Why bonus bets pay less
A bonus bet (or free bet) returns only the winnings, not the stake. A $50 bonus bet at +100 pays $50, where a normal $50 bet would return $100.
Bonus bet calculator
Enter your bonus bet and the odds. See what a win pays (bonus bets keep only the winnings), what the bet is really worth and how to lock in a guaranteed amount with a hedge.
If it wins, you get$150.00
Expected value$37.50
Conversion rate75.0%
A bonus bet keeps only the winnings, not the stake, so longer odds keep more of its value. Most bettors aim to turn a bonus bet into 60% to 80% of its face value.
| Odds | Win pays | Expected value |
|---|---|---|
| -110 | $45.45 | $23.81 (48%) |
| +100 | $50.00 | $25.00 (50%) |
| +150 | $75.00 | $30.00 (60%) |
| +200 | $100.00 | $33.33 (67%) |
| +300 | $150.00 | $37.50 (75%) |
| +400 | $200.00 | $40.00 (80%) |
| +600 | $300.00 | $42.86 (86%) |
For information only. Results use the odds you enter and don't include any sportsbook rules or limits.
How it works
Bonus bet calculator: the basics
Use longer odds
Because the stake isn't returned, a bonus bet keeps more of its value at longer odds. At -110 it's worth about 48% of face value; at +300 about 75%.
Conversion rate
The conversion rate is how much of the bonus you turn into real money. Most bettors aim for 60% to 80%, by betting at plus odds or hedging the other side.
Hedging to lock in a profit
Bet the bonus on one side and real money on the other side at another sportsbook. Whatever happens you keep a set amount. Enter the hedge odds to see the stake.
Terms used here: Hedge · American odds · Expected value · Full glossary
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FAQ
Bonus bet calculator questions
How do I calculate a bonus bet payout?
Multiply the bonus amount by the decimal odds minus 1. A $50 bonus bet at +300 (4.00) pays $50 × 3 = $150. The $50 stake is not returned.
What odds should I use a bonus bet on?
Longer odds, usually +200 to +500, keep more of a bonus bet's value because only the winnings are paid. Short-priced favourites waste most of it.
What is a good bonus bet conversion rate?
70% or more is good. Hedging a bonus bet at around +300 with the other side at a different sportsbook usually locks in 65% to 80%.
Is a bonus bet the same as a free bet?
Mostly. Both are promotional bets where you keep the winnings but not the stake. Some sportsbooks also add rules like minimum odds or expiry dates.