Welcome to OzProfit’s comprehensive, independent bonusbank review.
Matched betting can be a confusing and difficult topic to navigate at first. Here at OzProfit, my mission is to make matched betting accessible to Australian’s across the country. By providing a comprehensive set of guides and simple tutorials, I hope to introduce people to the potential matched betting has.
Using free tutorials can be a great start to your matched betting journey. However, to make a significant long term profit you really need to use matched betting tools. These tools are designed to help you find the optimum bets (increasing profit) in the easiest possible way (reducing time spent).
Bonusbank is an Australian matched betting service offering a comprehensive set of matched betting tools backed up by detailed tutorials and an active community.
This review will cover all the different features available with bonusbank and whether the service really can help you supercharge your matched betting profits.
Disclaimer: I am an active subscriber to bonusbank and use their service on a daily basis to place my own matched bets. Links in this bonusbank review are affiliate links. You get the same price when subscribing and I receive a small percentage of their revenue. I am 100% honest in my reviews although please make up your own mind for purchasing decisions.
Table of Contents
Who are Bonusbank?
Bonusbank was started in 2017 by two friends Nico and David. They grew up together in Scotland but have since moved/travelled around the world, primarily on profits made from matched betting!
Nico is now based in Nicaragua making a full time living from matched betting profits, whilst David lives in Sydney after moving here in 2005.
They both discovered matched betting while it was still a relatively new thing in the UK, the same as I did. So, they have over 20 years of matched betting experience between them.
For years, Australia has lagged behind the UK on matched betting tools. This has historically made it tough to make long term profits, however this is exactly what Nico and David set out to change when they founded bonusbank in 2017.
Features
I’m going to share with you all the key features of bonusbank, including their limitations, and how these can have a significant impact on your matched betting.
Some of these features relate to quite advanced matched betting techniques that I don’t cover on this site. However, this review should give you a sense of what’s possible!
Here’s a brief feature overview of the features discussed in this bonusbank review:
- Tutorials – 12 courses, 100s of pages containing text-based guides plus plenty of video explanations.
- Calculators – Let straightforward tools do all the hard work for you.
- OddsMatcher – Easily compare odds between all major bookmakers and Betfair.
- Daily Promos – Easily scan every bookmaker offer to plan out your betting.
- HorsePower – Streamline your betting on Racing events.
- Promos and Plays – Recommended bets that make a long term profit (used to be ‘Todays Plays’).
- Discord Community – Connect with other active matched bettors and get advice from experienced mentors.
Bonusbank makes the process of matched betting quicker, simpler and more profitable. They provide useful tools for identifying the best bets, along with a large community of members who can help you whenever you get stuck. They're comfortably Australia's best matched betting service.
Features
- Easy to use oddsmatcher tool for bet finding.
- Detailed guides for beginners & advanced matched bettors.
- Incredibly active members-only Discord community.
- Numerous useful calculators.
Tutorials
Bonusbank host 12 courses available to all members, each containing 5 – 20 individual pages of matched betting gold. These courses cover everything you need to know when building a fundamental understanding of matched betting.
They’re also extremely useful for experienced matched bettors, covering advanced techniques and opportunities. Here’s the list of all 12 courses (grouping mine):
- Foundational Courses
- Matched Betting Basics (Available with a Free account)
- Matched Betting 201
- Account Sustainability
- Understanding Betfair
- Horse Racing
- Vocabulary
- Advanced Courses
- Multis
- Promo Strategies
- Non-Promo Strategies
- How To Use Bonusbank
- Using This Discord Server (Available with a Free account)
- Calculators (Available with a Free account)
- Bonusbank Features
These tutorials do a good job of explaining the concepts of matched betting and cover all the necessary topics. There are plenty of worked examples, and they dive into all of the nuance / edge cases to be aware of.
As most of the courses are non-linear, you can run through them in any order and at your own pace, tracking completion are you go. It helps that they are always available as reference guides whenever you might need them.
In my opinion, I think they could do a better job of reinforcing the lessons, perhaps through quizzes or more detailed examples. Also, they do tend to be quite text-heavy which is difficult if you’re a visual learner.
Fortunately, they do have some fantastic (and freely available) videos on Youtube providing guides on various matched betting strategies. There’s also a knowledge base for subscribers that covers 120+ of the main beginner questions.
