It doesn't look like it keeps a crisp fold in the binding, so by the time you go to put it on, it seems to be just a loose fold. Usually I fold and press my binding and or sashing strips by hand without a gizmo.
But if I'm making a Queen or King size quilt, I like to use this by :
Pauline's Quilters World. She has multiple sets and sizes. Here is a YouTube :
How to use Pauline's sasher/binding tools