Bonus bet conversion is a method of using bonus bets to ensure a profit, regardless of the outcome. It involves betting the underdog (plus-money side) with your bonus bet and hedging on the favorite at another sportsbook using cash.
As an example, imagine you have a $100 bonus bet at +300 odds. You could place this bet on one side of a wager, then place a hedge bet of $220 at -275 odds on the opposite outcome at a different sportsbook. If your bonus bet wins, you'll win $300 but lose your $220 hedge bet, for a profit of $80. If your hedge bet wins, you'll lose your bonus bet (at no cost to you) but win $80 from your hedge bet. Either way, you've guaranteed a profit of $80 - which means you've converted your $100 bonus bet at an 80% rate.
Most sports bettors aim to get bonus bet conversion percentages over 70%. This means that for a $100 bonus bet, you will be able to earn $70 in guaranteed profit.
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