Fact table
| Licence, per its own footer | "Licensed and regulated by Australia's Northern Territory Government"7 |
|---|---|
| Terms documents | Dated help-centre articles; no consolidated bonus bet T&C found on the open help centre1 |
| State exclusions | Not published in the articles read; eligibility per offer and per account |
| Stake returned | No: (bonus × odds) − bonus |
| Expiry | Per token; daily boosters same day |
| Splitting | 2, 3 or 4 ways where the token has the option |
| Excluded bet types | In-play; SGMs allowed; Five for $25 has its own article |
| Turnover | Deposits once at any odds; bonus bet winnings not held |
| Boost calculation | On the profit portion: 50% on $2.00 = $2.50 |
| Token credit time | Pay Back bonus "around 15 minutes" |
| Fine-print score | 7/ 10 |
The payout formula
"When you use a bonus bet to place a bet, the bonus bet amount (value) is deducted from the winnings. This is because the bet has not been placed with cash funds, but rather a 'free bet'. To calculate your payout, use this formula: (Bonus Bet Amount x Odds) - Bonus Bet Amount. For example, if you use a $50 bonus bet on a $3 winning bet, your payout will be $100."1 A second article says the same thing another way: "bonus bets offer the chance to win without using your own money, but they only return the profit, not the original stake".
Worked example · $50 PointsBet bonus bet at $2.00
- 50 × 2.00
- $100.00
- Less the token
- −$50.00
- Credited
- $50.00
The exotic example is the one no other bookmaker prints. A $10 bonus bet on a quinella bought 47.61% of the dividend; the quinella paid $4.60; "0.4761 x 4.6 - 10 = -$7.8 So, in this case, our payout would have been a negative value (-$7.8), meaning there is no payout."1 A token on a flexi exotic has to clear its own face value before anything is credited.
Turnover and withdrawals
Two articles, and between them the clearest statement of the rule anywhere. On bonus bet winnings: "No, winnings from bonus bets are not subject to turnover requirements and can be withdrawn immediately. However … the cash deposit amount must be bet through at least once (at any odds) before you can withdraw deposited funds."2 On the error message: "it means you haven't yet bet through (turned over) your entire deposit. This is a compliance requirement for all bookmakers under Anti-Money Laundering (AML) regulations."2 If you've deposited and no longer want to bet, PointsBet asks you to contact customer service. The turnover page has a calculator built on exactly this rule.
PointsBet explains the arithmetic best and documents the framework least; Sportsbet and TAB do the reverse. The comparison shows all three on the same eight clauses.
Compare the promo terms of Sportsbet, TAB and PointsBet →PointsBet: payout formula and negative exotic example in writing; bonus bet winnings withdrawable immediately; no published state list or blanket expiry · 18+ · Gamble responsibly · Gambling Help Online 1800 858 858
Using, splitting and in-play
Select the Bonus Bet button in the slip, leave the stake box blank, and place the bet; if you hold several tokens, pick one. The bonus balance shows in blue at the top right and in the Rewards section.3 Splitting: where a token shows a Split Bonus Bet button, it splits "x2, x3 or x4 ways", and "once you have split your bonus, you will not be able to split it any further". In-play: "you are not permitted to use a Bonus Bet on an In-Play market, you can only use your cash balance". In-play bets on sport can only be placed by phone in Australia, so this exclusion is about phone bets. Same game multis: "Yes, you can use bonus bets to place SGM bets."3
Boosters
An Event Booster "boosts your odds by a set percentage (%) for a specific event, sport, or race meeting". The calculation: "The boost applies to the profit portion of your odds, not the full price. For example: a 50% boost on $2.00 odds adds 50% of the $1.00 profit, giving $2.50. A 100% boost on $2.00 odds gives $3.00 - not $4.00."4 Daily Boosters work the same way from the slip, come in several types, and "do not roll over to the next day". Both kinds "bounce back into your account" if the bet is voided, cancelled or declined. Beast Mode boosts selected markets and shows a badge on the ticket when it applied.4 The boosts page works the formula on $50.
