Bonus Bets are the simplest to convert, and one of the most popular promotions out there. In general, you can expect a return rate of about 70% of the listed value. 

What exactly are they?

A bonus bet is a type of promotion rewarded up to a certain dollar amount. This amount can usually be placed on any wager, and tends to have an expiration date. If you win the wager you placed the bonus bet on, you are only rewarded the profit, not the initial amount. So if I placed a $100 bonus bet at -150 odds, I would only recieve $50.

Because they are risk free, if we play a bonus bet against a hedge or lay bet, we can guarantee a profit. Right now, Fanduel has a sign up promotion where you are awarded a $200 bonus bet for creating an account. Lets walk through how to make some free money from this. 

Step-by-Step

  1. Go to your dashboard then locate "Bonus Bet" under the "Bet Finders" Section.  Finders preview
  2. Select it and you'll be brought to the bonus bet finder page. Here, you'll input information about your bonus bet. The two important pieces are: the bonus bet size, and the bookmaker who is hosting it.  Bonus Bet Page before input information
  3. After inputting in your information you'll get a page that looks something like below. These are the most profitable matched bets you can make for the given bonus bet you have. The odds are updated every 5 minutes, so this data could be out of date with what the real lines are. Make sure to double check. Bonus Bet Page after receiving data
  4. Select the bet you prefer the most. In our example we'll choose the top one. By placing the entire $200 bonus bet on Mike Bardsley and then hedging that with $910 on Alexei Pergande you mathematically must make $130. If you click on the bet you want and then select Explain This in the bottom right corner of the screen you can see a detailed explanation.Matched Bet Slip Explanation

Getting Bonus Bets

We'll touch more on this in a later guide, but bonus bet promotions are pretty easy to find. We update our lists of current promotions everyday, which is a great way to find more free money! Usually, the only barrier to receiving one from bookmakers like Fanduel is to place or win your first wager. This is virtually a non-existant barrier since you can find live bets that will not lose.