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New Yorkers: How to make $7K guaranteed from these signup offers
Mobile sports betting just launched on Jan 8th in NY. The first four sportsbooks to launch are DraftKings (DK), FanDuel (FD), Caesars (CZR), and BetRivers (BR). Each has sign-up offers that can be hedged in a way to guarantee profit. There’s a certain way you need to hedge each promotion, and there’s a certain order you need to follow to max out your winnings and guarantee $7K.
Depending on how the bets play out, you’ll need anywhere from $9,250 - $15,750 to do this. The size of the winnings scale with the size of the bets. If you don’t have that much to commit, you just won’t make as much. You don’t need to rush on this. Most of these sign-up offers are good until the end of January. Take time to understand the approach before rushing in.
This technique of promotion hedging is called Matched Betting. It not only works for the sign-up offers, but also for most of the follow-up promotions.
Offers Overview
CZR - $300 Site Credit for signing up and 100% deposit match in Site Credit up to $3,000. Be sure to use the promo code listed on the app/website.
FD - $1,000 Risk Free Bet. This is automatically applied to your first wager.
BR - $250 Site Credit deposit match. Be sure to use the promo code listed on the app/website.
DK - 3 offers. The first two are based on your deposit.
20% deposit match, up to $1,000 in Site Credit on a $5,000 deposit.
A Risk Free Bet, equal to the amount you deposit, up to $5,000. The Risk Free Bet is only available if your first deposit is at least $1,000. Unlike FD, the DK Risk Free Bet must be opted-in before you can place it. Do not opt-in until you are ready to place the Risk Free Bet (more on this later).
Make your first bet a $5 bet. If it wins, you get $200 in free bets.
Risk Free Bet: wagering cash from your bankroll, but if it loses you get a refund of either Site Credit or a Free Bet
Free Bet: only winnings returned, not the bet amount.
Site Credit: bet amount and winnings returned. *Site Credit can not be withdrawn until the playthrough requirement is met.
How much to deposit and where
In order to maximize your returns you need to make the following deposits. All of these deposits can be scaled down and you do not need to do them all at once. You can start with just two.
Deposits for the sign up offers:
CZR $3,000 deposit (approx $3,000 profit)
FD $1,000 deposit (approx $700 profit)
DK $5,000 deposit (approx $3,450 profit)
BR $250 deposit (approx $250 profit)
Additional deposit to maximize the DK $5,000 Risk Free Bet. Deposit can be made later. This is outlined below.
Up to CZR $6,500 additional. Exact amount varies.
Getting Started
First, know that if sportsbooks suspect that you are taking advantage of them, they can and will limit you. This includes promotion banning and limiting your maximum bet size. Avoiding sportsbook limits is a big topic and worth a whole other post on it’s own. For now:
Stick to the main lines: Moneyline, Spread, and Total. Avoid player props and alternate lines.
Avoid small markets like Tennis.
Round your bets so that it’s less obvious that you are calculating a specific hedge bet. Instead of betting $23.74, bet $25. Instead of betting $2,356.22, bet $2,350.
Don’t withdraw immediately after depositing for a promotion. That is a clear sign you are just chasing promotions. Wait a week or more.
Never hedge a promotion on the same book.
Phase A - BR & DK
$250 deposit into BR and $5,000 deposit into DK.
On BR: Activate the $250 bonus. This might take 48 hours to appear after your deposit.
On DK: Place the $5 to win $200 in Free Bets. Do NOT opt in to the $5,000 Risk Free Bet on DK yet. This bet must be a moneyline bet and only applies until Jan 10th (this will likely be extended–check the Terms and Conditions to be sure). Place the hedge bet with BR. Keep the BR hedge to -200 odds or longer so that it counts towards Site Credit playthrough. For example, -175 and +150 qualifies, but -350 and -250 do not.
