Quick Start Guide – Bonusbank

Quick Start Guide

Turn bookie welcome bonuses into guaranteed profit in the next hour

Most new bookie customers receive a welcome bonus. You’ll use that bonus + Betfair to lock in guaranteed profit. Here’s how the process works:

📋
Open Account
→
💰
Get Bonus Offer
→
🎯
Convert to Cash
Why this works: You’re not gambling – you’re exploiting the maths. By backing AND laying the same outcome, you guarantee a small loss (~$2-5) to unlock a much bigger bonus ($50+). That’s a 10x return with zero risk.

✓ Pre-Flight Checklist

☑
Betfair account (sign up here)
☑
$200+ deposited in Betfair (more is better – this covers your liability on lay bets)
☑
$50-150 ready to deposit into bookie (but don’t deposit yet – wait for the offer!)
☑
One fresh bookie account – we recommend Ladbrokes or TAB (they consistently offer welcome bonuses to new customers)
☑
15-20 minutes of active time
Haven’t opened Ladbrokes or TAB yet? Perfect – open one now, then come back to this guide.

Already opened both? No worries – try Bet365 or Unibet next. The process is identical.
01

📋 Open Your Account & Wait for the Offer

Variable timing

Sign up for your chosen bookie account.

Do NOT deposit yet!

Wait for a welcome bonus offer (appears via email, SMS, or in your account).

Timing varies by bookie:

  • Some bookies (like Ladbrokes) often send offers immediately
  • Others may take a day, a week, or longer
  • Be patient – depositing before you get an offer may mean you miss out

Common offers you’ll see:

  • “Deposit $50 and get $50 in bonus bets”
  • “Get up to $100 in bonus bets on your first deposit”
  • “Bet $X and receive bonus bets”

Note the terms:

  • How much do you need to deposit/bet?
  • Where can you use it? (any sport, or racing only?)
  • Is it one large bonus or split into smaller amounts? (e.g., 5x $30 bets instead of 1x $150)
Pro tip: Smaller split bonuses are actually great – you get more practice and you need less in your Betfair account for each bet!
02

💳 Make Your Deposit

1 min

Once you’ve received your offer, now you can deposit.

Deposit the amount required to trigger your bonus.

✓ Nice! You’ve got your offer. The rest is straightforward from here.
03

🔍 Find Your Qualifying Match

3 mins

Open the Bonusbank ATM

Look for a match with <5% loss (shown in the SR column)

ATM Lite showing sports matches

Example: The Arsenal vs Sunderland match shows -2.05 in the SR column (less than 5% loss – perfect for qualifying!)

What to look for: Lower percentage = less you lose to unlock your bonus. Click on the SR number to open a pre-filled calculator.
Important: Even if your bonus must be used on racing, you can place your qualifying bet on any sport. Only the bonus bets need to be used on racing.
04

🎯 Place Your Qualifying Bets

3 mins

Use our Basic Calculator (or click the SR number in the ATM to open a pre-filled calculator)

Calculator modal showing pre-filled bet amounts

Example: Click the SR number and the calculator opens with odds pre-filled. You only need to adjust the stake.

The calculator displays all of the relevant information:

  • Current Odds – For the bookie and Betfair
  • Betfair Commission – This can change depending on the sport
  • Lay Stake – Amount to lay at Betfair ($104.46 in example)
  • Liability – Amount you need in Betfair ($18.80 in example)

Placing your bets:

1. Back bet at bookie: Betting FOR an outcome (the team/horse to win)

Place your $100 stake at Ladbrokes (or whichever bookie you’re using)

2. Lay bet at Betfair: Betting AGAINST the same outcome

Click the pink box for the same team/horse you backed. In the ATM screenshot above, you’d click the pink “1.18” box under “Lay”.

About Betfair liability: The amount you need in your Betfair account varies based on the odds. Lower odds = less liability required. Higher odds = more liability required. In the calculator example above, you need only $18.80 liability for this particular bet. This is normal for a qualifying bet. Bonus bets have much higher liabilities.
Expected result: You’ll invest $2-5 to unlock your bonus (that’s 10x return when you convert it!)
✓ Bets placed! Your bonus is locked in. Now let’s turn it into cash.
05

💰 Convert Your Bonus Bet to Real Cash

4 mins

Once your bonus appears (timing varies – check bookie T&Cs)

For sports bonuses:

Find a match with >70% rating on the ATM (look in the SNR column). Click on the SNR number to open a pre-filled calculator, or use the standalone calculator in SNR (Stake Not Returned) mode. The rest of the process is exactly the same as your qualifying bet.

