Matched Betting

Matched betting is a strategy that takes advantage of sportsbook promotional offers, such as bonus bets, deposit matches, and odds boosts, by placing offsetting wagers on both sides of an event to lock in a guaranteed profit regardless of the outcome. Unlike traditional sports betting, matched betting does not rely on predicting winners or having any handicapping edge. Instead, it treats sportsbook promotions as the source of value and uses basic mathematics to convert those promotions into cash with minimal risk.

The process typically involves two bets: a qualifying bet placed at one sportsbook to unlock a promotional offer, and a hedge bet placed at a second sportsbook on the opposing outcome. When executed correctly, the losses on one side are offset by the wins on the other, and the promotional value becomes the bettor’s profit. The key is finding events with tight margins between opposing odds so that the cost of hedging is minimized, allowing the bettor to retain as much of the promotional value as possible.

Example

A sportsbook offers a “Bet $50, Get $50 in Bonus Bets” promotion. You place a $50 qualifying bet on Team A at -110 and simultaneously bet $50 on Team B at another sportsbook at +105. Regardless of which team wins, your net loss on the qualifying bets is small (a few dollars due to the vig built into both sides). You then receive the $50 bonus bet. You place the bonus bet on an outcome at +100 at the original sportsbook and hedge it at the second sportsbook. Since bonus bets typically return only the profit (not the stake), a $50 bonus bet at +100 would yield $50 in profit if it wins. After hedging, you lock in roughly $20 to $25 in guaranteed profit from the promotion, depending on the odds available for the hedge.

Key Points

• Low risk, not no risk: Errors in calculation, misreading promotion terms, or failing to place the hedge bet promptly can lead to unintended losses.
• Dependent on promotions: The strategy is only as profitable as the available offers. As sportsbooks reduce promotional spending, opportunities become scarcer.
• Account restrictions are common: Sportsbooks may limit or close accounts that consistently exploit promotions without placing regular recreational bets.
• Requires careful attention to terms: Every promotion has specific conditions, including minimum odds, rollover requirements, and expiration dates. Overlooking these details can void the bonus.
• Legal and widely practiced: Matched betting does not violate any laws, though it may violate a sportsbook’s terms of service, which can result in account limitations.