Bonus bet converter: turn a bonus bet into cash
A bonus bet (free bet) pays only the winnings, never the stake, so it is worth less than cash. The converter works out how much to bet with your own money on the opposite outcome to lock in part of the bonus whatever happens: enter the bonus amount, its odds and the odds on the other side, and read the stake and the cash you keep. A conversion rate of 70% or more is good.
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How to use the calculator
- 1
Enter the bonus bet
The bonus amount and the odds you place it at. Longer odds usually convert better.
- 2
Enter the hedge odds
The odds on the opposite outcome at another sportsbook.
- 3
Place the hedge shown
Bet the stake shown with your money: the profit is the same whoever wins.
Worked example
A $100 bonus bet on the Dolphins at +300 (4.00). The Jets are -275 (1.3636) at another book. The converter stakes $220.00 on the Jets: if the Dolphins win you get $300 of winnings minus $220, $80; if the Jets win you get back $300 on the hedge, again $80. The $100 bonus bet became $80 of cash, an 80% conversion.
Related calculators
- Second chance bet calculator The hedge for a second chance bet, with the refund counted at its cash value.
- Site credit calculator The hedge that turns site credit into cash, and the share you keep.
- Playthrough calculator How much to wager to unlock a bonus, and what it is really worth.
- Hedge calculator The hedge stake that locks in a profit or your stake back.
Frequently asked questions
What is a bonus bet?
A bet paid with the sportsbook's money: if it wins you get the winnings, but not the stake. That is why a $100 bonus bet is worth less than $100 in cash.
What odds should I use for a bonus bet?
Longer odds, typically +300 or more, because the stake is lost either way and only the winnings count. The calculator shows the conversion for any price.
What is a good bonus bet conversion?
70-80% is a good result. Above 80% usually needs long odds and a tight price on the other side; below 60% the hedge is too expensive.
Is converting a bonus bet legal?
Yes, it is just two bets at two licensed sportsbooks. Read each sportsbook's terms, and keep in mind that a hedge requires your own money.
Can I use a prediction market for the hedge?
Yes: buy the contract on the opposite outcome and enter its price, converted to odds with the odds converter, as the hedge odds.
By the NinjaBet Editorial Team Updated on October 28, 2026
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