What is a turnover bet?
In the terms and conditions of each promotion or bonus bet there are usually various terms and conditions to make sure you play it fairly and do not try withdraw it straight away. This is the reason we need the matched betting technique described in the tutorial. The main two are minimum odds (Covered in the matched betting guide) and the other is the turnover requirement, covered here.
Essentially it is an amount of money that you must wager with a betting site before they let you withdraw any winnings from a bonus bet. Some offer 1x turnover (the easy bonus bets are listed here) which are the best and easiest to complete, so if you have a $20 bet you want to extract you just have to do one “Qualifier bet” to complete this turnover. So you simply place a $20 bet and then lay it with the exchange, as per the matched betting Australia guide.
How to complete a turnover requirement
You simply do this by placing qualifier bets using games with close back and lay odds, until you reach the amount required or until the exchange wins and the bookie bet loses. This involves making that small qualifying loss each time you have to do this so it can eat into your profit, not by too much though, you will still heavily profit each time, you should aim to only make about a 3% qualifier loss each time you complete a turnover bet.
The main point to take from this is that after the easy offers are complete keep an eye out for high turnover amounts as you will need to make sure you have the money in your exchange to lay your bets to match the back bet with the bookie.
More Advanced Turnovers
Some bookmakers have higher turnover requirements such as 2x, 3x and higher, they also say you must turn over your winnings in addition to your depositl these should only be completed after you complete the first and easiest matched betting bonus bets.
These higher turnover requirements work like this. I deposit $50 to get a bonus bet. I must turnover the deposit 3x ($150), This means I must gamble that amount of money before I can extract the profit. You may also have to add winnings on to your turn over requirements so make sure to read the terms and conditions or ask them on live chat.
If your free bonus bet loses with the bookie and wins with the exchange then this is great, the money can then just be taken out of the exchange back into your bank. if it wins with the bookie and loses with the exchange then you must complete qualifier bets until you reach the turnover amount or until the money end up in the exchange before extracting your profits.
You can find the easiest bonuses to start with here.
If you have any questions just hit the “click here to ask me a question” bar to the right of this page.