If you know anything at all about matched betting, you’ll know that sports books’ promotional offers are a vital element.
However, if you’re not completely aware, we’ll cover the basics of promo offers before looking at the different types used by online sportsbooks.
Better yet, we’ll finish the article by explaining how you can turn promo offers like these into guaranteed profits, all thanks to matched betting.
- What Are Promo Offers?
- How Do Sportsbook Promo Offers Work?
- Free Bet
- Risk-Free Bet
- Deposit Match
- Profit Boost
- Reload Offer
- How to Turn Promo Offers Into Profits With Matched Betting
- Getting Started in 5 Easy Steps
1. What Are Promo Offers?
Promo offers are marketing tools used by online sportsbooks to attract new customers or retain existing ones. You might have heard examples used like ‘Bet $5 get $150 free bet’ or ‘Your first deposit matched, up to $100’.
With the recent changes in law, online sportsbooks can now operate more freely. And the competition for custom is fierce. Because of this, promo offers are becoming more generous than ever, making risk-free matched betting an increasingly profitable side hustle across the US.
Promo offers come in all shapes and sizes. In this article, we’ll look at 5 of the most popular types of promo offers and how they can be turned into a profit with matched betting.
2. How Do Sportsbook Promo Offers Work?
Sportsbook promo offers are marketing materials given out to attract potential customers. These incentives and bonuses can come in various forms and provide individuals with an excellent opportunity to enhance their online betting experience and potentially earn extra income.
In this article, we’ll look at 5 of the most popular types of promo offers and how they can be turned into a profit with matched betting.
3. Free Bet
Also known as:
- Bet credits
- Free plays
- Bonus bets
Free bets are a popular promo offer given to new customers. They are often given as part of a welcome bonus when you open a new account with an online sportsbook to encourage both a signup and an initial bet. The free bet is “unlocked” when you place your first bet.
For example, with the below promo offer “Bet $5 get $150”, you will receive a free bet worth $150 after you have deposited, bet $5, and the event has finished.
While the $5 you bet is your own money*, it can be protected with matched betting. Then, the free bet you receive following this first bet lets you stake a specified amount (in this case $150) on an event without that amount being deducted from your account.
*Remember: When you do matched betting, you can cover all outcomes of an event to remove risk. Then, use the free bet to make a guaranteed profit. We’ll look at how to do this in more detail later in this blog.
4. Risk-Free Bet
Also known as:
- No sweat bets
- No regret bets
- First bet on the house
Although similar to a free bet, risk-free bets are slightly different in that you stake your own money, rather than being given an amount to wager on an event. This means that if the bet wins, you keep the returns (as normal). However, if the bet loses, the sportsbook will reimburse you the value of your stake. This is usually given in the form of free bets*.
Here’s an example of a risk-free bet: “Bet $100 on the NBA get your money back as free bets if it loses”.
Risk-free bets are great because they are basically a free go at betting. But even better than that, you can use the risk-free bet when matched betting to guarantee yourself a profit.
*Remember: Although named ‘Risk-free bets’, they are not entirely risk free (unless converted through matched betting). This is because if your bet loses, you are usually not rewarded with $100 of withdrawable cash, but instead $100 in free bets, which you could then go on to lose.
5. Deposit Match
Also known as:
- Deposit bonus
This type of promo offer is fantastic because it is so simple! The sportsbook will match the amount of cash you initially deposit into your account. For example: We will match your first deposit (up to $250). The bonus is usually given in the form of free bets and is often capped at a certain limit.
When Caesars Sportsbook launched in 2022, they offered new users one of the most generous deposit matches ever seen…an eye-watering deposit match of up to $3,000!
6. Profit Boost
Also known as:
- Winnings boost
This promo offer brings additional winnings if your bet wins. That’s right: The sportsbook will pay boosted returns on your winning wager. This will often be as a percentage increase, so a 50% profit boost will get you 50% more profit for the same stake. Profit Boosts are often offered on specific events.
For example, there is a 50% Profit Boost offer on the Dallas Cowboys to beat the Baltimore Ravens. If the odds were +100, a winning $50 bet would usually bring a return of $100. However, with the profit boost offer above, you would receive $125.
7. Reload Offer
Also known as:
- Ongoing offers
This type of promo offer is for existing sportsbook customers rather than brand new signups. Reload offers are generally given out once the welcome offer/s have been used and are designed to encourage repeat custom and keep users engaged with the sportsbook.
For example: Place a pre-game moneyline wager on any NFL team and receive 100% of your stake back if they lose in overtime/shootout (up to $700).
Reload offers are uploaded regularly which means that there are ongoing opportunities to extract cash from long after signing up. Reload offers are especially useful for those profiting from matched betting (aka "free bet conversion") over a longer period.
Remember: Reload offers can bring a higher element of risk than welcome/sign up bonuses. This is because they're often less 'black and white' and rely on more 'if this, then that'.
8. How to Turn Promo Offers Into Profits With Matched Betting
What is matched betting?
Matched betting is a risk-free betting strategy in which an individual can ensure a profit from bets; win or lose, on a range of sports and markets.
With the matched betting technique, you place multiple bets to cover every possible outcome of an event to unlock a sportsbook promotion. For new customers, this promo offer usually takes the form of a free bet. You then repeat the process but use the free bet to guarantee a risk-free profit.
Also known as free bet conversion, matched betting originated in the UK in 1999 as a way for Brits to ‘beat the bookie’. As more and more people discovered the profit potential of matched betting, it exploded in popularity and to date, 400,000+ Europeans have used the strategy to turn promo offers into risk-free profits.
Matched betting is now possible in 26 US states (and counting!), and thousands of Americans who are looking for a risk-free, flexible side hustle, are signing up to dedicated platforms every single month.
9. Getting Started in 5 Easy Steps
Whether you're a seasoned sports bettor or have never placed a wager in your life, the ProfitDuel platform has everything you need to turn promo offers into real cash. We have all the guides, software and support you need to earn $1,000s each month with matched betting.
And 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 how to lock in $100+ of profit in less than 60 minutes.
Earn $100+ in under 60 minutes matched betting with ProfitDuel
- Sign up for the ProfitDuel Free Trial (5 mins)
- Read our 3 welcome guides (30 mins)
- Place your qualifying bet (hedged) (10 mins)
- Place your free bet (hedged) (10 mins)
- Wait for your $100 - $200 profit (exact figure varies by state)
Once your trial has ended, take the next step to unlock more matched betting opportunities worth $1,000s.