Why You Need a Hedgebook

Matched betting allows you to work with sportsbook promotions by placing opposing bets on two different platforms — one where you have a promotion (the promo book) and one on another sportsbook (the hedgebook). This strategy is designed to try to reduce variance while attempting to extract value from promotions. These bets are not risk free.

What to Do if You Don't Have Any Hedgebooks Yet

When using the promotion converter, SmartStake prepopulates your hedgebook filter with sportsbooks you've already signed up for or with sportsbooks without sign-up promotions. It's best to avoid using a sportsbook with an active sign-up bonus as your first hedgebook, as you would be forgoing that promotion's value. You can use it freely once you've completed the promotion.

In Canada, SmartStake's default hedgebook is Pinnacle. SmartStake trusts Pinnacle as a hedgebook because it does not offer promotions, accepts larger bets, and shows the maximum bet size before you place your wager — characteristics that can make for an effective hedgebook. You should review any sportsbook for yourself and pick one you trust. More details on what makes a strong hedgebook are available here.

What If All Sportsbooks Have Promotions?

In some states, all sportsbooks may offer promotions. In these cases, SmartStake selects FanDuel as the default hedgebook because FanDuel's qualifying wager has no minimum odds — any bet over $5 unlocks $200 in bonus bets in many cases. Using FanDuel as your hedgebook (with at least a $5 bet) may also unlock $200 in free bets, which can then be worked with using SmartStake's promotion converter. Always check the current terms of any promotion before relying on them.