Frequently Asked Questions
Bonus Money aims to be the best resource for matched betting in Australia. We want to help both experienced and new matched bettors gain the biggest advantage possible with their betting.
Anyone can learn how to matched bet with our beginners guide to matched betting.
Members of the Bonus Money Pro service also have access to interactive guides for every sign up bonus in Australia.
In addition Bonus Money Pro members also have access to our offer calendar that details every ongoing bookmaker promotion that can be profitable. Access to our secret forum where every offer is discussed. Access to our oddsmatcher that enables you to quickly and easily profit from your bonus bets or complete turnover requirements.
When you are just starting your matched betting journey it’s natural to have many questions. We hope you’ll find the answer to yours below.
What is matched betting?
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 profit regardless of the outcome of the match.
For a more in depth breakdown of matched betting read our ‘matched betting guide for beginners’
Is it legal?
Yes, As long as you are over 18 and a resident of Australia it is completely legal to matched bet. 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.
How much money could I make from matched betting?
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 in to 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-$4000 from sign-up bonuses alone.
It is also possible to make up to $2000 per month from ongoing promotions.
Are there any risks in matched betting?
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 minimised.
How much money do I need to get started?
The more money that you can start with the quicker you can complete all the signup bonuses. But 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 in a betting exchange.
However a $100 signup bonus is the smallest you should take to maximise your profit.
To fully profit from a $100 sign up bonus it’s recommended that you have a starting bank of at least $600.
Which bookmaker should I sign up with first?
Our recommendation is to sign up with the TAB as your first bookmaker. This is because they offer a $100 bonus to any resident of Australia. Our beginners 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 $60 risk free,
Who is matched betting suitable for?
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.
It’s great for students and stay at home mums to make extra cash.
Do I need much knowledge of betting?
You don’t need to have any knowledge of betting as our beginners guide will teach you all the information about betting that yo 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.
Do I need much knowledge of sports?
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.
Do I need to be good at maths?
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.
How much time does it take?
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 finding 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 profit 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. May of our members would spend around 5 hours per week placing bets.
Is it possible to make consistent profits through gambling?
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.
Why doesn’t everybody do matched betting if it’s this good?
Many people are sceptical 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 taking part,
In the UK there are an estimated 200,000 people who have taken part and profited from matched betting but in Australia this number is vastly smaller at this time.
When can i withdraw my winnings?
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 in our forum.
What about state restrictions for bonuses?
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.
Can I matched bet if I live in New Zealand?
Many of the promotions that are available to Australian residents are also available to residents of New Zealand
Can I take advantage of these promotions outside of Australia?
The promotions listed on the Bonus Money website are only available to residents of Australia and New Zealand.
How do I know what bets to place?
When starting out it can be confusing to know which bets to place. Our interactive guides for each bookmakers 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 profit week after week.
If I’m already a member of a bookmaker but didn’t know about matched betting previously will I still be able to get the sign up bonus?
Unfortunately the sign up bonuses are only available for your first deposit. With 19 bookmakers on our site you should stil be able to make a profit.
What if I open a second account?
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 cancelled after you have laid 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.
Can my wife or husband open accounts too?
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 visa your IP address as well as your physical address.
What is the best sport to use when matched betting?
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.
What happens when your account gets banned from promotions?
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.
How do I continue to make money after all the sign up bonuses have been completed?
Bookmakers want you to continually bet with them so each week they compete with each other offering promotions on the most popular sports. These promotions can be played off against each other to gain more free bets. It is possible to make up to $2000 a month with these ongoing promotions. The Bonus Money Pro service lists all of these promotions in our offer calendar and on our forum.
I don’t understand some terms e.g laying a bet and wagering requirements?
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.
After I place a bet can the odds change?
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.
I’ve made a mistake can I cancel by 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 in to our free forum and we will be able to offer our advice in how to fix it.
What is the best deposit method for matched betting?
The best method for depositing in to 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 in to bookmakers such as POLI and Skrill but often depositing using these methods mean that you won’t be eligible for the sign up bonus.
Do I need a separate bank account?
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.
How do I keep track of my deposits and withdrawals?
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 Pro users can access our free tracking template.
Will I need to send ID?
Bookmakers require yo 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.
I have another question that’s not answered here
If you have any other matched betting related questions feel free to ask them in our free forum here
How To Get Started Matched Betting
There are 19 other bookmakers who offer signup promotions in Australia.
You can expect to make in excess of $2000 by completing every sign up bonus available to you.