They give a decent amount of hide. To kill bola it so it can't run then have a herbivore( I personally recommend a iguanodon because they are fast and deal damage) or just use weapons like bows, spears, and torches( torches light enemies on fire dealing a high amount of damage).
BOLAS WORK on MOBILE! If you're still low level and you want one without having to go to the redwoods, those guys also spawn at the bottom right corner of the map, near those tiny rivers that are close to herbivores island. Wait 5 seconds between each tranq arrow hit and you should be fine!! Although, don't go for a high level one if you still can't trap it! Whenever it gets free from the bola, you're gonna have to be a real NINJA to hit that next bola if it's not trapped!!