Free Play Value Calculator
Calculate the risk-free real dollar profit that can be obtained from betting and hedging a free play bonus of any size.
Free Play Configuration
$
Odds for your free play bet
Odds for your hedge bet (opposite side)
Free Play Type
Most sportsbook free plays are "bet credits"
Conversion Results
Strategy Analysis
Free Play Type Impact
Bet Credit: Yes (Current)
Winnings only, no stake returned
Free Bet: No
Full payout including stake
Free Play Value Calculator
A comprehensive tool for extracting maximum real dollar profit from sportsbook free play bonuses through optimal hedging strategies. Calculate risk-free profits and conversion rates for any free play amount.
What is a Free Play?
A free play (also called bet credit or bonus bet) is a promotional tool used by sportsbooks to attract new customers. Unlike cash, free plays have specific terms and conditions that affect their real-world value.
Types of Free Plays
Bet Credit (Most Common)
- Payout: Winnings only, stake not returned
- Example: $100 bet credit at +150 pays $150 (not $250)
- Typical Sportsbooks: Most major operators
Free Bet (Less Common)
- Payout: Full return including stake
- Example: $100 free bet at +150 pays $250
- Typical Sportsbooks: Some promotional offers
How Free Play Conversion Works
The Hedging Strategy
- Place Free Play: Use bonus on one side of a market
- Place Cash Hedge: Bet opposite side with real money
- Guarantee Profit: Ensure positive outcome regardless of result
- Extract Value: Convert bonus into withdrawable cash
Mathematical Foundation
Free Play Win Amount = Stake × (Decimal Odds - 1) [for bet credits]
Free Play Win Amount = Stake × Decimal Odds [for free bets]
Optimal Hedge Size = Free Play Win Amount ÷ Hedge Decimal Odds
Guaranteed Profit = Min(Free Play Win - Hedge Stake, Hedge Win - Hedge Stake)
Features
Conversion Analysis
- Guaranteed Profit: Risk-free cash profit calculation
- Conversion Rate: Percentage of free play value extracted
- Optimal Hedge Size: Exact cash bet amount needed
- ROI Analysis: Return on cash investment
Strategy Optimization
- Perfect Hedge: Calculate exact bet sizes for guaranteed profit
- Multiple Scenarios: Compare different hedge odds
- Alternative Strategies: Explore various conversion approaches
- Risk Assessment: Analyze cash requirements vs profit potential
Flexible Configuration
- Free Play Types: Support for bet credits and free bets
- Odds Formats: American (-110) or Decimal (1.91)
- Constraint Settings: Minimum/maximum odds limitations
- Precision Control: Adjustable decimal places
Calculation Methods
Bet Credit Conversion (Standard)
Free Play: $100 at +150 odds
Win Amount: $150 (winnings only)
Hedge: Opposite side at -110
Hedge Size: $150 ÷ 1.909 = $78.57
Hedge Win: $78.57 × 0.909 = $71.43
Scenario 1 (Free Play Wins): $150 - $78.57 = $71.43 profit
Scenario 2 (Free Play Loses): $71.43 - $78.57 = -$7.14 + $78.57 = $71.43 profit
Free Bet Conversion (Full Return)
Free Play: $100 at +150 odds
Win Amount: $250 (stake + winnings)
Hedge: Opposite side at -110
Hedge Size: $250 ÷ 1.909 = $130.95
Hedge Win: $130.95 × 0.909 = $119.05
Guaranteed Profit: Higher due to stake return
Conversion Rate Formula
Conversion Rate = (Guaranteed Profit ÷ Free Play Amount) × 100%
Typical Ranges:
- Short Odds (-200): 25-40% conversion
- Standard Odds (-110): 45-55% conversion
- Long Odds (+200): 65-75% conversion
Usage Guide
Setting Up a Conversion
Enter Free Play Details:
- Amount of the free play
- Odds you plan to bet
- Type (bet credit vs free bet)
Find Hedge Odds:
- Locate opposite side at different sportsbook
- Enter the best available hedge odds
- Calculator determines optimal bet size
Execute Strategy:
- Place free play at original sportsbook
- Place calculated hedge bet with cash
- Collect guaranteed profit regardless of outcome
Interpreting Results
Key Metrics
- Guaranteed Profit: Risk-free cash amount you'll receive
- Conversion Rate: Efficiency of the conversion (higher is better)
- Hedge Bet Size: Cash investment required
