Bonus Bet Calculator

A bonus bet (free bet) is a token the sportsbook gives you: bet it, and if it wins you keep the winnings — but not the token itself. Because the stake isn't returned, a $100 bonus bet is not worth $100 in cash. The trick to converting it is a hedge: play the token on one side of a game at plus odds, then bet real money on the other side at a different book, so you collect roughly the same amount whichever team wins.

Enter the bonus amount and both prices below. The calculator solves the hedge stake that equalizes your profit, shows what you make in every outcome, and reports your conversion rate — the share of the bonus's face value you locked in as cash. Longer odds on the token side generally convert better. There's a toggle for the rare variant where the stake is returned too.