If the DK bet loses and you do not get the $200 Free Bet move to step 4. If you receive the $200 Free Bet, hedge it with BR to continue the BR Site Credit playthrough requirement. BR odds must be -200 or longer for BR Site Credit playthrough. Profit ~$150
On BR: Place a Site Credit Bet for the remainder of the $250 hedging with DK. BR bet must be -200 or longer. DK odds must be -300 or longer for DK Site Credit playthrough. Profit ~$250 on BR. Running profit ~$400.
Phase B - FD & DK
$1,000 Deposit into FD
5. Place the FD $1,000 Risk Free Bet and hedge it on DK. DK odds must be -300 or longer. Do NOT use bonus funds on FD and do NOT opt in to the $5,000 Risk Free Bet on DK.
6. If your FD bets wins, skip to step 6. If the FD bet loses you will get a Site Credit refund of $1,000. This may take up to 72 hours to receive. Hedge the $1,000 of FD Site Credit vs DK, again DK odds must be -300 or longer. Hedging both of these bets on DK continues the required playthrough of the DK’s $1,000 Site Credit. Profit ~$700 from FD and ~$100 on DK. Running profit ~1,200.
Phase C - DK Risk Free Bet & CZR
$3,000 Deposit into CZR
Note: the Risk Free Bet from DK depends on your deposit (see above). And is maxed at $5,000.
7. Opt-in to the DK $5,000 Risk Free Bet and hedge it on CZR. Depending on the odds available at the time you bet, this hedge bet amount will be in the $5,000 - $12,500 range. This is where you may need to deposit more into CZR. Keep the CZR hedge to -300 odds or longer so that it counts towards Site Credit playthrough. For example, -275 and +150 qualifies, but -450 and -350 do not. The hedge on CZR will likely complete the entire CZR rollover requirement.
8. If your DK bets wins skip to step 8. If the DK bet loses you will get a Free Bet refund of $5,000. This may take up to 72 hours to receive, and only last for 7 days. Hedge on CZR again. ~$2,000 profit from the DK Risk Free Bet and ~$3,000 from the CZR deposit match. Running profit ~$6,200.
Phase D - Finishing DK
9. DK Site Credit (“DK Dollars”) has a different playthrough requirement than the other books. To convert all of the Site Credit from their sign-up promotion, you need to make $25,000 worth of bets with DK. This can take a while. The best way to do is #1) place hedge bets with DK when matched betting the other sportsbooks’ follow up promotions (e.g. profit boosts), and #2) opt-in on DK’s follow up promotions, hedging them on other books. There is a deposit match tracker in DK that you can use. ~$1,000 profit from the DK deposit match for a running total of ~7,200.
Click here for a comment in the daily promos thread with a detailed breakdown on MGM, and how to make $1,000 off the sign-up offer.
Continuing Past Sign-up Offers
Sign-up offers are some of the most profitable available. However, it is easy to continue profiting after that. This includes profit boosts, double your winnings, bet and gets, loss insurance, and many more.
FAQ
Why do sportsbooks do this? (This sounds too good to be true.)
Sportsbooks offer promotions to get new customers and retain existing ones. They know that in the long term, they will make money off on the average gambler. It’s not that different from bank and credit card sign-up offers, except there’s a lot more money to be made.
How much money can I make doing Matched Betting?
You won’t be able to quit your day job, but it can be a sizable side-hustle. A lot depends on how much money you can commit to Matched Betting to start with and what sportsbooks are available in your state. Many can make $1,000 or more a month even after sign up offers.
What’s the catch? Is there any risk?
There’s no catch. The biggest risk to be aware of is human error. For example, placing a bet on the wrong team or for the wrong amount. So, don’t rush, take the time to understand the promotions, read over the terms and conditions, and double check your bets.
If you want more detail on hedging a Risk Free Bet, see this post:
https://www.reddit.com/r/sportsbook/comments/rxwlyv/new_yorkers_you_have_one_chance_to_get_these_sign/?utm_source=share&utm_medium=web2x&context=3Reach directly out with any questions and I can help.
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