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Free Bonus Bet Calculator

Enter your bonus bet amount and odds. The calculator shows the exact hedge stake to place on the other side — and the cash you lock in no matter which bet wins.

Bonus Bet Calculator

Calculate how to convert a bonus bet to guaranteed cash, or find the best EV usage.

Odds you'll place the bonus bet at

Odds on the opposite side for hedging

Your estimated probability of the bonus bet winning

Conversion via Hedge
Win Profit (if bonus wins)
$300.00
Guaranteed Cash
$142.86
Conversion Rate
142.9%
Hedge Stake
$157.14
Expected Value
EV
+$150.00
EV %
+150.0%
Conversion Rates at Common Odds
OddsWin ProfitHedge StakeGuaranteedRate
+200$200.00$104.76$95.2495.2%
+250$250.00$130.95$119.05119.0%
+300$300.00$157.14$142.86142.9%
+400$400.00$209.52$190.48190.5%
+500$500.00$261.90$238.10238.1%
+600$600.00$314.29$285.71285.7%
+800$800.00$419.05$380.95381.0%
+1000$1000.00$523.81$476.19476.2%

What is a bonus bet?

Sportsbooks hand out bonus bets constantly — as sign-up offers, refunds on no-sweat promotions, and loyalty rewards. A bonus bet works like a normal wager with one catch: if it wins, you keep the winnings but not the stake. A $100 bonus bet at +300 pays $300, not $400.

Because the stake is free, you can guarantee a cash return by placing a real-money hedge bet on the opposing outcome at a different sportsbook. Whichever side wins, you collect — the only question is how much, and that depends on getting the hedge stake exactly right. That is what this calculator does.

A worked example

$100 Bonus Bet · +300 / −360

Bonus bet

Underdog ML

+300 · Sportsbook A

Stake: $100 bonus bet

Hedge bet

Favorite ML

−360 · Sportsbook B

Stake: $234.78 cash

If the bonus bet wins

$65.22

If the hedge wins

$65.22

Either way you walk away with $65.22 in withdrawable cash — a 65% conversion of the bonus bet's face value, with zero risk of loss. Better hedge odds push the conversion rate higher.

Bonus bet questions

What is a bonus bet?
A bonus bet (also called a free bet) is a promotional credit issued by a sportsbook. You place it like a normal wager, but if it wins you receive only the winnings — the bonus stake itself is not returned. If it loses, you lose nothing of your own.
How much cash is a bonus bet worth?
Hedged efficiently, a bonus bet typically converts to 60–75% of its face value. A $100 bonus bet placed at +300 and hedged on the opposite side usually locks in around $65 in cash regardless of the outcome. The exact figure depends on the odds available when you place both bets.
What odds should I place a bonus bet at?
Longer odds convert better. Because the stake is not returned on a win, short favorites waste most of the bonus value. Odds between +200 and +400 usually offer the best balance of conversion rate and available hedge markets.
Do I get the stake back if my bonus bet wins?
No. Bonus bets pay winnings only. A $100 bonus bet at +300 pays $300 if it wins — not $400. This is why the calculator treats the stake as free money and optimizes only the profit across both outcomes.
Is hedging a bonus bet allowed?
Yes. Placing a real-money bet on the opposing outcome at a different sportsbook is legal and does not violate promotional terms — both wagers are ordinary bets with licensed operators. It is the standard way to convert promotional credits into withdrawable cash.

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