FanDuel arbitrage opportunity

KHilgendorf

As the roost’s resident financial advisor, I feel it’s my duty to alert you all to an utterly insane opportunity for free money.

If you are not already a member of FanDuel, and you live in one of the states where it’s available, you can get 55:1 odds on the Super Bowl. For either team. So if one of you opens an account in the app and deposits $10, you can access the bonus odds of 55:1 for either KC or TB. Then have your spouse or friend do the same but bet for the other team. Max bet is $5 for the odds, which will net 275. Factor in the $5 loss, and you clear $270.

You’re welcome.

(Sworry to all you who don’t have access to the platform, I’ll keep my eyes open for more opportunities like this)

AaronWebstey

How in the hell is this possible? What's the max bet?

AaronWebstey

I'm not eligible for the SportsBook (and that deal, which is real) as a Canadian. But I did somehow still have $16 in credit on the fantasy FanDuel site, so I entered this:

https://www.fanduel.com/games/53963/contests/53963-243448681/enter

And this:

https://www.fanduel.com/games/53963/contests/53963-243458526/entries/2361063784

Also, Tom Brady is still a thing? And he's in the Super Bowl? WTF no wonder I stopped paying attention to most sports

KHilgendorf

AaronWebstey said:

How in the hell is this possible? What's the max bet?

$5 bet to win $275. It’s obviously a marketing promo to get you in the site and betting, but I didn’t see any restrictions on cashing out immediately.

Martin

I would really like to see the math on this business. If they figure 1 in 12 will sign up: You have $60 coming in, paying out $1,650 to six winners. That's $1,590 before taxes. So every sucker that signs up will *lose* an average of more than $1,590.

In triathlon terms, this means that every person that signs up after the promotion will earn the same amount of money as an average professional triathlete.

AaronWebstey

That $1650 gets them 6 accounts with linked credit cards of people who probably are at least a little interested in gambling ... I bet they make their money back

KHilgendorf

Exactly. It entirely a marketing spend with the hope that you continue on the site. But that doesn’t mean one must do so.

I was thinking a bit more about the arbitrage op while in the trainer and realized that even an individual can get a guaranteed payout of nearly $165 by taking both sides. Bet $5 on KC to win at 55:1, and then $115 on TB will get you a full $275 payout. Not nearly as good of a return, but still free money.