When you start to learn about the best strategies for sports betting, arbitrage will come up as the ultimate money maker. As a matter of fact, people who use just too well sometimes end up being banned from sportsbooks. How is that even possible? While arbitrage strategy is one of the best ways to make extra money on your favourite sports, you really have to play it smart. In this arbitrage betting guide, we break down the dos and don’ts for your success!
Arbitrage betting is basically when experienced sports bettors discover the loophole in the system. Is it legal? Yes, completely. Then why is it dismissed? The reason is simply the fact that sportsbooks don’t like to lose more money than they earn. Using arbitrage betting, bettors can make money using different sportsbooks regardless of a game’s outcome. To really understand this strategy, make sure you understand what line movement is in online sportsbooks in the US. It is really the first step of your successful sports betting career. To follow up, we suggest our tips on betting the middle, since it is basically arbitrage betting 101. Once you get the gist, let us guide you through arbitrage betting!
The concept of arbitrage betting
To explain simply, arbitrage is betting in situations when the probability of you losing money is almost zero. Many claims that you can not lose money using arbitrage betting. This might seem impossible, it is actually true. While you use little money occasionally, the amount you earn back immediately with this strategy will make up all the cash you lost. Big time. Takes a bit of thinking, and it is rare but the opportunities do appear. Our job is to realise when the opportunity is there. Much like with online casinos in the US, the house always wins when using sportsbooks too. However, with arbitrage, you can also win.
Find your best odds
When you go to a bookmaker’s website like Bovada, you can search for various events. Note that middle and arbitrage betting is most common for football since it is very frequent. Notice that when you visit another sportsbook, odds are probably slightly different. This simply depends on what the bookmakers think about the outcome of a specific game. To sum up, for the same event you are going to find different odds on different sites. This is where arbitrage betting comes into the picture. With arbitrage betting, you use the difference of odds between sportsbook sites. This takes some research. What you need to do, is find the sportsbook that offers the best odds for one outcome. And then, do the exact same thing.
Find the best odds offered on a sportsbook for the opposite outcome to happen. So far, quite simply, right? With this strategy, you basically cover both sides of an event and will make money anyway! That is why it is important to really look for the best odds available for the game you have in mind. When using middle betting, bettors often use the same sight. While this can also be a good option, note that in this case, you will certainly lose a bit of money. However, when you start wagering across different sites is when you really start making the money.
Next step of the arbitrage betting guide: Find the betting odds margin
You can do your own research with the trusty analogue method. Arbitrage opportunities can be calculated using a mathematical formula, but luckily there are a number of free softwares available. However, we recommend the manual search for newbies, since it will give you a good idea of what it is all about. The process is simple. When you open up Bovada as your sportsbook of choice, look for others sites that you have accounts with. In separate tabs, you will see all the odds offered for the same event. Record all the odds offered by the bookmakers in a table. As the next step, circle the best odds for one event. Without having to use too much maths, once you have your best odds collected, you can use an arbitrage betting calculator.
After typing in your odds, you will see a probability and profit margin. Now, you only really have one thing to pay attention to. The probability will almost always be above 100% since the sportsbook wants to make money on that outcome. However, there are occasions when it is not. That is your arbitrage betting opportunity. If the probability is below 100 %, you will see a positive profit margin. If the probability is over 100 % and the profit margin is negative, you know it’s time to look for different odds. Once you understand this method and decide not to spend too much time with it, simply browse for free arbitrage betting software which is designed to find the best odds sportsbooks provide. Usually, they offer free trials, so there is no need to spend money on this if you are inexperienced.
Note that odds constantly change. Much like we explained in our line movement guide, odds fluctuate a lot, and you need to be aware of it. Make sure that the odds you looked for are still the same when you place the bet. Also, arbitrage opportunities often emerge from online sportsbook promotions in the US. Once one hand this is great, but on the other, they usually have a maximum level of bet. By really reading the offer and terms and conditions of a promotion, this should be no problem. As you can see, arbitrage betting is not exactly complicated, but never leave yourself exposed. Unfortunately, research can not be skipped, but the most important thing is to protect your money and find the safest and most comfortable way for you to gamble. Find your favourite upcoming football game on Bovada, and start comparing the odds for successful arbitrage betting!