FanDuel just increased their new user offer from a $1000 risk free bet to a $2500 risk free bet. This promotion can be hedged for a guaranteed profit, and now that the offer is bigger than previously you can make even more money.
In order to make this risk free, you need to have an account with another sportsbook that allows you to hedge the FanDuel bet. Draftkings is a great book to get started with. You will also need a considerable bank roll.
Step 1 (Account Funding and Game Selection):
deposit $2500 in to FanDuel and deposit $3085 into Draftkings
Find a game with adequate odds, in this example we will be using the NY Mets v ATL Braves MLB game tonight at 7:20pm est.
The Moneyline for this game in NY mets +164 / ATL Braves -175
Step 2 (Bets 1 and 2):
Now that you have found a game and loaded your accounts you need to actually place the bets.
Your first bet you place will be your $2500 risk free bet on Fanduel. You will bet your $2500 in Fanduel on the Mets at +164. If this wager wins you will be profit $4100.
You will place you hedge bet with draft kings. You will place your $3085 on the Braves at -175. If this wager wins you will profit $1765.
Scenario 1, Mets win (no more bets needed, Profit Realized):
If the Mets win, you are able to collect $1015 net profit both bets and you are done. This is because you profit $4100 on Fanduel, but loose $3085 on DK. This brings your total net profit to $1015. You need to take no further action.
Scenario 2, Braves win (two more bets required to realize profit):
lets say that the Braves win instead of the Mets. This means that you profit $1765 on Draftkings, but "lose" $2500 on Fanduel. You are technically in the hole $735 right now.
However, because the Fanduel bet was risk free you are refunded your $2500 in free bets. In order to turn those free bets into profit and turn net positive, we need to place two more bets. One bet will be with the $2500 free bets (Fanduel), one will be a hedge (Draft Kings).
Step 3 (Bets 3 and 4):
Now that you have been refunded the free bets, you need to hedge those into cash. You find another game, this time we locate the DET Tigers +205 v PHI Phillies -235.
You bet your $2500 in free bets on Detroit at +205 on Fanduel
You bet $3595 on Philadelphia at -235 DraftKings
Scenario 3 (No more bets needed, Profit Realized):
If Detroit wins, you profit $5125 from the free bet on Fanduel, but you have to subtract you $735 loss from Scenario 2, and your $3595 hedge wager on Draft Kings. This leaves you with a total net profit of $795
Scenario 4 (No more bets needed, Profit Realized):
If Philadelphia wins, you profit $1530 on Draft Kings and loose nothing on your Fanduel wager because it was a free bet! However, you have to take out your $735 loss from scenario, so you are left with a total net profit of $795
As you can see, if you hedge your bets correctly you can make a sizeable profit from this offer. Depending on what state you are in you, you can make thousands in initial sportsbook sign up offers. Repeat offers can also bring in thousand per month. Matched betting is probably the easiest and most profitable side hustle in the United States.
