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Stake Returned vs Stake Not Returned Free Bets
A plain-English guide to SNR vs SR free-bet wording, with a calculator example and the checks to make before using a free bet.
Written by Charlie Marsh, founder and editor of Matched Betting Trading. Last reviewed 15 May 2026.
Free-bet wording is one of the first places beginners get caught. The phrases stake returned and stake not returned sound small, but they change how the reward is valued, which calculator mode makes sense, and what you should record afterward.
In matched betting, stake not returned means the free-bet stake is not included in the winning return. It is often shortened to SNR. Stake returned means the stake can be included in the winning return, subject to the current offer rules.
That wording changes the maths. A GBP10 free bet at odds of 5.00 is not automatically worth the same under both terms. If the stake is not returned, the winning part is treated differently from a normal cash stake, so the calculator mode must match the wording.
SNR: the free-bet stake is not returned with the winnings.
SR: the free-bet stake may be included in the winning return.
Same headline amount, different calculator assumption.
Worked calculator example
Imagine an example GBP10 stake-not-returned free bet. The bookmaker odds are 4.00, the exchange lay odds are 4.20, and the exchange commission is 2%. In the MBT calculator, that belongs in the free bet SNR mode, not the qualifying-bet mode.
The practical workflow is to enter the free-bet value, bookmaker odds, exchange lay odds, and commission, then read both outcome rows before placing anything. If the terms say the stake is returned, switch mode and calculate again because the free-bet value is being treated differently.
Open the calculator after the reward wording is confirmed.
Use free bet SNR mode only when the terms say the stake is not returned.
Save or record the final result in Profit Tracker once the exchange side and bookmaker result are settled.
Why it changes the calculator
A matched betting calculator needs the correct scenario before it can produce useful lay stake, liability, and outcome numbers. If you put a stake-not-returned free bet into the wrong mode, the result can make the workflow look cleaner than it really is.
The right order is simple: read the reward wording first, choose the matching calculator mode second, enter the odds, stake, and commission third, then record what actually happened after settlement.
Check the free-bet type before entering numbers.
Use the stake-not-returned mode when the terms say the free-bet stake is not returned.
Refresh the calculation if the live terms, odds, liquidity, or commission change.
Where to find the wording
The wording usually appears in the promotion terms, free-bet rules, or offer detail page. Do not rely on the banner alone because banners often simplify the offer and leave the important mechanics lower down the page.
If the wording is unclear, pause. A confusing reward type is a good reason to use the terms guide or checkpoint before opening an account or placing the next bet.
Look for phrases such as stake returned, stake not returned, or free-bet stake not included.
Check expiry, minimum odds, and excluded markets at the same time.
If the live page differs from a review or old screenshot, trust the live page.
Free-bet wording checklist
Find the live reward wording before using the calculator.
Write down whether the reward is SNR or SR.
Choose the matching calculator mode.
Enter current bookmaker odds, exchange lay odds, and commission.
Check both outcome rows before placing anything.
Record the settled result in Profit Tracker so the free-bet outcome is not mixed with normal cash stakes.
Pause if the wording is unclear or the live page contradicts the guide.
Relevant next step
Once the free-bet wording is clear, use the calculator with the correct mode. After the result is settled, record it in Profit Tracker so the free-bet return, exchange side, and final outcome stay separate from normal cash stakes.
Return to the terms guide if the free-bet wording is buried or unclear.
Important note
This guide explains free-bet wording for education. It does not guarantee any result and does not replace current bookmaker terms, exchange liquidity checks, commission checks, or safer-play judgement.
18+ only.
Offers and terms can change.
Use the responsible-gambling page if the topic stops feeling controlled.
This guide explains free-bet wording for education. It does not guarantee any result and does not replace current bookmaker terms, exchange liquidity checks, commission checks, or safer-play judgement.
