Many sportsbooks offer free play bonuses when you sign up or deposit with them. The Free Play calculator will help you calculate the value you are receiving when accepting such a bonus.
To use the calculator, add the amount you received for the free play, and the odds of each team.
Freeplay Size: The freeplay notional size in dollars
Freeplay Line: The line at which the freeplay is bet (US or decimal)
Hedge Line: The line at which the freeplay is hedged
Hedge Bet: The dollar amount wagered on the hedge to extract risk-free value
$ Profit: The risk-free profit in real dollars obtained from the freeplay bet and hedge
% Profit: Dollar profit as percent of freeplay notional size.
If a sportsbook offered you a a $200 freeplay which you bet at +200 and that you hedge -215, You’d enter $200 into the “Freeplay Size” box, +200 into the “Freeplay Line” box, and -215 into the field labeled “Hedge Line.
After clicking “Calculate”, you can see that the proper amount for the hedge wager would amount to $273.02 and your guaranteed profit would be $126.98. This results in your capturing 63.49% of the notional ($200) value of the freeplay.