How much is a free bet worth?

Free bets do not have the same value as cash, because the sportsbook isn't risking any money for you, they are just covering your stake. In other words, if you win a $50 free bet at -110 odds, you do not get the $50 you risked plus the $45.45 in winnings credited to your account.

oddsjam.com - What is Free Bet Conversion? How to Maximize your Free Bets - OddsJam

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Make Your Bookie Cry And Pull The Hair By Generating $23,187

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How does Free Bet Conversion Work:

Overall, to maximize expected value on your free bets, we’ve established you should be placing them on longer odds of +500 or more. However there is another less risky strategy called free bet conversion, where you hedge your free bets to convert them into cash, albeit at a smaller rate of return. Because you do not get your stake back with free bets, only the winnings, it is best to always place your free bet on the heavy underdog and your hedge bet on the favorite. This is because if the hedge bet wins, you will also be returned your stake and the loss would only be your free bet. To maximize the return on a free bet hedge, head to the Free Bet Conversion Tool on OddsJam. There you’ll see opportunities to sort by conversion percentage. This is the percentage at which you will convert your free bet into cash, typically at 75% or more. In the top right corner, click the filters button next to the refresh button and filter by the sportsbook where you have earned the free bet to see all the relevant opportunities. Once those two filters are applied, you’ll see a table of hedging opportunities to maximize a guaranteed profit from the free bet. Typically, you should always aim for the conversion percentage to be above 70%, which means that you’ll be able to hedge a $100 free bet into $70 in no matter the outcome of the event. Sometimes there are opportunities as high as 80% or even greater, but those can often require a huge bankroll on another book since the hedge odds might be something like -1200. To see exactly how much you should risk on the hedge line, hit the calculator icon and it will tell you what the stake should be.

Free Bet Conversion Example:

Let’s take a look at an example, filtered assuming the free bet is on DraftKings:

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Can bonus be paid in cash more than 10000?

As per section 40A(3), if the business expenditures are made in cash and the amount exceeds Rs 10,000 then it will be disallowed for income tax purposes.

tax2win.in - Section 40A(3): Disallowance of Expenses made in Cash & Exceptions

then such expenditure will not be allowed as a deduction under section 40A(3) of the income tax act. This means it will not be considered as a business expense and will be added back to the income. Further, it will result in a higher payment of taxes. However, Rule 6DD prescribes certain cases and circumstances where the above mentioned expenditures will be allowed as deduction even if payment is made in Cash. In the case of a transporter (i.e. if the payments are made for hiring or leasing carriages for goods such as lorries, trucks etc), the limit has been fixed to Rs. 35,000 instead of Rs. 10,000/-.

What are the various modes of payment allowed u/s 40A(3)?

Even if the amount of expenditure exceeds Rs 10,000 ( or Rs 35,000) no disallowance will be done if such payment has been made via

An account payee cheque or

Demand draft or

Use of ECS or

Other prescribed electronic modes

In nutshell, payments made in cash or through bearer cheque can be disallowed only. M/s ABC makes following payments in cash or through bearer cheque for the purchase of goods from M/s XYZ on 5th May

Rs 8,000

Rs 6,000

Rs 4,000

In this case the total amount paid in a day to one person exceeds Rs 10,000 and the payment has been made through a bearer cheque or cash. This expenditure will be disallowed under section 40A(3) of the income tax act and no deduction for such payment will be allowed to M/s ABC.

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