Bonus bet converter
A bonus bet pays only the winnings, never the stake. Bet it at long odds and hedge the other side with cash at another book, and you lock most of its face value as cash whoever wins.
How the conversion works
hedge stake = bonus × (bonus odds − 1) / hedge decimal odds
Because the bonus pays only winnings, longer odds keep more of its value. A bonus at -200 keeps far less than one at +300.
Worked example: $100 bonus at +300
Bet the $100 bonus at +300 (decimal 4.00); it can win $300. The other side is -360 (decimal 1.278) at another book.
Hedge stake = $300 / 1.278 = $234.78 cash. If the bonus wins: $300 − $234.78 = $65.22. If the hedge wins: $234.78 × 0.278 = $65.22. You've turned a $100 bonus into $65.22 cash, a 65% conversion.
Getting a better conversion
- Pick long odds, around +250 to +500, where the two sides' prices are close to fair.
- Hedge at the best price anywhere you have an account. One point of price is worth a few percent of conversion.
- Use the same currency. A C$ bonus hedged in US$ doesn't lock a result.
- Check the terms: minimum odds, expiry and whether the bonus can be split.
Converge's promo converter searches every book for the best bet-and-hedge pair. More in how to convert bonus bets to cash.
Questions
How do you convert a bonus bet to cash?
Bet the bonus at long odds and bet cash on the other side at another book. Size the hedge as the bonus's possible winnings divided by the hedge's decimal odds, and both outcomes pay the same.
What is a good bonus bet conversion rate?
Around 65% to 75% of the bonus's face value is typical with good prices. Under 50% usually means the odds are too short or the hedge price is poor.
Why bet a bonus bet at long odds?
A bonus bet doesn't return its stake, so a short-odds bet wins little. Longer odds put more of the value in the winnings, which is the part you keep.
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Updated 2026-10-26