BonusBank Review: Best Matched Betting Site in Australia?

Are you interested in using BonusBank to get started with matched betting in Australia, but want an honest BonusBank review to help you figure out whether it’s right for you?

Well, you’re in luck, because in this comprehensive article, I will be taking a deep lock at their matched betting service to give you the definitive answer on whether it’s the best matched betting software in Australia!

Let's get straight into this BonusBank review!

How Much Money Can You Make With BonusBank?

If you are new to matched betting, you are probably wondering how much money you can really make with BonusBank. Will the money you make really justify the $59 monthly subscription fee?

Well, I have compiled the daily profit stats from the 12 months to the end of January 2020 (pre-COVID).

The graph below shows the cumulative profit you would get if you followed the BonusBank daily plays during this 12 month period.

As you can see, just by following the daily promotions from BonusBank, you could have earned a total of over $9,500 during this period. An annual subscription with BonusBank for the same period would have cost you $400.

Your net profit would be in the order of $9,000 over the year, or $750 per month!

Hopefully you can now see the huge potential that matched betting has to offer you!

What Are The Most Important Factors When Choosing Matched Betting Software?

Before we start looking at the pros and cons of BonusBank in this review, let’s take a quick look at the most important things we should consider when choosing a matched betting service.

BonusBank Review - How Does It Stack Up?

Considering the criteria we discussed earlier, BonusBank does quite well.

Here are the main pros and cons of BonusBank!

Matched Betting Tutorials

BonusBank has a ton of matched betting video tutorials to bring even someone who has never placed a bet in their life up to scratch with matched betting in no time at all.

They have 18 beginner tutorials in total, which cover a range of topics including:

• What is a betting exchange?
• How do you verify an account with a bookmaker?
• What are qualifier bets? What are bonus bets?
  

Any many, many more. The tutorials are detailed but concise, so you learn everything you need to know without loading your brain up with unnecessary details.

There are even some quiz questions to test and really cement the knowledge.

If you have finished the beginner tutorials but still have questions, there is a Knowledge Base packed full of information.

Promos

The bread and butter of any matched betting service is to provide you with a summary of all of the current bookmaker promotions and the expected value you can get from each one.

BonusBank updates their promos regularly, categorising them as either sports based or racing based.

Here’s an example of some of their promos.

I wish they would calculate the expected value for each of the daily promos and post it next to the offer as Bonus Money do. At a glance, you would be able to figure out if a promo is worth pursuing or not.

The ATM

The ATM is what BonusBank calls their odds matching software. This software compares the bookmakers odds for hundreds of matches against the equivalent lay odds at Betfair.

You will spend most of your time in BonusBank on The ATM, looking for the best value odds on which to place your qualifying or bonus bets to maximise profit.

The ATM automatically calculates your expected profit if you pursue a particular matched bet. The profit is based on either a qualifying bet with your stake returned, or a bonus bet with no stake returned.

One of the things I like most about The ATM is its clean and simple interface. Unlike other software, they don’t try to cram too much information onto each page.

At a glance, you can easily get an understanding of the bets on offer, and your expected profit from each one.

You can filter bets on The ATM by:

• Match start date
• Sport
• League
• Event
• Market
• Bookmaker
• Odds (Back & Lay)
• Betfair liquidity
• SR/SNR
  

These filters are excellent and afford you the flexibility to hone in on a very particular type of bet, if you wish.

I particularly like the ability to filter based on Betfair liquidity, this is a feature that I see missing in many other arbitrage and matched betting software. It ensures that you aren’t wasting your time with bets that have only a couple of dollars waiting to be matched on the market.

They also have tons of other tools to make money from sports betting, as seen below.

We'll take a look at the dutching / arbitrage betting software now.

Dutching Software

In addition to The ATM, BonusBank also comes with the only dutching (aka arbitrage betting) software for the Australian market! This comes at no additional cost, it is automatically included in your premium membership.

The dutching software compares the odds between bookmakers and notifies you if it finds an opportunity where you could back bets with both of them and profit regardless of the outcome.

The sport, match start time and relevant teams are displayed along with the bookmakers, associated odds and expected profit margin.

Note that this is different to regular matched betting as all bets are placed with bookmakers, there are no lays with Betfair here.

This is only recommended if your accounts have already been gubbed of promotions and you want to squeeze the remaining profit out of them.

Due to the fact that there are no sharp bookmakers left in Australia, the BonusBank dutching software doesn’t find too many arbitrage bets unfortunately.

Betting Calculators

The promotions offered by the bookmakers typically come with an array of confusing terms and conditions attached to them, often requiring you to turnover your bonus bets multiple times at certain odds, or jump through other hoops to access your sweet profits.

Thankfully, BonusBank have a total of 12 different calculators to cover a wide variety of situations. These range from standard back/lay calculators to a calculator specifically developed for a certain type of horse racing promotion by Neds!

The calculators can appear a little intimidating at first, but they come with explanatory tutorials and forum posts where you can ask any questions you may have.

Community

One of the best parts of BonusBank is their active community. Whether you are just getting started with matched betting or want some advice on advanced betting tactics, there are always helpful members out there who will chime in with advice and comments.

BonusBank founder Nico is also very active in the community. While their community used to be based on Facebook and in the live chat on their website, they have now moved to using Discord for their communication.

Here are some of the threads on their Discord channel.

Almost all of these channels are very active, with many of them getting dozens of messages every day. My experience is that everyone is very helpful and constructive in their advice, which is great to see.

Horsepower and 2UP Software

One thing that surprised me while doing this review of BonusBank, was that in addition to everything discussed above, BonusBank includes two extra pieces of software.

Horsepower is their Google Chrome extension which allows you to identify which horses have the greatest amount of value.

You can sort by expected value and then place your bets accordingly.

BonusBank’s 2UP software is designed for Bet365’s soccer promotion whereby they pay out early if your team leads by 2 goals at half time.

These two extra software are just icing on the already fantastic BonusBank cake.

BonusBank Bookmakers

BonusBank covers the following Australian bookmakers as part of their matched betting service.

BonusBank Sports

BonusBank covers the following sports:

Pricing

So, how much does BonusBank charge for all of the features we have outlined above?

Well, their standard package is $59 per month, which is pretty decent when you consider that their daily promos have up to $750/month in value (that’s without any sign up bonuses!).

If you have the money, you can also purchase 6 months or 1 year in advance for $250 or $450 respectively.

BonusBank offer a 1 month cooling off period on their 6 month plans, which gives you some peace of mind if you do decide to save money by going for a longer plan.

Coupon Code

Free Trial

BonusBank also have a free trial available if you want to give them a go before parting with your cold hard cash.

You get access to their introductory tutorials and a basic betting calculator to let you profit from your very first matched bet.

Once you see that it really does work, you can upgrade to a premium account and access everything BonusBank has to offer!

Don't have time to read the full review? Check out my video review instead.

BonusBank Review - Conclusion

Hopefully you can see from the comprehensive BonusBank review that I genuinely believe that they are the best matched betting service in Australia!

A library of incredibly useful tutorials and calculators, daily updated promos, a very active, friendly community, and an OddsMatcher and dutching software presented in a clean, crisp interface make this great value for only $59 per month.

Get started with Bonus Bank now and use the code ‘ARBACADEMY’ to get 25% off your first month!

I hope you have enjoyed this BonusBank review! If you have any questions about matched betting, please leave them in the comments below!

Disclaimer: This post may contain affiliate links. I will earn a commission if you choose to purchase a product or service after clicking on my link. This helps pay for the cost of running the website. You will not be disadvantaged in any way by using my links.