For anyone looking to start or continue their matched betting journey, signing up to a matched betting service is a no-brainer. Having access to software that automatically identifies the best matched betting opportunities gives you such an incredible advantage that the monthly fees easily pay for themselves.
Australia has two awesome matched betting services – Bonusbank and Bonus Money. Having used both of them, I can comfortably say that they’ll both deliver huge value and allow you to earn great profits through matched betting.
However, it’s only reasonable to ask… which one is best?
To find out, I’ve come up with 6 categories to compare them with. These categories encompass everything you’d want your matched betting service to provide, giving you a huge profits boost.
Our key comparison areas are:
- Guides and Tutorials
- Offer Calendar
- Odds Comparison
- Horse Racing
For each category, I’ll provide a rating out of 10 and elect a winner. Keep reading to find out who comes out on top of this ultimate comparison of bonusbank vs Bonus Money. See more detailed reviews of each service with my bonusbank review and Bonus Money review.
Guides & Tutorials
Matched betting can be incredibly simple to learn the basics, however there are plenty of more complex techniques that can improve your profits. I’m looking for the clearest guides that are easy to follow and take people from beginners to advanced matched bettors
Bonusbank host 18 beginner tutorials plus an additional 10 advanced tutorials. These cover all the important topics for learning matched betting, although they can be very text-heavy. The core basic tutorials are all available with a free account.
To complement the written tutorials, bonusbank also have a fantastic Youtube channel that has some of the best free educational content available in Australia.
All of this content means it’s very easy to learn all the different tools that bonusbank has available. There’s also comments sections on each tutorial that makes it easy to get any questions answered.
There’s room for improvement to make learning matched betting a more engaging and practical experience.
With 20+ different tutorials available, Bonus Money have a strong educational section of their site. Most guides are freely available, with only a few of the more advanced pages being blocked for paying users only. However, the structure of these can be quite confusing for beginners.
The more advanced paid tutorials cover techniques in more depth than I’ve ever seen elsewhere and will help you add more methods to being profitable.
There’s also a growing Youtube channel although the content is a little thin on the ground compared to bonusbank.
Once you’ve completed all the sign-up bonuses, attention turns to all the various ongoing offers available at different bookmakers. Being able to find these easily and make sure you’re not missing out on profit-making opportunities is incredibly important. Here, I’m looking for an accurate and detailed calendar that makes it easy to place daily bets.
Consisting of ‘Today’s Promos‘ and the ‘Daily Plays‘ it’s a simple and fairly manual calendar that bonusbank offer. This simplicity actually works very well, with the days offers being posted very early in the morning and grouped by sporting event. It’s very easy to quickly find all the available promotions each day.
The Daily Plays are a set of recommended bets posted up each day that have a very high expected value. These are proven to be profitable over a long period of time, however it’s fair to consider that following these strictly may flag your account for matched betting.
These features aren’t very flexible around any bookie accounts that might be restricted or you haven’t opened yet. So, you may need to do some digging/adjustments to pick out just the offers that you can qualify for.
Bonus Money have a powerful offer calendar that makes it incredibly easy to identify and track different offers available each day. With each offer having a clear expected value listed, it’s also easy to spot which offers you should focus on.
Where possible, the offer calendar even does all the complex calculations for you. This instantly provides stake suggestions for you to log on and place your bets in just a couple of minutes.
There’s also a very simple way of managing your settings so that the offer calendar only shows the bookmakers you currently have access to.
These features mean you need to find and place your own bets instead of being told what to do by a ‘daily play’. For most people, this is a really positive thing and gives you much more freedom on choosing the offers you want to tackle.
This is one of the most powerful offer calendars available anywhere in the world.
Winner: Bonus Money
This feature saves matched bettors the most amount of time and massively increases profit, particularly for welcome offers. Instead of trying to find good matches yourself, odds comparison software does that hard work for you and points out your best bets. Ideally, this software should make it as easy as possible to accurately find bets across a wide variety of bookmakers.
Bonusbank provide an OddsMatcher called the ‘ATM‘ and it’s a generally impressive piece of software. 20 bookmakers are available and the software checks a diverse range of different markets including Correct Score and HT/FT.
You get the ability to filter on any possible value and when you find a suitable matched bet, the ATM will provide you with a recommended stake and link to the Betfair Exchange market.
