Free Bet Conversion Calculator

Cash out of a bonus—

Give the face value and both prices and this becomes the guaranteed cash the promo converts to.

Free bet face valueFree-bet odds

Hedge odds (other side, cash)

Stake not returned — a free bet pays winnings only, never the stake back. That is why long odds on the free leg convert more of the face value.

Outcomes

Free bet hitswins $125.00, hedge loses

+$32.89

Hedge hitshedge $92.11 returns, free bet dies

+$32.89

Show the math

winnings = F(d − 1)$50.00 × 2.5000 = $125.00

hedge = F(d − 1)/d_H · guaranteed = F(d − 1)(d_H − 1)/d_Hguaranteed = $32.89

For a live scan of tonight’s highest-retention conversion at your book, use the Promo Scanner.

Send this calculation

Your numbers travel in the link — whoever opens it sees this exact calculation.

KeyboardUp and down arrows step any price — 5 cents on an American number, a hundredth on a decimal. Enter moves to the next field. Slash jumps back to the first one from anywhere on the page.

What this will not claimStake not returned — a free bet pays winnings only. The retention figure assumes you can get the hedge down at the price shown, at a second book, before either number moves.

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How much is a free bet worth?

A free bet is worth roughly 65-75% of its face value when converted properly, because it pays winnings only — the stake is never returned — and conversion means betting it at long odds and hedging the other side for cash.

How it works & common questions

Longer odds on the free-bet leg retain more because the lost-stake penalty shrinks relative to the winnings — the outcome bars show the lock closing from both sides.

How it works

Enter the face value and free-bet odds. The bonus amount and the long-odds selection you will place it on.
Enter the hedge odds. The other side's price at a second book, bet with cash.
Read the guaranteed cash. The conversion locks the same amount whichever side wins — that is the bonus's real value.

Why not just bet a free bet on a favorite?

Because the stake is not returned, a free bet on a heavy favorite risks the entire face value to win a small amount — a $50 bonus at −200 returns only $25 in winnings. Long odds plus a cash hedge on the other side converts far more of the face value into guaranteed money.

Learn more: Promo Scanner (live conversions)

Dynatyze Betting is analytics and education for people 21 and over. It is not a sportsbook: no wager is ever placed on Dynatyze — the tools help you find and price the best available bet elsewhere. If gambling stops being fun, help is free and confidential at 1-800-GAMBLER.

Free Bet Conversion Calculator

Cash out of a bonus—

Give the face value and both prices and this becomes the guaranteed cash the promo converts to.

Free bet face valueFree-bet odds

Hedge odds (other side, cash)

Stake not returned — a free bet pays winnings only, never the stake back. That is why long odds on the free leg convert more of the face value.

Outcomes

Free bet hitswins $125.00, hedge loses

+$32.89

Hedge hitshedge $92.11 returns, free bet dies

+$32.89

Show the math

winnings = F(d − 1)$50.00 × 2.5000 = $125.00

hedge = F(d − 1)/d_H · guaranteed = F(d − 1)(d_H − 1)/d_Hguaranteed = $32.89

For a live scan of tonight’s highest-retention conversion at your book, use the Promo Scanner.

Send this calculation

Your numbers travel in the link — whoever opens it sees this exact calculation.

KeyboardUp and down arrows step any price — 5 cents on an American number, a hundredth on a decimal. Enter moves to the next field. Slash jumps back to the first one from anywhere on the page.

What this will not claimStake not returned — a free bet pays winnings only. The retention figure assumes you can get the hedge down at the price shown, at a second book, before either number moves.

Related calculators

How much is a free bet worth?

How it works & common questions

Longer odds on the free-bet leg retain more because the lost-stake penalty shrinks relative to the winnings — the outcome bars show the lock closing from both sides.

How it works

Enter the face value and free-bet odds. The bonus amount and the long-odds selection you will place it on.
Enter the hedge odds. The other side's price at a second book, bet with cash.
Read the guaranteed cash. The conversion locks the same amount whichever side wins — that is the bonus's real value.

Why not just bet a free bet on a favorite?

Learn more: Promo Scanner (live conversions)