What is a bonus bet? How do bonus bets work?

What is a bonus bet? is one of the popular promotions that sportsbooks offer to players. This is a gift in the form of a “token” or “bonus” that the bookmaker gives to players when participating in betting. However, not everyone clearly understands bonus bets and how to take advantage of them to maximize profits. This article Kingsoccertips.com will explain in detail about bonus bets that players need to know before playing!

What is a bonus bet?

A free bet is a sum of money offered by a sportsbook to players in the form of a “bonus” or “token” when placing a bet on their website. Typically, sportsbooks will require players to meet certain conditions before they can use or withdraw this bonus money.

It is important to note that free bets are not exclusive to new players. Bookmakers may offer bonuses to regular players through various promotions or special rewards, providing them with additional opportunities to bet without needing to risk too much of their own money. By signing up at multiple bookmakers, players can take advantage of different promotional programs.

How do bonus bets work?

In most cases, free bet funds are not available for direct withdrawal. Instead, when you receive a free bet from a bookmaker, you will use it to place bets on sports events or matches. If you win, you will only receive the profit from the bet, not the initial stake.

For example, if you receive a $25 free bet and place it on a match with odds of +100, your win would only include the $25 profit, not a total of $50 (including your stake).

An important point to remember is that the free bet stake itself cannot be withdrawn as cash. However, you can withdraw the profit from the bet once you meet the wagering requirements. Therefore, be sure to review the terms and restrictions of the bookmakers to avoid missing out on opportunities.

What happens if you lose a bonus bet?

If you lose your bonus bet, there may be a number of consequences depending on the terms and conditions of the betting platform you are using. Here are some of the things that can happen:

No bonus refund: In many cases, if you lose a bet using a bonus, the bonus amount will not be refunded. The bonus is only valid if you win the bet.

Unable to withdraw: Some platforms require you to meet certain wagering requirements (e.g. wagering x3 the bonus amount) before you can withdraw. If you lose a bet, you may not be eligible to withdraw funds from your account.

Ban on further bonuses: If you lose multiple bonus bets or violate the bookmaker’s rules, you may be banned from receiving future bonuses.

Increase your chances of winning by choosing online bookmaker with the highest odds.

How to use a bonus bet?

To make the most out of your free bet, players need to adopt a strategic approach. Here are a few ways to use a free bet effectively:

Place bets on long term events

One effective strategy for using a free bet is to place it on sports events with long odds (high odds). While these bets may have a lower chance of winning, the potential profit from a win will be much higher. This way, you can maximize the value of your free bet.

For example, if you have a $25 free bet and place it on a match with odds of +500, your profit would be much higher compared to placing a bet with lower odds.

Calculate expected value

To better understand the potential profit from a free bet, you should calculate the expected value (EV) of each bet. This is a key tool to help determine the profitability of each bet.

Expected Value (EV) Formula:

• EV = Implied Probability × Bonus × Stake

For example, with odds of +500, the expected value would be:

• Odds of +500: Expected Value = 1/6 × 5 × $25 = $20.83

From the formula above, you can see that bets with longer odds offer a higher expected value. Therefore, to maximize profits from free bets, focus on placing long-term bets with high odds.

Hedge other bets

Another strategy is to use a free bet to “hedge” other bets. This allows you to secure a portion of the profit from your free bet without worrying about the outcome of the match. This strategy involves placing a bet on the opposite side at another bookmaker, ensuring some profit regardless of the match result.

For example, you place a bet on a match with odds of +325. If you place a hedge bet at another bookmaker on the opposite outcome, you can protect part of your profit from the free bet, regardless of the result.

Take advantage of free bets from multiple bookmakers

Instead of just using one free bet from one bookmaker, you should take advantage of offers from several different bookmakers. Signing up with multiple bookmakers gives you access to more promotions and a wider choice of odds.

However, always check the terms and conditions that come with each free bet to avoid missing out on benefits or taking unnecessary risks.

How to turn bonus bets into cash

Below are the detailed steps to convert bonus bets into cash that players need to know clearly, specifically:

Step 1: Read the bonus terms carefully

Before using the bonus, you need to clearly understand the conditions that come with it. Usually there will be wagering requirements (e.g. wagering 3 or 5 times the bonus amount), time limits, and a list of games that can be used with the bonus.

Step 2: Complete the wagering requirements

Use the bonus to bet the required number of times. For example, if you receive a bonus of VND 100,000 with a wagering requirement of x5, you need to bet a total of VND 500,000 before you can withdraw.

Step 3: Bet on a valid game

Choose the games or sports that count towards the wagering requirements. Avoid games that are excluded or have low odds when using the bonus.

Step 4: Check your real money balance

After completing the requirements, the bonus will automatically be converted into real money in your main account. Go to the balance section to check if the funds are available for withdrawal.

Step 5: Proceed to withdraw

Once the funds are in your real money account, you can request a withdrawal to your bank account, e-wallet or payment method supported by the bookmaker. Make sure you have verified your account if required.

Final Thoughts

So through the above article, you have learned about what is a bonus bet? However, to maximize the benefits of bonus bets, you need to have a reasonable strategy to use them. Focus on bets with long odds, calculate the expected value, and take advantage of promotions from many different bookmakers to maximize your profits. With the right strategies, bonus bets will become a powerful tool in increasing your profits when participating in sports betting.

See more: The basics of negative odds that every player needs to know