It was 2010 when Mike Cruickshank’s Bonus Bagging entered the market place as the definitive tool to help people make money from matched betting irrespective of whether they had any pre-existing knowledge of placing bets at bookmakers offline or online.
The fact that four years later it’s still going strong perhaps tells us all we need know to answer the question posed in the title of this post as to whether Bonus Bagging (or more broadly matched betting) is still working in 2014?
Rather than just tell you “YES IT IS!” I wanted to take a few minutes to write a more structured response to exactly why it still works and how so this supposed loophole has yet to be closed down.
Matched betting has been around for a long time.
In fact – it stems from the process of arbitrage (buy low, sell high) that has been around longer still and produced some of the richest stockbrokers in the world.
That said, until a revolutionary product such as Bonus Bagging hit the market matched betting wasn’t really something that could easily be entertained as a reasonable way to make money outside of those ‘in the know’.
Gambling has been around since the dawn of time and it is only really recently that it has started to become a little more accepted in modern day society and the stereotype gambler image of a scraggy hair, long coat wearing men that chain smoked their days away in smoke filled high street bookmaker premises begins to disappear.
Of course the beauty in Bonus Bagging is that you are never actually ‘gambling’ per se.
You are betting on all outcomes to lock in a profit in combination with bonus funds that the bookmaker awards you for signing up with them.
Still though – my previous observations are to point out it takes a little effort to take that small leap of faith and address your own pre-conceptions and thoughts about the gambling industry to which allows us to make such profits.
So how can it be that if thousands of people from all walks of life (male, female, 18 or 80) can for years on end rinse bookmakers for their bonus cash and continually get away with it?
Why do bookmakers continue to offer these bonuses and why aren’t they clamping down on bonus ‘abusers’?
Well first things first the bookmakers simply don’t have a choice but to offer these bonuses.
Go type the word ‘bookmaker’ or ‘sportsbook’ into Google and you’ll see how much competition there is out there!
If you’re a regular punter and are looking for an outfit to bet with then how would you chose who to bet with? People like free things. People like money. This is particularly true in the gambling industry.
Bonuses are used to both attract new customers to bookmaker websites and also encourage people to dig their money out their wallets and lay it on the table.
They make for a better value proposition and people love to feel like they’re improving their chances and getting more for their money.
We must also not underestimate the power of the betting exchanges where you will for the most part always find better odds than at a bookmaker. Bonuses are used to steer attention away from that.
To summarise: if bookmakers stopped offering bonuses then they would lose bucket loads of customers.
I’m in no way connected personally to any bookmaker so can’t vouch for any cold hard statistics but I would hazard a large bet (hoho!) that bookmakers make more money for the most part on their bonus promotions that lose it.
Would they make more money if there was no Bonus Bagging? Well who’s to say. A matched better loses their bets (and wins at the betting exchange) just as much – if not more – as everybody else. I’m sure we’re really not that much of a concern to bookmakers.
Advantage players are in such a minority. We are small fish in a very big pond.
In fact, William Hill have even stated that the industry does not have a problem with matched betting. “There’s no illegal element,” they said. “It’s a free bet and you can do what you like.”
But even if they did care more – what could they do about it? To be honest – not a lot!
For the most part the bets you are making are not going to look any different from that of a regular Joe. Unless you’re throwing silly money around on random markets (think German Volleyball – learn from my mistake!) then you’re not going to flag any suspicion.
If you’re incredibly unlucky and one day get a bookmaker account shutdown then it’s never the end of the world.
Account closures aren’t limited to matched betters. They extend to any kind of punter who the company deems unprofitable inclusive of those having success predicting your regular run-of-the-mill weekly Premier League fixtures.
Withdraw your cash, dump them and move on to the next. There’s plenty out there willing to throw some cash at you to get your ‘custom’.
Right now Mike’s Bonus Bagging product features a massive 20+ bookmakers that it will guide you to sequentially profit from.
There’s most definitely still a truck-load of money to be made from matched betting. Bonus Bagging is still very much alive in 2014 and profits are there for the snatching.
This isn’t going away.
If you’d like the opportunity to for a week trial of Mike Cruickshank’s excellent Bonus Bagging for the tiny outlay of £1 then click this link to proceed to this special offer sales page and get started.
Was just wondering, was having a look at bet365’s offer of 100% deposit bonus up to £200.
In the terms and conditions it says “you must have settled bets to the value of three times your qualifying deposit and bonus before withdrawing this bonus money.” From that I take this – for example, deposit £25, get a free £25 bonus and you can only withdraw the full £50 once you have staked £150.
Surely there is no way your guaranteed of making money in this situation.
This seems to be in the terms and conditions of all sites, so surely matched betting doesn’t work anymore?
Hi Jon: Rollovers are part of the game. It’s not true that they exist for all sites. There are many with easier terms that the offer you discuss here. But this is still a very good offer. And in actual fact, if you only were to bet £25 in this example instead of taking advantage of the whole £200 on offer you’re missing out an enormous chunk of value.
But anyway – you are right in your understanding of the offer. But you are not right in your presumption that there is no way to make money in this situation.
