Free Bet Arbitrage Calculator
What this calculator does: Calculates the arbitrage bet to maximize guaranteed profits of a free bet. A free bet is a wager where the original stakes are not returned. For example, a free bet of $100 at -110 would return a total of $90.91 in cash (as opposed to $190.91 in cash if making a cash wager).
How to use this calculator: Plug in the value of the free bet, the odds on the free bet, and the odds on the hedge bet. Numbers should be 100 or higher or -100 or lower, must use American odds..
How to interpret results: The calculator will tell you how much you should wager as the hedge bet. It will show your guaranteed profits and the percentage of profit from the original free bet.
bet. Numbers should be 100 or higher or -100 or lower, must use American odds..
Major Points: You shouldn't use a free bet like a normal cash bet, because the free bet is forfeited one the bet is placed. Using this calculator will show you the expected gain from wagering the free bet, and then arbitraging the opposing side at another sportsbook. Play around with the calculator and you'll see that you will typically have a greater percentage of profits on free bets placed with higher odds (larger underdogs). While larger underdogs will give you higher percentage returns, will require more cash. Using free bets on favorites will decrease your return.