Where bonusbank excels is when explaining how to use their own tools, with some very thorough and valuable guides on how to make the most of every bonusbank feature. You won’t find it too difficult to pick up the different ways of profiting using bonusbank.
There are some fantastic free matched betting resources available (I’m biased, but I think our guides are quite good) with hundreds of guides available with a quick google search. However, the courses that bonusbank have built are more comprehensive than anything you’ll find for free.
For beginners, they’re the best courses I’ve seen for learning matched betting.
Calculators
The bonusbank team have developed a quite impressive array of calculators that cover every single matched betting scenario I can think of. Not only have they covered all scenarios, but they’ve also done it whilst keeping each tool very user-friendly and easy to use.
Let me list out all the calculators they’ve built, before sharing some of my favourites:
- Back/Lay (Simple & Advanced)
- Dutching
- Double Lay
- Extra Profit
- Early Payout
- Multi’s (Multi-Matchers, Multi Promo, SGM Insurance, SNR Multi)
- Horse Racing (2nd/3rd Lock-In, Backup)
- EV Calculator (Back/Lay, Dutching)
- True Odds
- Combined Odds
Including all variations, that’s 16 different calculators.
I love their Dutching calculator, which allows you to test out multiple different scenarios and easily understand the impact of any changes. You can quickly see how to ‘equalise’ your position, and copy a table with all your bets on into excel format. There’s also a really useful feature to generate a shareable link directly to the values you’ve entered.
There’s also a really smart Multi Promo calculator, designed to handle offers where 1 leg of a multi fails (or a multi boost). This one’s a bit more complicated, but you can see what happens across a 3, 4, or 5-leg multi bet when you want to lay each leg of the multi sequentially.
All of the mechanics are calculated automatically, spitting out recommended lay odds for each leg of the bet. Multi bets becoming exceptionally popular in Australia, so bookmakers are pushing some incredible offers that create long-term profit opportunities.
Some of the calculators get very heavy on data entry, with lots of different parameters that can be shifted. That’s part of bonusbank catering for both beginners (simple versions) and advanced matched bettors who are applying more complicated strategies.
Overall, they have everything you might need from a calculator perspective. However, these tools are static. They don’t pull in live data, unlike the next tools I’ll share with you.
Oddsmatcher – Bonusbank ATM
This is the primary software that will have a massive impact on your matched betting.
The ATM is a big odds analyser that works in your browser, pulling into thousands of live prices from across 20 different bookies with a Premium subscription (plus Betfair). Upgrade to Premium+ and it can handle over 50 bookmakers.
Don’t worry, they don’t hide the main bookie behind a Premium+ subscription. All the most popular bookies are available as part of a standard Premium membership.
The software is able to search all open sports betting markets and automatically present the closest matches available for you to bet on right now. Pretty magic.
I’m going to share a (secret, shh!) screenshot of the ATM for a $50 free bet I earned at Ladbrokes.
Now, I could have spent 20 minutes finding all these different matches themselves and still not been sure that I had the best match. Also, I could have taken the match on the Brentford vs Luton match. If I had, I’d have been leaving $2.31 on the table for no good reason. That’s the benefit of using an oddsmatcher.
Clicking on the ‘back’ or ‘lay’ buttons will take you to the bookie’s market or betfair market respectively. Alternatively, clicking on the Stake Returned or Stake Not Returned columns will open up a simple calculator so you can see what happens if the odds shift. Two fantastic usability features.
Whilst all matched betting services will offer an oddsmatcher, bonusbank’s service is a good one because it covers all of the major bookmakers you need. The filters also work really well, allowing you to easily navigate down to just the matches you need. Plus, being able to save your settings is really helpful when you only have access to a couple of bookmakers.
I used to criticise their ATM because its design looked like a mid-2000s excel spreadsheet, but in recent years they’ve uplifted the design and I must admit it looks great. They’ve used colours cleverly so any information you need is available at a glance.
Now, here’s the best feature bonusbank have for their oddsmatcher.
ATM Alerts
In the oddsmatcher example above, I was getting a great opportunity about 80% return on my free bet. This is an excellent return, but the odds are quite high. We would need to tie up $531 at Betfair until the end of the event. With a small bankroll, that could be a major problem.
