Submitted by The_Stein244 t3_11aym8a in LifeProTips
Raskolnikoolaid t1_j9uxtsd wrote
Reply to comment by RascalRibs in LPT: Maintain separate bank accounts when you get married by The_Stein244
Until it becomes an extra expense
Alex_butler t1_j9vcn0m wrote
It’s actually not that hard to be profitable in sportsbetting if you know what you’re doing and you’re taking advantage of promos. For the most part it’s just a risk management game and you’re not even gambling.
For example prizepicks let’s you bet $20 risk free every Friday and they have prop discounts on Tuesdays and other promos throughout the year. If you only bet on Friday and promos the risk is pretty minimal. That’s just one site. If you start using promos across sites to maximize value you can add a decent source of income. It’s a process that can be a bit complicated to maximize profits, but if you just want some extra bucks here and there then the key is promos.
The issue is people who become addicted and just throwing bets left and right everyday or try to hit the big one to get money fast. I made $3.5k in 2022 (before taxes), maybe I could’ve made more if I was betting everyday, but there’s also a chance I wouldve lost too.
666pool t1_j9vkl24 wrote
How much time did you invest in it to make that $3.5K?
Alex_butler t1_j9vvq6g wrote
A lot if you count also watching games, but I also do it for fun a bit as well and quite enjoy doing it. I’d be watching sports regardless so a little income off of it is a bonus. It’s not a career by any means and the $ per hour wouldnt be worth it the way I do it if I didnt have fun doing it. I am on the addicted side of the spectrum for sure, but I am aware of ways you can do it risk free and that’s why I chimed in.
The example I used would take 5 mins max if you didn’t care about the games at all and just waited for the results. There are other ways to use promos within 5 mins that are risk free as well. It really just depends what your goal of doing it is.
RascalRibs t1_j9uyfk6 wrote
It won't though. Once the easy money is gone we'll just stop doing it.
resetmypass t1_j9uz8rl wrote
Can you tell me more about how I can make easy money by gambling?
RascalRibs t1_j9uzo0q wrote
By not gambling.
You take advantage of promo offers and boosts. Just takes some basic math and you'll come out ahead.
We just finished a DC trip and made almost $3k. Going back tomorrow since they sent some more offers this week.
resetmypass t1_j9uzxf3 wrote
Give an example please. Can you share exactly what was the promo offer and what was the bet to make 3k? To me it sounds like you got lucky instead of you getting “free” money.
RascalRibs t1_j9v0pqt wrote
There's no luck involved.
GambetDC had a 57% deposit match up to $1000 in bonus funds. They also did a $250 risk free first bet.
MGM had a 100% $500 deposit match and a $1000 risk free bet.
I'm not going to list out every bet, but you use those offers and bet the opposite side using another book. We used Draftkings, Caesars and Fanduel depending on who had the best line offered for each bet. Was a bit annoying with DC since they have location restrictions for MGM and Gambet, but it was still easy enough to make the bets and then either walk to the next area or take the metro back to VA to place our hedge bets.
Oh, and we also got $200 in free bets on MGM for some reason.
resetmypass t1_j9v1ogf wrote
This doesn’t make sense to me. If you use bonus money to make a bet and then use your own money to make the hedge bet, don’t you just either lose the bonus money or lose your hedging bet? How do you get ahead?
RascalRibs t1_j9v2i2y wrote
Just to keep it simple, we'll look at the BetMGM offer without even considering the risk free bet portion, and just for one user.
You deposit $500 and receive $500. You have $1000 to place a wager.
You place $1000 on a +220 line. The total payout is $3200.
You place a hedge bet of $2286 on the opposite outcome at odds of -250. The total payout is $3200.
So you've bet $500 and $2286, for a total of $2786, and your total payout is $3200. $3200 - 2786 is a profit of $414.
resetmypass t1_j9v5j3q wrote
Thanks for explaining! How do you get these offers? I will go try it out
RascalRibs t1_j9v5ruu wrote
The BetMGM offer is available to be customers. Once you register, just wait a few days and they'll send the email for the deposit match offer.
And you can do it again in multiple states.
drgngd t1_j9v978s wrote
Dude good shit on gaming the system!
RascalRibs t1_j9v9mr5 wrote
They have no problem screwing customers so I'm just trying to fight back lol
drgngd t1_j9v9uzg wrote
Oh 1000% that's why I'm rooting for you. They're trying to lure in people with the free bets so they can take their money. Glad you figured out a way to take some of it back.
Bay_Burner t1_j9vigo1 wrote
Can’t you just take the $500 and bet $10 and withdraw? You free $500 lost some value down to $414.
RascalRibs t1_j9vk027 wrote
You have to play through it before you can withdraw it.
And I usually find much better lines, so I'd end up around $500.
[deleted] t1_j9vdxc6 wrote
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Raskolnikoolaid t1_j9uz7jm wrote
How will you know the easy money is gone, it could be a bad streak
RascalRibs t1_j9uzfib wrote
I think you assume that we are gambling. We're not.
We take the guaranteed money 99% of the time.
We do bet on games that we'll be watching though, but we can do without that.
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