Bonus Bet Calculator – How to Use It ?

Got a bonus but not sure how to use it wisely? Bonus bets can be a fantastic way to boost your bankroll, but navigating the terms and getting the most out of them can be tricky.

This guide will show you how to use a bonus bet calculator, also known as a free bet calculator to make the most out of your sports betting rewards.

Let’s dive in and see how to turn those perks into real winnings.

What Are the Benefits of Using a Bonus Bet Calculator?

Free wagers can be a bit tricky. While sportsbooks offer free wagers and a chance to win more, understanding their value can be confusing. That’s where a bonus bet calculator comes in.

Benefits for Smart Bettors:

  • Understanding the Real Value: A free bet isn’t exactly free money. You usually only keep the profit, not the original bonus amount. The calculator helps you see how much you can really win. 
  • Optimizing Your Strategy: Each free wager is different. The calculator helps you figure out the best way to use your bonus by looking at the odds and potential returns.

I recently received a free bet and wasn’t sure if placing it straight up was the best option.  Using a bonus bet calculator, I discovered a hedging bet strategy that guaranteed a small profit regardless of the outcome. Thanks to the calculator, I maximized the value of my bonus.

How Do I Use the Bonus Bet Calculator?

Using the bonus wager calculator is much like using a matched bonus bet calculator, but it’s somewhat easier, so it’s perfect to use even for beginners!

I received a $10 free wager and wanted to use it wisely, so I looked into bonus bet calculators. Here’s what I learned:

  1. Choose My Wager Type: I select the type of stake I want to place, like a single bet.
  2. Enter the Bet: Let’s say I want to stake $10 on my wager.
  3. Select My Odds Format: I choose the format I prefer, such as decimal odds.
  4. Toggle ‘Each Way’ and ‘Rule 4’: I adjust these settings if they apply to my wager.
  5. Add the Odds for Each Selection: If I’m betting on a single selection with odds of 2.00, I enter this value.
  6. View My Expected Return: The calculator shows me the expected return and profit from my $10 stake at odds of 2.00.

Tip: I made sure to check the terms and conditions of my $10 bonus bet before using the calculator to understand any restrictions or minimum odds requirements. Knowing everything about your sports betting bonuses is the best way to make the most of it!

Using the Free Bet Calculator: A Real-Life Situation

So, here’s the scoop on my recent bonus bet experience:

I received a $20 free bet from my sportsbook, which I decided to use on an NBA game between the Los Angeles Lakers and the LA Clippers. 

The odds for the Lakers to win were +200, meaning if they won, I’d get double my stake.

I placed my $20 bonus wager on the Lakers to win, excited about the potential $40 profit if they pulled through.

However, just to be safe, I also considered hedging my bet by placing a $10 wager on the Clippers to win at -150 odds, ensuring I’d still come out with some profit if the Lakers lost.

Using the free bet calculator, I entered all the relevant details: $20 stake, +200 odds for the Lakers, $10 stake for the hedge wager, and -150 odds for the Clippers. The calculator showed me that:

  • If the Lakers won, I’d make a $40 profit from my bonus stake.
  • If the Clippers won, I’d make a $6.67 profit from my hedge bet, offsetting some potential losses.

In the end, the Lakers won, and I walked away with a sweet $40 profit, thanks to using the bonus bet calculator to plan my strategy.

Interested in Other Betting Calculators? Check Out Our Collection!

Now it is your turn to maximize your sports betting earnings, starting by knowing how to make the most of your bonuses. This bonus bet calculator is just a taste of the powerful tools we offer at TrustnBet.

Explore our collection of the best sports betting tools to discover odds converters, arbitrage calculators, sports betting Excel formulas, and more to elevate your betting game.