If we wanted to find a good opportunity at lower odds, we could sit and watch the oddsmatcher all day until the right bet popped up.
The better way is to use ATM Alerts, an extension for the Google Chrome browser. This extension allows you to set up some criteria then it will notify you whenever there’s a match that meets those criteria. Here’s what it looks like:
As you can see, there are plenty of different settings. It’s very easy to set a minimum return on your SNR bet and/or minimum odds that the alerts extension will need to beat. Once a match meets your criteria, you’ll get a popup on your computer that looks a little like this:
This feature is incredibly powerful for making the most of your new account offers or getting the most of your ongoing free bets.
There are, however, some drawbacks with the ATM Alerts tool. Firstly, it’s only available on a desktop/laptop running google chrome. Whilst I know this is a common setup, it does mean that you can’t use this tool on mobile and would have to rely on the oddsmatcher alone. Secondly, you can only set up one alert at any time which may be a limitation if you’re matched betting both qualifiers / free bets with multiple bookies at the same time.
Finally, I’m always worried that the tool won’t send the alerts so I find myself checking on a regular basis anyway – I should probably stop because it’s never failed me yet.
HorsePower
Matched betting on Horse Racing is a bit different to betting on any other sports. Whereas you would normally find good liquidity hours before a sports event, it’s often you’ll only find money in the market from about 10-15 minutes before a race. Then the volume of bets starts shifting very quickly in the few minutes leading up to the start (associated with prices shifting as well).
That means the oddsmatcher is just too slow to provide useful insight into betting on Horse Racing.
Enter HorsePower.
HorsePower is similar to ATM Alerts in that it’s a Chrome Browser extension that you download from bonusbank. However, this time it loads up a fresh page and allows you to select the race time / bookmakers you want to see odds for. The tool then automatically opens up each bookmaker and Betfair in their own tabs. Let’s see how that looks:
On the left, you can see all of the upcoming races, and I can choose to open each bookmaker manually or have HorsePower open them to the right market automatically when I load the race. Impressive. There’s even a planner feature that will open up specific bookmakers you choose based on the promotions available on each race.
You can see that I’ve loaded up the comparison for Race 6 at Sunshine Coast, with odds from BetM, Realbookie, Bet365 and MintBet. I can easily filter results by my %return on SR or SNR bets plus any minimum or maximum odds.
HorsePower updates every few seconds, matching the changes made on each bookmaker site you have open. With this running, it becomes far easier to identify which horses are providing great opportunities for finding bonus offers.
Warning: As mentioned, odds in Horse Racing can move very quickly. This can work both in your favour and against you. This means you should have a good knowledge of how matched bets work, with the ability to quickly change your stakes, before you start matched betting on Horse Racing. However, this can be very profitable so I always recommend beginners start slow and take on more offers over a few weeks.
It definitely took me a bit of ‘getting used to’ when I started using HorsePower but it quickly shows itself to be a very powerful tool. It allows me to focus my time on the right horses with the right bookies during the hectic few minutes before a race. This tool alone easily earns me enough to pay off the bonusbank subscription fee a few times over.
As with everything, life isn’t always perfect. Like the ATM Alerts, it’s limited to being used on a computer with Google Chrome installed so mobile users don’t get the benefit. The reliance on having each bookmaker tab open (albeit automated) can be frustrating at times.
Finally, the update rate isn’t quite able to keep up with the speed that odds are moving. It’s not unusual to see a great opportunity in HorsePower and navigate to the bookie to find the price has already changed. I’ll defend the bonusbank team here and realise that it would be very demanding on your browser for them to be calling new odds a few times every second.
Instead, HorsePower should be seen as a fantastic guide to which bookies/horses are at attractive odds for you to focus on.
Promos and Plays
From April 2017 to February 2023, Bonusbank posted a feature called ‘Todays Plays’ on their website. It features a single ‘basket’ of guided bets that would take advantage of that days sports promotions.
It was a simple and accessible way for beginners to learn how to combine sports offers for higher profits. In fact, just following the daily recommended plays would have led to nearly $50,000 profit in just under 6 years.
Just look at this profit graph, which is fully public so you can see exactly how it works.
