Bonus Bet Converter: How Much Cash Your Bonus Bet Is Worth
Odds type
$
| Bonus bet pays if it wins | $600.00 |
| Cash to bet on the other side | $466.67 |
| Cash you keep either way | $133.33 |
| Conversion rate | 66.7% |
If the bonus bet wins, you collect $600.00 and lose the $466.67 hedge. If the other side wins, the hedge returns $600.00 and the bonus costs you nothing. Either way you are $133.33 up.
What it does
This bonus bet converter works out how much cash a bonus bet is worth. You bet the bonus on one side at the book that gave it and bet the other side with cash at another book, sized so you make the same amount whichever side wins. Step by step: how to convert a bonus bet to cash.
A bet the book pays for. If it wins you get the winnings only; the stake does not come back.
The cash you keep as a share of the bonus. About 60% to 70% is typical on long odds.
How to use
Enter the bonus bet amount.
Enter the price you will bet the bonus at, at the book that gave it. Long odds, about +250 to +400, keep the most.
Enter the best price on the other side of the same market at another book.
Bet the cash amount shown on the other side, right after the bonus bet, before either price moves.
Worked example
A $200 bonus bet at +300, other side at -350
- Bonus winnings
- $200 x 3.00 = $600
- Hedge decimal odds
- -350 = 1.2857
- Cash hedge
- $600 / 1.2857 = $466.67
- Cash kept either way
- $600 - $466.67 = $133.33
- Conversion rate
- $133.33 / $200 = 66.7%
FAQ
I got a $200 bonus bet. How do I convert it to cash?
Bet it on a long shot at the book that gave it and bet the other side with cash at another book, sized so both results pay the same. A $200 bonus at +300 against -350 needs $466.67 of cash and keeps $133.33 whichever side wins: 66.7% of the bonus.
How do I convert a bonus bet and lose as little as possible?
Put the bonus on odds of about +250 to +400 and take the best price on the other side at any book you have. The less the two prices hold together, the more of the bonus you keep.
What is the hedge formula for a bonus bet?
Hedge stake = bonus x (bonus decimal odds - 1) / hedge decimal odds. A bonus bet pays only its winnings, so the hedge is sized to the winnings, not to the winnings plus the stake.
What is a good bonus bet conversion rate?
About 60% to 70% on odds of +250 to +400. Over 70% is a strong pair. On a -110 coin flip you keep only about 43%, because the stake does not come back.
Can I hedge at the same sportsbook?
You can, but two prices from one book carry its whole margin. The other side is usually priced better somewhere else, and that is where most of the extra cash comes from.