Free Bet & Bonus Calculator

Use this calculator to find out how much of a free bet or deposit bonus you can convert into real cash — and exactly how to do it.

Sportsbooks offer free bets and deposit bonuses to attract new customers, but the actual cash value of these offers is rarely the face value. This calculator tells you the real value of any offer and shows you step by step how to lock in a guaranteed profit.

How to use the calculator

Free bet mode

A free bet is a token from a sportsbook that lets you place a bet without risking your own money. The catch is that if the bet wins, you only receive the profit — your stake is not returned. This calculator helps you convert that token into guaranteed real cash by hedging.

1. Enter your free bet amount
   Type the value of the free bet token you received from the sportsbook. For example, if you received a $50 free bet, enter 50.
2. Enter the odds of your free bet
   Enter the decimal odds of the selection you want to place your free bet on. The higher the odds, the more profit you stand to make if it wins — but you will need a larger hedge bet on the other side.
3. Enter the hedge odds
   Enter the decimal odds of the opposite outcome — this is the bet you will place with your own money to cover the other side. Together, these two bets guarantee you a profit no matter which side wins.
4. Read your results
   The calculator shows your hedge stake, guaranteed profit, conversion rate, and a side-by-side breakdown of what you make in each outcome.

Example: You have a $50 free bet. You place it on a team at 3.00 decimal odds. You hedge by betting on the other side at 2.00. The calculator tells you exactly how much to place on the hedge so that you lock in the same profit whether your free bet wins or the hedge wins.

Deposit bonus mode

A deposit bonus is real cash added to your account by a sportsbook, usually as a percentage of your first deposit. The catch is that it comes with a rollover requirement — you must wager the bonus a set number of times before you can withdraw it.

1. Enter your bonus amount
   Type the value of the bonus credited to your account. For example, if the sportsbook gave you a $100 bonus, enter 100.
2. Enter the rollover requirement
   This is the number of times you must wager the bonus before withdrawing. A 5x rollover on a $100 bonus means you need to place $500 worth of bets in total before the funds are released.
3. Enter the odds you plan to bet at
   Enter the decimal odds of the bets you will use to clear the rollover. Betting at odds closer to 2.00 is the most efficient way to clear a bonus with the least risk.
4. Read your results
   The calculator shows the total amount you need to wager, the expected value of the bonus after the house edge, and whether the offer is worth taking.

Understanding the results

Free bet results

• Hedge stake — The exact amount you need to bet on the opposite side to guarantee a profit from your free bet token.
• Guaranteed profit — The fixed amount you will make regardless of which outcome wins. This is your free bet converted into real cash.
• Conversion rate — The percentage of the free bet’s face value you are keeping as profit. A higher conversion rate means you are getting more real cash out of the offer.

Deposit bonus results

• Total to wager — The total amount of bets you need to place to satisfy the rollover requirement and unlock your bonus for withdrawal.
• Expected value — The estimated real cash value of the bonus after factoring in the house edge over the course of your required wagers.
• Worth it? — A simple verdict on whether the bonus is worth pursuing based on the rollover requirement and the odds you plan to bet at.

What is matched betting?

Matched betting is the strategy behind converting free bets into guaranteed cash. It works by placing two bets on opposite outcomes of the same event — one using the free bet, and one with your own money on the other side. Because you have covered both outcomes, you remove the risk and lock in a profit regardless of the result.

This is not gambling in the traditional sense. The profit is mathematically guaranteed as long as the bets are placed correctly. The calculator does all the math for you — just enter your numbers and follow the hedge stake it recommends.

Key tip: For free bets, placing them at higher decimal odds (3.00 and above) generally gives you a better conversion rate, meaning more of the face value ends up as real cash in your pocket.