Matched betting is a theoretically sound strategy for bettors, but it has its shortcomings too. The strategy requires bonus bets to work, and your returns are limited by the amount of those bonuses. Then, most sportsbooks consider matched betting to be bonus abuse – and can withdraw bonus offers or suspend your account.
But there are alternatives. If you don’t have any bonus bets to use up, want to expand your betting scope, or just want to try something else, we have several alternatives to matched betting to try out. Before moving forward, we do have to note that none of these betting strategies are completely risk free. Each one is a gamble, but if done smartly, you can significantly reduce your chances of loss and try to turn a profit.
Best Matched Betting Alternatives
The basic idea of matched betting is that you cover all the outcomes in a game to ensure a profit. Using a bonus bet, you stake a bet on one outcome, you then fund a hedging bet on another outcome, locking in the wins regardless of what happens. You can even use a site like ProfitDuel to help in your matched betting. In theory, this can even double your money.
Take a simple $10 bonus bet and place it on a spread bet @ -110. That $10 will win $18.18, of which $8.18 is yours to keep and the $10 stake returns to the house. So, you only need to fund $4.28 of your own real money in a hedging bet against the spread on the other team @ -110. That is, you spend $4.28 to make $8.18 with either outcome and nearly double your money (91% profit on your $4.28). How can you make more profit? Well, you need a bigger bonus bet.
Observing those gains and principles, our experts wanted to find something with a similar potential to put you into the green. The following strategies each have their own strengths and shortcomings, which we will compare directly against the matched betting system. Plus, we will analyse the risks involved, and how “legal” they are at the top US sportsbooks.
#1. Dutching Futures or Alternative Markets
Dutching is more sustainable than matched betting, but it does not mitigate the possibility of loss as much as matched betting. The strategy can be used with many different betting markets, but for sports bettors, arguably the most popular is with futures bets. Dutching only works when there are at least 3-4 (preferably more) outcomes that have a good chance of winning. For instance, in futures bets when there are 4+ teams who can win the league. The odds should be long enough on all 4 to place bets on each of them to win, and make a profit regardless of who wins it. But you will need one of your chosen teams to win it.
Let’s say midseason you decide to dutch the Premier League title winner. Liverpool, Arsenal, Manchester City and Chelsea are all in the title race, and the odds are long on all of them. Calculate how much you need to bet on each to make a guaranteed profit, and you can bet as much as you like. The only risk? You can’t have the likes of Tottenham, Manchester United or anyone else sneak in and win the title. You will make money only if either City, Liverpool, Arsenal or Chelsea pull it off.
Dutching can also be done using alternative spreads, correct score bets, Half Time/Full Time wagers, and many more. Really, all you need is to find a market with loads of possible outcomes, and then cover the wagers you think have the best chance of winning. If the math adds up, you should be onto a surefire winner. NFL fans may find great success Dutching First Touchdown Scorer in games – just pick out the 3 or 4 most likely candidates and Dutch them.
Ultimately, dutching doesn’t bring the same profit margin as matched betting, but it is more sustainable and can be done more often. Plus, sportsbooks have no problem with dutching.
#2. Arbing at Betting Exchanges
Arbitrage betting is a bit similar to matched betting in that you lock in profits and can cover each outcome, but the problem is that it needs very specific conditions to work. You don’t need bonus bets, but you need a big enough discrepancy in the match odds to be able to pull it off. And even then, we have found that the best possible ROI is still around 3%. That is, if you are making arbitrage bets at conventional US sportsbooks. To make life easier, you can use arb betting software that does all the heavy lifting for you.
However, we would rather guide arbitrage bettors to betting exchanges, where the profit margin can increase dramatically. Apps like Novig, ProphetX, and so on, are marketplaces where sports bettors can name their price. The prices can fluctuate drastically, and if you time your bets right, you can create opportunities to lock in guaranteed profits.
The only danger with P2P betting exchanges is that you need a fellow bettor to buy your bets. So you will need to make your initial bets nice and early and watch the space as the betting lines shift. If a hedging bet comes at a favorable price, you can place your bet and that should lock in a much better return than 3%. It is usually over 5%, but can even go up to 10% if done right.
The dangers with arbing at betting exchanges is that you may not be able to sell your bets at a specific price. Or, the market may shift away from where you would like, crumbling any opportunity to place an arbitrage bet on your initial wager. Learning how betting exchanges work takes time, but the platforms are user-friendly and have guides to help you on your way.
#3. Live Bet Hedging and Cashout
During a game, odds can change drastically and open up great opportunities to hedge your bets. Timing is everything as far as live bets are concerned, and you have to be able to spot hedging possibilities nice and early before it is too late. Another great tool in your arsenal is the cash out function, which is offered at all the major US sportsbooks such as DraftKings, FanDuel, BetMGM, and so on. Live betting does come with its risks, as the game may take unexpected turns and twists.
