Episode 1: What Is a Free Bet? UK Betting Basics Explained A free bet allows you to place a wager without risking your own money, but not all free bets are equal. In this episode, Mike Lovatt explains the two types of free bets (stake returned vs stake not returned), how they actually work, and the common mistakes that cost punters money. What You'll Learn What is a free bet and how does it work? Stake returned vs stake not returned — the critical difference How to qualify for free bet offers Free bet restrictions: minimum odds, expiry dates, and usage rules The real value of free bets (hint: it's not the face value) Common mistakes punters make with free bets Bookmakers Mentioned This episode references free bet offers from: bet365 bonus code -  Standard new customer offer analysed Betfred bonus code - Terms and conditions breakdown Key Takeaways ✓ Stake not returned free bets are worth approximately 50% of face value ✓ Always check minimum odds requirements on both qualifying bets and free bets ✓ Free bets typically expire within 7-30 days — don't leave them unused ✓ Use free bets at odds between 2.0 and 5.0 for optimal value ✓ Read the full terms before claiming any offer Related Resources For detailed bookmaker comparisons and free bet ratings: Complete Free Bets Guide - Compare all UK bookmaker free bet offers Best Betting Sites UK - Independent ratings and reviews World Cup Betting Sites - A look ahead at the 2026 World Cup and which sites are best to bet withAbout the Host Mike Lovatt is the owner of OnTheBallBets, a UK bookmaker comparison platform providing independent ratings and bonus analysis. Author of The OTBB Offer Value Score: Rating UK Bookmaker Welcome Bonuses LinksOnTheBallBets