VigFree Analytics | Bonus Bet Optimizer

How to Optimize Bonus Bets with Hedging

Bonus bets (also called free bets or free plays) are promotional offers from sportsbooks that let you place a bet without risking your own money. However, they typically don't return your stake on a win, only the profit. For example, a $100 bonus bet at +200 returns $200 in winnings, not $300 like a cash bet would. Because of this "stake not returned" structure, bonus bets are worth less than their face value, typically 70-80% depending on the odds you use them at.

The most effective way to extract value from bonus bets is through hedging. This involves placing the bonus bet on one outcome and a cash hedge bet on the opposite outcome. By carefully sizing your hedge bet, you can guarantee a profit regardless of which side wins. The optimal strategy involves finding longer odds for your bonus bet (underdogs or plus money) and shorter odds for your hedge, minimizing the conversion cost. A $100 bonus bet can typically be converted to $70-80 guaranteed cash profit.

This calculator determines the optimal hedge bet size to maximize your guaranteed profit from a bonus bet. Enter your bonus bet amount, the odds for your free play bet, and the odds available for hedging the opposite side. The calculator shows you exactly how much to bet on the hedge and what your total profit will be regardless of the outcome. Use it for welcome bonuses, risk-free bet promos, or any free play offers to extract maximum value.