Free Bet Calculator | Maximize Profit With Our Free Bet Conversion Tool

Hedging free bets is one of the only ways to guarantee yourself profit. This form of arbitrage betting will always result in you making money as long as you wager the correct amount on the other side of the market that you placed your free bet on.

In order to use this sports betting strategy, you need to place two bets: (1) the free bet on one side of a two-way market (such as a spread, total, or moneyline bet), (2) a cash wager on the other side of the same market.

While you won't win as much as you would if your bonus bet wins outright, you will always win some money with this strategy.

Using the top section of our Free Bet Calculator will show you how much to wager to maximize your guaranteed profit. You can use the bottom section to see how much you would win if you wager a different dollar amount than the top section suggests. In the second case, you could win more or less depending on the result of your free bet and the other wager.

This strategy is also called free bet conversion. This strategy is also called free bet conversion. After placing a qualifying bet, you can convert some percent of your bonus credit into guaranteed winnings by betting the other side with another sportsbook. Typically, a free bet conversion of 70% or more is considered good. The tool above can also be used as a free bet conversion calculator or risk-free bet calculator.

Strategies for Placing & Hedging Free Bets

• Always place the free bet on the side with longer odds and look for a favorable hedge line on the other side of the market.
  • For example, you're better off placing a $100 free play on +225 odds and hedging it against a sharp hedge line like -280 (guaranteeing a dollar profit of $59.21) than placing the $100 free bet on -280 odds and hedging with $10.99 on the +225 side (only guaranteeing $24.73).
  • The reason for this is that with a free bet, you don't get your initial stake back, only the profit; whereas with the hedge bet, you do. Using the same example above, your max potential winnings from the free bet risked on the longer odds is $225. The max real dollars obtained from the free play on the shorter odds is only $35.71.
  • The higher the potential winnings from the bonus wager, the more you have to hedge against.
• Choosing big underdogs for your free bet is usually the best move.
  • The reasoning for this is very similar to the reasoning above. You want the max potential payout from your free bet so you have more to hedge against. Just make sure they meet the minimum odds required to qualify for a payout.
  • We say usually because it still comes down to the odds. The closer the odds between the underdog and the favorite are, the better. For example, it's better to have a free bet on +500 odds if the other side is -700 than if the hedge odds are -900. There are instances when placing your free bet on a huge underdog won't produce the most profit if the odds on the favorite are very unfavorable relative to the underdog.
  • If you're not sure which market offers the best odds for your bonus bet, use our free play calculator to compare profits based on current odds.