There’s also a useful ‘ATM Alerts‘ feature that runs in the background on your browser and alerts you when an opportunity appears that matches pre-set criteria (e.g 80% return on a bonus bet).
The OddsMatcher from Bonus Money feels like a slightly neglected part of their site. Whilst it pulls in odds from 23 different bookmakers, it’s limited to showing just Match Odds markets. This means it can be difficult to find good SNR bets to extract profit from your bonuses.
It’s understandable that this software is less developed, considering a majority of profits (long term) will come from the exceptional offer calendar without needing the OddsMatcher.
You’ll find all the various different filters you need, so it’s easy to narrow down the available options. This software is simply functional without being excellent.
Matched betting on Horse Racing needs a different approach to most sports, due to the nature of the fast-moving odds and last minute markets. The software needs to make it easy to place qualifying bets across all bookmakers in the most efficient way. The more +Expected Value bets you can place, the more likely you are to make significant profits.
HorsePower is the name for bonusbank’s Chrome browser extension that allows you to easily spot which bets will provide the best expected value. To start, the extension loads a simple screen with a list of the races still to be run that day.
From there, you can select the bookmakers you want to compare odds with (and whether you’re betting SR or SNR). Selecting a race automatically loads up each of those bookmakers (and the Betfair exchange) on your chosen race market.
The tab with HorsePower remains open and it displays a table that regularly updates based on the changing odds at each bookmaker. This very quickly allows you to identify where the closest matches are for each race, including their expected value.
By having a single tab that shows you the best odds across all your selected bookmakers, HorsePower makes it very easy to work with multiple bookmakers at the same time. This helps you place more positive expected value bets for each race.
Ideally, HorsePower would update a bit faster and it would be slightly easier to select the bookies you want, however these are minor complaints for a fantastic piece of software.
The Matcha from Bonus Money takes a slightly different approach to guiding users to the best expected value. Still a Chrome browser extension, Matcha instead loads a popup in the top right of your browser window.
For each race you want to target, you select from the full list of bookmakers and Matcha will automatically load them in tabs.
Once the bookmaker tabs have loaded, Matcha will provide a coloured graphic for each horse making it easy to spot which horses are good value based on current odds. This makes it very easy to quickly find which bets you should place.
Whilst the in-line graphics are a clever innovation, the lack of a central place to compare odds means that you have to switch between tabs constantly to find the right bets to place.
This workflow is perfect for beginners who might only place 1 or 2 bets each race, but it’s a painful workflow for more advanced matched bettors who are tracking odds at 5+ bookmakers to find the highers expected value.
The choice of which Horse Racing software you prefer will depend heavily on your own personal workflow and level of ability. I’m impressed by how Bonus Money’s ‘Matcha’ presents the information in a very clear and contextual way, however I believe this comes at the cost of efficiency for more advanced users. That’s why I personally lean towards using HorsePower from bonusbank and rate their software slightly higher.
Calculators are a basic component that most services offer for free, though often there are more advanced versions that serve two purposes. Firstly, to accommodate more complex offers and secondly, to help quickly resolve any issues with misplaced bets. I’m primarily comparing the range and ease of use for calculators across the two services.
Bonusbank offers a very strong lineup of calculators:
- Simple Back/Lay
- Advanced Back/Lay (with partial lay)
- 2 & 3 Way Dutching
- Extra Profit (for Profit Boost offers)
- Early Payout (for profit lock-in)
- Multimatcher – No Lay / Lay At Start
- Multi Promo (for refunds/profit bosts)
- SNR Multi Calculator
- Horse Racing 2nd/3rd (for profit lock-in)
- Horse Racing Neds Backup
- EV Calculator
This is definitely the most comprehensive suite of calculators available in Australia. Whilst some of them are quite niche to specific offers, they are incredibly helpful for applying strategies that lock in profit on all different offer types.
Bonus Money offers all the core calculators you’ll need for matched betting on a regular basis:
- Standard Back/Lay (with Advanced features)
- 2 & 3 Way Dutching
- Double Winnings
- Horse Racing 2nd/3rd (for profit lock-in)
- Horse Racing Neds Backup
- Each Way Arbitrage
- EV Calculator
In general, I have found the calculators to be well designed and easy to use. In particular, it’s very useful having the advanced feature of underlaying/overlaying within the standard back/lay calculator.
