See what your bonus bet is actually worth.

What is promo bashing?

Australian bookmakers hand out bonus bets and promo offers to attract new sign-ups and keep existing customers betting. Promo bashing (also called bonus bet conversion) is a hedging technique that aims to retain part of a bonus bet's value as withdrawable cash - by placing an opposing bet so that every outcome is covered. How much (if any) of the value you retain depends on the odds available and on both bets being placed successfully.

There are two ways to hedge:

vs Betfair (lay betting)

You place the bonus bet on a bookmaker (back bet), then lay the same outcome on Betfair Exchange. If your selection wins, the bookmaker pays out but Betfair takes your liability. If it loses, Betfair pays you. If both bets are matched at the odds shown, each outcome leaves you with a similar cash position - but odds can move between placing the two bets, so the final result can differ from the estimate.

Bookie vs bookie

You place the bonus bet on one bookmaker, then bet on the opposite outcome at a second bookmaker. No exchange account needed, but conversion rates are usually lower.

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What you need

• Existing bookmaker accounts - The tool compares odds across these AU-licensed bookmakers: Sportsbet, Ladbrokes, Neds, PointsBet, TAB, TABtouch, Unibet, Betr, BetRight, BoomBet, and PlayUp. It only reads their public odds - whether you hold an account anywhere is entirely your decision.
• A Betfair Exchange account (for lay mode) - The "vs Betfair" mode assumes you already have access to Betfair Exchange, with enough funds in the account to cover the lay liability.
• Bonus bets / promo offers - The tool is for people who already hold bonus bets or promo offers from a bookmaker. Always read the offer's terms before using it.
• Enough bankroll for hedging - You'll need real money in your Betfair account (or second bookmaker) to place the hedge bet. This isn't lost - it's returned when the bet settles.
• Know your bonus type - Check if your bonus bet is SNR (Stake Not Returned - you only get the winnings, not the stake back) or SR (Stake Returned - you get the stake + winnings). Most AU promos are SNR.

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Key terms

Back bet

Your bonus bet placed on the bookmaker (betting FOR an outcome to win)

Lay bet

Betting AGAINST an outcome on Betfair Exchange

Hedge bet

The opposing bet that covers the other outcome (either a lay on Betfair or a bet on a second bookmaker)

Lay stake

How much to wager on Betfair for the lay bet

Liability

The amount held in your Betfair account to cover the lay bet if it loses - this is returned if your lay wins

Conversion %

The estimated percentage of your bonus bet retained as real cash if both bets are matched at the odds shown (e.g. 70% conversion on a $100 bonus ≈ $70)

SNR

Stake Not Returned - the most common type. You only receive the profit, not the original bonus stake

SR

Stake Returned - you receive both the stake and the profit. Higher conversion rates

Commission

Betfair takes a % cut of your winning lay bets (usually 5%)

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Step by step: using the Bonus Basher

1. Open the Bonus Basher - Click "Bonus Basher!" in the sidebar or from the card above.
2. Choose your hedge mode - Select "vs Betfair" for the best conversion rates (recommended), or "Bookie vs Bookie" if you don't have a Betfair account.
3. Pick a sport - Select a specific sport, or choose "All Sports" to scan everything at once. More sports = more opportunities but uses more API quota.
4. Select bookmakers - Choose which bookmaker your bonus bet is on as the Back Bookmaker, or leave as "All" to see every option. In Bookie vs Bookie mode, also pick your hedge bookmaker.
5. Enter your bonus amount - Type in the value of your bonus bet (e.g. $100).
6. Set your Betfair commission - Default is 5%. Check your Betfair account for your actual rate (it may be lower if you have discount rates).
7. Select your bonus type - Pick SNR (Stake Not Returned) or SR (Stake Returned). If you're unsure, it's almost always SNR.
8. Hit "Scan Now" - The tool fetches live odds and calculates the best conversion opportunities. Results are sorted by conversion rate - best deals at the top.
9. Read the card - Each result shows the back bookmaker and odds, where to lay/hedge, the calculated stake and liability, and the estimated return if both bets are matched at those odds.
10. Place both bets FAST - Odds move quickly. Open the bookmaker and Betfair side by side. Place the back bet first (bookmaker), then immediately place the lay bet (Betfair). Double-check the lay stake and odds match.
11. Wait for the event to settle - Once the game finishes, one side pays out and the other side loses. If both bets were matched as planned, the net position should be close to the estimate shown.

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Worked example

You have a $100 SNR bonus bet on Sportsbet and a Betfair account with 5% commission. The scanner finds Melbourne Victory vs Sydney FC, and you place the two legs shown in the sample card at the top of this page: back Melbourne Victory at 3.50 on Sportsbet, then lay Melbourne Victory for $69.25 at 3.60 on Betfair (you need $180.05 in the account to cover the liability).

Here is how each outcome settles:

In this hypothetical example, both outcomes would leave roughly $66–$70 in real cash from a $100 bonus bet - but only if both bets are matched at exactly the odds shown. Real odds move constantly, so actual results will vary and can be worse than the estimate.

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Tips for better results

• Aim for 60%+ conversion - Anything above 60% is great. Below 50% is usually worth waiting for a better opportunity.
• Close odds = higher conversion - The closer the back odds and lay odds are to each other, the more you keep. Look for tight markets.
• Lower odds convert better - Odds around 2.00–4.00 typically give the best conversion rates. Very high odds (10.00+) give poor conversions.
• Act fast - Odds change constantly. When you find a good conversion, place both bets within seconds of each other.
• Use the spreadsheet button - Track every conversion in a spreadsheet so you know your actual results over time.
• Check Betfair liquidity - Make sure there's enough money available on Betfair at the lay odds shown. If there isn't, the next best lay price might be higher.
• Don't bet on events starting imminently - If a game is about to start, the odds can shift rapidly and you might not get both bets placed in time.

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Important warnings