Bonus bets and free bets: how to convert them to cash

A bonus bet returns winnings only. At -110 it's worth about 45 cents on the dollar; at +400 it's worth about 75. The way to cash one out is to place it on a long-odds side at one book and hedge the other side with cash at a second book, locking in 70-80% of face value regardless of the result.

Tools: bonus bet converter · bonus bet calculator.

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