However, Bonus Money are missing a partial lay calculator as well as various calculators covering Multi promos. Whilst it’s relatively rare that you’ll need these, it’s a fairly glaring omission.
For a vast majority of matched bettors, just having the core back/lay calculators covers 90% of matched betting activity. In fact, using all the other pieces of software generally have the required odds/stakes built into the tool so you don’t even have to use the calculators. Unless you’re going to tackle some more niche offers, or want to apply lay strategies that lock-in a smaller profit then you won’t notice the difference between the two services.
Sometimes the only way of getting your head round a matched betting technique is to ask questions and check your thoughts with other matched bettors. Having a community of people alongside you can really help you learn quickly and give you more confidence. Ideally, a matched betting community should be active, full of interesting conversations and easy to use.
Bonusbank offer three community areas. Firstly, there is a free Facebook community although I have found that it’s relatively quiet despite having 1700 members.
Secondly, there is an excellent forum with a long history of detailed posts, guide and information. If you have a question, it’s very likely it’s been asked somewhere in this forum before. The bonusbank founders are very active in helping out with new threads.
Finally, there is a very active live chat feature where members can hang out.
Whilst this feature is quite limited functionally, I have found it to be very active and supportive. This is especially true during the most common matched betting times – evenings and weekends.
Bonus Money have invested a lot of time in building up a fantastic and lively community of users across two different areas. Firstly, there are both free and ‘pro’ Facebook communities. These are both incredibly active and provide a lot of support for members.
The pro group tends to discuss more complex strategies and you’ll find more people who can help answer questions. In comparison, the free group tends to focus on tackling some of the basic matched betting techniques.
Secondly, Bonus Money have just launched their new Forum initiative which is already proving to be a success with members. This was launched in July 2020 so I want to give it a few months to settle in before judging it properly.
The clear focus on growing a community on Facebook has worked incredibly well for Bonus Money and it provides a fantastic space for members to get support. There’s no shortage of activity and it helps you feel like part of a wider community all matched betting.
The new forum is well designed and has huge potential for continuing to develop their community around matched betting.
Winner: Bonus Money
Bonusbank bring a strong overall service with all the key features you need for matched betting.
They have a very strong OddsMatcher that helps easily identify good bets to place, particularly when you’re trying to get value out of bonus bets. I was primarily impressed by the wide range of markets available and the filtering ability.
The ‘Matcha‘ tool is an impressive piece of software to build into your Horse Racing routine, which creates very profitable Saturday afternoons as you can place lots of positive expected value bets very quickly.
Finally, they offer the widest range of manual calculators that make it easy to lock in profits across a wide range of different promotions.
Bonusbank were impressively consistent and didn’t score less than 7 across any category.
Bonus Money have been around the longest and have managed create a well-rounded service that focuses on enabling beginners and advanced users to maximise their profits.
The biggest advantage is their Offer Calendar that makes it incredibly easy to take advantage of positive expected value across a wide range of different sports. It becomes very simple for beginners to expand into more complex matched betting techniques.
Bonus Money’s community is also a huge advantage, with pro membership getting you access to a large, active community of matched bettors who will be able to answer any questions you might have. The addition of a community forum is a positive addition as well.
Whilst they may have scored slightly lower for their Horse Racing and Calculator software, these won’t have any negative profit impacts for a majority of matched bettors.
Bonusbank vs Bonus Money: The Cost
Having purposely avoided mentioning cost across my review, it’s now time to tackle the elephant in the room. It’s important to preface this by saying that both of these services will save you time and make you more profitable. If you’re looking to take up matched betting, it will be entirely frustrating and difficult to do it on your own without the supporting software. In that light, my personal opinion is that these services are an absolute bargain and I’m more than happy to pay my monthly fees.
$47 / month
6 Months = $225
12 Months = $400
$49 / month
6 Months = $294
12 Months (VIP) = $490
I currently have an offer agreed with bonusbank for you to get 25% off your first months subscription, making it just $35 to give their service a try. At that price, it’s a complete no-brainer. Just use code ‘OZPROFIT‘ when you sign up.
If you’re looking for the more community and beginner-focused services that Bonus Money provide, I don’t currently have any special offers. Their service is still incredible value for money and I highly recommend it for complete beginners to matched betting – their software will guide you to easy profits instantly.
I hope you found this comparison useful. Please feel free to chuck any comments, questions or queries in the comments section down below – I love to hear any success stories!