What is Matched Betting?
Matched Betting is a side hustle that converts sportsbook promotions into withdrawable cash. Examples include promotions such as Sign-up offers, Deposit Matches, Free Bets, Profit Boosts, and many more.
How does it work?
Sportsbook promotions tilt the odds and payouts in the favor of the bettor. To profit from these promotions, you place one bet using your promotion, and then place a ‘hedge’ bet with a different sportsbook. These bets are ‘matched’ in a way that guarantees a profit, no matter who wins.
Note that Matched Betting is different from gambling. Gambling means that you can lose money if a certain outcome happens. With Matched Betting, you don’t care what happens because you make the same amount of money either way.
Example:
DraftKings gives you a $50 Free Bet for the Yankees / Red Sox game.
You place that $50 Free Bet with DraftKings on the Yankees.
You also place a $25 with FanDuel on the Red Sox. This is your hedge bet.
There are two outcomes to this game, the Yankees win or the Red Sox win:
If the Yankees win, you win $50, but lose your $25 Red Sox bet. You net a profit of $25.
If the Red Sox win, you win $25. You don’t lose any money with DraftKings because it was a Free Bet.
So, in either outcome, you are guaranteed to profit $25!
This is a simple example to illustrate the core concept behind Match Betting. Profits are often higher for Free Bets, and the actual bet amounts will depend on the odds.
Why do sportsbooks do this? (This sounds too good to be true.)
Sportsbooks offer promotions to get new customers and retain existing ones. They know that in the long term, they will make money off on the average gambler. It’s not that different from bank and credit card sign-up offers, except there’s a lot more money to be made.
How much money can I make doing Matched Betting?
You won’t be able to quit your day job, but it can be a sizable side-hustle. A lot of DarkHorse Odds members clear $1,000 every month. Some do much more than that.
Who is Matched Betting right for?
Matched betting is great for anyone interested in a profitable side hustle. You need to be in a State (or Province) that allows online sports betting and you need to be of legal age to place sports bets.
https://about.darkhorseodds.com/guide-index/guides
