A safe bet
Another champion Aussie effort was made by a person signing himself as "Abeyant" on the Australian Frequent Flyer forum, who used his NAB Platinum Visa card to gamble on very low-risk bets.
Some credit cards don't treat gambling purchases as cash advances, which don't earn points, but rather as actual purchases – which then count towards points and also qualify for the interest-free period on most cards.
Abeyant maxed out his card's $30,000 credit limit to buy $30,000 dollars of credit in a CentreBet account.
He then redrew on his home loan to pay off his credit card and dump more money into CentreBet, until his account balance was up to around $200,000.
Then it was just a matter of finding extremely low-risk bets to place the money on – bets which were basically 'even money'.
"The night before the (2010 Federal) election I put the $200,000 on ALP (Julia Gillard) to retain the federal seat of Lalor paying $1.01 for every $1 bet," Abeyant said.
With Julia Gillard retaining her seat, this safe bet delivered 132,000 Qantas Frequent Flyer points plus a bonus $2000 in winnings – at which point Abeyant withdraw his funds from CentreBet to pay off his home loan again.
"I've done this over a number of elections; both state, federal and US Presidential," he explained. "US election betting basically goes on whether the Democrats or Republicans will win a particular state. So far I've amassed close to 550,000 points in just over 2 years just from this particular strategy."
Don't go rushing out to try this trick: the NAB has since changed its credit card rules to prevent gambling usage from accruing frequent flyer points.
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Clever tricks to pile up points
Although this strategy and result is not possible these days, a $200,000 bet would land you 40,000 Bet Easy points which could be converted to 20,000 velocity points Would it be worth it ?
