Lesson 2 of 9

Bonus bets and sportsbook promotions

Turning bonus bets, no-sweats and boosts into cash you keep.

  1. 2.1What is a bonus bet?A bonus bet is credit you can wager but not withdraw. A win pays the winnings only, never the stake, so a $100 bonus bet is worth roughly $65 to $80 in cash when it is hedged well.
  2. 2.2How to convert bonus bets into cashA bonus bet is worth what you can lock in, not its face value. Bet it at long odds, hedge the other side with cash, and keep 65–80% of it whatever happens.
  3. 2.3What is a good bonus bet conversion rate?70–75% is a good conversion rate on a hedged bonus bet. It is set by two things: the odds you use the bonus at, and how tight the pair of prices is.
  4. 2.4Site credit vs bonus bets: why the stake changes everythingSite credit returns its stake when it wins, so it is worth close to face value and converts best near even money. A bonus bet keeps its stake, so it converts best at long odds. Same method, opposite prices.
  5. 2.5No-sweat bets: what they are worth and how to use themA no-sweat bet refunds your stake, usually as a bonus bet, if the first bet loses. Its value is the chance of losing times the refund times what you can convert the refund at: about $40 to $50 on $100.
  6. 2.6Profit boosts and odds boosts: how to tell if one is worth takingA boost is only worth taking if the boosted price beats the fair price. A 50% profit boost on a main-line market usually does (by about a quarter of the stake in the example below); many boosted parlays do not.
  7. 2.7Deposit match bonuses and rollover: what they are really worthA deposit match is worth the bonus minus what it costs to wager the rollover. On ordinary markets that cost can eat half the bonus; on low-hold markets it can be a tenth.
  8. 2.8How to work through sportsbook sign-up bonusesTreat each sign-up bonus as a one-time conversion: check the terms, pass the ID and location checks, convert the offer with a hedge, then move to the next book.
  9. 2.9Promotions: the most reliable money in bettingBonus bets, deposit matches, second chances and boosts — what each is actually worth, and how to convert it.