If there is anything you must understand when Matched Betting it’s that bookmakers DO NOT want you to take money from them. This is why reading the T&C’s is so important and here we will run through some of the key things to look out for.
Once we have found the Signup bonus we are hoping to complete, we first need to look out for the small print and see what they expect from us.
Above you can see the Bet365 banner for their Signup bonus in which they will offer you a £100 bonus if you wager £100 in bets.
By only looking at this page, we would think that Bet365 will give you a £100 bonus no matter what. If only…
At the bottom of the banner(circled), we can see the small print in which they layout some of the rules you have to follow to profit.
The rules include Minimum odds, Payment method exclusions and time limits. All three of these are very important for you to know, so we need to delve deeper into the specific details of a typical signup bonus.
The bookmaker will require your bets to be above the minimum odds required.
Above you can see the difference in the minimum odds from two popular bookmakers Bet365 & Sky Bet. Bet365(top) require 1.2 minimum odds for you to release your bonus, whereas Sky Bet have much higher minimum odds at 2.0(below - 1/1 = 2.0).
This difference of 0.8 is HUGE in sports betting as the higher the odds, the less bets that available for us. If you were to complete these two signup bonuses from Bet365 and Sky Bet, you will quickly realise that it is much easier to find a bet on Bet365 with their lower odds, then it is for Sky Bet.
Yes and No. There isn’t an industry standard of minimum odds for signup bonuses, but we chose these two bookmakers because the odds tend to be between 1.2-2.0, with the average coming in at 1.5.
Here at Oddshero we have over 60 different bookmakers available to profit from, so please make sure you know exactly what odds the bookmakers requires for each signup bonus.
Payment methods exclusions are when the bookmakers refuse to accept certain methods of payments when putting money into your account.
These certain payment methods are almost always E-Wallets.
E-Wallets are extremely popular in the world of sports betting as they offer many advantages over regular debit/credit cards .
To stop people like you and me.
Bookmakers are aware of people taking advantage of their signup bonuses and they try to limit this as much as they can. If they allowed people to use an E-Wallet when signing up, somebody could complete multiple signups in a short period of time.
They allow E-Wallets on their platform once you have signed up, however, they will not let you take part in their signup bonus if you do.
We recommend you to use an E-Wallet after completing the signup bonus .
As we are trying to profit off of the signup bonuses, you must always check which payment method they allow you to use. Again, like the difference in minimum odds, bookmakers will allow/ban specific payment methods.
To encourage punters to gamble frequently, bookmakers will give you a time period to wager the specific amount before the bonus is removed.
If you do not place the required amount and the bonus is still open before the time runs out then you will NOT profit.
The industry standard for completing the bonus is typically 30 days(see above - Bet365).
The time limit should never be a concern when completing the signup bonus as you should comfortably place enough bets in a fraction of the time.
However, it is important that you keep this in the back of your mind to avoid losing out.
Once you have deposited the money and have been given your bonus, you need to know how many times you have to bet the deposit amount before you can withdraw the profits.
This is known as the turnover requirement or wagering requirement.
Above you can see that Bet365 expects us to turnover the £100 bonus with a total stake value equal or more than the bonus amount. As the bonus amount is £100, our wagering requirement is also £100.
This puts our turnover requirement as 1x.
100/100 = 1
A 1x turnover requirement is very generous and not all bookmakers will offer this. Some bookmakers expect you to wager your bonus multiple times before the cash becomes withdrawable.
Here you can see that the bookmaker(Coolbet) pictured above, requires you to turnover the bonus SIX times. The bonus is €100* for new customers.
This means the wagering requirement would be €100 x 6 = €600.
If we compare this to the Bet365 signup bonus then we have to place €500 more in bets with Coolbet then we do with Bet365.
Also you can see that their minimums odds are higher at 1.50.
You may think that €600 worth of bets sounds extreme, but we can assure you that due to the techniques of Matched Betting, it doesn’t matter how many times we have to turnover the bonus, we will STILL profit.
*Norweigan customers receive 2000NOK(€200) bonus.
We have now ran you through the most important parts of a bookmakers T&C's for their signup bonuses, but it is advised that you FULLY read each one before beginning.
So you now know what to look out for when signing up to bookmakers, it’s time to start earning!
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