The easiest way to profit from the bookies
Bookies regularly offer bonus bets to encourage customers to deposit. By using a simple technique you can turn them into guaranteed cash in your pocket.
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How it works
Australian bookies can’t offer a bonus just for opening an account, but many send deposit offers once you’re a customer. Follow these steps to turn them into cash.
- Open an accountJoin a bookie you haven’t used before and keep an eye on the offers it sends you.
- Place the qualifierBack a selection at the bookie, then lay it on the Betfair Exchange. The two bets cancel out, so the cost is a few dollars at most.
- Receive the bonus betThe bookie credits your bonus bet once the qualifier conditions are met.
- Convert it to cashBack with the bonus bet and lay again at Betfair. You keep the same profit whichever side wins.
A worked example with real numbers
Here is one $100 offer from start to finish. Betfair commission is 6%, its rate for most sports.
Step 1: the qualifier
| Back at the bookie: $100 at 1.50 | $100.00 |
| Lay at Betfair: $100.67 at 1.55 | $55.37 liability |
| If your selection wins | −$5.37 |
| If your selection loses | −$5.37 |
| Qualifying cost | −$5.37 |
Step 2: the $100 bonus bet
| Back with the bonus bet: $100 at 5.00 | stake not returned |
| Lay at Betfair: $79.37 at 5.10 | $325.40 liability |
| If your selection wins | +$74.60 |
| If your selection loses | +$74.60 |
| Bonus bet profit | +$74.60 |
Example odds only. Odds and offer sizes vary, and you’ll need enough in your Betfair account to cover the lay liability. Once the bets are placed the result is locked in, which is why matched betting on an offer like this is risk-free.
Try it on your own bonus bet
Enter the bonus amount and the odds you can see. The calculator works out the lay stake and what you keep.
For stake-not-returned bonus bets, the most common type. Need more options? Use the full matched betting calculator →
Finding the right odds is the slow part
The closer your back and lay odds, the more you keep. Doing that by hand means checking dozens of markets to find a good match.
🔒 Members see this live
The ATM compares bookie odds against Betfair and ranks the closest matches, so converting a bonus bet takes seconds.
See how the ATM worksHow Bonusbank helps
Step-by-step course
Our free beginners course walks you through your first offers, with videos and worked examples. You can start it today without a card.
See the courses →Matched betting calculator
Enter the odds and it gives you the exact lay stake for qualifiers and bonus bets, so the maths is never on you. Members get advanced calculators for every situation.
Open the calculator →The ATM
The ATM finds the best back and lay matches across the bookies you use, so you keep more of every bonus bet and spend less time searching.
About the ATM →What members say
“Between welcome bonuses, promo uses, and +EV parlay/multi betting, somehow I profited over 1.5K in just under four weeks across 6 different bookmakers, and that’s while making a few mistakes along the way!”eyre
“During 18 months of solid matched betting with Bonusbank, I was able to knock 8 years off my mortgage.”BigBird
“The courses are very in depth and provide instant information about how to get started. As well as this the discord has a very helpful community who will answer any questions you have.”jbbet
Individual results vary with time, bankroll and the offers each member receives.
Questions people ask
What is a bonus bet?
A bet credit from a bookie. If it wins you keep the winnings but not the stake, which is why a $50 bonus bet is worth less than $50 in cash. Matched betting converts it into withdrawable cash at around 75% of its face value.
Is this really risk-free?
Yes, once both bets are placed. You back one outcome at the bookie and lay the same outcome at Betfair, so every result is covered and your profit is set before the event starts. The worked example above shows the numbers. The part you control is choosing reputable bookies and entering stakes correctly, and the calculator handles the stakes for you.
How much can I make from deposit bonuses?
A converted bonus bet usually returns 70 to 80 percent of its face value, less a few dollars in qualifying cost. The $100 offer above left $69.23. Your total depends on how many bookies you join and the offers they send you. After that, refund offers and racing promos keep going every day.
Can Australian bookies offer sign-up bonuses?
Not just for opening an account. Under the National Consumer Protection Framework, bookies cannot offer a bonus as an incentive to open an account or to refer a friend. However, once you open an account they can send you a ‘welcome’ or ‘first deposit’ offer, which operates the same way.
How much money do I need to start?
Many members start with around $400. You need enough for the bookie deposit plus the lay liability at Betfair, which is larger than your stake. Start with smaller offers and work up as your balance grows.
Is matched betting legal in Australia?
Yes. You’re placing ordinary bets with licensed bookmakers and Betfair. Bookmakers can choose to limit accounts, and our guides show you how to keep yours healthy for longer.
Will bookies limit my account?
Some will limit your bets, but the more common step is to stop you from receiving more bonus bets. Mug betting and spreading your action across bookies help prevent or delay this. Members who follow our account guides keep their accounts active for longer.
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