Bonus bet turnover requirments?

[TheKanga]

I just had a couple questions regarding bonus bets...

Can you deposit money into a betting site, get the bonus, then withdraw the initial deposit straight away?
A certain site says this

''
Your bonus must be used as one single bet on any market eligible for a bonus.

Any winnings from the bonus bet and your initial deposit must be bet, in as many bets as you wish, on markets of odds of $1.50 or greater within 30 days of being credited.''

So what do I have to do to withdraw winnings from a bonus?

 

[terminators]

I just had a couple questions regarding bonus bets...

Can you deposit money into a betting site, get the bonus, then withdraw the initial deposit straight away?
A certain site says this

''
Your bonus must be used as one single bet on any market eligible for a bonus.

Any winnings from the bonus bet and your initial deposit must be bet, in as many bets as you wish, on markets of odds of $1.50 or greater within 30 days of being credited.''

So what do I have to do to withdraw winnings from a bonus?

Every site has different rules regarding turnover of your initial deposit to get a bonus bet, but they all require it. Some need your deposit turned over once, others 3 times, others 5 times etc before you can withdraw. Otherwise scalpers would open an account, deposit funds, use the bonus bet then withdraw funds. I'm sure you weren't thinking of doing that though

In this case if you deposited say $500 you'll need to turn that over @1-50 or greater before being able to withdraw. Not in one bet though, can be smaller increments. Depending on rules you might also have to turn over any winnings from free bet prior to withdrawal.

 

[TheKanga]

So If I hypothetically deposited $200 and got a $200 bonus bet.
The bonus bet won would I then have to place at least $400 worth of bets to withdraw?
This turnover stuff confuses me

 

[Anzac16]

So If I hypothetically deposited $200 and got a $200 bonus bet.
The bonus bet won would I then have to place at least $400 worth of bets to withdraw?
This turnover stuff confuses me

Every agency works differently, but I would think you would have to turn over your initial deposit at least once. Then you would have to turn over your winnings from the free bet (i.e if you had $200 free bet on at $1.50 odds, you get $100) at least once on odds of $1.50 or more.

If your betting on the AFL Season week by week you should be able to turn over the winnings from the free bet pretty easily. I'd just make sure you arb the free bet with another agency to guarantee yourself some profit.

So to make it clear -

$200 on your own money turned over at any odds.
$100 hypothetical winnings from free bet turned over at odds of $1.50 or more.

Different for every bookie though. Just make sure to read their free bet terms and conditions.

 

[TheKanga]

Every agency works differently, but I would think you would have to turn over your initial deposit at least once. Then you would have to turn over your winnings from the free bet (i.e if you had $200 free bet on at $1.50 odds, you get $100) at least once on odds of $1.50 or more.

If your betting on the AFL Season week by week you should be able to turn over the winnings from the free bet pretty easily. I'd just make sure you arb the free bet with another agency to guarantee yourself some profit.

So to make it clear -

$200 on your own money turned over at any odds.
$100 hypothetical winnings from free bet turned over at odds of $1.50 or more.

Different for every bookie though. Just make sure to read their free bet terms and conditions.

Ok thanks, just reading through their T&C now it seems they only require 1x turnover.

Regarding Arbing that is where you bet on a game for example

(Hypotheticals again here)

$125 free bet on Collingwood @ 3.50
$220 normal bet on Hawthorn @ 1.42 (with a different book)

If Collingwood win a return of $312.50 (minus the stake)
If Hawthorn win a return of $312.40

Take away the $220
Either result I make profit of $92.00
Am I missing something here?

Also can you get in trouble for arbing?

 

[Anzac16]

Ok thanks, just reading through their T&C now it seems they only require 1x turnover.

Regarding Arbing that is where you bet on a game for example

(Hypotheticals again here)

$125 free bet on Collingwood @ 3.50
$220 normal bet on Hawthorn @ 1.42 (with a different book)

If Collingwood win a return of $312.50 (minus the stake)
If Hawthorn win a return of $312.40

Take away the $220
Either result I make profit of $92.00
Am I missing something here?

Also can you get in trouble for arbing?

Yep. Exactly right. I'd just pick a game where you can find the best odds in R1 so you can get the money quicker.

You can if you do it regularly with some bookies. I'd say for this they don't really care. I've done it and had no problems.

 

[TheKanga]

Yep. Exactly right. I'd just pick a game where you can find the best odds in R1 so you can get the money quicker.

You can if you do it regularly with some bookies. I'd say for this they don't really care. I've done it and had no problems.

Ok awesome
Just wondering is it possible to do this and actually make a profit greater than the bonus bet?
I was messing around with the calculator and came up with this.

Example:

$50 bonus bet on England @ 4.90
Return of $195 (minus the stake)

$117 normal bet on Australia @ 1.67
Return of $195

After taking away the $117 either results nets a profit of $78
This is around an extra 20-30% of the bonus bet itself.
Maybe I miscalculated, maths isn't my strong suit.

 

[Lensen]

well, yes, theoretically you can, but if you ever get a match where you can get 1.67 one side and 4.90 the other then you don't need bonus bets to make free money

 

[Anzac16]

Ok awesome
Just wondering is it possible to do this and actually make a profit greater than the bonus bet?
I was messing around with the calculator and came up with this.

