Feel like I’m spamming this subreddit but haven’t really found calculators online for this so I decided to add it as a shortcut on iOS. It basically accounts for bets where you get your wager back only if it loses.
Basically only good for hedging risk free promos, such as now with FanDuel when you’re one leg away from winning a parlay that can get refunded if it loses. Or betting on underdog insurance with MGM.
It’ll help you with hedging but it also depends on how much you can convert your “free play” into actual winnings. I set the “Expected Percent” to 50% which is easily done but recommend you set it higher to what you usually convert it to.
if that was confusing I hope just looking at the table will help understand