How to Use a Bonus Bet
6 min read · Free
What is a Bonus Bet?
A bonus bet is a credit given by a sportsbook that lets you place a bet without risking your own money. There's one key catch: if the bet wins, you only get the winnings — not your stake back.
Key Difference from Cash:
Cash bet of $100 at +100: Win → get $200 back ($100 stake + $100 profit)
Bonus bet of $100 at +100: Win → get $100 back (just the $100 profit — no stake returned)
The Wrong Way to Use a Bonus Bet
Most beginners just pick a team they like and use their bonus bet on them. If the bet loses, they get nothing. If it wins, they get some profit.
Expected value: roughly 50% chance of winning × the payout = maybe 40-50% of the bonus bet's face value. A $200 bonus bet is worth maybe $80-100 this way.
The Right Way: Hedge It
By placing your bonus bet on one outcome and a cash bet on the opposite outcome at another book, you can lock in a profit of 60-70% of the bonus bet's face value.
Live example — found Oct 24, 2026
Get up to $1,000 in Bonus Bets
Bonus bet on Over 62.5 (+800) at FanDuel (+800)
Cash hedge on Under 62.5 (-900) at Fanatics (-900)
Converted at 80.0% → $800 locked in, whichever side won.
A real play our scanner recorded — historical, the lines have moved. See all results →
Step-by-Step
- 1
Sign up at a sportsbook and claim your bonus bet (it usually appears after your first deposit or bet).
- 2
Find a game where the odds are near +120 to +160 for the side you'll use the bonus on.
- 3
Find that game at a second sportsbook and look up odds for the OPPOSITE team.
- 4
Use our Promo Calculator to find the exact hedge amount.
- 5
Place the bonus bet first, then immediately place the cash hedge bet.
- 6
Watch the game — either way, you profit!
Pro Tips
- Target +120 to +160 odds for your bonus bet — the math works best in this range.
- Move fast — odds can change between placing your two bets.
- Have both apps open before you start, with the bets ready to place.
- Use our calculator to get exact amounts — don't eyeball it.