In sports betting, most people find themselves playing a game of chance. Managing risk and securing profits can be challenging, but not impossible, as there are a number of strategies to help you achieve these goals.
One of the most popular and effective approaches is “hedge betting”, a method that allows sports bettors to lock in guaranteed profits or minimize or eliminate losses by strategically placing additional bets. This blog will explore three key methods of hedging your sports bets: classic hedge betting, arbitrage betting, and matched betting.
Classic Hedge Betting is a strategy used in sports betting and other forms of wagering to reduce risk or guarantee a profit by placing bets on different outcomes of the same event. The idea is to offset or "hedge" your original bet by placing an additional bet on a different outcome.
The Classic Hedge Betting method is used by both new and experienced sports bettors where an event's outcome becomes uncertain or the odds change dramatically during the game. Classic Hedge Betting can also be used to lock in some profit regardless of the final result when an original bet is looking favorable.
Here’s how to hedge sports bets using the classic hedge betting method:
Note: Odds will differ greatly from game-to-game, and there won’t always be a guarantee of a profitable hedge bet. It’s always important to check the odds before you bet.
Arbitrage betting, or arbing, is a sports betting hedging strategy that allows you to take advantage of the differences in odds provided by different sportsbooks.
Sportsbooks set their odds based on the probability of a certain outcome, so if they disagree with one another on these probabilities, they will offer different odds. By exploiting these discrepancies across sportsbooks - arbs - and betting on all outcomes using these differing odds, you can ensure that your total payout will be higher than the total amount you wagered.
Here’s an example of how arbitrage betting works:
Note: Arbitrage betting opportunities can be rare and often disappear quickly as sportsbooks spot them and adjust their odds. Some sportsbooks set limits on how much you can bet, which can reduce your potential profit. They have also been known to restrict or ban accounts suspected of arbing.
Matched betting is a popular profit-earning strategy that allows bettors to earn guaranteed profit from the free bets and promotions that sportsbooks use to attract new customers or retain their existing ones.
It’s often referred to as "risk-free betting" because, when done correctly, it guarantees a profit regardless of the outcome of a sporting event. The idea is to use a combination of opposing bets to cover all outcomes of an event, ensuring that you a) unlock a sportsbook promo risk free and b) convert that promo into guaranteed cash, regardless of the result.
Let’s say DraftKings is offering new customers a ‘Bet $5 Get $150’ promo. To access the promo’s $150 free bet, you would first need to place a "qualifying bet" of at least $5, using your own money.
In this example, we’ll look at how to unlock the free bet and then convert it into guaranteed profit thanks to the matched betting method.
To do this, you follow the exact same process as before, placing two bets to cover all outcomes. However this time you would use your free bet from DraftKings on the first bet instead of your own money.
Once the game has ended and your bets have been settled, you will have won. No matter what happens in the game, you will profit from the free bet, thanks to matched betting.
The hedge betting methods we’ve looked at here each offer unique advantages. Classic Hedge Betting involves placing bets on opposing outcomes to protect your initial wager, Arbing exploits discrepancies in odds across different sportsbooks, and Matched Betting uses promotional offers to generate guaranteed returns with minimal risk. But which is the best method?
When comparing Classic Hedge Betting, Arbitrage Betting, and Matched Betting, it's clear that each method has its own advantages. Classic Hedge Betting allows you to reduce risk or secure some profit by placing additional bets when the outcome of an event becomes uncertain, but it often reduces overall profit margins.
Arbitrage Betting guarantees small profits by exploiting discrepancies in odds across different sportsbooks, but opportunities are rare, and sportsbooks may limit or ban accounts engaging in this practice.
Matched Betting, however, stands out as the best option because it offers a reliable, risk-free way to earn guaranteed profits by leveraging free bets and promotions offered by sportsbooks. Unlike the other methods, matched betting ensures consistent profitability without the need for rare odds opportunities or the risk of account restrictions, making it an ideal choice for both new and experienced bettors.
If you're ready to start earning guaranteed cash through hedge betting, the simplest and most effective way to do so is with matched betting. By taking advantage of sportsbook promotions, you can systematically secure monthly profits in the $1,000s, risk-free.
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