As far as i know, there is no free blu-ray player software for the windows platform now. But i can recommend you some other cheap or free Blu-ray tools for you.
First,if you need a full functional(fully supporting Blu-ray features like Blu-ray menu, 3D, BD-live, etc.) Blu-ray software, you can choose the Arcsoft Total Media Theatre, and the PowerDVD from the Cyberlink. The only pity is that they may a bit expensive, especially you have to pay for the updates.
Second, there are also some simple cheap Blu-ray player software like Aurora Blu-ray Media Player which can read and playback the main movie of a blu-ray disc directly. But some of the Blu-ray features Blu-ray menu, 3D playback are not available now. You can get the lifetime version with $39.95 now.
Third, the free tools, 1. the 2.0 version of VLC, you must download the aacs or bd+ libraries, which may let you play some old Blu-ray disc; 2. MakeMKV, the beta version is free for 30 days and allows you to rip blu-ray to MKV without any quality loss. 3. Aurora Blu-ray Copy, which is free now, can only rip Blu-ray to ISO image now.
Refers to: http://blog.bluray-player-software.com/best-blu-ray-software-blu-ray-player-blu-ray-ripper-blu-ray-copy/