Now, whilst they may have stopped officially posting a ‘play’ every day on the Bonusbank site, they are absolutely posting regular plays on their Discord community. These follow the same pattern and style of the original ‘Todays Plays’.
The idea with these offers is to ‘Dutch’ bookmakers against each other and therefore avoid exchange commission fees. Then, we’re looking to trigger lucrative bonuses through bookmaker offers. Most of the time these focus on NRL, AFL and NBA games although they do cover over sports where there are profitable offers.
Here’s an example of a recommend play on Discord:
As you can see, if any of those bonuses get triggered it’s quite a significant payday. However, if none of them are triggered we take a relatively small loss. This is exactly the core concept of Expected Value and why you need to follow these offers regularly.
The beauty of bonusbank’s regular ‘Promos and Plays’ is that you can place these bets with very little additional thought. All the calculations and permutations have been considered for you.
There aren’t many easier ways to make nearly $10k a year.
Discord Community
In this bonusbank review, I’ve saved the best feature until last. The most important and impactful aspect of subscribing to bonusbank is access to their extremely active and supportive community of members.
If you’re not familiar with Discord, it’s a ‘modern’ online forum centered around real-time conversations. Bonusbank have built out one of the best Discord servers I’ve ever been a part of, providing loads of useful features to members.
I’ll quickly name a few of my favourite channels:
- Newbie Questions – Ask a question here and it’ll be answered either by Nico, or one of the many other helpful members. Normally within just a few minutes.
- Bookie Info – A crowdsourced list of the latest ‘new account’ promotions.
- Sustainability– Group discussions on how best to maintain your betting accounts.
- Starboard – A channel displaying only messages that multiple people have flagged as ‘helpful’. across the whole server.
With 42+ channels all in regular use, bonusbank have cultivated an incredibly active and supportive community.
The only downside is that it’s almost too active. At first, it can be overwhelming trying to understand where everything is. Keeping up with chats on every channel can be overwhelming, so you have to focus your attention on the channels most relevant to you at the time.
You can also set up alerts for certain channels / posts, helping make sure you don’t miss any opportunities.
Subscription Cost
All the tools and features I’ve discussed sadly don’t come free, although I fully believe that they pay back the subscription fee very handsomely as long as you’re actively making money from matched betting.
Free Tier – Bonusbank very kindly offer a free member account where you can access a lite version of their ATM oddsmatcher with Ladbrokes and TAB, the Matched Betting Basics course and limited access to the Discord community. Even if you’re not convinced or don’t want to pay for bonusbank, it’s well worth opening a free account.
Monthly Cost (Premium) – $59. This grants you access to all the core Bonusbank features, in a package that’s perfect for beginners.
- All matched betting courses / training.
- OddsMatcher software with data from the 20 most profitable bookmakers and most common markets.
- HorsePower for finding incredible horse racking opportunities.
- Dutching software
- Full access to the Discord community.
- A fantastic database of available promotions.
You can sign up for a paid subscription here. Get 25% off your first month with the code OZPROFIT.
Monthly Cost (Premium+) – $99. An extra $40 a month gets you access to another 30 bookmakers, taking your total to over 50. Yo’ll also get:
- Access to the full range of markets, sports, and leagues.
- Greyhound races on the HorsePower software.
- Bore Draw offer finder.
Monthly Cost (Pro) – $149. This is the top tier of BonusBank access and is only useful for people who are willing to go ‘beyond the obvious’ to search out new profitable opportunities. This tier includes:
- Line, totals, and player prop markets for dutching.
- Middles
- Cross-market arbs.
Bonusbank also offer the ability to buy a 6-month or 12-month membership for each of their packages. These have the opportunity to save you huge amounts of money although I would recommend that beginners always start on the monthly plan. Here’s how those plans work out:
| BonusBank Plan | Monthly | 6-Month | Annual |
| Premium | $59 | $299 (Save $55) | $499 (Save $209) |
| Premium+ | $99 | $499 (Save $95) | $799 (Save $389) |
| Pro | $149 | $749 (Save $145) | $1249 (Save $539) |
If you enjoy matched betting and want to commit yourself to making long term profits, then getting a 6/12 month membership is a fantastic deal. In fact, my recommendation to maximise your long-term earnings is to start on the Monthly plan, then jump up to the annual plan using your first profits.
