TonyBet’s \u00a3200 Welcome Offer looked like one of the most generous new account offers about – but as an experienced matched bettor I’ve learned that lesser-known and new bookies can be a nightmare to deal with. So we’re they?<\/p>\n\n\n\n
In short no. I had no problems with KYC or withdrawing. I did upload the required documents on the day of opening the account, which I recommend as it will avoid potential delays down the line.<\/p>\n\n\n\n
So how did I do, and what’s involved in taking around \u00a3130 from the offer?<\/p>\n\n\n\n
Well, first up this is a \u00a3200 matched deposit offer that requires you to turn over your \u00a3200 10 times to release the bonus (or free bet). So it’s perhaps not one for newbie matched bettors. But those that have a basic understanding of matched betting and also have the capital to cover the required lay bets should have few problems with this.
The key parts of the terms state:<\/p>\n\n\n\n
A<\/em> player will get a bonus of 100% of his\/her deposit amount up to \u00a3 200 after the deposit wagering requirements are met.
The deposit must be wagered 10x on TonyBet sports betting markets with odds of at least 1.65 within 30 days in order to receive this bonus. Only the bets which do not exceed the original deposit amount will be included in the turnover requirements.<\/em><\/p><\/blockquote>\n\n\n\nThis meant 10x \u00a3200 bets at 1.65 or above within 30 days.<\/p>\n\n\n\n
Doing 10 Qualifying (back\/lay) bets of \u00a3200 was clearly going to incur significant losses so I did some research using the OddsMatching tool at Profit Accumulator<\/a> so to see how much these were likely to cost each and work out if the offer would be viable. I figured a loss of \u00a35 – \u00a310 per qualifier would actually be acceptable given I’d be getting a \u00a3200 Free Bet. Their odds appeared competitive enough to make this worthwhile.<\/p>\n\n\n\n
So I actioned this during the final weeks of the football season when there was top level matches literally everyday, but at the time of writing the Euros are about the start which should again throw up lots of opportunities to find close enough odds matches with lots of liquidity on Smarkets to lay off the bets.<\/p>\n\n\n\n
One Qualifier a Day<\/h3>\n\n\n\n
I was able to do one qualifier per day over an 11 day period, this kept meant I wasn’t using my full Smarkets Balance every day. (I typically keep around \u00a3750 to \u00a31000 in Smarkets to cover the lay side of things)<\/p>\n\n\n\n
Here’s a table detailing all of my bets with TonyBet. The first 10 are qualifiers and I’ve indicated whether they won or lost to give you an idea of how much you might need to fund the turnover requirements. As my first two qualifiers won I didn’t need to add more funds the account until after QL6 and overall I ended up needing to deposit another \u00a3300 to cover all the qualifiers. My Smarkets balance was enough to cover all of them without extra funds.<\/p>\n\n\n\n