Example:

$50 bonus bet on England @ 4.90
Return of $195 (minus the stake)

$117 normal bet on Australia @ 1.67
Return of $195

After taking away the $117 either results nets a profit of $78
This is around 130% of the bonus bet itself.
Maybe I miscalculated, maths isn't my strong suit.

Well for starters you'll never get those kind of odds unless something changes drastically before the match. With those odds its an arb normally, not just with a bonus bet.

Realistically you could get more money back that is more than the bonus bet by getting really good odds from different agencies. Generally speaking though most people will arb the bonus bet by just finding the best odds for the favourite that you can on another bookie and then take the underdog with bonus bet.

 

[TheKanga]

Haha funny you all say that because those are the odds for Melb Victory vs. Wellington today.
Although with soccer there is three outcomes, I was just using those numbers to play with.

Thanks for the info, will do that with my bonus.
Something similar to the first example I guess.

 

[PuntingFanatic]

Victory good bet though I must check ins and outs for them. Seems high for a team of victorys stature and the fact they've owned them in melbourne.

Free bets are a trap. Turning over them once is fair enough, some make you do it 3+ times.

 

[TheKanga]

Anyone ever used Unibet and their bonus bets?

https://www.unibet.com.au/help/myaccount/bonuses/deposit-bonus
This seems a bit confusing to me...

 

[PuntingFanatic]

Anyone ever used Unibet and their bonus bets?

https://www.unibet.com.au/help/myaccount/bonuses/deposit-bonus
This seems a bit confusing to me...

I have mate. Basically it's up to 300 free bet, if you win You just have to bet the free bet again and say 300 dollars of your own if you put in that.

Example you put 300 on melb vic today and 300 free bet you'd have to bet 300 of your own again plus free bet winnings.

 

[TheKanga]

I have mate. Basically it's up to 300 free bet, if you win You just have to bet the free bet again and say 300 dollars of your own if you put in that.

Example you put 300 on melb vic today and 300 free bet you'd have to bet 300 of your own again plus free bet winnings.

Geez they require the value of the bonus to be turned over 4x
So in my case it would be around $500

 

[Jugada]

I have mate. Basically it's up to 300 free bet, if you win You just have to bet the free bet again and say 300 dollars of your own if you put in that.

Example you put 300 on melb vic today and 300 free bet you'd have to bet 300 of your own again plus free bet winnings.

Unibet is just a cash bonus like bet365 so you deposit $300, have $600 in your account and have to place $2400 worth of bets before withdrawing. Those ones are harder to just bonus whore and leave but its just like cash from the start.

They're ok to "arb" against other bookie free bets though to lock in a profit. Place a $300 free bet on team A with Luxbet then place $600 on team B with Unibet (if the numbers add up that way) then just hope the Luxbet side wins but if not you have turned over $600 worth already and just do that a couple more times with other bookie free bets and you will either get a win some where else or eventually just complete the turnover by betting against the free bets. Does that make sense?

 

[Jugada]

Sorry Unibet might only require $1200 turnover in that example not $2400

 

[PuntingFanatic]

yep 1200 jugada.

 

[Zealbee]

Anyone ever used Unibet and their bonus bets?

https://www.unibet.com.au/help/myaccount/bonuses/deposit-bonus
This seems a bit confusing to me...

Unibet sucks. One of the harder sites to get your bonus bet money out of.

 

[kickazz]

Unibet sucks. One of the harder sites to get your bonus bet money out of.

Yeah I have had to call them up a few times to get them to pay/refund....

 

[kickazz]

On OP, note that some sites make you turnover any deposit regardless of attached bonus or not. If you sooked hard enough you could probably get it back though.

 

[TheKanga]

Unibet sucks. One of the harder sites to get your bonus bet money out of.

Yeah not going to use them right now, seems like a trap to lose it all.

 

[d3ft]

If you're using free bets properly, betting on the long side of an arb, you shouldn't run into problems with turnover requirements as your winnings will more than likely be at another book.

Whatever you do, do not get caught not covering all possible outcomes of a match, such as in a 1X2 soccer market. There is heaps of information out there regarding arbing free bets and it is definitely not the scam it seems - just be careful and triple check your maths (and steer clear of tennis - too many different rules for forfeits etc).

 

[TheKanga]

If you're using free bets properly, betting on the long side of an arb, you shouldn't run into problems with turnover requirements as your winnings will more than likely be at another book.

Whatever you do, do not get caught not covering all possible outcomes of a match, such as in a 1X2 soccer market. There is heaps of information out there regarding arbing free bets and it is definitely not the scam it seems - just be careful and triple check your maths (and steer clear of tennis - too many different rules for forfeits etc).

Thanks for the advice, glad you mentioned that regarding Tennis.
As I was thinking about that and basketball might be good.
However I know nothing about the sports to be honest.

Had a good run with a $5 free bet I got for accepting emails from sportsbet tonight.
That's beer money for tomorrow.

 

[Jugada]

I wouldnt say steer clear of tennis, just check the rules are the same. Its not hard

 

[TheKanga]

Is there any old threads here regarding this subject I could read?