How much can you profit with Bonusbank?
This is almost impossible to answer, because it really depends on how much time and effort you want to put in to matched betting.
Based on my experience, these are an average set of figures that should be achievable by everyone for a weekly profit not including any new member bonuses that are hugely profitable:
- Promos and Plays – $150
- HorsePower – $150
- Multi’s – $50
Weekly Total – $350
Monthly Total – +$1400
That really makes the $59 monthly subscription fee seem particularly small. I also know there are bonusbank subscribers making far more than that every month through very clever strategies.
Final Thoughts
It’s been a bit of a marathon run-through of bonusbank, with plenty of features to discuss. I hope you’ve found this review insightful and it leaves you with an enhanced knowledge of why matched betting tools are important.
Bonusbank has become an incredibly polished and user-friendly suite of matched betting tools, suitable for both total beginners and advanced matched bettors. The learning curve might be steep, but bonusbank has everything you could possibly want to maximise profits from matched betting.
There are two things that are the most important to consider:
- Bonusbank is very welcoming to beginners and offer a huge amount of resources to help you get started.
- Having access to an active, supportive community is a game-changer. Nothing else could possibly help you more than seeing other people making money from matched betting in real time.
If you’re a complete beginner, I highly recommend subscribing to bonusbank for access to the community and to help you make the most of the very profitable new account offers.
If you’ve been matched betting a while, then you need to be taking advantage of all the ongoing offers. Using the tools available in bonusbank can save you hours of time every week. I value my own time quite highly which is why I value the bonusbank service very highly.
Bonusbank makes the process of matched betting quicker, simpler and more profitable. They provide useful tools for identifying the best bets, along with a large community of members who can help you whenever you get stuck. They're comfortably Australia's best matched betting service.
Features
- Easy to use oddsmatcher tool for bet finding.
- Detailed guides for beginners & advanced matched bettors.
- Incredibly active members-only Discord community.
- Numerous useful calculators.
Bonusbank Review
Discover bonusbank features and see whether it's a service worth paying for in this honest review from a matched betting expert. How much profit could YOU make?
4.5
Hi, I get the concepts you are proposing and am interested in subscribing. I live in Sydney and I have 2 questions . 1. How long before the bookies stop me ? and 2.s it possible to make enough to give up the day job ? e,g, 10k per month….Most of the examples i see are 1k \month ish …Can i simply enlarge my stake to make 10k \month ??
1. How long’s a piece of string?! The bookies are incentivised to prevent matched bettors because we are always searching for value bets (as close to the real odds as possible). Unlike regular gamblers, we aren’t willing to take terrible odds. That means we simply aren’t very profitable in the long term. However, there are steps you can take to reduce this risk. I wrote a post about 20 methods to prevent gubbing, with Bonusbank having a few more specific recommendations based on individual bookies.
I always see it as a long-term or short-term venture. If short-term, hammer them for as much profit as you can and they’ll ban you quick. If long-term, look after your account and you’ll probably make it last years and make more profit but it’ll take longer.
2. For most people, honestly it’ll never replace your day job (especially in an expensive city like Sydney). $1k a month is reasonable for relatively minimal effort. Pushing it to $2k+ a month can definitely be done. A few matched bettors use advanced techniques and can clear $100k+ a year (tax free!) but it becomes a full time obsession, it’s certainly not a ‘get rich quick’ scheme.
You often can’t just increase your stakes because bookie offers are aimed at your average punter putting on $25 and $50 bets. There’s no ‘one size fits all’ approach here, but it wouldn’t be unreasonable to start slow and build up. If you’re the kind of person who would be very good at applying advanced techniques and putting many hours of effort in, all credit to you. It can certainly be lucrative.
Keen to hear more on your opinions regarding the middle’s and how effective the software is at finding them daily?
I find that Middle’s are useful as part of a wider portfolio of MB activities. On their own, they can quickly get accounts flagged. You also need to play with high bet values, and high volume of bets to make any significant profits which isn’t a good idea for beginners.
That being said, I found Bonusbank very good at finding these opportunities when they do exist. If you’ve progressed to advanced strategies and have a sizeable bankroll, there’s definitely good money to be made.