Turning over our deposit
As we mentioned earlier, deposited funds can't be immediately withdrawn from bookmakers. This is due to Australian anti-money laundering laws, requiring all deposited funds to be "turned over" (i.e. wagered) at least once. But how do we do this, without risking our own money?
The way we go about turning over our deposit at the lowest possible cost is incredibly similar to the process of converting bonus bets into cash. In fact, the only difference is we're now interested in the SR column, as opposed to the SNR column.
Head back over to Radar, and switch sort by to "SR". The bets will now be sorted by their SR value, allowing us to find the most efficient way to turn over our deposit.
When using the integrated bet stats exchange calculator, we'll want to keep the "Bet Type" set to "Stake Returned", as we're wagering with our own money.
Placing and tracking SR bets is the same as placing and tracking SNR bets, except you bet with your own money and choose "Stake Returned" when saving the play.
Other SR bets
Whilst turning over your funds is one type of SR bet, there are other scenarios where SR bets are relevant. These include:
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Promotional (qualifying) bets: These are bets placed with the intention of taking advantage of a bookmaker's promotion, such as a "bet $X get $Y in bonus bets" offer.
Promotional bets simply refer to any bet that has a promotion attached to it. This includes scenarios where getting a bonus bet isn't guaranteed, but dependent on the outcome of the event.
You're placing a bet with real money in hope of qualifying for a bonus.
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Mug bets: We'll cover account sustainability later, but for now, just assume it's not a good idea to exclusively place promotional bets.
Mug bets are bets placed with your own money, without any promotions attached. They're typically used to 'dilute' your betting activity, making it less obvious to bookmakers that you're a matched bettor.
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Value betting: This is a strategy where you identify bets that are priced higher than their true probability of occurring. By placing these bets, you aim to exploit the bookmaker's odds and generate a profit in the long run.
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Arbitrage betting: This is a strategy that involves placing bets on all possible outcomes of an event across different bookmakers (or backing at higher odds than the lay odds) to guarantee a profit, regardless of the outcome.
This is made possible by the differences in odds offered by different bookmakers.
Withdrawing our profit
Once we've turned over our deposit, any funds generated from our betting activity can be withdrawn. This includes any profits made from SR bets, as well as any bonus bets that have been converted into cash.
It's important to note that withdrawal times can vary depending on the bookmaker and the chosen withdrawal method. Some methods may offer instant withdrawals, while others may take several days to process.