Free tool
Bonus bet & free bet value calculator
A bonus bet pays profit only, not the stake, so its real value is less than its face number. Enter the amount and the two prices you'll use to convert it, and see the guaranteed cash you can lock in.
Bonus bet value
face value of the token
usually a longshot, e.g. +300
short side at any book
Conversion rate 83% of face value
On the other side to lock it in
Profit if the free bet wins, $0 if it loses
Placing the free bet on a longer price (+300 or more) and hedging the short side usually converts around 70% of face value.
Why a free bet isn't worth its face value
A regular bet returns your stake plus the profit; a free bet returns the profit only. So a $50 free bet at even money pays $50, not $100. Its real worth depends on the odds you use it at and whether you convert it to guaranteed cash or simply let it ride.
How to convert it to cash
Place the free bet on a longer price, then hedge the other side at a sportsbook with real money. The calculator sizes that hedge so you keep the same amount whichever way the game lands. Using a longer price for the free bet (around +300 or more) and hedging the short side typically converts about 70% of face value into cash.
Frequently asked
How much is a free bet worth?
Roughly 70% of its face value when converted well. The exact figure depends on the odds: place the free bet on a longshot, hedge the short side at another book, and you lock guaranteed cash. The calculator shows the precise conversion value and the hedge stake for the two prices you enter.
Should I hedge a free bet or let it ride?
Hedging gives you a smaller, guaranteed amount; letting it ride gives you a bigger payout but only if it wins. Over many bonuses, converting to guaranteed cash is the steadier play, but a single free bet on a longshot you like is a reasonable gamble for the larger upside.
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