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Betting Arbitrage: How it Works & How To Use an Arbitrage Betting Calculator

Publish Date: 30/05/2021
Fact checked by: Josh Schwartz

A beginner's guide to betting arbitrage

Betting arbitrage is a popular sports wagering technique used by plenty of professionals and can be a bit confusing to understand at first. We're here to give a beginner's guide to Betting Arbitrage.

In this guide, we will explain how to use an arbitrage betting calculator and how arbitrage betting can be profitable under the right circumstances. We’ll also explain how bettors find situations where arbitrage can be less complex and walk new bettors through top tips of getting started with this mysterious wagering technique at American gambling sites. Let's get started!

What is Betting Arbitrage?

Before taking the time to learn how to use betting arbitrage in sports betting, it’s important to understand what betting arbitrage is. It’s a simple, yet powerful concept. Arbitrage betting, or arbing as many bettors call it, is wagering on all the possible positions of a wager. This practice normally doesn’t make sense because it loses money, but when done properly it can be successful for discerning gamblers.

Another similar strategy to arbitrage betting is known as hedging. We go into a full guide about betting hedge here, but it’s essentially betting against your main wager to protect against serious losses.

Why is it used?

Arbitrage betting is used because it can be gainful when done properly, although the profits are usually small and it can be time consuming. However, by selecting wagering positions at different sportsbooks with care, knowledgeable gamblers can guarantee that they earn a profit no matter who succeeds. Imagine a volleyball match with two teams. An arbitrage bettor would wager on both teams to win at different sportsbooks. This player would collect enough winnings from either of the two outcomes to make more than was spent on the two wagers together.

There is also the possibility of a draw and in such cases when this happens, the draw/ tie would also need to be covered - this is an excellent example of the power of arbitrage betting when done right. New gamblers interested should take some time to join up with some of our recommended sportsbook options about the best sports betting sites.

Who uses it?

Experienced gamblers, and analytical gamblers that know how to use betting arbitrage calculator tools and betting arbitrage software are the ones that use this technique most often. That’s because finding arbitrage opportunities is difficult and normally requires analysis of many different sportsbooks.

Many times the gamblers that use this technique aren’t even interested in the sporting events, just the profit that can be made off the contests. This will lead them to wagering on a wide range of different sporting events just to get the best arbitrage opportunities.

Why Does it Work?

Many gamblers that hear about arbitrage betting think that it sounds too good to be true, and one of the first things they ask is “does betting arbitrage work?”. The answer is yes, it does in some circumstances. Arbitrage betting works because different sportsbooks place different odds on the same betting positions. While one sportsbook might favor one player or team, another sportsbook could favor the opposite side to win. When the odds are miss-matched enough it results in powerful wagering opportunities that can result in some impressive profiting opportunities.

When is the Best Time to Use Arbitrage?

The best time to use the technique is whenever it’s possible to do so. Gamblers often use arbitrage on prop bets around major events like the Super Bowl. That’s because odds makers are working overtime to produce as many different prop bets as possible, and inconsistent odds are more common during this time. Careful bettors can take advantage of the situation to get many different successful bookmaker arbitrage opportunities.

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How to spot an Arbing opportunity

Step 1: Making use of  odds comparison site like Oddschecker, monitor and identify any discrepancies in Odds. Compare events where the odds offered by different bookmakers result in a positive expected return, indicating that you can cover all possible outcomes and still earn a profit.

Step 2: Calculate the highest odds available for each outcome from two different bookmakers to determine the implied probabilities.

Step 3: Compare your implied probabilities by adding up all possible outcomes. If the sum is less than 100%, you can be able to spot an arbitrage opportunity.

Step 4: Check for Market Inefficiencies which can an arise due to delayed reactions to discrepancies between bookmakers and exchanges.

Step 5: Before the market adjusts, act quickly to place your bets as these Odds can change swiftly.

Step 6: Be informed of the betting limits placed by bookmakers, the limits can impact your ability to place large bets and fully benefit on arbitrage opportunities

Testing out Software and Calculators

Arbitrage calculators are useful tools for identifying profitable betting opportunities. Skilled arbitrage bettors still need to find their own powerful opportunities, but they have a tool to double check the exciting options that they uncover. New bettors especially should get familiar with different arbitrage calculators and start making use of them to find winning opportunities. Here's how to effectively use them:

  1. Understanding Arbitrage Calculators: These calculators help bettors determine the optimal bet sizes to guarantee a profit regardless of the outcome. They take into account the odds offered by different bookmakers for a specific event.
  2. Inputting Values: Start by inputting the odds for a specific event from different bookmakers into the calculator. For instance, if Bookmaker A offers odds of 2.0 for Team X to win, and Bookmaker B offers odds of 2.5 for Team Y to win or draw, enter these values into the calculator.
  3. Calculating Bet Sizes: The calculator will then generate the precise bet sizes needed to place on each outcome to ensure a profit. For example, if you were to bet $100 on Team X and $80 on Team Y or a draw, the calculator might show that you would make a guaranteed profit of $10 regardless of the actual outcome.
  4. Spotting Profitable Opportunities: By using the calculator to test different odds combinations, bettors can develop an eye for identifying profitable opportunities. Over time, they may become adept at spotting such opportunities without relying on calculators.
  5. Progression to Manual Spotting: With experience, bettors may eventually be able to spot arbitrage opportunities without the aid of calculators. This typically comes after placing numerous successful arbitrage wagers.

