PointsBet bonus bets: how to turn them into cash
PointsBet still operates in Australia under its own name. Its bonus bets pay the profit only, and the winnings are yours to withdraw straight away.
The short version: place the bonus bet at PointsBet on a fixed odds win bet at longer odds, then lay the same selection on Betfair. Whichever way it goes, you end up with roughly the same cash.
PointsBet bonus bets rules
| Stake returned on a win | No. PointsBet's example: a A$10 bonus bet at 6.00 pays A$50. source |
|---|---|
| Withdrawing winnings | No turnover requirement on bonus bet winnings. A cash deposit tied to a deposit offer must be bet through once before it can be withdrawn. source |
| In play | Not allowed. In play bets take cash only. source |
| Same Game Multi | Allowed. source |
| Splitting | Where a bonus bet shows the split option, it splits 2, 3 or 4 ways, once. source |
| Status | Still trading as PointsBet in Australia. Japan's MIXI took majority control in 2025. It did not become Betr. source |
Not confirmed on PointsBet's own pages, so check the offer itself: Expiry (not stated on the help pages we could read); A general minimum odds rule.
Where PointsBet bonus bets come from
- Pay Back Tokens. Add the token when you bet, and you get a bonus bet back if the bet does not win. source
Refund style offers work the same way once the bonus bet lands. See money back specials for how to cover the qualifying bet.
How to turn it into cash
- Pick a fixed odds win selection at PointsBet, roughly 4.00 to 8.00, where Betfair has a lay price close to it and enough money waiting.
- Place the bonus bet at PointsBet. Leave the cash stake box empty so you do not place a cash bet as well.
- Lay the same selection, same market, on Betfair for the lay stake the bonus bet calculator gives you. New to laying? Start with lay betting explained.
- If the selection wins, the profit lands at PointsBet. If it loses, the lay wins on Betfair. Either way the result is about the same.
Worked example: a A$50 bonus bet
Same bonus bet, two prices, 8% Betfair commission. Figures are illustrative, not a promise.
| Longer odds | Short odds | |
|---|---|---|
| Back / lay odds | 6.00 / 6.20 | 2.00 / 2.06 |
| Lay stake | A$40.85 | A$25.25 |
| Liability needed on Betfair | A$212.42 | A$26.77 |
| Cash either way | A$37.58 | A$23.23 |
| Kept from A$50 | 75% | 46% |
Why longer odds keep more: with a stake not returned bonus bet the only value is the profit, which is the stake times the odds minus one. At 2.00 that is A$50; at 6.00 it is A$250. The cost is a bigger liability, so you need that much sitting in Betfair before you lay.
Mistakes that cost money
- Typing a cash stake as well as ticking the bonus bet.
- Using it on a bet type with no lay market, like exotics, each way or most multis. If you cannot lay it, you cannot lock it in.
- Laying the place market when you backed the win, or the wrong runner.
- Using short odds and keeping half the value.
- Not enough in Betfair to cover the liability, so the lay only part matches.
- Letting it expire.
- Only ever betting on promotions. Bookmakers do restrict accounts.
Frequently asked questions
Does PointsBet return the bonus bet stake?
No. PointsBet's help centre says the stake is not included in the payout, so a A$10 bonus bet at 6.00 pays A$50.
Do I need to turn over PointsBet bonus bet winnings?
No. PointsBet says bonus bet winnings have no turnover requirement and can be withdrawn immediately.
Is PointsBet now Betr?
No. PointsBet still trades under its own name in Australia after MIXI took majority control in 2025. Betr is a separate bookmaker.
How much of a PointsBet bonus bet can I keep?
As an illustration, often around 70 to 80 percent of the face value when you use it at longer odds with a close Betfair lay price. It is not a promise: the odds, the gap to the lay price and your Betfair commission all move it. At short odds it can be much less.
Can PointsBet restrict my account for doing this?
Yes. Bookmakers can restrict or close accounts at their discretion, and accounts that only ever bet on promotions are the usual target. Treat promotional access as something that runs down over time.
Keep going
The full method is in matched betting in Australia. Other bookies: Sportsbet, Ladbrokes, Neds, TAB, bet365, Betr, Palmerbet, or all bonus bet guides.
Sources
- support.pointsbet.com.au/hc/en-au/articles/12206298205327-Why-is-my-payout-less-when-I-ve-used-a-bonus-bet
- support.pointsbet.com.au/hc/en-au/articles/10851248133775-Do-I-need-to-bet-through-my-winnings-before-I-can-withdraw-if-I-have-used-a-bonus-bet
- support.pointsbet.com.au/hc/en-au/articles/10880042188175-Can-I-use-my-bonus-bet-on-an-In-Play-bet
- support.pointsbet.com.au/hc/en-au/articles/10871176813327-Can-I-use-a-bonus-bet-to-place-an-SGM
- support.pointsbet.com.au/hc/en-au/articles/4405152253849-How-do-I-split-my-bonus-bet
- covers.com/industry/mixi-takes-over-australian-gaming-operator-pointsbet-sept-8-2025
- support.pointsbet.com.au/hc/en-au/articles/10851318446991-What-are-Pay-Back-Tokens
Written by the YAUPICKS team. PointsBet rules last checked 18 October 2026 against PointsBet's own help and terms pages. Bookmakers change their terms; the offer in your account always wins. 18+ only.
Gambling involves risk. Matched betting is a strategy that aims to reduce outcome risk, not eliminate it. Losses are possible, particularly through human error, and bookmakers may restrict or close accounts at their discretion. YAUPICKS is an education and community platform operated by YAUPICKS PTY LTD (ABN 40 673 940 228). We are not a bookmaker, a casino or a financial services provider, and no wagers, deposits or withdrawals occur on this site. Nothing here is legal, tax or financial advice. You must be 18 or over. If gambling is causing you harm, contact Gambling Help Online on 1800 858 858 or self exclude from all Australian licensed online wagering services through BetStop, the National Self-Exclusion Register. See our responsible gambling page.