Plus, the live betting markets will sometimes become unavailable during a game, specifically at key points that could have a huge impact on the result. You may also experience a temporary suspension of the cash out function. So be sharp for any opportunities and don’t take them for granted.
Our advice to any bettors is to download a mobile betting app to have quicker access to the live betting markets. Then, you can track the odds in real time and place your hedging bets when the price is right. You can do this by placing a pregame wager, and then look for a chance to hedge that bet mid-game. Do the hedging calculations before the game starts, so that you know when the odds are preferable, and how much you should bet to lock in a profit. That way, you won’t lose your money on the pregame wager.
Alternatively, if your pregame wager is winning, you can either let it run out the full game, or cash it out when the offer is good enough. When you are winning, you don’t need to hedge your bet. If you fear the bet will lose, then look for an opportunity to hedge your bet or cash out and cut your losses to a minimum.
#4. Hunting Sports Bonuses
You can enhance your bankroll tremendously if you pick up on any bonuses provided by the sportsbook. These bonus bets are not always just handed out to you, sometimes you will need to opt into specific promotions or make qualifying bets to unlock your rewards. Our top tip is to stay alert to any promotions and try to get the most out of your chosen sportsbook.
That can include referring your friends, participating in survivor pools or tournaments, and expanding your net to snap up bonuses from other sports. If you are signed up at Caesars Sportsbook or BetMGM, then you should check out their loyalty programs. Climbing the Rewards Tiers, you can receive bigger and better bonuses to stretch out your bankroll. At DraftKings or FanDuel, there are loads of player contests and tournaments related to the NFL, NBA, College Football and various other popular US sports.
Look out for bonuses on other sports too. You may find some promotions on specific games or leagues, that provide you with generic bonus bets – something you can use on your preferred sport. Look out, especially for odds boosts, parlay profit boosts and parlay insurance offers.
#5. Bets with More Coverage
Another way to maximise your bankroll and cover your bases is by utilising round robins and teasers. Parlay betting is extremely popular in the US, but it is by no means the only way you can crank up the odds on your predictions.
Round robins offer bettors the coverage they need to still swing for the fences but without the same risks. These are bets that combine numerous parlays so that even if 1 or 2 of your picks lose, you will still win some money. The top sportsbooks accommodate bigger round robins, and some even provide intriguing alternatives to those as well. The DraftKings Parlay tool also gives you progressive parlay options, a revolutionary concept that gives you some leeway on your parlay wagers.
Then, there are teasers, which allow you to adjust the lines on your spread bets. It only works with spread bets, and most commonly, teasers are used by NFL and NBA bettors. The idea is, that you can reduce the risk on all of the lines at once, though it will also shrink your potential returns. You can see exactly how they work by using our teaser bet calculator, running different lines and comparing them against what you could win in a standard parlay – using our parlay calculator.
These parlay alternatives are perfectly legal to use, and there are associated betting strategies that you can use with either.
#6. Use Social Sportsbooks
Just to open your options even further, you could also try your luck using social sportsbooks. These are sportsbooks that don’t require any real money to play at, and if your tips win, you could receive some generous cash prizes. Social sportsbooks are becoming extremely popular in the US, and a lot of them are available in states where sports betting hasn’t been legalized yet. You have plenty of platforms to pick from, and they each offer slightly different betting products.
Some are more similar to classic DFS apps, where you have to pick lineups and participate in free picking games like the popular DraftKings Pick6 game. Others may have more complex games based on player projections or choosing winning bets from a preselected multiple-choice game. Then, there are the social sportsbooks that are closer to the real money sportsbooks. These platforms provide you with a grand assortment of bets, and you can stake your bets using their internal currencies.
We highlight these platforms to matched bettors because you don’t need to spend money to play them, and can make some real money prizes if you play your picks right. In some cases, there are player leaderboards or contests that can win you gigantic prizes, but be aware, you will be playing against the best tipsters in the US.
Best Sportsbooks for Betting Strategists
Matched betting, and all of its alternatives, is only worth it if you are signed up to a sportsbook that can provide you with a tremendous volume of sports betting markets and no shortage of betting bonuses. The bigger sportsbook brands can afford to splash out where bonuses are concerned, and give you sizable boosts to make it worth your while. Below, we have gathered some of the top betting sites in the US and reviewed each so you can get the details on each one.
Alternatively, you can always opt for a betting exchange, where there is no juice and better opportunities to lay bets and hedge your wagers. The following betting exchanges we selected have real money betting and sweepstakes betting functions. This enables them to operate in US states where betting isn’t legal yet, providing residents of those states with the chance to bet without making any real money purchases. If you are interested in any of them, check out our reviews, or better yet, head to the platforms and see what they have to offer.
Below these, we will highlight the best social sportsbooks in the US, some of which operate in over 40 US states and provide the same quality betting experience as what you would get at a real money sportsbook.
