What is an Arbitrage Bet?

Arbitrage betting, also known as “arbing,” is a sports arbitrage betting strategy used by bettors to exploit the differences in odds set by different bookmakers. This is achieved by placing multiple bets on all possible outcomes of the same football match, or sporting event at different bookmakers. By doing so, the bettor can guarantee and turn a profit regardless of the outcome.

Arbitrage betting is one of the simplest betting strategies that can guarantee a profit no matter the outcome of the sports event. In this guide, you can find out the very basics of arbitrage betting.

What is a Sports Arbitrage Betting Example?

Arbitrage opportunities can pop up in betting markets for a variety of reasons, most commonly being a disagreement in Sportsbook opinions on a certain event.

For example, say an NBA game was being played between the Houston Rockets and the Cleveland Cavaliers. 'Sportsbook A' may open up their market at:

• Houston Rockets $1.50 (e.g -200)
• Cleveland Cavaliers $2.50 (e.g +150)

And 'Sportsbook B' may open up their market at:

• Houston Rockets $1.80 (e.g -125)
• Cleveland Cavaliers $2.20 (e.g +120)

You can see here that there is a discrepancy in the odds, or a disagreement between the sports books over the winning chances of each team. In this scenario, the bettor could place $55.55 on the Houston Rockets with Sportsbook B, to receive a payout of $100 if Houston wins and the bettor can place $40.00 on the Cleveland Cavaliers with Sportsbook A, to also receive a payout of $100 if Cleveland wins.

In this scenario, no matter who wins the game, the bettor has outlaid $95.55, but will receive back $100 regardless of the outcome. This is a sports betting arbitrage, an opportunity to guarantee yourself a profit no matter the result (e.g + to your bankroll!)

Step-by-Step Guide to Arbitrage Betting

• Understand Arbitrage Betting Basics

  Arbitrage betting takes advantage of the differing odds offered by various bookmakers. It requires placing multiple bets on different outcomes to ensure a profit regardless of the result.

• Set Up Accounts with Multiple Bookmakers

  Register with several reputable bookmakers to compare odds. Verify your accounts and ensure you have funds in each to place bets quickly.

• Use an Arbitrage Calculator

  An arbitrage calculator helps you determine the exact amounts to bet on each outcome. Input the odds from different bookmakers to calculate the stakes.

• Find Arbitrage Opportunities

  Manually search for arbitrage opportunities by comparing odds across bookmakers. Use arbitrage betting software or services that automatically find these opportunities for you.

• Place Your Bets Quickly

  Arbitrage opportunities are time-sensitive; odds can change rapidly. Place your bets as quickly as possible once an opportunity is identified.

• Calculate and Place Bets Accurately

  Ensure the total stakes are distributed correctly to cover all outcomes. Double-check your calculations to avoid mistakes.

• Track Your Bets

  Keep a record of all your arbitrage bets, including the amounts staked and the expected profits. This helps in monitoring your overall performance and managing your bankroll effectively.

Arbitrage Betting Strategies

There are many different strategies and methods to bet on Arbitrage Bets. This example will take you through two of the main strategies of betting on arbitrage.

Strategy A - How to make a profit regardless of the result?

If the bettor was to place $41.86 on the Boston Celtics, and also place a bet of $58.14 on the New York Knicks on the money line market on the two respective sports books, they can ensure profit no matter the outcome. The bettor has placed a total of $100 in bets on both the Celtics and Knicks, but as shown in the table below, they will be returned $104.65 no matter which team wins. Although this doesn't seem like a lot of profit, this can be scaled to suit your bankroll and will earn the bettor a 4.65% return on investment.

Sports book	Odds	Stake	Return
Boston Celtics	+150	$41.86	$104.65
New York Knicks	-125	$58.14	$104.65

How to Find Arbitrage Betting Opportunities

As sports betting and sports books are becoming more mainstream and popular it has become harder to find Arbitrage Bet opportunities. However, arbitrage betting isn't dead and there are still opportunities waiting for you, here are some ways to help you find them:

Manually

It sounds simple, but it is possible to find arbitrage betting opportunities by manually comparing sports books odds against each other. Although this may be time-consuming, there are various tools on the internet that can help you. For example, there are many different odds comparison sites and tools that make it easier and faster to compare the odds on the same markets from different sports books. Manually comparing and viewing different odds is also a good way to get comfortable and gain a better understanding of sports betting markets and sports books.

Software

There is software available on the internet that automatically scans and detects arbitrage betting opportunities. These can be helpful as they remove the manual work from finding arbitrage bets. A good system/program has the potential to be a possible source of passive income. However, it would be wise to identify proven and successful software, and beware of scams and software programs that ask you to enter private/credit card information as there are possibly some fake programs out there. We are working on some free tools that show potential arbitrage opportunities which we will release soon.

Sport books Promotions

An underrated method of finding arbitrage betting opportunities is taking advantage of sports books promotional offers. Often sports books may offer promotions on various events that boost/increase the odds of certain outcomes. When this happens there is often a maximum stake (amount of money you can place on the promotion) that you can place on this event, however there is still usually free money to be made. By being aware of the different sports books that more commonly offer these promotions you can maximise your chances to make a quick profit. However, beware that it is not uncommon for sports books to 'promo ban' customers who take advantage of their promotions (make it so that certain sports bettors can't bet on their promotions). There are some ways to avoid this occurring such as always using a different sports book to arbitrage your promo bet against, and by placing lots of small bets (such as 1c, 2c if they accept those amounts) on heaps of different sports or races. Please check out our Bonus Bet Calculator to learn how to maximise your return on Bonus Bets.

Risk of Arbitrage Betting

Although Arbitrage betting may seem entirely risk-free, there are still sometimes some risks associated with Arbitrage bets. This is because sometimes sports books make mistakes or there may be errors in the odds they release.

For example, all sports books might be listing something at $1.05, except this one sports book which has the odds for this outcome listed at $51 which is an obvious outlier. So by arbitraging this heavy favorite at $51 with the correctly priced underdog at $10 you seem to be on track for a massive pay day. However, sports books are able to void your bet on the error odds at $51 (remove your bet and refund you your stake) which leaves you stuck heavily backing a $10 underdog on the other side of your arbitrage bet.

With this in mind when it comes to arbitrage betting it is best to stick to non-error opportunities where there is usually a 1-5% guaranteed return. As often if the odds seem too good to be true they are and it is an error with a high potential to be voided. With this being said it may still be worthwhile placing single bets on favorites with error odds as if the sports books void you get your money back but if it isn't voided you have backed a heavy favorite at underdog odds and have a good chance to make a decent profit.