Matched Betting Experiment - Day 1

*** TLDR – I’ve decided to experiment with matched betting and I’m going to share my experience on this blog. I originally started sharing my journey on Reddit, but have added it here as well for visibility. 

I’ve been watching this sub and looking for a side hustle for quite a while. My main issue is that I already work over 40 hours a week. So I don’t have a lot of extra time. I will be honest. I may be a bit too lazy or lack the motivation to pursue some of the more lucrative side hustles I’ve seen posted.

On Sunday, I came across an ad right here on Reddit regarding matched betting. I’ve heard of this but never thought much of it. But for some reason, they caught my attention and I started to research how it works.

Basically what you do is always place 2 opposing bets for the same game which cancel each other out. This guarantees a minor loss of normally less than a dollar. The purpose of these bets is to qualify for free money offered by the betting company referred to as the sportsbook. So no money is actually made through betting. The promo offers supply all of the profit.

The ad I ran across was for a company called ProfitDuel. The value they offer is that they show you the available promos and supply step by step guidance to take advantage of the offers. They also find the bets necessary to redeem the promo with little to no loss. You could do this research on your own, but I have no idea how long that would take.

So after a full day of research, I jumped in. ProfitDuel isn’t cheap. It’s $99 per month, but they have a promo for half off the first month. I logged in and read many of the starter guides to help my understanding. I already had a basic grasp of the process due to my day of research.

So I’m ready to take advantage of my first offer. I choose an offer from Draftkings who is offering $200 in free bets after your first $5 bet.

I should mention now that ProfitDuel recommends having around $200 available for your “bank roll” in order to get started. I decided to dedicate $1000 to my experiment.

Now understand that I’m a total noob and don’t know exactly what I’m doing. For no particular reason, I deposited $25 to Draftkings. But only a $5 deposit was necessary. I use the tool provided by ProfitDuel to find a suitable bet. I found a game to bet on that night that would result in a $0.25 loss. But this bet fulfills my requirement to get the $200 in free bets. The $200 credit was loaded to my account immediately upon making the first bet.

Now you can’t just remove this free money. You must first bet it before you can make any withdrawal. So I go back to the tools and find another bet for Monday night. Now I assume the weekends are going to provide better options for these bets. But I’m too excited to wait.

Although I don’t know exactly what I’m doing, I put my faith in the tools. I find a bet which requires me to bet with DraftKings and another company call Bet Jack. The bet with Draftkings is made using the promo funds. Although I could use any amount, I went with the full $200. Now we always make 2 bets to cover any possible losses. The 2nd bet required me to bet around $552 dollars which I rounded up to $555. Now putting down this amount of money made me extremely nervous. I checked and double checked to make sure I was making the correct bets. ProfitDuel said that a bank roll of $350 was recommended for this transaction. I think maybe during the weekend there would be more options which would let you get the same results while betting less money. But, again, I did not want to wait.

So I wake up on Tuesday and quickly check to see what I’ve done. My $200 bet at Draftkings lost, so I lost my promo funds. But my $555 bet at Bet Jack won giving me $704.85 or $149.85 in profit. So what I’ve basically done is take the $200 in free betting and turned that into $149.85 in cash. ProfitDuel keeps track of all your trades and tells me that I made $144.75 on my first night of trading.

Now I know this post is way too long, so I’m leaving out 1 mistake I’ve already made. But I wanted to give a thorough recap of how my first day went with this experiment.

I’m going to lay out my expenses for the first day.

1 month of ProfitDuel - $49.50

DraftKings deposit - $25 (current balance after winning my $5 qualifying bet, $38.50)

FanDuel deposit - $15 (current balance $6.25)

Bet Jack deposit - $555 (current balance $704.85)

Current balance $749.60 – (spend) $644.50 = day 1 profit of $105.10

I’ll be back tomorrow with an update. Although my knowledge is limited, feel free to post any questions you may have. And definitely post any tips or advice you have for me.

 

If you’d like to try out the service, please use my referral link: https://affiliate.profitduel.com//idevaffiliate.php?id=204 (this will get you 50% off the first month)

Here are a couple YouTube videos that helped me understand the process.

https://www.youtube.com/watch?v=CylhWz-qjVE

https://www.youtube.com/watch?v=YP2-7td81hY

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