Free Bet Conversion Calculator

Turn a free (bonus) bet into guaranteed cash — enter the free bet, the odds you’ll use it on, and the hedge price to see your locked profit and conversion rate.

Worked example

A $100 free bet used on +300 (decimal 4.00) wins $300 profit if it lands. Hedge the other side at −320 (decimal 1.3125) with cash: hedge stake = (100 × 3) ÷ 1.3125 = $228.57. If the free bet wins you net 300 − 228.57 = $71.43; if it loses, the hedge pays 228.57 × 0.3125 = $71.43. Either way you’ve converted the $100 bonus into $71.43 cash — a 71.4% conversion.

How it works

hedge_stake = free_bet × (free_decimal − 1) / hedge_decimal
guaranteed  = hedge_stake × (hedge_decimal − 1)
conversion  = guaranteed / free_bet

FAQ

How is a free bet different from cash?

With most free (bonus) bets the stake is NOT returned — you keep only the winnings. So a $100 free bet at +200 pays $200 profit if it wins, not $300. That’s why its cash value is less than its face amount.

How do you convert a free bet to cash?

Place the free bet on a longshot, then bet the other outcome with real cash (hedge) so you lock a guaranteed amount whether the free bet wins or loses. The result is a fixed percentage of the free bet’s face value.

What conversion rate should I expect?

Typically 70–80%. The higher the odds you use the free bet on (and the tighter/ lower-vig the hedge), the higher the conversion — a $100 free bet usually nets $70–$80 in guaranteed cash.

Why bet the free bet on high odds?

Because the stake isn’t returned, you extract more of its value at longer odds. On a fair market the conversion approaches (1 − 1/odds), so longer prices convert more.

Is converting free bets allowed?

It’s standard bonus-hunting, but sportsbooks’ terms vary — some restrict hedging or void bonuses. Check the offer’s terms; this is educational only.

Where do I place the hedge?

On the opposite outcome, ideally at a low-vig book or exchange for the best conversion. Use our No-Vig and Odds Converter tools to compare hedge prices.

Educational tool only. Check each promotion’s terms — some books restrict hedging or bonus conversion.