In sports betting, you will have a large selection of strategies and styles. One such method is arbitrage betting.
Sometimes referred to as arbing, surebets, arbs, and even miraclebets, there are plenty of names to call this style of betting. The method is when you place multiple bets on an event to guarantee yourself a profit, regardless of the outcome.
If you are looking into arbing, you need to know a few things to keep in mind. As such, you want to be sure you are very familiar with betting terms and that it is right for you and your betting habits.
We gathered the top tips for arbitrage betting under these headlines:
As you have read above, arbitrage betting involves making multiple bets on an event to try to make the most money without any regard to the actual outcome. Bookies have to allow bets to come in, but they tend to keep a close eye on this.
Arbitrage betting requires that you have patience and some composure. Since you will be betting on both sides of the event, with different sportsbooks, you will see losses along with your wins.
Bookies will monitor your account, especially if you happen to win just about every single event you bet on. While this is not meant to scare you, keep in mind how the terms and conditions fare for your sportsbook of choice.
The first thing, to keep it simple, is to have at least two sportsbooks of choice. For this example, you will see that odds will be placed on two different sportsbooks.
Say you place a bet of $100 on the Patriots at Sportsbook A. Then, you wager $57.36 at Sportsbook B. After it is all said and done, you will make a profit of $3.24.
By making this amount of money, you can see that you obviously will not get rich doing this. However, what you can see is that you will make money regardless of the situation if you are able to spot the odds at different sportsbooks at the right times. Of course, this requires you to know how to read betting odds in the right way.
If you can find the odds at difficult sportsbooks and take advantage of the differences, this is key to your arbitrage betting. When making multiple bets like this, you also need to keep track of where and what you have bet on.
You do not want to make yourself look suspicious to a sportsbook. Again, the terms and conditions for each one will differ, but most of the time, they will say things directed towards “professional” bettors.
To put it simply, they do not want people to place bets that win all the time. This costs money to them, or at least the one that you keep winning with all the time.
Since you will be placing bets at multiple sportsbooks, the odds are going to be different for any event that you bet on. It is important to make sure you check them often to see when the best time to strike on the best odds.
In doing this, you should know beforehand what amount of money you are comfortable with spending on a certain event. You are looking for the odds that are the biggest gaps in your betting opportunities.
Most importantly, you are going to need to watch your bankroll. Since you are placing multiple bets, you are essentially putting more money to work at any given time. You are also subject to losing if you miscalculated your odds.
With this in mind, you should definitely keep a record of your wins and losses. Your records will show if you have the proper amount of money to play with or if you should even bet in the first place.
Yes, it is legal to do arbitrage betting. However, it is highly frowned upon if you happen to be very good at it and are a professional bettor.
I would read through very carefully all the terms and conditions of your sportsbooks. They usually say they have the right to cancel your account, and that their services are meant for recreational players.
By doing a quick search online, you should be able to find a free arbitrage betting software. Be sure to test it out first before using this software to help you make bets.
While these methods are not completely set in stone, it is important to know that you can be suspended from your sportsbook account, depending on your sportsbook. To limit the possibility of getting suspended, you should round your bets up to the closest dollar, keep your money in your account longer, and make bets on events here and there.
The point is to use your sportsbook as it should be. By making bets on other events or even using a different strategy from time to time, you can limit the chance of getting suspended.
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