When it comes to sports betting, finding ways to minimize risk and maximize profit is key. That’s why savvy bettors always keep an eye out for promotions and use strategies like hedging to capitalize on opportunities. In this blog, we’ll break down a clever betting strategy we found by scanning sportsbooks daily to bring you the best promos and value. Here is a prime showcase on how to hedge using free bet promotions from the two biggest sportsbooks, DraftKings and FanDuel.
The Situation: Thursday Night Football Hedge
The matchup we are betting is the Thursday Night Football matchup between the Buffalo Bills and Miami Dolphins. The play revolves around Jaylen Waddle, the Dolphins wide receiver, with two different bets placed on him:
- Bet on Waddle NOT to Score a Touchdown
Using DraftKings’ (DK) “No Sweat” promotion, the bettor placed a $20 wager on Jaylen Waddle not scoring a touchdown. If Waddle doesn’t score, the bettor wins $30.81. - Bet on Waddle TO Score a Touchdown
On the flip side, the bettor used FanDuel’s (FD) 50% Profit Boost to bet $10 on Waddle to score a touchdown, at +270 odds. If Waddle finds the end zone, the bettor wins $37.
The Hedge: Zero-Risk Betting
The genius of this strategy lies in the fact that both bets are hedged against one another using promotions, so there’s no risk involved. Let’s break it down:
- If Waddle doesn’t score a touchdown: The DK bet wins $30.81, covering the $10 bet on FD. The bettor walks away breaks even.
- If Waddle does score a touchdown: The FD bet wins $37, covering the $20 bet on DK. The bettor walks away with $7 in profit AND a free $20 bet on DraftKings thanks to the promotion. With this free bet, we can place another hedge bet to guarantee further risk free profits off our initial investment.Free Bet Conversions (using our OddsJam tools) average about a 75% conversion rate, so we can expect to profit an additional $15 when we use the free bet. That works out to $22 in non sweat profit ($7 profit from Waddle scoring + $15 off DraftKing free bet). initial bets or a 73% ROI.
Why This Works
The beauty of this hedge is that it uses sportsbook promotions to effectively bet against both outcomes at no risk. Normally, betting on both outcomes of an event would result in either a wash or a loss. But by using free bets and promos, the bettor minimizes their own out-of-pocket expense and secures a profit no matter what.
Final Thoughts
As sports betting continues to grow, more bettors are turning to strategies like these to exploit promos, free bets, and risk-free opportunities. The key takeaway here is to look for ways to hedge your bets using promotions from different sportsbooks. Not only does this approach help mitigate risk, but it also gives you a chance to consistently profit, regardless of the game’s outcome.
To learn more about betting strategies, follow TJP Sports Betting on social media and stay tuned for more tips on how to leverage the books against themselves!
