FREE TOOL · BONUS CONVERSION
Free bet calculator
Enter one bonus bet and the prices on both sides to see how much cash to bet on the other side and what you keep either way. The result is an estimate, not a promised return or a tip to bet.
Free, no sign-up. Runs in your browser: nothing you type is saved or sent.
Formula and sources checked
The bonus stake is not returned. Assumes two opposite outcomes, both bets accepted at these odds and identical settlement rules. Amounts are rounded to cents; fees and qualifying costs are excluded.
Tools use the numbers you enter. They do not check live terms, eligibility, limits, account balances or whether a quote is still available. Legal betting age and eligible locations only. Bonus rewards are not cash. Terms apply; gambling involves risk of loss.
How does the free bet calculator work?
A bonus bet, often called a free bet, pays only its winnings: the stake never comes back. To turn one into cash, you place the bonus bet on one side of a two-way market and a cash bet on the other side at another sportsbook, sized so both results pay about the same.
With decimal odds, the cash bet is the bonus amount × (bonus odds − 1) ÷ other-side odds, rounded to the cent. If the bonus side wins, you keep its winnings minus that cash bet. If the other side wins, you keep the cash bet's profit. The lower of the two, divided by the bonus amount, is the share converted to cash.
Both outcomes assume the two bets are accepted in full at these prices and settle on the same result. Voids, pushes, limits, price moves and fees change what you keep, so recheck both prices right before you bet. How bonus bets work walks through a full example.
Frequently asked questions
Is a free bet the same as a bonus bet?
Yes. Most US sportsbooks now call them bonus bets. Either way the stake is not returned when the bet wins, which is why a bonus bet is worth less than the same amount of cash.
What odds should I use a bonus bet on?
Longer odds usually keep more of the value, because the stake is lost either way. In our worked example a $50 bonus bet keeps about 45% at even money and about 61% at +400, but the cash hedge grows from $27.32 to $169.49.
How do I turn American odds into decimal odds?
For positive odds, add 100 and divide by 100: +200 becomes 3.00. For negative odds, divide 100 by the number and add 1: −150 becomes about 1.67.
Does the result include the qualifying bet?
No. A cash bet you placed to earn the bonus is a separate cost. Count it on its own, or model the whole offer with the bonus value calculator.
Is the hedged result certain?
No. It is about the same either way only before voids, limits and fees. A rejected or partial bet, a price change or a push can leave one side uncovered.
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