Free Bet Conversion: How it Works and How to Get Started

Man on his armchair converting free bets on his laptop

Free bet conversion has become one of the US's fastest growing side hustles in recent years, and it isn't hard to see why.

Helping everyday Americans make guaranteed profits in the $1,000s each month using a clever technique that cancels out risk, free bet conversion actually involves no ‘gambling’ at all.

But what exactly is free bet conversion? How does it work? And how can you get started making money with it as a beginner?

 

1. What is Free Bet Conversion?

Free bet conversion is a risk-free profit-making strategy in which a person places bets to cover every possible outcome of an event to unlock a sportsbook promotion - most often a free bet (or ‘free play’). They then repeat the process using the free promotion to guarantee a risk-free profit.

Also known as matched betting, free bet conversion was originally introduced in the UK in 1999 as a way for everyday Brits to ‘beat the bookie’. To date, more than 400,000 Europeans have used free bet conversion to earn risk-free profits.

Now available in 26 US states (and growing), thousands of Americans seeking a risk-free, flexible side hustle sign up to matched betting platforms each month.

 

2. How Does Free Bet Conversion Work?

Free bet conversion works by turning promotional sign-up offers into withdrawable risk-free cash. Put simply, it involves these 5 steps:

  1. Registration: Begin by signing up with a sportsbook that's offering a free bet or signup promo, e.g. ‘Bet $5 get $150’.

  2. Qualifying Bet: Place a bet using your own funds on a team/player to win (where there are only two outcomes). E.g. player A to win a tennis match.

  3. Hedge Bet: Counterbalance your initial bet by wagering on the opposite outcome. E.g. Team B to win the tennis match. You've now covered all potential outcomes.

  4. Repeat: After the match has finished, you'll receive your free bet and your original stake. Now repeat steps 2 and 3 on different events using your free bet on one side.

  5. Profit Withdrawal: Now all there is left to do is withdraw your guaranteed winnings after your sportsbook account credits them.

 

3. How Much Money Can You Make with Free Bet Conversion?

The amount you can earn with free bet conversion varies based on a handful of factors, such as time invested and the welcome offers available (different offers will return a different percentage of the original free bet value).

However, in the United States, the average user makes between $300 and $2,000 per month with free bet conversion.

For those dedicating a few hours to a free bet conversion side hustle each week, $500 to $1,000 per month is achievable using a powerful matched betting platform.

But for those looking to majorly upgrade their income, signing up to the affiliate programs that certain matched betting companies offer can help members earn as much as $5,000+ extra per month with minimal start-up costs.

 

4. Are there any Costs with Free Bet Conversion?

Free bet conversion is an inexpensive and easily accessible side hustle for most Americans, requiring just two costs:

a) Platform Subscription

This is the cost you'll pay monthly or yearly when you join a free bet conversion platform (more commonly referred to as a matched betting platform). Sure, it is possible to try free bet conversion without one, but these platforms make the whole process way easier and more profitable.

A good platform will throw in handy tools like a Dutch Matcher, which instantly spots the most profitable free bets to convert in your area (using the 'dutching' process), and a Profit Tracker, which breaks down earnings to help plan your long-term goals. If you're serious about spending your time wisely, investing in a free bet conversion platform just makes sense.

b) Bankroll

Your bankroll isn't exactly a cost, but acts more like a cash deposit that you initially put down to trigger sportsbook promo offers. As you go through the free bet conversion steps, you get this money back once your picks match up.

But here's the kicker: different promos require different minimum bankrolls. So, while you can make your first profits with as little as 50 bucks in your bankroll, the bigger bankroll you build, the bigger potential profits you unlock.

 

5. What Type of Promo Offers Can You Use with Free Bet Conversion?

If you're new to free bet conversion, you might be surprised to know that it isn't just ‘free bets’ you can convert with this process. There is actually a wide range of sportsbook offers you can extract money from risk-free with this process.

Five of the most common include:

a) Free Bet

These are often offered as part of a welcome bonus when you sign up to a sportsbook. Free bets allow you to stake a specified amount on an event without that amount being deducted from your account.

These are often unlocked when you first deposit, like the example below with Bet365.

Bet365 risk-free bet offer

  • Also Known As: Bet credits, free plays, bonus bets.
  • Example: ‘Bet $5 get $150 free bet’.

