What are the different types of bookmaker promo?
The vast majority of bookmaker promotions fall into one of several categories. Understanding each type lets you spot opportunities quickly and know which Bonusbank tools and strategies apply.
Welcome bonuses
A welcome bonus is an offer for new account holders. The most common format is a matched deposit: deposit $100 and receive $100 in bonus bets. These are almost always SNR (Stake Not Returned), meaning if your bonus bet wins, only the winnings are returned, not the original stake amount. A $100 SNR bonus bet at odds of 4.00 pays $300, not $400.
Some bookies instead offer to match your first cash bet. In that case, you place a qualifying SR bet first to trigger the bonus, then convert the bonus bets using the SNR setting on the calculator and the SNR column on the ATM.
Deposit bonuses
Identical to welcome bonuses but offered to existing account holders, often when their balance drops to zero. Can sometime be requested via LiveChat before making a deposit.
Free cracks (refund on lose)
A free crack pays you a bonus bet whenever your selection loses, with no condition attached. Because you receive a bonus whenever your bet loses, these promos have very high expected value. Even without laying at all, the most you can lose is the difference between your stake and your bonus bet retention rate, typically around 20%. Free cracks are among the most valuable promos in matched betting.
Conditional refunds
Conditional refunds pay a bonus bet if your bet loses and a specific condition is met. Common examples:
- Your team leads at half-time but loses the match
- Your team scores the first try but loses
- Your horse finishes 2nd or 3rd
Because the bet needs to lose to trigger the refund, expected value is usually higher when backing the underdog. The standard approach is to back and lay using the matched betting calculator, then wait for the result. If the condition triggers, you convert the bonus bet separately.
Racing refunds
Racing refund promos are a form of conditional refund, but they run at such volume that they deserve their own category. The most common version refunds your stake as a bonus bet if your horse finishes 2nd or 3rd. Some bookies extend this to 4th or 5th; others restrict it to 2nd only. On a typical Saturday, 20 or more bookies are running racing refund promos simultaneously across multiple race meetings. This is where most long-term Bonusbank members generate the bulk of their weekly profits. HorsePower is the tool designed specifically for racing refunds.
Odds boosts (enhanced prices)
An odds boost is when a bookie offers higher odds on a specific selection than the current market. If the boosted price exceeds the lay odds on Betfair (after accounting for commission), you can lock in a guaranteed profit by backing at the bookie and laying at Betfair.
Bookies also offer boost products under various names (Bet Boost, PowerPlay, SuperPick) that let you apply enhanced odds to a selection of your choosing. These can typically be used once per day and often have a maximum stake.
Enhanced odds are shared in the #boosts-starboard Discord channel as members find them. The #boost-maths channel covers whether specific boosts represent genuine value.
Profit boosts
A profit boost increases your winnings if the bet wins, rather than boosting the odds directly. A "double your winnings" offer on a bet winning $50 would pay $100 instead. The mechanic is the same as an enhanced price: use the Extra Profit calculator to work out the correct lay stake and lock in a guaranteed return.
Conditional profit boosts add an extra requirement: your bet must win and a specific condition must be met. Because you cannot guarantee both the win and the condition, these cannot be locked in the way an unconditional boost can. The standard approach is to back and lay and hope the condition triggers.
Early payout promos
An early payout promo settles your bet as a winner if a specific in-game event occurs, regardless of the final result. Common examples: your team scores 2 goals ahead in soccer, leads at three-quarter time in AFL, or scores a try in the first five minutes of an NRL game.
The value in early payouts is significant. If the early payout triggers and your team then fails to win, you collect on both sides of the matched bet, a double payout. Early payout promos often have no cap or a very high cap on the amount paid out, which amplifies this value.
The Bonusbank 2UP software identifies the best selections for the Bet365 2up early payout promo.
Multi promos (H2H and SGM)
Multi promos reward you for betting on multiple selections combined into a single bet. The most common structure is a refund if exactly one leg fails. There are two main formats:
Head-to-Head (H2H) multis combine bets on separate games. The Multi-Matcher tool identifies the best leg selections and strategies, including no-lay, lay at the start, and sequential lay approaches.
Same Game Multis (SGMs) combine multiple bets on the same event. SGM promos are common and can be very profitable. The 3-leg version is the priority, with consistently strong expected value. The SGM Finder tool helps identify the best value legs for any game and bookie.
SGM Insurance reduces variance by placing small additional multis at other bookies to cover the two outcomes that would result in a full loss.
Enhanced odds multis
Some bookies offer pre-selected multis at inflated odds. These do not always represent genuine value. To check, multiply the Betfair lay odds of each leg together to get the true combined odds. If the enhanced price is below that figure, there is no value in the promo. When genuine value does exist, sequential laying (if games are on different days) or value betting are the two main approaches.
Where to find current promos
All active promos are listed in the Bonusbank Promo Database, accessible from the main menu. The Sports Promos page covers AFL, NRL, soccer, basketball, and other sports. The Racing Promos page covers horse and greyhound racing. Both are updated regularly by the team.