Welcome Bonus Expected Value Calculator
Type in your qualifying-bet odds. The calculator computes the expected dollar value of each VT welcome offer (DraftKings $200 instant, FanDuel $350 in Bonus Bets at $50/day for 7 days, Fanatics up to 1,000 FanCash match) so you can compare apples to apples.
Welcome Offer EV Calculator
EV calculations assume: bonus bets cash convert at ~73% of face value (typical for bonus bets used on ~+100 markets); ~4.55% house edge on $5 qualifying bet; ~4.55% expected loss on Fanatics' daily wagers (up to 100 FanCash/day). Fanatics pays in FanCash (redeemable for bonus bets at ~73% or Fanatics merch near face value); the ~73% conversion is applied here for a like-for-like comparison. Bonus bet conversion varies with your usage — long-shot bonus bets convert at higher rates, short-favorite usage at lower. FanDuel's figure is the per-day value under its 7-day offer ($50 in Bonus Bets per day); the seven-day total maxes at up to $350 if you earn the full amount every day.
FanDuel: New customers only. Get $350 in Bonus Bets when you wager $5 for 7 days ($50 in Bonus Bets per day). Sign up, verify your account, and deposit at least $5, then place a single online real-money wager of $5+ between 3AM ET and 11:59 PM ET on each of 7 consecutive days. The 7-day period begins on your first eligible wager once you opt in. Max bonus $50 per day. Bonus issued as non-withdrawable Bonus Bets that expire 7 days after receipt. Restrictions apply. See terms at sportsbook.fanduel.com. 21+ and present in VT. Gambling Problem? Call 1-800-GAMBLER.
How the Numbers Work
DraftKings (instant)
EV = $200 in bonus bets × ~73% conversion – $5 × 4.55% house edge ≈ $145.77. The qualifying bet's win/loss doesn't affect the bonus — it triggers either way.
FanDuel ($50/day for 7 days)
FanDuel now runs a Get $350 in Bonus Bets ($50/day for 7 days) offer — $50 in Bonus Bets per day across seven consecutive days, up to $350 total. The figure above is the per-day value: $50 × ~73% bonus-bet conversion – $5 × 4.55% house edge ≈ $36.27 in realizable value per day. Bet on all seven days and the maximum realizable value is up to roughly seven times that; miss a day and you miss that day's reward.
Fanatics (FanCash daily match)
Fanatics matches 100% of your daily wager in FanCash, up to 100 FanCash/day for 10 days — up to 1,000 FanCash. If you'll wager $100/day anyway: EV = $1,000 × 73% – $0 incremental cost = $730.00.
If you wouldn't wager daily: EV = $1,000 × 73% – $1,000 × 4.55% house edge = $684.50. Even paying the full house-edge cost of $1,000 in wagers, Fanatics still has the highest EV — but you have to commit 10 days of activity to claim it. FanCash is redeemable for bonus bets (~73%) or Fanatics merch (near face value).