Tokens and racing promos
Pay Back token. Applied before a bet; if the bet loses, a bonus bet follows, and "bonuses can take around 15 minutes to credit". Cashing out a bet with the token on it changes what's paid.5
Bet & Get token. Select the yellow token before a qualifying bet; a tracker in My Rewards shows progress, "for example $0.00 / $25.00 in Bonus Bets", and a Redeem button releases the token once the amount is unlocked.5
Run 2nd. A bet isn't eligible if it "was placed using a Pay Back token", "was placed using an Odds Booster", "was part of a multi", or "was not your first Fixed Odds win bet on the race". The maximum stake is on the banner; the help page's example shows $20. PointsBet was "working through eligible bets manually" at the time of writing.5
Protest Payout. A win bet is paid as a winner if the horse finished first and was relegated on protest; Australian horse and harness racing only; resettlement takes 10 to 20 minutes.5
Eligibility
This is the part PointsBet leaves loosest. "Promotional eligibility can change over time based on myriad factors, such as account activity history and responsible gambling policies. While your account may not currently qualify for promotional offers, please rest assured that we regularly review eligibility."6 What you're eligible for right now is in the Rewards Points section under the profile tab, and the wider promos are in the menu under the flame icon. No state list appears in the articles I read; the NSW page explains the law that shapes eligibility in any case.
PointsBet's terms weighed up
Where the terms are good
- The payout formula and a negative exotic example, written out.
- Bonus bet winnings withdrawable immediately.
- The booster formula, written out.
- Boosters returned on void bets; SGMs allowed.
Where they cost
- No single dated document with numbered clauses on the open help centre.
- No published state exclusion list.
- No blanket expiry rule; daily boosters die the same day.
- Eligibility can be withdrawn on "myriad factors".
My verdict
If you already hold a PointsBet account, its help centre will tell you exactly what a token pays and when a deposit can leave, in plainer English than either rival. What it won't tell you in one place is who's eligible and for how long, so check each token's expiry in Rewards the day it arrives and treat eligibility as something that can change. On a $50 token: $50 at $2.00, $100 at $3.00, nothing on an exotic that pays under $50. The comparison shows where Sportsbet and TAB do better.
Questions punters ask
How does a PointsBet bonus bet pay out?
By the formula (bonus bet amount × odds) − bonus bet amount. PointsBet's example: a $50 bonus bet at $3.00 pays $100. The token itself is deducted from the winnings.
Do I have to turn over bonus bet winnings at PointsBet?
No. Winnings from bonus bets are not subject to turnover requirements and can be withdrawn immediately. Cash deposits must be bet through once, at any odds.
Can I use a PointsBet bonus bet in-play?
No. You can't use a bonus bet on an in-play market; only the cash balance works there. In Australia, in-play bets on sport are phone-only. Same game multis are allowed.
How are PointsBet Event Boosters calculated?
On the profit portion of the odds: a 50% boost on $2.00 gives $2.50, a 100% boost gives $3.00, not $4.00.
Why didn't my Run 2nd promo pay at PointsBet?
The bet may have used a Pay Back token or an Odds Booster, been part of a multi, or not been your first fixed-odds win bet on the race. The maximum stake is shown on the promo banner.
Why am I no longer eligible for PointsBet promotions?
PointsBet says eligibility can change based on account activity history and responsible gambling policies, that it reviews eligibility regularly, and that you can ask customer service to look at your account.
How long do PointsBet bonus bets last?
Expiry is set per token and shown in the Rewards section. Daily boosters don't roll over to the next day.
Sources
- PointsBet Help Centre, I used a bonus bet and my bet won, why haven't I been paid in full? (formula), Why is my payout less when I've used a bonus bet?, I used a bonus bet to place an exotic bet and it won, why haven't I been paid out? — 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 do I use my bonus bet?, How can I tell if I have any bonus bets?, How do I split my bonus bet?, Can I use my bonus bet on an In-Play bet?, Can I use a bonus bet to place an SGM? — support.pointsbet.com.au/hc/en-au/articles/10851223526543, checked 29 September 2026.
- PointsBet Help Centre, What is an Event Booster?, How is my Event Booster boost calculated?, Will my Event Booster be returned if my bet is voided/cancelled?, What are daily boosters?, Do daily boosters roll over?, Will my Daily Booster be returned?, Beast Mode promotion — support.pointsbet.com.au/hc/en-au/articles/17648401150991, checked 29 September 2026.
- PointsBet Help Centre, Run 2nd promotion (eligibility and maximum stake), Pay Back token, Bet & Get token, Protest Payout, Pull Em token — support.pointsbet.com.au/hc/en-au/articles/17759373979279, checked 29 September 2026.
- PointsBet Help Centre, Why is my account no longer eligible or restricted for promotions? and How can I find out what promotions I'm eligible for? — support.pointsbet.com.au/hc/en-au/articles/14429517850255, checked 29 September 2026.
- PointsBet site footer: licensed and regulated by Australia's Northern Territory Government; captured with an Australian IP address — support.pointsbet.com.au/hc/en-au, checked 28 September 2026.