Bonus bet conversion calculator

A bonus bet conversion calculator works out how to turn a sportsbook bonus bet into cash by betting the opposite side with your own money. When a bonus bet pays only the winnings, not the stake, longer odds convert better. The hedge locks in a guaranteed profit worth a share of the bonus.

Bonus bet conversion calculator

Enter the bonus bet, the odds you'll use it at, and the odds on the other side at another sportsbook.

Odds format

Bonus bet amount

Bonus bet odds

Hedge odds (other side)

Is the bonus stake returned on a win?

Hedge with cash: $233.33; on the other side
Locked-in profit: $66.67; whichever side wins
Conversion rate: 66.7%; Profit ÷ bonus amount

Assumptions and limitations

Hedge stake = what the bonus bet returns on a win ÷ hedge decimal odds, which makes both outcomes pay the same.
Most bonus bets don't return the stake on a win, but terms differ. Check yours: expiry dates, minimum odds and eligible markets all matter.
Both bets must be on opposite sides of the same market with no draw or push outcome.
Nothing you enter is stored or sent anywhere.

How the bonus bet conversion calculator works

If the bonus bet of B at decimal odds d wins, it pays B × (d − 1) when the stake isn't returned. A cash hedge of H at decimal odds h on the other side pays H × (h − 1). Setting both outcomes equal gives:

Hedge stake = B × (d − 1) ÷ h, and profit = hedge stake × (h − 1).

Bonus bet	Hedge	Hedge stake on $100	Locked-in profit	Conversion
-110	-110	$47.62	$43.29	43.3%
+300	-350	$233.33	$66.67	66.7%
+500	-600	$428.57	$71.43	71.4%

Longer odds convert better, but they need a much bigger cash hedge, and both bets must stay open until the event settles.

Why longer odds convert better

In a market with no margin, a bonus bet at decimal odds d converts at (d − 1) ÷ d: 50% at even money, 75% at +300, 90% at +900. The lost stake matters less the longer the odds. Real markets have a margin on the hedge side, which lowers every figure in the table; compare hedge prices with the no-vig calculator before you commit.

Check the terms first

The calculator can't see your offer's terms. Check whether the stake is returned, the minimum odds, the expiry date and which markets qualify, because any of these can change the best approach.

Frequently asked questions

What is a good bonus bet conversion rate?

It depends on the odds and the hedge price. With no margin at all, converting at even money returns 50% of the bonus, at +300 75%, and at +900 90%. Real hedge prices include a margin, so actual rates are lower.

Why use long odds for a bonus bet?

If a winning bonus bet pays only the profit, the stake is lost either way. Long odds put more of the payout into profit, so less of the bonus's value is lost with the stake.

Do I have to hedge a bonus bet?

No. Hedging locks in a smaller guaranteed amount instead of an all-or-nothing result. At fair prices both have the same expected value; the hedge mostly removes the swing, at the cost of the hedge price's margin.

What if my bonus bet returns the stake?

Then it behaves like an ordinary bet funded by the sportsbook, and the calculator's stake-returned option sizes the hedge for that. Read your terms to see which applies.

Bonus bet conversion calculator: hedge a bonus into cash