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In this tutorial, the presenter demonstrates how to make $700 in risk-free profit with just four bets using popular sportsbooks like FanDuel and DraftKings. These bets were actually placed by a friend following a specific strategy. The video explains the concept of synthetic arbitrage opportunities and why they work mathematically. Sports betting is a new trend in the US, with legalization ongoing in several states. Various sportsbooks like FanDuel, DraftKings, BetRivers, Caesars, and MGM are mentioned. The tutorial promises to show how to find similar sets of four bets to make risk-free profits.