Matched Betting Frequently Asked Questions

Matched betting is the process of taking advantage of promotions offered by bookmakers and turning them into profit.

 

Many bookmakers offer free bets such as “Bet $100 to receive a free $100 bet” as a sign-up bonus when opening an account or to encourage people onto their site during a certain event such as the Grand Final. It is possible to use these free bets to make easy money with no risk.

It is a simple technique of backing with your free bet and then laying that bet on a betting exchange so that you make a profit regardless of the outcome of the match.

For a more in-depth breakdown of matched betting read our 'matched betting guide for beginners'

What is matched betting?

Matched betting is legal as long as you are over 18 and a resident of Australia/New Zealand.

Bookmakers offer these promotions to entice you to bet with them. They do this in the knowledge that the vast majority of customers will be profitable to them in the long run. Bookmakers don't like us though, as we're consistently taking value.

It could be answered by saying 'how long is a piece of string' because the amount you make is really dependent on how much time you put into it. We have many members of the Bonus Money Pro service who derive a full-time income from matched betting.

If you are just beginning to matched bet it is reasonable to assume you could make between $2000-$5000 from sign-up bonuses alone.

It is also possible to make up to $2000 per month from ongoing promotions. These promotions are offered to existing customers as a way to keep them betting. There are hundreds of opportunities each week to get involved with and the bookmakers compete for custom.

The risks are very minimal. With matched betting, you cover all possible outcomes by backing and laying your bets to make an equal profit. You are effectively eliminating the risks that are associated with traditional betting.

The only real risk is human error, such as forgetting to place a bet or placing a bet incorrectly. By joining the Bonus Money Pro service you get access to support to ensure that human errors are minimized.

The more money that you can start with the quicker you can complete all the signup bonuses. This is because it allows you to cover larger liabilities with Betfair. Meaning that you can find better matches and make more profit. There is no rush and the best advice is to take one matched bet at a time so that you can fully understand the process.

You could effectively start with as little as $100 and complete a $10 signup bonus. This would give you enough money to acquire the bonus and to lay your bonus bet on a betting exchange.

A $100 signup bonus is the smallest you should take to maximize your profit.

To fully profit from a $100 sign up bonus it's recommended that you have a starting bank of at least $500.

Our recommendation is to sign up with the TAB as your first bookmaker. This is because they offer a bonus to any resident of Australia. Our matched betting guide takes you through the step by step process of profiting from this sign-up bonus. If you complete each of the steps you will make a profit of roughly $70 risk-free.

If you are already signed to the TAB, you can get involved with the other bookmakers that we list.

Matched betting is suitable for any Australian resident over the age of 18.

It is perfect for anybody looking to make a tax free second income.

Anybody who has been looking to make money online will not find a simpler method than matched betting. Whether you are working full time and want to boost your income, working in the "Gig Economy" or a stay at home parent - matched betting is a viable income option.

You don't need to have any knowledge of betting as our beginner's guide will teach you all the information about betting that you need to know. That said if you understand how placing a bet works or how to navigate around a bookmakers website it is even easier. You can brush up on the lingo here.

You don't need any knowledge of sports. When you are matched betting you aren't predicting a team to win. You are using simple maths to profit from the promotions that bookmakers offer.

If you are going to be matched betting without the use of a service like Bonus Money Pro then you will need to calculate how much to bet on each team to derive an equal profit.

Bonus Money offers a heap of tools that mean you don't need to even work out how much to bet. We have calculators that work out for you the exact amount to back and lay to gain an equal profit regardless of the outcome of the match.

To learn how to matched bet confidently should only take an hour or two. It is natural when you are first starting out to want to check and recheck your bets. As you become more proficient, you will find that searching for the correct bet to place and placing the bets takes less than a minute.

It's feasible when starting out to make a couple of thousand dollars from the sign-up bonus in under a month and that would involve around 10 hours of work. It takes a month as you have to wait for bets to settle so that you can withdraw your profits and move on to the next bookmaker bonus.

For ongoing promotions, you can dedicate as little or as much time as you like. The busiest days with the most promotions are when most sports games are on which tends to be the weekends. Many of our members would spend around 5 hours per week placing bets.

Bonus Money saves you hours browsing the web for valuable offers and provides calculators to make it much easier for you to profit.