If we take the rollover as £150 then we can achieve this by placing 3 x £50 qualifying matched bets.
It’s common on a qualifying bet to lock in a small loss. Let’s presume you lock in some low odds matches to record a loss of £2 from each £50 matched bet.
The overall loss between all your qualifying bets would be 3 lots of £2 = £6. But you can now withdraw the bonus of £25.
£25 – 6 = £19 profit.
For the actual man hours that went into setting in these three bets that seems pretty good to me.
I can’t remember how I found your site but it’s really interesting and informative so thanks very much for taking the time to write it. =o)
My question is re: Bonus Bagging – is it still a viable option for a newbie dipping their toe in the water for the first time? I’ve never done anything like this before and wonder if I’ve possibly missed the boat on BB?
P.S. – if it’s still worth a go then I’ll use your link to it as I assume (and hope) you get *something* from the referral?
Hi Colin: Thanks for the kind words.
I’d actually say right now there are more advantage players than ever before! You’ve definitely not missed the boat. :)
Bonus Bagging definitely is still a great option for a newbie to dip their toes into matched betting waters for the first time. I do advise you take a look at my eBook (in the sidebar) if you haven’t already because it really drills down into the mechanics of the process and should give you a fuller understanding from the off.
I do indeed receive a commission if you go via a link on this site so thanks very much if you do plump to do so. Feel free to get back in touch if you have any more questions.
Thanks for the reply Chris.
I’m about to get into this system, having now read your eBook but I do have one more question.
Is there a specific timescale for placing bets with Mike Cruickshank’s system? i.e. – should I be looking to place one bet each day or one a week? Or possibly something in between?
I appreciate it doesn’t take a lot of time to place each bet but I’m curious as to how often, or infrequently, you can place bets to make this system work and also how often you get the recommendations from Mike. I understand that the more bets you place the more your money will grow but it would be nice to hear how the timescale for placing bets can pan out.
Hi Colin: How many bets you need to place depends on the offer.
The simplest of offers would be to place on qualifying bet to receive a free bet. When the free bet is received you would then need to play that credited amount through once before withdrawing. Obviously this is 2 bets total before you see a profit.
Not all offers are born equal however and some have a few more hoops to jump through before you can extract your money.
In terms of how many per week there’s not really a definitive answer. It depends how quickly you work through the offers. If you take it steady from the off and wait for each bet to conclude before starting a new offer I would say you’ll probably be placing 3-4 bets a week to begin with. As your confidence and bankroll increases then this number will increase with it.
Awesome site with lots of info that I’m working through at the moment.
I read your above comment with interest re: joining a bookmaker via cash back sites e.g. quidco. Do you know if you can do this as well as claiming the free bets offer? Some offers are giving £30+ cash back so even more money to be made.
Hi Kenny: Absolutely. I certainly took advantage of that also when starting out myself. ;) Made some good money on cashback alone.
Just make sure you read the terms and conditions for each cashback opportunity and also the bookmaker terms and conditions.
There may be exceptions in some bookie T&Cs that state something like “Free bet not available to users joining through cashback websites” or sommit like that. I’ve seen that before (I think! It’s been a while!) but it wasn’t common.
Hi Chris, Iv been reading a lot about this bonus bagging lately (wanted go do my homework before making a decision) I just have one question. I’m already signed up to numerous bookmakers, so is this still worth doing ? As I find free bet offers are very limited to existing customers , well with the ones I use anyway. Appreciate it if you could get back to me with any info , cheers.
Hi Liam: That’s difficult to say without knowing which bookmakers you already have accounts with.
You can probably still make a bit of money out of this product – certainly more than likely enough to pay for the product itself and then some. But more importantly than any small winnings if the knowledge of the process you will have gained which you can then build upon should you be keen to continue with matched betting. Take a look at Profit Maximiser – Mike’s follow-up product – which focuses on offers for people who have been through BB first.
It helps to know how matched betting works though before diving straight into that which is why I’d say Bonus Bagging might still be worth a look for you. Don’t forget there’s a money-back guarantee with it anyway.
I read lot of other site. Some website are writeing not just UK and Ireland where the bonus bagging is godd. Example: Swedwn, Austria, Germany. What do yuo think these countryes? BB is good? I have this question, becouse I live in Austria.
Hi! Not good news from me I’m afraid.
To be blunt: the reason why there are so many sites trying to push this to anyone is purely because they earn a commission from the sale. I’d suspect over 75% of them haven’t even really tried the product themselves. It’s a flawed logic really because the product will in 90% of cases be refunded so all the effect of this is waste people’s time. Sorry to be the bearer of bad news.
The problem is not the technique of matched betting but that the product caters for UK & Ireland players and contains offer with terms and conditions specifically targeted towards these. There may be a few offers which you would be able to make work for you but the terms might be different, thus the bonuses sent out by Mike’s system might be wrong. Beyond that you may have currency conversion issues, restrictions, some bookmakers might not even accept you as a player. There isn’t a one-size fits all logic for every country which is why the product is specifically targeted at one market (UK & Ireland) where Mike can offer optimum support.
