MargusTool
Free bet converter
Turn a sportsbook bonus bet or bet-back promo into cash by hedging the other side at another book. Work out the hedge by hand, or let Margus rank every bet on the board right now.
Your promo
What are you converting?
A bonus bet doesn't return its stake, so long odds convert best. The hedge is sized so you keep the same cash whichever side wins.
On the board now
Best bets for a DraftKings bonus bet
Pregame lines for games in the next three days, fresh prices only. Soccer is left out: a three-way market needs two hedges.
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By hand
Hedge calculator
$233.33
Cash on the other side at the hedge odds.
$66.67
Net cash after both bets settle.
$66.67
Net cash after both bets settle.
Frequently asked questions
How do you convert a free bet into cash?
Place the bonus bet on one side of a game at the promo book and hedge the other side with cash at another book. Size the hedge so both outcomes pay the same: that amount is the cash the bonus converted to. Longer odds on the bonus side usually keep more of it.
What is a good free bet conversion rate?
Roughly 65–80% of the bonus amount on long-odds bets in the main US markets. Short odds keep much less, because a bonus bet never returns its stake.
Why does the hedge price matter so much?
The hedge is a real cash bet, so its margin comes straight out of what you keep. That is why the converter searches every book on the board for the best price on the other side. Prediction-market prices are counted after their taker fee.
Is promo hedging allowed?
Check each book's terms. Promos often have minimum odds, eligible markets and expiry dates, and books can limit accounts. Margus does not take bets; confirm every price on both books before betting.