How Arbitrage Betting Works?
Considered to be among the most controversial topics in the sports betting world, “Arbitrage Betting” is a strategy that involves placing a wager on the same market, offered by different bookies. Due to the fact that sportsbook creates their own odds, it isn’t uncommon to see a small difference between them – which is where “arbing” comes in place. Here, we will explain how it works, what bookies think about it, and are you allowed to use it at all.
The Process – How to Place the Bets
For example, let’s say that “bookie A” offers a market that has odds 1.30 “to win”, and 3.93 “to lose”. “Bookie B” on the other hand offers the same market with odds 1.42 and 2.90. The key factor is to take the best odds from both markets and calculate what kind of profit they would bring, depending on the bet amount. In this case, the ideal odds for Arbitrage betting would be 1.42 and 3.93.
To calculate if there is a chance for arbing, the highest odds are processed through a simple formula: (1/1.42 + 1/3.93) x 100%. By dividing the odd numbers by one, punters would end up with values of approximately 0.70 and 0.25 – combine them, and you will get 0.95, which multiplied by 100%, will become 95%. If a punter gets a value beneath 100%, the difference in the value is what their expected profit would net, which in this case is 5%.
How would you distribute a $10 betting budget among the two bets in order to get that 5% profit? Naturally, the easiest way is to input your values in an arbitrage calculator, which will show you how to spread your money among the odds. Most arbing calculators automatically implement the formula listed above, so punters don’t waste their time with manual calculation.
Why Bookmakers Limit Accounts (And Sites That Don’t)
Just like online casino operators, sports bookies are not interested in their clients using betting strategies or plans that will help them make a profit. This is why quite often, “bonus hunters” and “arbitrage bettors” are not only shunned by bookies but are often limited in the number of bets they can make. Why “limited” and not completely banned? Well, because a punter utilizing their own betting strategy is not illegal – since bookies don’t have legal grounds to completely remove a winning bettor from their platform, the only measure they can take is to reduce the profit that punter makes. Today we will explain some of the limitations imposed on bettors by bookies, and also list a few sites that generally don’t do that.
What Are the Limitations a Punter Can Experience?
The first and most common limitation for a punter would be their bet size. If let’s say a market allows a maximum bet of $100, and your account is limited to making 1% bets, this means that you can wager only $1 per odd. For people that are used to dealing with hundreds of dollars in bets, this is essentially a “dead account”, as it’s not going to be worth the time to make such small bets from it – this is why bettors often make new accounts.
Can Sportsbooks Ban Players and Why?
Although bookies are known to rarely ban users from their betting platforms, it happens. From punters who win too much or exploit market opportunities - bookies keep a sharp eye on their customers, and if they sense that someone seems to have the “upper hand” on them, they will not like it. Granted, while online casinos can outright close down a player’s account, bookies have their own way of dealing with people who use their platforms to become winners. Below, you can see some of the reasons why a sportsbook might ban a punter. You may become familiar with the business-tax law duties of the UK Gov.
Fixed Game Betting Validates Permanent Account Bans
In the last few years, the eSports betting scene had seen its first attempts at “fixed matches”. Just like with regular sports, pre-fixing the outcome of any sporting event is considered to be highly illegal; additionally, it undermines that sport’s integrity. This, in turn, reduces not only the numbers of interested punters but also the fan base of the sport in question. From a sportsbook’s perspective, however, it is extremely bad for business. Usually, punters that are aware of the “match fix,” tend to place huge amounts of money on the most favourable odds – resulting in colossal wins. When a connection between such a punter and the fixed match is established, a ban is almost guaranteed in all cases.
What Are the Best Sites for Comparing Betting Odds?
Punters that have the tendency to search for the best markets online often utilise the information presented by a number of websites that have one particular goal – to show the best odds available for a specific market. In the case of making a profit on a single market, both the lowest and the highest odds can be located on the websites of different bookies. In this article, we are going to discuss the best websites online that compare the market odds of the most popular bookies.
OddsPortal Always Gives Punters a Little Extra
When it comes to comparing odds from different markets, it comes as no surprise that oddsportal.com is at the top of our list. The website provides its visitors with a variety of useful “betting tools.” On the right side of the homepage, punters will be able to view dropping odds, betting odds, value bets, hot matches, best handicaps, moving margins, and more. OddsPortal’s unique feature comes in the form of a “betslip-like” element positioned on the top-right corner of the screen, called “My Coupon.” Once a website visitor selects a market from the list, the action will enable the Coupon and display all available bookies that offer that specific market, along with its odds.