In the competitive Australian bookmaking industry, offering incentives like bonus bets has become standard practice to attract new customers. Despite operating differently to the traditional corporate bookies, Betfair has conjured up an appealing sign up bonus for prospective members. All winnings made during the first 7 days of the account’s operation will attract a 20% bonus up to a maximum of $500. The free amount will be paid in cash. For example, $2,000 in winnings will be matched with a $400 cash reward. Importantly, if there is $2,000 in winning bets, and $2,000 in losing bets, meaning the member has made no profit, the bonus will still be awarded.
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$500 Winning bonus
New customers can earn a 20% winning bonus up to $500.
While Betfair’s $500 sign on bonus is a very appealing offer, it is different in nature to the new account bonus bets offered by Australian betting sites. Many bookies offer a bonus bet to match the first deposit or first bet amount; for this offer, Betfair is paying a 20% bounty on all winnings generated during the first 7 days of the account. Whilst, this may appear less competitive than other bookmaker offers, the flipside is that the bonus is applied in cash, and once it has been awarded, it can be withdrawn without having to turnover the amount. It’s an innovative offer from the leading exchange provider and definitely suits punters that are comfortable placing larger sized bets.
The Betfair bonus bet is not available to residents of NSW. This is the case for all sign up bonus bets, so in this sense, the offer is comparable with all corporate bookmakers in Australia.
Who qualifies for the bonus bet?
The free bonus is available only to new Betfair customers. They have extended the offer as far and wide as regulation allows, including New Zealand. They are, however, prohibited from offering the deal in Victoria, New South Wales, South Australia and Western Australia.
Betfair is the only licensed and registered betting exchange provider in Australia. In fact, they are the largest exchange in the world. They operate differently to the other Australian betting providers. While Betfair have opted for a slightly different form of sign up bonus, it is nonetheless a great offer. In itself, the offer is perhaps not enticing enough on its own to warrant setting up a Betfair account, however, there are many other benefits that a Betfair account can bring, as documented in our review.