By using arbitrage calculators, both new and experienced bettors can not only identify profitable opportunities but also develop a deeper understanding of the dynamics of arbitrage betting.

Yes, it’s completely legal to use arbitrage techniques to earn a guaranteed profit in sports betting. Many gamblers are warry of the practice because arbitrage can be illegal in some industries. The Forex industry for example does not allow investors to use arbitrage practices on the same currency. This is very illegal and can result in serious negative consequences if found out.

This is not the case in the sports betting industry though. Gamblers that are legally allowed to place sports bets can use arbitrage whenever it makes sense to do so. Players will have to be members of several different sportsbooks to get started, but once they do they can confidently use this technique to lock in more payout and to become more successful overall.

Top Tips for Getting Started with Arbitrage Betting

There are a few tips to have at hand before launching into arbitrage betting. Anyone can use arbitrage practices and tips to generate profits from sports betting with the right set of bets available. Here are some helpful tips;

Get a proper understanding of Arbitrage betting

Arbitrage betting involves taking advantage of differing odds offered by multiple bookmakers. By identifying these differences, bettors can place strategic bets to guarantee a profit regardless of the outcome. It is like finding a sale at two stores and buying low to sell high, ensuring a win-win situation.

Get a good calculator

A reliable calculator is essential for analyzing and calculating potential profits in arbitrage betting. It helps you accurately assess the difference in odds and determine the best betting opportunities. With a good calculator, you can make informed decisions and maximize your potential earnings.

Open an account with multiple bookmakers

By opening accounts with several bookmakers, you expand your options for finding arbitrage opportunities. Each bookmaker may offer different odds for the same event, increasing the likelihood of spotting disparities. Having multiple accounts allows you to capitalize on these differences and maximize potential profits.

Be careful during your analysis about the terms and conditions

When analyzing arbitrage betting opportunities, pay close attention to the terms and conditions set by each bookmaker. These terms may impact your ability to place successful bets or withdraw winnings. Being mindful of these conditions ensures that you fully understand the rules and requirements before engaging in arbitrage betting.

Start with small stake amounts

Begin with small bets to reduce potential losses if errors occur. This cautious approach allows for learning and adjustment without significant financial risk. Gradually increase stake amounts as confidence and experience grow.

Conclusion - Betting Arbitrage is a Beneficial Tool

Betting arbitrage is one of those ideas that seems complicated at first, but that becomes easier and more useful over time as understanding grows. Interested gamblers should take the time to get to learn how it works to take full advantage of its many benefits. With enough practice it’s even possible to guarantee profits with some sports bets using arbitrage.

Imagine arbitrage betting as finding a sale at two different stores. One could buy something cheap in one place and sell it a little more expensive in another, always making a profit. In betting, people find different odds on the same game from different bookmakers. They place bets to take advantage of these mismatched prices, guaranteeing a small profit no matter who wins. It might sound confusing at first, but the more one can learn, the easier it gets for them to win some real profit. Just remember, it's not a get-rich-quick scheme. Bookmakers don't like arbitrage betting, so start small on all grounds, be careful with stakes, wagering, and analysis, and always gamble responsibly.

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Betting Arbitrage FAQs

🧐 What is Arbitrage betting?

Arbitrage betting, also known as arbing, is a betting strategy that involves exploiting the differences between different bookmakers to guarantee a profit regardless of the event’s outcome. Players can always win because of the difference in displayed odds.

❓ Is there any limit of the stake I can wager in Arbitrage betting?

There is no universal limit on how much you can bet or wager in arbitrage betting. The maximum you can bet, however, depends on various factors, such as the bookmaker and the opportunity involved.

👀 What is the difference between hedging and Arbitrage betting?

The goal of hedging is to minimize the player's risk, while the goal of arbitrage is simply to make a profit. Hedging involves placing multiple bets or taking positions that offset each other. For arbitrage, players exploit the price discrepancies between different markets.

🤔 How can I win big on Arbitrage betting?

Arbitrage does not help bettors win big. Rather, it is designed to help players profit from market discrepancies. Time and stake amount are among the reasons why players can not win big on Arbitrage betting.

 

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