Matched BetsSNR vs SR free bets: what's the difference?
Short answer
With a stake not returned (SNR) free bet, a win pays only the winnings. With a stake returned (SR) free bet, a win also pays back the free bet stake. Most UK bookmaker free bets are SNR. SNR free bets need a smaller lay and are worth less, and they keep more value at higher odds.
What the bookmaker pays
Take a £10 free bet at odds of 3.0 that wins:
| Free bet type | Bookmaker pays | Why |
|---|---|---|
| SNR (stake not returned) | £20 | Winnings only: £10 × (3.0 − 1) |
| SR (stake returned) | £30 | Winnings plus the £10 stake: £10 × 3.0 |
If the bet loses, you lose nothing in either case — it was the bookmaker's stake.
How the lay stake changes
You lay to hedge what the bookmaker would pay, so an SNR free bet needs a smaller lay:
With £10 at 3.0, lay odds of 3.1 and 2% commission, that is £6.49 for SNR and £9.74 for SR. For the full set of formulas see how to calculate a lay stake.
How much you keep at different odds
Guaranteed result from a £10 free bet with 2% commission and a typical gap between back and lay odds:
| Back / lay odds | SNR lay | SNR keeps | SR lay | SR keeps | SNR liability |
|---|---|---|---|---|---|
| 2.0 / 2.04 | £4.95 | £4.85 | £9.90 | £9.70 | £5.15 |
| 3.0 / 3.1 | £6.49 | £6.36 | £9.74 | £9.55 | £13.63 |
| 4.0 / 4.15 | £7.26 | £7.11 | £9.69 | £9.48 | £22.87 |
| 6.0 / 6.2 | £8.09 | £7.93 | £9.71 | £9.51 | £42.07 |
| 10.0 / 10.5 | £8.59 | £8.39 | £9.54 | £9.35 | £81.61 |
"Keeps" is the lower of the two outcomes. Calculated with the Matched Bets engine; your figures depend on the exact odds and commission.
Which odds should you use?
- SNR free bets keep more value at higher odds, because the lost stake matters less as the winnings grow. Many matched bettors aim for odds of around 4.0 to 8.0, where 70–80% retention is common.
- Watch the liability. Higher odds need much more in your exchange account: £81.61 at 10.0 versus £13.63 at 3.0 in the table above.
- Keep the gap small. A wide difference between back and lay odds costs more than the odds level gains you.
- SR free bets are worth close to face value at almost any odds, so lower odds with a tight gap and lower liability are usually fine.
- Check the terms for minimum odds, eligible markets and expiry.
Recording free bets properly
A free bet isn't cash until you've used it and the result has settled. In Matched Bets, unused free-bet awards stay as drafts and never count towards profit; once you use one and settle the result, only the cash you actually made appears in your totals.
Try both types in the free calculator — switch between Free bet SNR and Free bet SR to see the difference on your own numbers.