Matched betting is popular in the UK, where bettors use a sportsbook promo on one side and a betting exchange to "lay" (bet against) the same outcome. In most of the US, traditional lay-betting exchanges are not widely available, so US bettors do the same thing using two sportsbooks: the promo at one, and the opposite side at another.
The core idea
A promotion gives you extra value (a bonus bet, a profit boost, a refund). Hedging the opposite outcome at a second book turns that value into a locked-in (or nearly locked-in) profit at those prices, regardless of the result.
Example 1: Bonus bet
$50 bonus bet on Team A at +350 (Book 1). Opposite side Team B at −400 (decimal 1.25) at Book 2.
- Hedge stake = 50 × 3.50 ÷ 1.25 = $140
- A wins: +$175 − $140 = +$35
- B wins: $140 × 0.25 = +$35
A $50 bonus bet becomes $35 cash (70%). (Converting bonus bets.)
Example 2: Profit boost
50% profit boost, max $25, on Team A at +200 → boosted +300. Team B at −260 (1.385) elsewhere.
- Boosted return = $100
- Hedge = 100 ÷ 1.385 = $72.20
- Either way profit ≈ +$2.80
Small, but guaranteed, and these come around often. (Profit boosts.)
Example 3: No-sweat bet
Bet $200 no-sweat on a longshot, hedge the other side, and if the longshot loses, convert the refunded bonus bet in a second matched bet. Combined, you often lock in 35–50% of the no-sweat amount. (No-sweat bets.)
What you need
- Accounts at several legal sportsbooks in your state (How many sportsbooks?)
- Some cash at each, so you can hedge immediately
- A way to find the best opposite price quickly (Odds screen)
- A calculator for hedge stakes (Hedge calculator · Bonus bet converter)
The OddsHype promos page is built for this workflow: it finds the best hedge pairs and conversion rates across the books legal for you.
Risks and rules
- Price moves between placing the promo bet and the hedge
- Rule mismatches between books (overtime, player-not-playing)
- Promo terms: some books exclude hedging at the same book or require minimum odds
- Limits: books may restrict promo-only accounts over time (Avoiding limits)
- One account per person and only from legal locations
Is it worth it?
For welcome offers and frequent promos, matched betting is the most reliable way for a new bettor to make money from sportsbooks. The ongoing amounts are modest, but they are steady and low-risk.
Frequently asked questions
Is matched betting legal in the US?
Betting at licensed sportsbooks in your state, including hedging promos across two books, is legal. Follow each book's terms and use only your own accounts.
Can you do matched betting without an exchange?
Yes. In the US, bettors hedge with a second sportsbook instead of an exchange.
How much can you make from matched betting?
Most of the value comes from welcome offers; after that, regular promos usually add a modest but steady amount each month.