Free/Bonus Bet Calculator
Turn free or bonus bets into cash using hedging strategies
The free or bonus bet conversion calculator helps you maximize the value of promotional bets. Since free bets do not return the original stake amount when they win, the goal is to extract as much guaranteed value as possible rather than leaving the result to variance. This calculator determines the optimal hedge size to minimize risk while locking in the highest achievable profit.
It is ideal for turning sportsbook bonuses into real cash instead of placing the bonus on a single outcome and hoping it wins. By inputting your bonus amount, bonus odds, and hedge odds, you can instantly see the precise hedge stake required and your guaranteed conversion rate. This allows you to compare different markets and choose the most efficient pricing available.
For example, if you receive a $100 free bet and place it at +500 odds, then hedge the opposite side at an appropriate negative price, you can often convert the bonus into approximately $75 or more in guaranteed profit depending on the available lines. Small improvements in hedge pricing can meaningfully increase your long term returns.
For best results, aim for bonus bet odds of at least +500, with the hedge side having a similar magnitude in the negative range. As a general rule of thumb, strong conversions are typically above a 75% conversion rate, though higher is always better.
Consistently optimizing bonus conversions can significantly improve overall profitability, especially when stacking multiple promotional offers, leveraging sign up incentives, and timing promotions strategically across sportsbooks.