Overview

A free bet or bonus bet usually returns winnings without refunding the stake. The calculator estimates conversion value and hedge sizing so you can compare options before using a token.

The Formula

Cash Value = FreeBetStake × (DecimalOdds - 1) × HedgeEfficiency

Hedge efficiency depends on the opposing price, fees, limits, and whether both markets can actually be used.

When To Use It

Use it for bonus bets, second-chance credits, and similar offers. Treat the output as a model to verify, not a promise that the same return is available.

Worked Example

A $100 free bet at +250 with an opposing hedge can model roughly three-quarters of face value in some cases. The actual result depends on available odds, operator rules, limits, and execution.

Common Mistakes

• Using profit-only tokens on heavy favorites.
• Forgetting the free-bet stake is not returned.
• Using correlated outcomes instead of mutually exclusive ones.
• Ignoring posted limits on the hedge book.