Remember matched betting is not gambling it's the process of matching your bets to gain equal profits regardless of the outcome. It is possible to make consistent profits matched betting. Gambling is risky, matched betting is not.

There are many members in our community that do this on a Full-Time basis.

Many people are skeptical about matched betting. There are very few legitimate ways of making easy money online so when someone tells you they make money this way they simply don't believe it's possible.

There is also a stigma around making money from gambling companies which prevents many people from taking part,

In the UK there are an estimated 200,000 people who have taken part in and profited from matched betting but in Australia, this number is vastly smaller at this time.

Most people think that if it sounds too good to be true, then it probably is. Which is why Bonus Money lets you decide for yourself with a 30-day money back guarantee.

As soon as you have completed your turnover requirements with a bookmaker then you can withdraw your winnings. Every bookmaker has different turnover requirements. Our members can view the different terms for each bookie on site and in our forum.

In Australia, there are different state laws determining whether bookmakers can entice you to their service with bonuses. When you see advertisements for bonuses you will often see in the small print state exclusions. Often bookmakers allow you to circumvent these state restrictions. Bonus Money Pro members have access to the most current information on which bookmakers sign up and ongoing promotions are available in each state.

Yes!

Many of the promotions that are available to Australian residents are also available to residents of New Zealand. We have many Kiwi members in our Pro forum.

The promotions listed on the Bonus Money website are only available to residents of Australia and New Zealand.

When starting out it can be confusing to know which bets to place. Our interactive guides for each bookmaker sign up bonuses makes it super simple as we have already found for you suitable bets to make a profit. All you need to do is to visit the bookmakers' site and place the bets as suggested in our guides.

Our offer calendar also highlights which games have ongoing promotions allowing you to make consistent profits week after week. We have calculators to show you exactly how much to bet, software the searches the web for the best odds and a helpful community to offer you any help that you may need.

Unfortunately not, but you will still be able to take advantage of their ongoing promotions. Even with the absence of sign up bonuses, you'll still be able to make consistent profits month after month.

Bookmakers have sophisticated technology and it's pretty easy for them to determine if you already have an account with them. You don't want to risk having a bet or bonus bet canceled after you have layed your bet as you could easily be out of pocket. A few of the bookies will identify that you have an account already if you try to resign up and stop you from completing the process. Other bookies allow you to open a second account but either merge your account or close it in the days following you opening it.

A few but not many bookmakers allow partners to also open an account and get a sign-up bonus. Many bookmakers have strict terms that don't allow people to gain a sign-up bonus if another person who lives with them has already had a bonus. They track this via your IP address as well as your physical address.

Any sport or market can be used to match bet. The best sport is the one with the odds closest matching Betfair which can be literally anything. One piece of advice though is that betting on obscure sports such as Lithuanian handball just to gain an extra couple of percentage return on a bonus bet is not particularly wise. You want to appear to a bookmaker as much like an ordinary punter so that your account doesn't get banned from using promotions. The best way to do this is to bet on the most popular markets such as AFL and NRL.

Bookmakers don't like people who make money when betting with them. If you are only ever placing bets that are attached to a promotion then eventually the bookmaker will contact you and tell you that you are no longer eligible for their promotions. This will eventually happen to some of your bookmaker accounts. Take it as a badge of honour as they are suggesting that you are a customer who is making a profit rather than the typical mug punter who loses money to them.

You will be able to complete sign up bonuses without getting promotionally banned so it only becomes a concern after betting for several months.

Bookmakers continue to offer generous promotions in order to retain custom. They're well aware that they're operating in an ever-increasing competitive market. To combat this, they will continue to incentivize customers with ongoing offers. You'll see them advertised. Examples include getting a refund if your horse finishes 2nd or 3rd. Or, if your team leads at halftime but go on to lose, get your money back as a bonus bet.

We use similar techniques. Take a small loss with an aim for the promotion to trigger, so that you'll get the bonus. These small qualifying costs are far outweighed by the profits you'll make by turning over your bonus bets as you did with sign-ups. Bonus Money only shows promotions whereby playing them in the long-run, you'll profit.

When starting out it can be confusing but if you read our beginners guide to matched betting we go through all the core terms and concepts that you need to understand.

We also have a comprehensive glossary of terms that covers everything related to matched betting.

