Bonus bet conversion calculator
Turn a free bet (stake not returned) or a profit boost into locked cash by hedging the other side, and see the conversion rate.
Inputs
Result
updates as you typeRun this math on every line, automatically
The Low Hold screen lists the cheapest two-way markets across your books: the best place to convert a bonus.
How it works
A free bet that does not return its stake is worth less than cash, but you can lock part of it by betting the other side with real money:
winnings W = F × (d1 − 1) · hedge H = W ÷ d2
locked profit = W − H = F (d1 − 1)(1 − 1/d2) · conversion = profit ÷ F
Longer odds on the free bet usually convert better, because the stake you never get back matters less. For a profit boost, the boosted price is d′ = 1 + (d − 1)(1 + b), and an equal-profit hedge at d2 locks S × d′ × (1 − 1/d2) − S.
Worked example
A $50 free bet (stake not returned) at +400, hedged at −450 at another book:
Winnings if it hits: $50 × 4.0000 = $200.00
Hedge H = $200.00 ÷ 1.2222 = $163.64
Locked profit = $200.00 − $163.64 = $36.36 → conversion 72.7%
Longer odds convert more of the free bet. With a similar margin on each pair:
| Free bet odds | Conversion |
|---|---|
| +150 | 55.6% |
| +250 | 65.8% |
| +400 | 72.7% |
| +700 | 77.8% |
Things to watch
- Read the promo terms. Minimum odds, eligible markets and expiry differ by book.
- Use a low-hold pair. The tighter the combined market, the more you keep.
- Same event, same rules on both legs, or the hedge may not cover.