Any sports better will tell you that bonus bets or even free plays are not just a chance for you to rocket your bankroll. They are actually a very good way for you to learn more about betting, the way things work and more but without the risk.
Wagering on a sport with the money that’s been given to you by a sportsbook is truly a thing of beauty. If you can then turn that bet into some serious cash, this will help you to reach sports betting nirvana.
So why should you be trying to use bonus bets over your own money? The main reason for this is because a bonus bet is normally given to you via a sign-up or even a deposit incentive. It may be given to you in hopes that you will place a certain type of bet. You have to know that, unlike a standard wager, the payout on your bonus bet doesn’t include the original stake. It just includes the profit and they do carry some other conditions.
Knowledge of Bonus Bets
The bottom line when you use bonus bets is that you will not get your stake back if the bet does cash. You will get the profit from the bet, and this is why you should use the bonus bet in a certain way so that you can reap the biggest benefits from it. When you think about it, you should not get the stake back. If you do, then this will go against the mere spirit of the bet. If you want to turn your sports betting bonus into a way to make bank, then this is the guide for you.
Long Odds Every Day
The fact that as a better, you will not get your stake back means that chasing all of the long odds is not a recommendation. It is in fact a necessity. A lot of this comes down to simple math. The longer your odds are the less impact of the non-return of the stake you’ll get. If you place a bonus bet of $20 and you put this on a favourite that is -200 then you will have a payout of around $10 for example. If you have a $30 payout but the bonus bet is $20 then you will have a payout of $10.
This means that you are getting a 66% loss on your payout, and all of this is due to the no-stake return policy. If you put your $20 bonus bet on an underdog and this stands at +400 however, then you will see a return payout of $80 and this will give you the relative effect of your non-return minimised. If you have a $100 payout, and you lose your $20 bonus bet then your actual payout would be $80. This is a way more palatable return and you may find that you come out with way more money overall so you have to keep this in mind as much as possible.
The Counter Argument
Now there is a counter-argument here and that is the fact that the underdog is not as likely to win. In other words, you may be better off getting some profit, rather than risking it all for a bigger payout. The issue with this theory is the sheer cost of opportunity. If the bonus bet is applied on the principle of finding value, then this will make no sense for you as a bettor. If you do your research on the underdog, then you will soon find that you do not have to risk any real money at all.
So it has now been established that a punter is far better off trying to find an odd when using their bonus bet as opposed to trying to build some really good numbers elsewhere. Parlay bets are very good, and if you can establish this, then you can be sure to profit. Bonus bets are truly begging to be used on parlays. They give you very good odds and you may find that you can add to the fun factor too. It’s free play so when you look at some underdogs across multiple sports, you will soon find that it is very easy for you to make a tidy profit without having to worry about a thing.