For racing-only bonuses:

If you received multiple smaller bonuses: Simply repeat the process for each bonus bet. This is actually beneficial – you get more practice and reduce the liability on each bet!
Expected result: Turn your $50 bonus into $35-40 real cash (70-80% conversion). Repeat for each bonus if you have multiple!
06

🎉 Celebrate & Manage Your Funds

2 mins
🎉
You just made your first matched betting profit!

Once your bet settles, you’ve successfully completed your first matched bet.

📊 Track Your Progress

Now that you’ve made profit, log it in your Bonus Tracker:

The Bonus Tracker helps you:

  • ✓ See your total profit at a glance
  • ✓ Remember which bookies you’ve used
  • ✓ Contribute to our community knowledge
Add to Your Tracker →

Where is your profit?

Your profit could be in either account depending on which side won:

  • If your back bet won → Profit is at the bookie
  • If your lay bet won → Profit is at Betfair
  • Either way, you’ve made your guaranteed profit!

Should you withdraw?

Best practice: Accounts are usually reviewed on their first withdrawal. It’s best to place some additional bets first. If we just take the bonus and run, it’s easy for the bookie to know we’re matched betting. Leave funds in bookie accounts when possible – only withdraw if you need the money for other bonuses or personal use. Betfair is fine to withdraw from anytime.

Share your win on Discord! 🎉

❓ Common Questions

What if my back bet loses?

That’s perfectly fine! Your lay bet at Betfair covers you either way. This is why it’s guaranteed profit – you win on one side no matter what.

What if I can’t find a match with <5% loss?

Wait 30 minutes and check again. New matches appear constantly throughout the day. Best time to find good matches is close to game time. Weekends will have more options than weekdays. The ATM updates live with thousands of matches.

What if I mess up the calculator?

Click the SR or SNR number in the ATM – it automatically fills everything for you. You just copy the numbers to each site.

How long until my bonus appears?

Usually within 24 hours, sometimes instantly. Check your bookie account and email. Each bookie is different.

Is this actually legal?

Yes, completely legal. You’re just using the bookies’ own promotions against them using basic maths. Over 1,000 Australians do this through Bonusbank.

🚀 What’s Next?

Rinse & Repeat:

You just learned the most profitable matched betting strategy. Now repeat with other bookies:

Next accounts to open (in order):

  1. The other one (TAB or Ladbrokes – whichever you didn’t use)
  2. Bet365
  3. Unibet
  4. Sportsbet
  5. Continue with other bookies from our full list
Pro tip: Space out your account openings. Don’t rush to open them all at once.

Expected earnings from welcome bonuses: There are over 100 licensed online bookies in Australia. Not all offer welcome bonuses, but members who work through them typically make around $2,000+ in total.

Want to Accelerate Your Earnings?

Basic

$39/month
  • 10 bookies on the ATM
  • Premium Discord access
  • Advanced calculators
  • HorsePower Lite

Plus

$99/month
  • Everything in Basic
  • HorsePower & Racing Matcher
  • 80+ bookies on the ATM
  • Dutching, 2up, and more

Pro

$149/month
  • Everything in Plus
  • Value betting tools
  • Advanced dutching
  • Odds comparison tool
  • SGM Finder
View All Plans

⏰ Why Start Today

Welcome bonuses can change or disappear without warning – bookies adjust their offers regularly. The accounts you open this week might not have the same bonuses next month.

The sooner you start, the sooner you’re making consistent profit. Most members who complete this guide within their first week go on to make $100-300/week from ongoing promotions.

After Welcome Bonuses:

Once you’ve worked through sign-up offers, you’ll move to:

  • Weekly ongoing promos (refunds, bonus bets, boosted odds)
  • Racing promos (requires HorsePower – Plus tier)
  • Dutching & arbitrage strategies (Plus/Pro tiers)

Need Help?

We’re here to support you every step of the way

Stuck on a step? → Email support or Ask in Discord

Book a phone consultation | Continue to full Matched Betting Basics course