For all our arbitrage traders out there, bonus bets are just free money waiting to be collected. Bonus scalping can be a great way to help familiarise yourself with arbitrage. Most bookmakers offer a sign up bonus, take advantage of it. While the Betfair bonus bet is a good one almost every bookmaker other bookmaker will have a sign up bonus. The hardest part is keeping up to date as the promotions are always changing. We recommend the use of Best Bookie Bonus for keeping up to date with the latest bonuses on offer. They even have a section for Australia punters which makes it easier for us.
If you are yet to read all of our lessons in how to arbitrage, head over and check them out. Lesson 215 is all about bonus scalping but we’ll re-cover this information here. In order to lure punters in, bookmakers offer bonus bets. For Australians these are generally pretty high and generally easy to turn into real cash. We have seen bonuses up to $1000! Using arbitrage trading you will be able to turn these bonuses into real cash. On average you’ll be able to convert 75% of the bonus offered. This is definitely the easiest and fastest way to growing your bankroll.
Through Australian bookmakers alone you should be able to pocket over $2,000 easily.
How? Below we break down the scalping concept into five steps.
- Read very carefully through the terms and conditions – look if you are eligible, how many times does it need to be turned over, events it can be used on and at what odds.
- Claim the sign-up offer from the bookmaker – most of the time the bonus needs to be claimed when you register your account, enter the promotional code and make your deposit. Again read all the terms and conditions carefully.
- Use your arbitrage alert service to find an arb- For bonuses you don’t need to look for good arbitrage opportunities, even a small loss will be fine, 1% will work as you are not spending your own money. Using an alert service will help but you can search for events manually too.
- Place your bonus bet on Team A
- Place an offsetting cash bet on Team B – This is how you turn the bonus into cash. Most punters take the free bet and risk it by placing it on one team. By calculating a corresponding and offsetting bet on the opposite team with a different bookmaker you are guaranteeing yourself a win.
- Repeat 3-5 until your roll over requirements are met.
- Move onto the next bonus and watch your bankroll grow!
Who are Betfair?
Listed on the London stock exchange until early 2016 when Betfair merged with Paddy Power. They are one of the worlds biggest sports betting exchanges. You will be wagering bets against fellow punters as opposed to the bookmaker itself.
Betfair Bonus Bet
As Betfair are a betting exchange, promotional sign up bonuses are scarce and changing. The bonus bets offered to Australians are next to none. They did offer a cash refund for global users up to $20. It is 100% matched on your first bet up to $20 where you are refunded the $20 if your bet loses.
– Firstly you need to set up an account (you cannot be an old customer and claim this bonus).
– You must place a minimum $20 bet within 7 days of registering. Your bet must settle in this period too
– If your bet loses you will be credited up to $20 in a cash refund within 72 hours of your qualifying bet being settled.
Overall the Betfair bonus bet is a tricky one to promote. As they are a betting exchange the promotions are always changing, coming and going. If you want some serious bang for your sign up bonus buck then head over to best bookie bonus and make your way through the list.