If you've selected a fixed odds bet, then the odds you select will remain the same regardless if the odds change on the bookmakers' website in the run-up to the start of the match. The only exception to this is with horse racing whereby odds may be decreased if a horse is scratched and does not race. It's therefore wise not to bet on horse racing when first starting to matched bet.

Bookmakers generally don't allow you to cancel a bet after it's been placed. If you have placed a bet in error and need help to fix it quickly then jump into our free forum and we will be able to offer our advice on how to fix it.

The best method for depositing into bookies is via your bank card. Avoid using credit cards as they will usually treat a bookmaker deposit in the same way as they do from withdrawing cash from an ATM whereby you are charged interest instantly.

There are other methods to deposit into bookmakers such as POLI and Skrill but often depositing using these methods mean that you won't be eligible for the sign-up bonus.

You don't have to have a separate bank account to matched bet but it can be a good way to keep track of your money. Read our setting up for success guide to learn more about suitable bank accounts.

It's wise to keep a track of where you have deposited and the withdrawals that you make. It is usually done in the form of a spreadsheet. Bonus Money users can access our free tracking template.

Bookmakers require you to positively identify yourself. Although some bookmakers automatically do this you may need to send copies of ID such as driving licenses, passports, copies of your bank card and proof of address.

The idea with matched betting isn't really to lose on the bookies site. It is to take value from the promotions that are offered putting the odds in the favour off a matched bettor. This is why you will see us constantly refer to 'Expected Value' (The amount of money on average you would expect to make from the offer).

It is certainly easier if the bet at the bookmaker loses and you have the funds go directly to Betfair as that means there is no turnover requirements and you can quickly use the funds again for other offers. However, you can't choose whether a bet wins at the bookmaker or not. If you could there would be no need to matched bet as you would simply lay bets that were going to lose on Betfair and make profits.

It really doesn't matter if you are betting at odds of 1.5 or 15. The percentage chance of the money ending up at the bookmaker is directly correlated to the true odds of the bet. For example if the lay odds are 15 on Betfair and you manage to back at 15 on the bookmaker then on average 14 out of 15 times the money will end up in Betfair but on one in fifteen occasions you will end up with 15 times the amount of money in the bookmaker account.

The value and profit we are making comes directly from the bookmaker offering either enhanced odds or a promotion so they are the ones we are taking profit from. It is for this reason along with any other forms of taking value from a bookie that will see you banned from promotions and betting limits reduced. We use Betfair to reduce the variance that comes with betting making it a much smoother ride for profit. For this sanity procedure we pay a commission to Betfair. In the community you will see people talk about 'Advantage Play' they are referring to not laying on Betfair. In the longer term people that took exactly the same bets as if they were laying would end up ith more profit as they aren't paying commission but it is really only suitable for people with large bankrolls and people not averse and able to cope with the rollercoaster ride that is variance.

The payment method will try again automatically in 5 days time. After 3 failed attempts it will cancel fully.

To rejoin the service before the next attempt please follow these steps
1) Log in to in your Paypal account and cancel your current recurring payment to Bonus Money
2) Log in to your Bonus Money account
3) Visit https://bonusmoney.com.au/bonus-money-pro
4) Resubscribe by clicking on one of the buttons on the page and completing a new Paypal payment

Racing NSW

Limits: $2,000 metro racing / $1,000 non-metro racing

Bookmakers must accept all bets to win up to the specified amount. The limits apply on race day, from 9 am until the race jumps.

 

 

Racing Victoria

Limits: $2,000 metro racing / $1,000 non-metro racing

Bookmakers must accept all bets to win up to the specified amount. The limits apply on race day, from 9 am until the race jumps.

 

Racing Queensland

Limit: $2,000 metro racing / $1,000 non-metro racing

 

Tasracing

Limits: $1,000 all racing

 

Thoroughbred Racing SA

No Limit

 

Racing & Wagering WA

No Limit

If you wish to cancel your subscription you can log in to your Paypal account and cancel your recurring payment.

You should then receive an email from Paypal notifying you that your recurring payment has ended

If you have any difficulty with this please contact us at info@bonusmoney.com.au or via live chat

If you have any other matched betting related questions feel free to ask them in our free forum here. Or use the live chat feature on site and one of our experts will assist you