Free Bet Converter
Don't gamble with your bonuses. Use the mathematical principles of Matched Betting to convert your free bets into guaranteed, withdrawable cash.
Free Bet Converter
Monetize Your Bonuses
Tip: Use higher odds here (e.g. +300 or higher) for better conversion.
Need better lines? To get 80%+ conversion, you need high odds (e.g. +400). EdgeSlip scans for these specific pairings automatically.
Find High Conversion BetsOptimization StrategyOKAY CONVERSION
Target: 70%+
What is this tool?
The Free Bet Converter (also known as a Matched Betting Calculator) allows you to extract cash value from sportsbook promotions. Unlike a regular bet where you get your stake back if you win, Free Bets are 'Stake Not Returned' (SNR). This calculator determines the exact amount of cash you should bet on the opposite outcome (the hedge) to ensure you make the same profit regardless of which team wins.
How to use it
First, select a 'Back Bet' on your sportsbook using your free bet credit—ideally on an underdog with high odds (e.g. +400). Next, find a 'Hedge' opportunity on another book or exchange for the opposing outcome. Enter the odds into the calculator. It will tell you exactly how much cash to wager on the hedge to lock in your profit.
Optimization Cheat Sheet
| Back Odds (Free Bet) | Hedge Odds (Cash) | Cash Conversion % |
|---|---|---|
| +100 (2.0) | -110 (1.91) | 47.6% |
| +200 (3.0) | -220 (1.45) | 64.5% |
| +300 (4.0) | -330 (1.30) | 73.2% |
| +400 (5.0) | -450 (1.22) | 78.4% |
| +800 (9.0) | -900 (1.11) | 88.1% |
*Assumes standard -110 lines for hedge. Higher odds = Higher cash retention.
The Golden Rule: Bet Long Odds
The most common mistake bettors make with Free Bets is wasting them on "safe" favorites (e.g. -200 odds). Mathematically, this burns value because the stake is not returned.
Betting a Favorite (-200)
You use a $100 Free Bet on a heavy favorite.
- Win Payout: $50
- Stake Returned: $0 (SNR)
- Total Value: $50 (50%)
Betting a Longshot (+400)
You use a $100 Free Bet on a big underdog.
- Win Payout: $400
- Hedge Cost: -$320
- Total Value: $80 (80%)
What is SNR?
SNR stands for "Stake Not Returned". It is the standard term for most modern sportsbook bonuses.
If you bet $100 of your own cash at +100 odds and win, you get $200 total ($100 profit + $100 stake back). If you bet a $100 Free Bet at +100 odds and win, you only get $100 total ($100 profit). The $100 free bet token disappears. This "missing stake" is why the conversion rate drops dramatically at lower odds.
Step-by-Step Conversion Guide
- 1
Acquire the Bonus
Sign up for a sportsbook promo (e.g. "Bet $5, Get $150"). Ensure the free bet credit is visible in your account balance.
- 2
Find the Line
Look for a market where the underdog has high odds (e.g. +350) and the favorite on another book has similar negative odds (e.g. -350 or -360).
- 3
Calculate Hedge
Enter your Free Bet amount and the exact odds into the calculator above. It will determine the precise cash hedge required.
- 4
Place the Bets
Place the Free Bet on the Positive (+) odds. Immediately place the cash Hedge on the Negative (-) odds at the other sportsbook.
Frequently Asked Questions
What conversion percentage should I aim for?▼
Is this risk-free?▼
Can I use this for Risk-Free Bets (SR)?▼
Why does the calculator tell me to bet $0?▼
Do sportsbooks ban you for this?▼
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