In some circles, the term “arbitrage betting” may garner disapproving looks, but the fact remains that it can be a viable betting strategy when done correctly. This article will help you to better understand how arbitrage betting works and why it is popular among certain bettors.
What is arbitrage betting?
This type of wagering is also called a “surebet” or a “miraclebet.” This is because the basic principle of this type of betting is to place money on all possible outcomes of an event via different bookmakers, which means that you will win regardless of the outcome.
You may see these bets referred to as “arbs,” and those who make them are usually called “arbers.” The goal of arbing is to turn a profit with as little risk as possible. It requires a thorough understanding of the odds and plenty of due diligence so that you know exactly how to place your bets.
How does it work?
To understand how this works, it’s important to understand a bit about sports booking. Bookmakers will usually offer slightly different odds on the same event. This may be due to a disagreement on odds calculations or a mistake in pricing a market.
Regardless of the reason, arbitrage bettors seek to figure out where they can gain a mathematical edge through patience and diligence. This style of wagering often works best if you have a considerable amount of money at your disposal because the short-term profit is usually quite low.
Arbitrage betting is often likened to a low-risk, high-yield investment strategy over the long term rather than pure gambling. Typically, the simplest way to get into arbing is by betting on a game with only two outcomes, such as basketball, American football or tennis. This can help you to understand how the process works and how you should split your bets.
Is arbitrage betting legal?
The short answer to this question is yes. This type of betting is perfectly legal as long as you are of age and living in a country that permits gambling.
Bookmakers and sports betting sites are not keen on allowing known arbitrage bettors to continue playing on their sites, however, because you are essentially exploiting a weakness in their systems.
If you choose to wager this way, you must do so carefully and be prepared for any eventuality. Those who are good at arbing often fall under intense scrutiny because they are essentially costing the bookies money.
Tips For Betting
First, you should keep meticulous records of all transactions. The best way to do this is often with a simple spreadsheet program. There are also software packages that can specifically help you track arbitrage bets.
Second, remember to always double-check your odds and prices before submitting bets. It’s easy to lose a considerable amount of money by overlooking a slight shift in odds.
Finally, while this is a relatively low-risk system, don’t forget that it requires serious liquidity and patience. It is not for everyone.
Now that you know more about arbitrage betting, you can decide whether or not it is something you should try with your next round of sports bets.