What a betting promotion is, in the bookmaker's own words
A betting promotion is anything a bookmaker adds on top of an ordinary bet. At Sportsbet, TAB and PointsBet nearly all of it arrives as a bonus bet: a token with a dollar value that sits in a separate balance, can be used once, and pays out the profit but never the stake.1 Sportsbet's definition is blunt: a bonus bet "is not reflective of your account balance, as it is a completely separate balance".
The promo types in the ledger above differ only in how that token is earned. A bet match sizes it from your first bet, a deposit bonus from a deposit, a stake-back from a runner finishing second, and a boost skips the token and changes the price instead. Under every one of them sit the general bonus bet terms, and those are where the money is decided.
Worked example · a $50 bonus bet at $2.00
- Bonus bet stake
- $50.00
- Price
- $2.00
- Gross return (50 × 2.00)
- $100.00
- Less the bonus stake, kept by the bookmaker
- −$50.00
- Credited to your balance
- $50.00
That subtraction is the single most important line in any promo. Sportsbet writes it as clause 7.1, TAB as FAQ 15, and PointsBet as a formula: (bonus bet amount × odds) − bonus bet amount.7 A cash bet of $50 at $2.00 would have returned $100. The bonus bet returns half of that, and at short prices the gap gets worse: at $1.50 it credits $25, and a PointsBet exotic that paid less than the token's value credited nothing at all.
Once you can see the stake line, the rest of a promo is arithmetic. The three bookmakers on this ledger all publish their bonus bet rules on open help pages, and the comparison shows where they differ: expiry, excluded bets, deposit methods and who's shut out by state.
Compare the promo terms of Sportsbet, TAB and PointsBet →Sportsbet, TAB and PointsBet: bonus bets expire in 7 days at two of the three, the stake is never returned at any of them, and every deposit is turned over once before it can leave. · 18+ · Gamble responsibly · Gambling Help Online 1800 858 858
Why NSW punters see the mechanics and not the offers
Section 33H of the Betting and Racing Act 1998 (NSW) makes it an offence to publish a betting advertisement that offers an inducement to open an account, to bet, or to bet more often.10 The section catches whoever publishes, including sites like this one, and Liquor & Gaming NSW says a disclaimer that the offer "is not available to NSW residents" doesn't fix the breach.11 The NSW page lists the fines bookmakers have paid for it.
That's why the ledger shows how each promo type is calculated and never lists a live offer, a promo code or a "bet this, get that" sum. It's also why the bookmakers' own terms exclude states: Sportsbet's clause 2.1 shuts ACT, NSW, WA and SA residents out of offers entirely and Victorians out of account-opening offers,1 while TAB's clause 64 warns that NSW, Queensland, South Australia, Victoria and Western Australia residents "may be ineligible".5 The state picker in the header shows which clause applies to you. The full story is on the NSW page.
The four clauses that decide what a promo is worth
Expiry
Seven days from the moment the token lands, at Sportsbet (clause 6.2) and TAB (clause 67.1), unless the specific offer says otherwise.1 An unused token "will become void and unable to be redeemed". PointsBet sets the date per offer and its daily boosters die at midnight: "Daily Boosters that have not been used do not roll over to the next day".
Excluded bet types
Sportsbet's clause 9.1 bars tote multis, combo multis, each-way bets and tote singles.1 TAB's list is longer: live bets, each-way, parlay formula, mystery products, FootyTAB, non-flexi exotics, Trackside, and any bet with the Multiplier or "The Lock" applied.4 PointsBet allows bonus bets on same game multis but not on in-play markets (in Australia, in-play bets on sport are phone-only). If the bonus bet button doesn't appear in the slip, the bet type is the usual reason.
Deposit method
A deposit-related offer only counts deposits made a certain way. At TAB, "only deposits made online using your debit card make you eligible"; cash and BPAY don't.4 At Sportsbet, clause 4.5 says Cash Card and BPAY deposits "will not trigger the Deposit Match offer".1 PayID isn't named on either list.
Turnover
Every deposit has to be bet once before it can be withdrawn, promo or no promo. Sportsbet's help page: "if you deposit $50 you'll need to bet $50 before you can withdraw".2 PointsBet frames it as an anti-money-laundering rule and adds the useful part: winnings from bonus bets "are not subject to turnover requirements and can be withdrawn immediately".8 The turnover page has a calculator.
Bonus bets weighed up
Where they help
- A bet placed with someone else's money: a losing bonus bet costs you nothing in cash.
- Bonus bet winnings clear straight to the withdrawable balance at PointsBet.
- Splitting is allowed: up to five ways at TAB, ten at Sportsbet, four at PointsBet.
- A voided or scratched selection returns the token at all three.
Where they cost
- The stake is never returned, so $50 at $2.00 is worth $50, not $100.
- Seven days and it's gone.
- Tote, each-way and live bets are usually excluded.
- Eligibility "can change over time based on account activity" (PointsBet) and promos are for "Recreational Gamblers only" (TAB clause 63.2).
