Free bets and bonus tokens usually pay you the winnings only — the stake itself is not returned. That makes their real value lower than the face amount, and it depends heavily on the odds you use them at. This calculator shows your actual payout and what percentage of the token you convert to withdrawable cash.
How free bet value works
With a normal bet, winning returns your stake plus profit. With a stake-not-returned free bet, you keep only the profit — so a $50 token at even money is worth just $50 in winnings, not $100.
This means the odds you use a free bet at change its value. At low odds you convert little of the face value; at higher odds you convert more, but with a lower chance of the bet landing at all. The "conversion" figure shows realised winnings as a percentage of the token’s face value.
The calculator supports both the common stake-not-returned tokens and the rarer stake-returned kind, so you can see exactly what a promotion is worth before you use it.
Worked example
You get a $50 free bet and place it at decimal odds of 2.00 (even money), stake not returned.
Payout = $50 × (2.00 − 1) = $50. Because the stake is not returned, the token converts to $50 of real cash — 100% of its face value.
Use the same token at higher odds and both the payout and the conversion percentage rise, though the bet is less likely to win. That trade-off is the whole game with free-bet strategy.