Freebet Calculator
Calculate the optimal way to convert your freebets into cash
How it works:
• Use your $50.00 freebet on odds 2.5 (2.50 decimal)
• Bet $28.85 on opposite outcome at odds 2.6 (2.60 decimal)
• Guaranteed profit: $46.15 regardless of outcome!
Note: Freebet is SNR (Stake Not Returned) - only winnings are returned.
Less work, more wins
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How Freebet Conversion Works
Freebets are promotional credits from bookmakers. Convert them to cash by placing bets on opposite outcomes at different bookmakers to guarantee a profit.
Get Your Freebet
Receive a freebet from a bookmaker promotion. Most freebets are SNR (Stake Not Returned) meaning only winnings are returned
Find Matching Odds
Find close odds between two different bookmakers to minimize loss and maximize conversion rate
Calculate & Place Bets
Use the calculator to determine optimal stakes and place bets on opposite outcomes to lock in guaranteed profit
What is a Freebet Calculator
Freebets look like free money until you realize most of them return zero profit. A freebet calculator shows you exactly how to extract maximum value from these promotions without leaving money on the table.
Freebets come in two types: Stake Not Returned (SNR) and Stake Returned (SR). SNR freebets are more common—when you win, you only get the profit, not your original stake back. SR freebets return both profit and stake, making them more valuable. The difference matters because it completely changes your conversion strategy. Our calculator handles both types and tells you the optimal way to turn promotional credit into withdrawable cash.
The math behind freebet conversion is simple: place your freebet on one outcome, then hedge with real money on the opposite outcome at a different bookmaker or betting exchange. The goal isn't to win big on one side—it's to guarantee you walk away with profit regardless of the result. Enter your freebet amount, the odds at both bookmakers, and whether it's SNR or SR. The calculator instantly shows your hedge stake and expected profit. Most bettors convert freebets at 60-70% efficiency, but with the right odds, you can hit 70-80%.
Timing matters with freebets because they usually expire within 7-30 days, and odds change constantly. Don't wait until the last minute to convert them. Higher odds generally mean better conversion rates, but they're harder to hedge effectively. The sweet spot is usually odds between 3.0-5.0 (decimal) where you balance conversion rate with hedge availability. Use exchanges like Betfair when possible because their lay betting option gives you more control over your hedge position.
This calculator works for single freebets, but matched betting gets more profitable when you're churning through multiple promotions simultaneously. BetSmarter's premium tools track freebet offers across dozens of bookmakers, calculate optimal conversion strategies in real-time, and alert you to high-value opportunities before they expire. Stop manually hunting for freebet promos and let the software do the work.
Frequently Asked Questions
A freebet is a promotional credit from a bookmaker that lets you place a bet without risking your own money. If you win, you receive the profit (and sometimes the stake, depending on the type). Freebets are typically offered as welcome bonuses, loyalty rewards, or promotional offers. They usually come with terms like expiration dates, minimum odds requirements, and restrictions on which markets you can bet on.
Convert a freebet by placing it on one outcome at high odds, then hedging with real money on the opposite outcome at another bookmaker or exchange. The calculator determines your hedge stake to guarantee profit regardless of which side wins. For SNR freebets, aim for conversion rates of 60-70%. For SR freebets, you can often achieve 70-80% conversion. Higher odds improve conversion rates but make hedging more expensive.
SNR (Stake Not Returned) means you only receive the profit when you win, not the freebet stake itself. SR (Stake Returned) gives you both profit and stake back. For example, a 10€ SNR freebet on 3.0 odds returns 20€ if it wins (30€ total - 10€ stake). The same SR freebet would return 30€. SR freebets are more valuable and achieve higher conversion rates, but they're less common in promotions.