Bonus bet converter
Turn a bonus bet into locked-in cash by hedging the other side at another book.
Result
- Hedge stake (cash)
- $116.67
- Profit either way
- $33.33
- Conversion
- 67%
If the bonus bet wins you collect its winnings and lose the hedge; if the hedge wins you get the hedge back plus its winnings. Either way you keep the profit above.
Pro fills in the fair price from the sharp market for every bet at your books, and finds the best places to use a boost tonight. See Pro
Get this math on every promo at your books
Parity Odds Pro prices every bet, prop, and promo against the fair price, every few minutes. A research tool, not a sportsbook.
How it works
A bonus bet (free bet) pays only the winnings; you never get the stake back. That's why longer odds convert better: a $50 bonus bet at -110 wins about $45, at +300 it wins $150.
Hedging means placing the bonus bet on one side at one book and cash on the other side at another book, sized so you make the same profit whichever side wins.
Conversion is the locked profit as a share of the bonus bet's face value. Around 70% is typical when you can find long odds with a tight hedge.
More detail: Does matched betting work in the US?, Should you use a bonus bet on a parlay?, What's a good bonus bet conversion rate?, How to use a bonus bet (and why long odds convert better).