Rewinding a bit – there’s nothing to stop you trying matched betting the manual way. Read my eBook and hunt down bookmakers from Google, follow the process, find the matched bets and calculate them yourself. It’s really pretty straight forward once you get the hang of it. Just make sure you read the T&Cs of each site to know what they do and do not allow.
Good luck with it.
I’ve read quite a few reviews for BB – I understand how the system works but have seen several comments that the bookmaker offers supplied by Mike run out after a few weeks. I know it is still possible to use the same technique to continue to make money but I would have no idea of where to start. This system would only work for me if there is a continuing stream of e mails with clear instructions as to where to place the bets and at what odds.
Your advise please
Hi Liz: The automated nature of Bonus Bagging certainly makes things super straight forward but that doesn’t mean you won’t learn anything. I’d fully expect once you’ve been through the process of matched betting at a few bookmakers you’ll grow a lot more confident in the process and will surprise yourself.
In any case I think worrying about longevity and future problems is a little futile if you’re yet to get started with the easy money yet.
Why not re-evaluate your position once you have reached that point of exhausting all the included bonuses and see how you feel then? At that point you can either walk away with the money you’ve earned from bonus bagging if you’re happy leaving it there.
Or if you feel relatively comfortable you could look at Mike’s follow-up product which isn’t quite as ‘point-and-click’ but does contain very direct instruction on profiting from pretty much every form of advantage play out there.
Hi Chris, great website!
I’m in the process of joining Paddy Power now and I’ve just read Paddy Power’s T&C’s. It states that
“£10 must be played as a single bet to qualify for cashback”
Does this mean I have to deposit £10 initially?
The promotion is ‘deposit £5 get £20 free bet”
Hey Sen: Thanks!
It sounds like you’re looking at two different offers.
Some bookmakers offer cashback (via sites like Quidco or TopCashBack) to new players who join from a link through one of these sites. That might be what the £10 is referring to. The other promotion sounds like a standard free bet offer.
Thanks for the info. It is indeed helpful. I will have to pay more attention to the odds when placing a bet. So far I have simply followed the instructions from Mike without really understanding figures.
Let me think about what you say, and if need be I will come back to you. Meantime many thanks for your time.
Hey Morrice: It does help to grasp an idea of how it works, but the beauty of Bonus Bagging IS that it does all these calculations for you. As long as you place the amount stated in each email at the odds specified then you will lock in the profit identified.
Once you’ve gone through it a few times it should become clearer. Re-reading the examples in my eBook a few times might also help.
Good luck! :)
Don’t know if this is correct, but the figures are
Bookie back odds on qualifier 1.20 against Betfair lay odds of 1.94.
Bookie back odds on followup 3.5 against Betfair lay odds of 3.55.
Is this what you were looking for?
Possibly! Though 1.2 seems a bit low. Minimum odds are normally 1.5 at PaddyPower as well.. Hmmm. Sure it wasn’t back odds of 1.9?
I’ll calculate with 1.9 because that would account for a 50p-ish loss qualifying loss as you seemed to suggest in the first post.
So for your qualifier:
Bet £10 @ 1.9 at bookmaker.
Lay £10.05 @ 1.94 at Betfair.
If bet wins returns £19 – £9.45 = £9.55
If lay wins returns winnings of £10.05 – 5% = £9.55
Result: Returns £9.55 whatever the outcome.
So far you’re 45p down.
£10 Free bet:
Bet £10 @ 3.5 at bookmaker.
Lay £7.14 @ 3.55 at Betfair.
If bet wins returns £25 – £18.21 lay risk = £6.79.
If lay wins returns winnings of £7.14 – 5% = £6.79.
Result: Returns £6.79 whatever the outcome. (Profit because you’re utilising the free bet)
£6.79 – £0.45 = £6.34 profit.
Now that may have helped or it may have just pure confused if the odds and numbers don’t line up right.
Tell you what – if you like – screengrab and email your completed bet slip for these bets/lays at the bookie and Betfair and I’ll figure out where you’re at!
Chris, Thank you for the detail in your ebook. It helps to clarify things for me. I am in the process of working my way through the bookie offers on “Bonus Bagging” and have become clearer thanks to your ebook. One question if I may. In working out the true profit and loss position, I think I would have to include the deposit to each of the bookies when working out the true profit.
As an example, my first bet was with Paddy Power, with an initial deposit of £10 to gain a free bet of £10. The qualifying bet lost 50p. but the follow up bet won £14.29. From this I deducted the commission of 71p. AND the initial deposit of £10. So if I am correct, the true profit on these two bets is £3.58. Is this right?
Hey Morrice: Glad you liked the eBook! :)
You could be right with your calculation but I’m scratching my head a bit because I don’t know the odds you’ve taken.
If you want to post again with the odds you took at the bookmaker and Betfair for your qualifying bet, and then for your £10 free bet (again bookmaker odds and Betfair odds) I’ll run through what’s happened and you can compare with your own calculations. No need to post what matches they were – just the back and lay odds.
I’ll stay tuned. :)