HOW TO USE A BONUS BET

OK. I know I did a post on this a while back but unfortunately our page got deleted since then. So here it is, how to use a bonus bet…

Obviously everyone in the group is playing Chase The Ace on William Hill, so you’re going to end up with a bucket load of bonus bets. If you’re not playing Chase The Ace, then you’re missing out on free money, today I made over $800 in Bonus Bets from the Promo, and that’s only one day.

OK. Now that’s out of the way, let’s get down to how you should use your bonus bets.
Remember, the thing with bonus bets (except bet365) is that you DO NOT get to keep your stake. So for example you bet a $10 bonus bet on something at $1.50 odds. You will get $15 back minus your $10 bonus bet stake, so you’ll end up with $5.

 

Now that you know how a bonus bet works, I will give 4 simplistic examples of different ways of using a bonus bet and how it effects your profit. For simplicity I will assume that the bookies are taking 0% cut because it makes the calculations easier. It doesn’t change the end result. In these examples we will assume you have $1000 of bonus bets from the Chase the Ace promo and you’ve split them up into 10 x $100 bonus bets.

EXAMPLE 1: You use all 10 of your $100 bonus bets at odds of $1.10. Because the odds are $1.10 you have a 90% chance of winning each bet so you’re expected to win 9/10. Because you don’t keep the stake each winning bet will net you $10 ($110 – $100 bonus bet stake). 9 winning bets of $10 profit leave you with $90 from your initial $1000 bonus. That’s NOT a good return and that is why you NEVER use bonus bets on short odds.

EXAMPLE 2: You use all 10 of your $100 bonus bets at odds of $2. Because the odds are $2, you have a 50% chance of winning each bet. So you’re expected to win 5/10 bets. Because you don’t keep the stake, each winning bet will net you $100 ($200 winnings – $100 bonus bet stake). 5 winning bets of $100 profit will leave you with a total of $500 in profit. So in this scenario you’ve turned $1000 in bonus bets into $500 cash. Not bad, but there is a better way.

EXAMPLE 3: You use all 10 of your $100 bonus bets at odds of $5. Because the odds are $5, you have a 20% chance of winning each bet. So you’re expected to win 2/10 bets. Because you don’t keep the stake, each winning bet will net you $400 ($500 winnings – $100 bonus bet stake). 2 winning bets of $400 profit will leave you with a total of $800 in profit. So in this scenario you’ve turned $1000 in bonus bets into $800 cash. Pretty good.

EXAMPLE 4: You use all 10 of your $100 bonus bets at odds of $10. Because the odds are $10, you have a 10% chance of winning each bet. So you’re expected to win 1/10 bets. Because you don’t keep the stake, each winning bet will net you $900 ($1000 winnings – $100 bonus bet stake). 1 winning bet of $900 profit will leave you with a total of $900 in profit. So in this scenario you’ve turned $1000 in bonus bets into $900 cash.

I know this is a relatively simplistic approach, but over the long term you will profit MUCH MORE if you use all your bonus bets on HIGH ODDS BETS. The higher the better really. I can understand that some people want money NOW, and that’s fine. But you will have many a bonus bet to use over your betting life, and if you use each and every one correctly, you will keep a lot more to yourself and leave less for the bookies.

Stay safe out there punters…