Arbitrage betting is a strategy that involves betting on all possible outcomes of a game or event at different sportsbooks, in order to guarantee a profit regardless of the outcome. To be effective at arbitrage betting, it's important to have accounts at multiple sportsbooks, so that you can compare the odds being offered and identify opportunities for arbitrage.
Here's an example of how arbitrage betting works: let's say that one sportsbook is offering odds of +110 on Team A to win, while another sportsbook is offering odds of -105 on Team B to win. By placing $100 on Team A at the first sportsbook and $107.56 on Team B at the second sportsbook, you would be guaranteed a profit of $2.44 regardless of the outcome of the game.
Sportsbook 1 - Team A to win (+110) - $100 stake - $210 payout
Sportsbook 2 - Team B to win (-105) - $107.56 stake - $210 payout
Payout regardless of outcome = $210 - $207.56 stake = $2.44 profit
Arbitrage betting can be a great way to earn a profit in sports betting, but it is important to be aware of its limitations. One major issue is that bookmakers are becoming increasingly sophisticated in their odds-making, making it more difficult to find profitable arbitrage opportunities. Additionally, some bookmakers may limit or even ban players who they suspect of engaging in arbitrage betting. To combat this, it is important to have accounts with multiple bookmakers and to keep a low profile by not exploiting every arbitrage opportunity that arises. Another way to avoid detection is to use whole dollar amounts in multiples of $5 or $10 - this will impact your guaranteed profit, but will help keep you under the radar.
One helpful tool for identifying arbitrage opportunities is an arbitrage calculator. These calculators can be found online for free, and they allow you to input the odds being offered at different sportsbooks and calculate the potential profit of a particular arbitrage bet. It's important to note, however, that using an arbitrage calculator does not guarantee that you will be able to find profitable arbitrage opportunities. There are also subscription services that offer more advanced arbitrage tools and resources, such as real-time odds monitoring and alerts for potential arbitrage opportunities. While these services can be useful, they often come with a high price tag and may not be necessary for all arbitrage bettors.
Arbitrage betting will be a useful strategy for sports bettors, particularly those who are just starting out. By using online arbitrage calculators and staying on top of the latest odds, bettors can identify opportunities to place bets with multiple bookmakers that result in a profit no matter what the outcome of the event. With a bit of patience and discipline, arbitrage betting can help bettors build their bankroll and achieve long-term success in sports betting.