Matched Betting: What is an Online Sportsbook?

Online sportsbook displayed on an iphone and laptop

A Quick Introduction to Online Sportsbooks

Put simply, an online sportsbook is a digital platform that allows individuals to engage in sports betting by placing bets on various sporting events.

To attract new customers and retain existing ones, online sportsbooks offer profit boosts, free bets and promo offers. For example: bet $10 and get a $100 free bet.

These offers are gold dust.

At ProfitDuel, we've developed strategies, tools, calculators, training and support to help you convert these free bets and promo offers into guaranteed profit. 

An essential tool for every matched bettor, online sportsbooks are the platforms that allow users to place bets on various sports events and make a profit every time. 


How Online Sportsbooks Work

Online sportsbooks allow users to create an account, deposit funds, and start placing bets on various sporting events such as football, basketball, soccer, and horse racing.

These platforms offer different types of bets, including traditional win/lose bets, as well as more complex options like over/under and spread betting. 

With competitive odds and real-time updates, there are plenty of opportunities to lock-in guaranteed profits from free bets and promo offers.

Find out more about Matched Betting here.

There's also the option of finding arbitrage opportunities – another powerful way to lock-in guaranteed profits by placing two opposing bets with two different sportsbooks.

ProfitDuel makes it easy for matched bettors to find the best matches for their money-making strategies.

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Different Types of Bets That Can be Placed

The different types of bets that can be placed on online sportsbooks play a crucial role in helping matched bettors make money. These bets go beyond the traditional win/lose bets and offer more complex options that allow bettors to diversify their strategies.

For example, over/under betting involves predicting whether the total score of a game will be over or under a certain number, while spread betting involves predicting the margin of victory or defeat for a team.

These different types of bets provide opportunities for matched bettors to find favorable odds and maximize their profits.

Overall, the variety of bets provided by online sportsbooks and the comprehensive training and cutting-edge tools provided by ProfitDuel greatly contribute to the success of matched bettors in making guaranteed profits.


Matched Betting Tools and Calculators

To minimize the time needed and maximize their profits, savvy matched bettors rely on essential tools and calculators. These tools provide valuable assistance in finding suitable bets and calculating the necessary stakes.

Here's a brief overview of the best matched betting tools and calculators:

The Dutch Matcher

An essential tool for maximizing your profits from matched betting, the ProfitDuel Dutch Matcher uses state-of-the-art software that finds dutch bets between sportsbooks with lightning-fast odds updates. 

This sophisticated software compares, sorts and organises all matched betting opportunities available from over 100 sportsbooks, and displays them in an easy-to-use opportunity table.

The Dutching Calculator

Determine the exact amount to stake on each bet, ensuring a profitable outcome regardless of the result. The Dutching Calculator takes into account factors such as the odds, the stake, and the type of bet to provide accurate calculations.

The Profit Tracker

It’s easy to see how much profit you’re making matched betting with The Profit Tracker. Add amounts automatically – directly from any of the ProfitDuel tools – or manually to keep track of things.

Save Time. Increase Profits.

These tools and calculators are essential for matched bettors to streamline their betting process, increase efficiency, and ultimately maximize their profits.


Utilizing Promotions and Bonuses

Promotional offers and bonuses play a vital role in increasing profits for matched bettors. These offers provide an opportunity to maximize earnings by taking advantage of the incentives provided by online sportsbooks.

Firstly, promotional offers and bonuses can significantly boost a bettor's bankroll. Many sportsbooks offer welcome bonuses to new customers, which often include free bets or deposit matches. By utilizing these bonuses effectively, matched bettors can turn these sign up bonuses into valuable cash you can withdraw.

Sportsbooks often run promotions on specific events or markets, offering enhanced odds or cashback incentives. By keeping an eye on these offers and utilizing them strategically, matched bettors can find favorable odds and increase their chances of making a even more profits.

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Another advantage of promotional offers and bonuses is that they allow bettors to diversify their strategies. Sportsbooks may offer bonuses for different types of bets, such as accumulator insurance or risk-free bets.

By exploring these options, matched bettors can explore new betting avenues and potentially discover profitable opportunities they might not have considered before.

Promotional offers and bonuses can also act as a safety net for bettors. Some sportsbooks offer cashback or refund offers in case of certain outcomes, such as a goalless draw in a soccer match. Again, more ongoing money making opportunities.

