Start with an offer
Complete any qualifying bet to earn the bonus.
Matched Betting Australia
Matched Betting Australia: Turn Bonuses Into Cash
Find bonus conversions, compare what you keep and see the hedge stakes before you bet. WagerWise brings the tools and lessons together.
7 betting strategiesSports, racing, multis and bonuses.
99+ AUS bookmakersAcross the WagerWise platform.
Complete learning guideStep-by-step lessons and videos.
What is matched betting?
Matched betting pairs a bookmaker bet with an opposing bet to convert bonus value into cash. Meet the promotion’s conditions, then calculate the stakes so one side offsets the other. WagerWise’s software helps you find bonus conversions, match back and lay bets, and assess racing and deposit promotions.
See what you keep
Compare the conversion’s retention.
Work out the stakes
Include the bonus type and exchange commission.
Match both sides
Check the selection, prices and settlement rules.
Matched Betting
Software
See where to use your bonus, what to hedge and how much value the conversion retains. Try the tools during your 7-day free trial before paying for membership.
Bonus Bet Converter
See the bonus selection, opposing bet and stake sizes, with retention to compare how much bonus value you keep. The maths accounts for the bonus stake not being returned. Try your own odds in the free bonus bet calculator.
Open the bonus converterOdds Matcher
Bonus bet
Back odds 5.00$50.00
Back odds 5.00$50.00
Lay hedge
Lay odds 5.20 · 6% commission$38.91
Lay odds 5.20 · 6% commission$38.91
Calculated cash value≈ $36.58
Match a bookmaker back bet with a Betfair lay bet using Exchange Conversions. Factor in Betfair commission and lay liability, so you know what the exchange side requires.
Open exchange conversionsDeposit Offers
100% match up to $200
Your deposit$200
Bonus value$200
Check turnover, minimum odds and expiry before depositing.
Know what you need to do before you deposit. Review eligibility, turnover, minimum odds and expiry, then plan how you’ll convert the bonus value.
View deposit offersHorse Racing
Software
Put your racing bonuses to work with the back price, lay price and conversion retention in view.
RaceWise brings racing bonus conversion and Pay Back promotions together. Use your 7-day free trial to compare conversions by retention and work through the racing lessons.
New to the exchange? The Betfair racing lesson explains back and lay bets before you work through the racing strategies.
How Deposit
Bonuses Work
The deposit earns the bonus. The offer’s rules determine what you need to do with it.
Check what qualifies
Example: 100% match up to $200
A $200 eligible deposit earns $200 in bonus value. Check the cap, opt-in and payment method before depositing.
Meet the offer’s conditions
Know the turnover
Check whether a qualifying bet or further turnover is needed. Use eligible markets at the required odds before the offer expires.
Convert the bonus
Work out the cash value
The bonus itself isn’t withdrawable. Use the correct bonus type and hedge stakes to calculate the conversion and the value you retain.
Ongoing
Promotions
Deposit bonuses are one starting point. Multi bet-return offers and racing Pay Back promotions use bonus conversion too.
Multis with bet return
A multi offer can return a bonus bet when one eligible leg fails. Work out the value of that bonus alongside the multi’s price, leg requirements and refund cap.
For same game multis, account for linked selections rather than multiplying their probabilities as if they were independent.
Read about multisHorse racing Pay Back
A qualifying win bet can earn a bonus if your horse finishes in a specified place, such as second or third. That bonus is the next conversion to assess.
Follow the RaceWise lessons from the qualifying bet through the optional lay hedge to converting the bonus. Check the eligible races, placing conditions and cap for the offer you’re using.
Read the Pay Back lessonMatched Betting Australia FAQs
What is matched betting in Australia?
Matched betting uses opposing bets to convert value from bookmaker promotions. A back bet covers a selection winning; a lay bet covers it not winning. The stakes are calculated so one side offsets the other, with the promotion supplying the value.
How does matched betting work?
Start with an eligible promotion and complete any qualifying bet. Find a conversion for the bonus, calculate the opposing stakes, then check both prices and settlement rules before placing the bets. Our guides and Learning Zone explain each step.
Do I need a Betfair account?
For a back-and-lay conversion, you need an exchange account with enough funds to cover the lay liability. A back-back conversion uses opposing bets at bookmakers instead. The method you choose determines which accounts and hedge stakes you need.
Is there a free matched betting calculator for Australia?
Yes. Enter your back odds, lay odds, stake, bonus type and commission in WagerWise’s free matched betting calculator. It shows the lay stake, liability and calculated outcomes for your inputs. The calculator checks a bet you enter; the conversion software helps you find opportunities.
Open the free matched betting calculatorIs matched betting legal in Australia?
Matched betting wagers need to be placed with licensed providers and comply with the operator’s terms and applicable state or territory rules.
Check the ACMA registerCan I try WagerWise before paying for membership?
New customers can try WagerWise free for seven days. Choose a membership plan and add a payment method at checkout. Your selected subscription starts billing after the trial unless you cancel before it ends.
Find your next
bonus conversion
Try the tools and follow the lessons with a 7-day free trial.