- ROI on Cash: Return percentage on your cash investment
Strategy Comparison
- Alternative Options: Review different hedge odds scenarios
- Ranking System: Strategies ordered by guaranteed profit
- Efficiency Ratings: Color-coded performance indicators
Optimization Strategies
Maximizing Conversion Rate
Optimal Odds Selection
For Free Plays:
- Longer odds generally better: +200 vs -110 yields higher conversion
- Avoid extremely short odds: -500 provides minimal conversion
- Sweet spot: +100 to +300 range for balance
For Hedges:
- Shop for best lines: Small differences impact profit significantly
- Avoid high vig markets: Stick to main lines when possible
- Consider reduced juice books: 5% improvement in hedge odds
Market Selection
Best Markets:
- Point Spreads: Typically lowest vig, easy to find opposite
- Moneylines: Good for long odds free plays
- Totals: Alternative when sides unavailable
Avoid:
- Props: Higher vig reduces conversion efficiency
- Futures: Limited hedging opportunities
- Live Betting: Odds move too quickly
Timing Considerations
Line Movement
- Place free play first: Secure your primary odds
- Hedge immediately: Avoid line movement risk
- Use alerts: Monitor for optimal hedge opportunities
Market Hours
- Peak times: Better odds availability during main events
- Off hours: Limited markets but less competition
- Weekend premium: Higher handle, tighter lines
Advanced Techniques
Multi-Book Strategy
- Account Setup: Maintain accounts at multiple sportsbooks
- Line Shopping: Compare hedge options across books
- Bonus Stacking: Combine multiple promotions efficiently
- Bank Management: Coordinate cash flow between books
Arbitrage Integration
- Natural Arbs: Sometimes free play conversion creates arbitrage
- Enhanced Returns: Stack with existing arbitrage opportunities
- Risk Mitigation: Use arb principles for hedge sizing
Volume Approach
- Multiple Free Plays: Process several simultaneously
- Systematic Approach: Standardize conversion process
- Record Keeping: Track conversion rates and profits
- Reinvestment: Use profits for additional opportunities
Risk Management
Common Pitfalls
Calculation Errors
- Stake Return Confusion: Verify bet credit vs free bet type
- Odds Format Mistakes: Double-check American vs decimal
- Rounding Errors: Use precise calculations for large amounts
Execution Risks
- Line Movement: Odds change between calculation and placement
- Bet Limits: Insufficient limits for required hedge size
- Account Restrictions: Limitations on betting options
Terms & Conditions
- Playthrough Requirements: Some free plays have rollover terms
- Eligible Markets: Restrictions on qualifying bet types
- Expiration Dates: Time limits on bonus usage
- Minimum Odds: Requirements for odds thresholds
Bankroll Considerations
- Cash Requirements: Ensure sufficient funds for hedge bets
- Risk Tolerance: Never bet more than you can afford to lose
- Profit Goals: Set realistic expectations for conversion rates
- Long-term Approach: Focus on consistent, sustainable profits
Expected Outcomes
Typical Conversion Rates
| Free Play Odds | Expected Conversion Rate |
|---|---|
| -300 to -200 | 25% - 35% |
| -199 to -120 | 35% - 45% |
| -119 to +110 | 45% - 55% |
| +111 to +200 | 55% - 70% |
| +201 to +400 | 70% - 80% |
Profit Examples
$100 Free Play Scenarios:
- Conservative (-150 odds): ~$30 guaranteed profit
- Standard (-110 odds): ~$45 guaranteed profit
- Aggressive (+150 odds): ~$60 guaranteed profit
Legal and Ethical Considerations
Terms of Service
- Read carefully: Understand all bonus terms
- Comply fully: Avoid actions that violate terms
- Document everything: Keep records of all transactions
Responsible Gambling
- Set limits: Never chase losses or over-leverage
- Use bonuses wisely: Don't deposit more than planned
- Seek help if needed: Resources available for problem gambling
This calculator provides the mathematical foundation for safe, profitable free play conversion while helping you understand the mechanics and optimize your approach to bonus betting.