 

b) Risk-Free Bet

Risk-free bets are slightly different to free bets. Rather than being gifted a sum to stake on an event, with a risk-free bet, you stake your own money.

If the bet wins, you keep the returns (as usual), but if it loses, the sportsbook will reimburse you the amount (usually in free bets).

Hard Rock Bet risk free bet offer

  • Also Known As: No sweat bets, no regret bets, first bet on the house.
  • Example: Bet $100 on the NBA get your money back as free bets if it loses.



c) Profit Boost

With this promo, the sportsbook will offer boosted returns on your bet if it wins. This will often be as a percentage increase, so a 50% profit boost will get you 50% more profit if it comes in for the exact same stake. These are often offered on specific events.

  • Also Known As: Winnings boost.
  • Example: 50% Profit Boost on the Dallas Cowboys to beat the Baltimore Ravens. If odds were +100, $50 would normally return $100. But with this profit boost, you would return $125.

 

d) Reload Offer

This type of promo is offered after the person has already signed up to the sportsbook and used their welcome offer/s.

Designed to keep users engaged, reload offers are regularly uploaded, meaning you can extract cash from long after signing up. The image below shows a reload offer by ESPN Bet that can earn users $700 profit using free bet conversion. 

ESPN Bet reload offer

  • Also Known As: Ongoing offers.
  • Example: Get a $50 free bet for each week you bet $20 or more in May.

 

e) Deposit Match

With this promo the sportsbook will match the amount of cash you initially deposit into your account (often in the form of free bets and capped at a certain limit).

When Caesars Sportsbook launched in 2022, they offered new users one of the most generous deposit matches ever seen, offering up to $3,000 deposit matched.

Superbook Bet deposit match offer

  • Also Known As: Deposit Bonus.
  • Example: We will match your first deposit (up to $250).

 

6. 5 tips to Maximize your Profit with Free Bet Conversion

Before you kick off your profit-building journey with free bet conversion, knowing a few simple tips can go a long way. Below we've pulled together five of the most crucial:

  1. Do your Research: Keep learning to streamline your skills and maximize your earnings Check out our matched betting resource centre for the top questions on the topic, or sign up to ProfitDuel for exclusive guides, walkthrough videos and one-to-one support.

  2. Check Your Selections: The only way it's possible to lose money with free bet conversion is through human error. It may sound obvious, but double-checking selections is the one surefire trick to ensure you don't incur any losses.

  3. Use Tools and Calculators: Tools and calculators make the free bet conversion process 100x easier. From free bet conversion calculators that calculate your potential winnings, to Dutch Matchers (AKA odds matchers) that scan, rank and set up all profitable opportunities, matched betting without tools is like skiing without skis.

  4. Monitor Your Profits: Once you start earning profits, it's important to keep track of them to know where you stand financially and plan for future offers. While basic spreadsheets can suffice, purpose-built profit trackers offer next-level insights.

  5. Select a Reputable Platform: The most crucial tip for any matched bettor is choosing a solid platform. Opt for one that combines cutting-edge technology, abundant opportunities and robust customer support with a proven track record to give yourself the best chance of not only making serious profit, but enjoying the ride. 

 

7. How to Get Started with Free Bet Conversion

Getting started with free bet conversion is easy.

Whether you've never placed a wager in your life or are an avid sports bettor, the ProfitDuel platform has allthe guides, software and support you need to earn $1,000s each month with free bet conversion without moving from your couch.

The best part? We're offering a 14-Day Free Trial to new members to show you just how easy it is. In this trial we'll walk you through locking in over $100+ of profit with less than 60 minutes of work.

How? Here's how:

Earn $100+ in Less Than 60 Minutes with Free Bet Conversion

  1. Sign up for the ProfitDuel Free Trial (5 mins)

  2. Read our three welcome guides (30 mins)

  3. Place your qualifying bet (hedged) (10 mins)

  4. Place your free bet (hedged) (10 mins)

  5. Await your $100 - $200 profit (exact figure varies by state)

Still happy with us after your trial? Stay on board to unlock more free bet conversion opportunities worth $1,000s.

ProfitDuel Free Trial

EARN $100+ WITH OUR FREE TRIAL

Sign up for our 14-day free trial and earn $100+ risk-free. Still happy? Stay on board to earn $1,000's more. 

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*DISCLAIMER: We're legally required to state that there is no guarantee of specific results each month. The amount of money that you earn can vary dependant on the time and effort that you commit each month.