In summary, promotional offers and bonuses are essential tools for making money from matched betting. They provide matched bettors with the opportunity to diversify their strategies and make money month-on-month.

By effectively utilizing these offers, matched bettors can optimize their earnings and make the most out of their betting experience.


Strategies For Effectively Using Promotions and Bonuses

To effectively utilize the promotional offers and bonuses provided by online sportsbooks, matched bettors can employ various strategies that maximize their profits and minimize their risks. Here are some effective strategies to consider:

1. Bankroll management: It is essential for matched bettors to have a well-planned bankroll management strategy. By allocating a specific portion of their bankroll to promotional offers and bonuses, bettors can ensure that they have enough funds to take full advantage of these offers without risking their entire bankroll.

2. Research and analysis: Before utilizing any promotional offer or bonus, matched bettors should thoroughly research and analyze the terms and conditions associated with it. This includes understanding any wagering requirements, minimum odds, or other restrictions that may apply. By being well-informed, matched bettors can make calculated decisions and choose offers that provide the most value.

3. Timing and planning: Promotional offers and bonuses are often time-limited, so matched bettors should carefully plan their betting activities to make the most of these opportunities. By keeping track of upcoming events or promotions, matched bettors can strategically place their bets and maximize their chances of profiting from the offers.

4. Matched betting software: Utilizing matched betting software can significantly streamline the process of finding suitable bets and calculating the necessary stakes. These software tools often have features that help identify the most profitable offers and guide bettors in placing their bets. By leveraging the power of technology, matched bettors can save time and increase their efficiency in utilizing promotional offers.

5. Diversification: To fully utilize the range of promotional offers and bonuses, matched bettors should diversify their betting strategies. This includes exploring different types of bets, such as accumulator bets or in-play bets, and taking advantage of offers specific to those bet types. By diversifying their strategies, bettors can increase their chances of finding profitable opportunities and maximizing their overall profits.

6. Record-keeping and analysis: It is crucial for matched bettors to keep a detailed record of their betting activities and the outcomes of their bets. This allows them to analyze their performance, identify patterns, and fine-tune their strategies. By continuously learning from their past experiences, matched bettors can improve their decision-making process and increase their long-term profitability.

By implementing these strategies, matched bettors can effectively utilize the promotional offers and bonuses provided by online sportsbooks. 


Which US States Currently Have Online Sportsbooks?

Currently, online sports betting is legal in several states across the United States. The legalization of online sports betting has been a state-by-state process, with each state having the authority to determine its own laws and regulations regarding sports betting.

As of 2024, the following states have legalized online sports betting:

  1. New Jersey (ProfitDuel live)
  2. Pennsylvania (ProfitDuel coming soon)
  3. Ohio (ProfitDuel coming soon)
  4. New York (ProfitDuel coming soon)
  5. Arizona
  6. Arkansas
  7. Connecticut 
  8. Delaware
  9. Illinois
  10. Nevada
  11. Colorado
  12. Indiana
  13. Iowa
  14. Kansas
  15. Kentucky
  16. Louisiana 
  17. Maryland
  18. Massachusetts
  19. Michigan
  20. Mississippi
  21. Montana
  22. Nebraska
  23. New Hampshire
  24. North Carolina
  25. Oklahoma
  26. Oregon
  27. Pennsylvania
  28. Rhode Island
  29. Tennessee
  30. Vermont
  31. Washington 
  32. Washington D.C. 
  33. West Virginia
  34. Wyoming

It's important to note that the legalization of online sports betting is an ongoing process, and more states are expected to join the list in the future.

Also, keep in mind that the regulations and requirements for online sports betting may vary from state to state. It's always advisable to check the specific laws and regulations of your state before engaging in online sports betting and matched betting as sportsbooks can determine your location through GeoComply technology.

ProfitDuel Premium Members have full access to all of the sportsbooks in each state.

More importantly, we have developed and tested strategies that can help you unlock guaranteed profits from every sportsbook in every state where online sportsbooks are legal and available.

Ready to join and find out how this powerful side hustle can help you make money online? Start your $1 trial here and lock in $100 completely free. We think it's the best $1 trial on the web, but don't take our word for it – hear more from some of our members here.

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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.