reading the headline offer
The headline may say “£50 free bet”, but the actual terms decide how valuable that offer is.
Missing expiry dates and restrictions
Free bets often expire and may be limited to certain markets or odds.
Stake returned vs stake not returned FAQs
Is stake not returned worse than stake returned?
Usually yes, because the stake is not included in the payout. But it can still have value if used carefully.
Are most free bets stake not returned?
Many bookmaker free bets are stake not returned, but terms vary. Always check the offer wording.
Does decimal odds include stake returned?
Normal decimal odds show total return including stake for cash bets. Free bets may work differently depending on the terms.
Why does this matter for matched betting?
Because the lay stake calculation changes depending on whether the free bet stake is returned.
Which calculator should I use?
Use the Free Bet Calculator for stake-not-returned and stake-returned comparisons. Use the Matched Betting Calculator for a full qualifying bet plus free bet example.