Promo Qualifier & Second-Chance Bet Calculator
Many promotions ask you to place a qualifying bet and pay a reward in return, either whether it wins or loses ('bet $100, get $100 in bonus bets') or only if it loses (a second-chance bet). This calculator sizes a bet on the other side so the result is about the same either way, counting the reward at the value you give it, and shows the result if the reward were worth nothing.
Qualifying with a $100 bet and a $93 hedge gives a calculated result of +$67.65 counting the reward at 70% of face value, and -$2.35 in cash if the reward turned out worthless.
- Bet on the other sideat +105
- $93
- If your qualifying bet winsincludes the reward
- +$67.91
- If the other side winsincludes the reward
- +$67.65
- Reward value counted70% of $100, paid win or lose
- $70.00
- If the reward were worth nothingthe cash result on its own
- -$2.35
Calculated at the odds you entered. Prices move and bets can be voided, so confirm both prices before placing either bet. HedgeMath doesn't place bets.
How the math works
The reward has a value: reward amount × the percentage it's worth to you. If it's paid on both outcomes it adds the same to each; if it's paid only when your bet loses, it adds to that outcome only.
The calculator sizes the hedge H so the two outcomes are equal after counting the reward: H = (S × (dA − 1) + S + reward on a win − reward on a loss) ÷ dB, where S is your qualifying bet.
The 'reward worth nothing' line shows the cash result on its own, which is the number to look at before you decide the promotion is worth qualifying for.
Worked example
Load this example into the calculator →- Qualifying bet (your cash)
- $100
- Odds on the qualifying bet
- -110
- Odds on the other side, at another book
- +105
- Reward amount
- $100
- What the reward is worth to you (%)
- 70%
- The reward is paid
- Win or lose
- Round stakes down to
- Whole dollar
Qualifying with a $100 bet and a $93 hedge gives a calculated result of +$67.65 counting the reward at 70% of face value, and -$2.35 in cash if the reward turned out worthless.
Calculated with the same engine as the calculator above. Last updated 2026-09-30.
What changes the result
- Qualifying costs vig
- Betting both sides costs the sportsbooks' margin on each. Closer prices on the two sides cost less.
- Value the reward honestly
- Bonus bets convert at less than face value. Use the bonus bet calculator to see the rate for a specific bonus.
- Second-chance bets pay on losses only
- The reward is worth the same but shows up on one outcome, which changes the hedge size.
- Read the terms
- Minimum odds, expiry and which markets qualify vary by promotion.
Frequently asked questions
What is a qualifying bet?
A qualifying bet is the wager a promotion requires before it pays a reward, for example 'bet $100 and get $100 in bonus bets'.
What is a second-chance bet?
A second-chance bet refunds a losing bet in bonus bets. Choose 'Only if my bet loses' for it, and set the reward to the amount that would be refunded.
What should I enter for what the reward is worth?
Cash rewards are worth 100%. Bonus bets and site credit are worth less because you keep only the winnings. Around 70% is a common working figure; use the bonus bet calculator to check a specific bonus.
Is the result locked in?
The calculator shows the result at the odds you enter. Odds move and bets can be voided. The reward's value depends on the odds you use it at later. Confirm prices before placing bets.
Does HedgeMath place the bets?
No. You place every bet yourself.
Skip the searching.
Pro finds the lowest-cost qualifying pair at your books, so you don't have to scan markets for the cheapest hedge.