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Calculate optimal hedge strategies for risk-free bet promotions with customizable profit distribution.
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Convert Risk-Free Bets (first bet insurance) into guaranteed profit by placing your risk-free wager on one side and a hedge bet on the opposite side. Wager Sharp's Risk-Free Bet Calculator is built to quickly help you estimate your hedge size, profit outcomes, and effective conversion rate based on the promo structure.
What makes risk-free bets different from bonus bets is how the refund works. Most books reimburse losses as a bonus bet, free bet, or site credit rather than cash, so the true value depends on the terms. This calculator helps you model that value clearly before you place bets.
Let's say you have a $1,000 risk-free bet on +500, with a hedge at -500. If your initial bet loses, the sportsbook will refund you with a bonus bet rather than cash. That refund has a conversion value, not a 1:1 cash value.
This tool helps you estimate what your risk-free offer is really worth by showing your results if the initial bet wins and your results if the initial bet loses and the refund is issued.
Your conversion percentage is the share of the promo's face value you can reasonably turn into cash after hedging and accounting for the refund type. In general, a 70% conversion or higher is the goal. If you are consistently below that, it usually means the odds pairing is inefficient, the hedge line is too expensive, or the refund type is less favorable.
Use the calculator to test different odds and hedge lines until you find a setup that improves your conversion rate.
A risk-free bet is still a wager. You are choosing how much of your edge comes from upside if the initial bet wins versus protection if it loses and triggers a refund. By adjusting your hedge size, you can shape your outcomes and find the balance that fits your risk preference.
You may want more profit on one side of the bet for a variety of reasons. Use the calculator to compare different odds and hedge lines so you can maximize your expected value and keep outcomes easy to understand.
Adjusting your hedge size can also help you land on clean, common wager amounts. Many bettors prefer this over unusually specific stakes because it can look more natural and be easier to manage.
Use the inputs to experiment with hedge sizing until you find a result that matches your preference, then round to a comfortable stake amount before placing your wagers.
Enter your risk-free bet details to calculate optimal hedge strategy
Adjust the bias slider to control profit distribution between outcomes