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Sports betting is the general activity of predicting sports results by making a wager on the outcome of a sporting event.
For the sports fan its an exciting hobby to make the game even more interesting. But for the gambler sports betting is one of the best games to make big money in the long run.
Sports Arbitrage - Risk Free Betting
Sports arbitrage is a particular case of arbitrage arising on betting markets due to either bookmakers different opinions on event outcomes or plain errors. By placing one bet per each outcome with different betting companies, the bettor can make a sure profit.
A typical arbitrage is around 2%, often less, however 4%-5% are also normal and during some special events they might reach 20%.
Arbitrage betting is usually done online by researching odds at online betting sites or subscribing to one of the many online arbitrage-hunting services.
Each bookmaker has specialist odds compilers who set the odds for each event and sport. But due to increased international competition, they are now being asked to cover an ever-increasing number of events where their knowledge may not be as much as with more traditional sports. Sometimes bookies will also take a chance and set a odds very high to speculate in the outcome or to gain market share.
Inevitably there will be differences of opinion between the bookmakers as to the abilities of each competitor. This leads to one bookmaker setting the odds of the favorite higher than other bookmakers, whilst another bookmaker prices the outsider higher than others.
If the odds on the favorite and on the outsider (as well as any other outcomes) are high enough , an arbitrage opportunity exists!
For an individual bookmaker, the sum of the inverse of all outcomes of an event will always be greater than 1.
The idea is to find odds at different bookmakers, where the sum of the inverse of all the outcomes are below 1.
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Bookmaker A
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BookmakerB
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Outcome 1
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1.29
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1.42
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Outcome 2
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3.65
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2.95
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You bet $28 on Outcome 2 at Bookie A and $72 on Outcome 1 at bookie B. You have bet a total of $100. If outcome 1 wins you collect 1.42 * 72 = $102.20 from bookie B. If outcome 2 wins you collect 3.65 * 28 = $102.20 from bookie A. You have locked in a sure profit of $2.20.
The sum of the inverse of the outcomes is 1/1.42 + 1/3.65 = 0.704 + 0.274 = 0.978. The sum is 2.2% below 1 which means you can make a risk free profit of 2.2% on your bet.
Many bookmakers offer first time users a signup bonus in the range 10 - 200 $ for depositing an initial amount. They typically demand that this amount is wagered a number of times before the bonus can be withdrawn. Bonus sport arbitraging is a form of sports arbitraging where you hedge or back your bets as usual, but since you received the bonus, a small loss can be allowed on each wager (2-5 %), which comes off your profit. In this way the bookmakers wagering demand can be met and the initial deposit and sign up bonus can be withdrawn with little loss.
The advantage over usual betting arbitrage is that it is a lot easier to find bets with an acceptable loss, instead of an actual profit. Since most bookmakers offer these bonuses this can potentially be exploited to harvest the sign up bonuses.
The best online sports betting site is probably Bodog Sportsbook. Bodog offer some of the best odds in the industry. You can place bets on hundreds of different sporting events. Whether you want to place a bet on the NBA Finals or World Cup soccer you will be able to do it at bodog. And you never have to worry about getting paid. When you win with the bodog sportsbook you will get paid what you are owed, and it will come on time.
Bodog offers 10% unlimited instant bonus on your first deposit if you use our link below. The bonus will be available for wagering within 30 minutes.
Go to Bodog Sportsbook
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