My verdict
Treat every bonus bet as worth its face value times the price minus the face value, and nothing more. On that arithmetic a $50 token is worth $50 at $2.00, $100 at $3.00, and $25 at $1.50, which is why long-priced singles are the natural home for a bonus bet and short-priced favourites the worst. Read the expiry the day the token arrives. If you're in NSW, ACT, WA or SA, expect the mechanics and not the offers, and use the bookmaker comparison to see whose terms are plainest before you use one.
Questions punters ask
What is a betting promotion?
A promotion is any extra a bookmaker adds to a bet: a bonus bet token, a bonus bet matched to a deposit or a first bet, a boosted price, or a bonus bet back when a runner finishes second. Each one has its own terms, and the general bonus bet terms sit underneath them.
Do bonus bets pay out the stake?
No, at all three bookmakers on this ledger. Sportsbet's clause 7.1, TAB's FAQ 15 and PointsBet's payout formula all pay the profit only: a $50 bonus bet at $3.00 credits $100, and the $50 stays with the bookmaker.
Why can't I see bonus bet offers in NSW?
Section 33H of the NSW Betting and Racing Act 1998 bans publishing betting ads that offer an inducement to open an account or to bet, so bookmakers' terms exclude NSW residents from offers. Sportsbet's clause 2.1 also excludes ACT, WA and SA, and Victoria for account-opening offers.
How long do bonus bets last?
Seven days from the time they land in your account at Sportsbet (clause 6.2) and at TAB (clause 67.1), unless a specific offer says otherwise. PointsBet sets the expiry per offer; daily boosters there expire the same day.
What is a turnover requirement?
The rule that a deposit has to be bet once before it can be withdrawn. Sportsbet's help page puts it as deposit $50, bet $50; PointsBet calls it an anti-money-laundering requirement and says bonus bet winnings aren't held by it.
Are bonus bet winnings taxed in Australia?
Winnings from recreational gambling aren't taxed, whatever the stake was made of: the ATO's ruling IT 2655 treats them as windfalls, not income. Professional punters are the exception.
Sources
- Sportsbet Help Centre, Bonus Bet Offer Terms & Conditions (clauses 2.1 eligibility, 3.3 bet match examples, 4.3 deposit bonus examples, 4.5 Cash Card and BPAY, 6.2 seven-day expiry, 7.1 winnings exclude the stake, 9.1 excluded bet types), rules dated 3 March 2026 — helpcentre.sportsbet.com.au/hc/en-us/articles/115004800447-Bonus-Bet-Offer-Terms-Conditions, checked 29 September 2026.
- Sportsbet Help Centre, How Much Money Do I Need To Turnover Before I Can Withdraw? (deposit $50, bet $50) — helpcentre.sportsbet.com.au/hc/en-us/articles/115007208927, checked 29 September 2026.
- Sportsbet Help Centre, Sign-Up & Refer A Friend Bonus Bets (no promotions on signing up or referring a friend) — helpcentre.sportsbet.com.au/hc/en-us/articles/18424940792589, checked 29 September 2026.
- TAB Help Centre, Bonus Bets: FAQs (FAQ 7 separate balance, 10 excluded bet types, 13 seven-day validity, 14 deposit methods, 15 payouts, 19 no cash out) — help.tab.com.au/bonus-bets-promotions/bonus-bets-faqs, checked 29 September 2026.
- TAB Help Centre, Promo T&Cs (clauses 60 eligible participant, 61.5 rounding down, 62.2 single bets only, 63 fair play, 64 excluded jurisdictions, 67.1 expiry) — help.tab.com.au/bonus-bets-promotions/promo-t-cs, checked 29 September 2026.
- TAB Help Centre, My Offers – Bonus Bet T&Cs (Race Saver 2nd/3rd, Multi Saver, Race Boost and the other token types) — help.tab.com.au/bonus-bets-promotions/my-offers-bonus-bet-t-cs, checked 29 September 2026.
- PointsBet Help Centre, I used a bonus bet and my bet won, why haven't I been paid in full? (payout formula, $50 at $3.00 = $100) — support.pointsbet.com.au/hc/en-au/articles/10982988808079, checked 29 September 2026.
- PointsBet Help Centre, Do I need to bet through my winnings before I can withdraw if I have used a bonus bet? and What does it mean if I can't withdraw due to turnover requirements? — support.pointsbet.com.au/hc/en-au/articles/14429163982479, checked 29 September 2026.
- PointsBet Help Centre, How is my Event Booster boost calculated? (a 50% boost on $2.00 gives $2.50) — support.pointsbet.com.au/hc/en-au/articles/17648401150991, checked 29 September 2026.
- Betting and Racing Act 1998 (NSW), s.33H, publishing gambling advertisements with inducements — classic.austlii.edu.au/au/legis/nsw/consol_act/bara1998153/s33h.html, checked 25 September 2026.
- Liquor & Gaming NSW, Gambling advertising restrictions: wagering (a disclaimer that the inducement isn't available to NSW residents doesn't cure the breach) — www.nsw.gov.au/business-and-economy/liquor-and-gaming/gaming/wagering-regulation/gambling-advertising, checked 2 October 2026.
- ATO, Taxation Ruling IT 2655, betting and gambling winnings of recreational punters aren't assessable income — www.ato.gov.au/law/view/document?docid=ITR/IT2655/NAT/ATO/00001, checked 25 September 2026.