Sportsbook Promo Value Calculator

Where the fair price comes from

Every promo is worth whatever it pays above the bet's true chance. The best estimate of that chance is a no-vig price: take both sides' odds, turn them into percentages and scale them to add up to 100% (the no-vig calculator shows the steps). A sharp book's line, like Pinnacle's, is the strongest version of this.

Profit boost

A 25% profit boost multiplies the winnings, not the stake. +200 pays $2 profit per $1, so boosted it pays $2.50, which is +250. Value = fair chance × boosted profit − chance it loses × stake. Above the max stake the extra money gets normal odds.

Bonus bet (free bet)

You don't get the stake back, only the profit. So a $25 bonus bet is worth fair chance × $25 × (decimal odds − 1). At −110 with a 50% fair chance that's 0.50 × 25 × 0.909 = $11.36, about 45% of face value. At +400 with an 18.2% fair chance (fair +450) it's 0.182 × 25 × 4 = $18.18, about 73%. Longer odds lose less of the bet to the book's margin, which is why +300 to +500 usually converts best. Go much longer and the margin on long shots tends to grow again, and you'll mostly lose the bet.

No-sweat or second-chance bet

If the bet loses, you get a bonus bet back. Value = fair chance × profit − chance it loses × stake + chance it loses × refund × conversion rate. The conversion rate is what you can turn the bonus bet into, about 70% if you play it at +300 to +500.

Odds boost

The book moves the price from X to Y. The edge is fair chance × Y's decimal odds − 1, per $1 bet. Many odds boosts are on parlays or long shots where the original price had a big margin, so a boost can look large and still be worth little or nothing.

21+ only. Promos have terms (minimum odds, expiry, state limits); read them before you bet. Gambling problem? Call 1-800-GAMBLER.