Direct answer
A conceded next stroke completes the hole with that stroke included in the score. If the recorded hole score is one under par, it is a birdie for scoring purposes. A whole-hole concession is different and may not establish a stroke score. A betting market can also specify how concessions are treated, so use its rule rather than assuming every concession is a birdie.
What to check
Find a named offered market and how conceded holes or putts appear in its governing result.
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