Arbitrage betting, sometimes known as âarbingâ is a form of betting whereby you exploit price differences between two sportsbooks on the same event.
The goal is to guarantee a profit no matter what the outcome of the event is, or at least ensure that you donât lose your stake in the worst case scenario. In this article, weâll explain sports arbitrage betting in detail, complete with examples, to show you how arbitrage bets are calculated and how they work.
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What is arbitrage betting?
As we said above, arbitrage betting is a strategy whereby you bet on all outcomes for the same event with two different NFL or
MLS sportsbooks. It only works if there is a price difference that you can take advantage of to guarantee a profit or at least break even in the worst case.
How does arbitrage betting work?Â
For arbitrage betting to work, you need to compare the odds on the same event between two different sportsbooks and calculate if there is a price difference that you can exploit. These are tough to find, as sportsbooks tend to have roughly the same odds for most events, but not impossible.
There are two steps to the arb betting formula:
1. Identify if there is an arb opportunity
The first thing you need to do is add the two sets of odds converted as an implied probability. If the sum total is over 100%, there is no arb opportunity:
| Formula: | Odds on outcome A | + | Odds on outcome B |
2. Calculating how much you need to wager
If you discover that you can arb the bet in step one, you now need to calculate how much you need to wager on each outcome to guarantee a profit:
| Formula: | Total stake amount | x | Odds price | = | Stake for each outcome |
Arbitrage betting example
In reality, none of us have the time to do the above calculations on our own. Fortunately, there are some great arbitrage betting calculators out there to make it easier for you to identify arbing opportunities.
Here is a real-life example of how to use one using an NFL moneyline in a game between Eagles vs Patriots:
Odds
- Eagles + 130 with BetMGM
- Patriots -125 with FanDuel
Stake:
$100
Calculation
The first thing that you would do is enter the odds for both outcomes and the stake into the calculator:
| Odds A | +130 |
| Odds B | -135 |
| Total stake: | $100 |
You would then get the following results:
| Stake for outcome A: | $43.90 | Payout A: | $100.98 |
| Stake for outcome B: | $56.10 | Payout B: | $100.98 |
As you can see, no matter what outcome you bet on, you will get a profit of $0.98. Most arbitrage betting calculators will also break it down like this to give you the ROI (Return on Investment):
| Total payout: | $100.98 |
| Total profit: | $0.98 |
| ROI: | 0.98% |
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Sports betting arbitrage
strategies – Our top five tips
Now that you have an understanding of arbitrage betting and how itâs calculated, here are a few strategies and tips that you can put into practice:
As with all forms of betting,
bankroll management
is key when it comes to arbing. Make an overall budget that you can realistically afford to lose and divide it into smaller units for each bet.
Similar to
value betting, arb profits tend to be very small. You therefore need to be patient and prepared to wait to build up a long-term profit.
Doing the calculations on your own can be extremely time-consuming, so itâs better to use a calculator as we advised above.
Create multiple sportsbook accounts
The key to arbing is exploiting a price difference on two outcomes of the same event with different sportsbooks, so creating multiple betting accounts is essential.
Odds tend to change fast, so once you find an arbitrage betting opportunity, you need to place the bet quickly.
Arbitrage betting
– Pros and cons
Here is a summary of the main advantages and disadvantages of arbing:
- Guaranteed profits or no loss
- Perfectly legal
- Easy to calculate
- Very time-consuming to find opportunities.
How to find arbitrage opportunities
One of the biggest setbacks of arb betting is that finding opportunities can be difficult, but here are a few of the main ways you can identify them:
- Do it manually
– This is the hardest way, but you can look for price differences and calculate them yourself.
- Subscribe to an arb betting blog
– There are pro bloggers and arb tippers out there that you can follow
- Use advanced software
– You can find software that scans the odds on multiple sportsbooks to show you instantly if there is a price difference you can arb.
- Follow us here at TheGruelingTruth
– As betting experts, we are always on hand to help you find arb betting opportunities and other betting strategies.
Is arbitrage betting legal?Â
This is a question we are often asked, but yes, arbitrage betting is perfectly legal, as long as online gambling is legal where you are, of course. That being said, the bookies donât like it, and if you arb too much you could be detected and risk having your online betting account frozen.
Whatâs the difference between arbitrage and hedge betting?Â
While there are similarities, arbing and hedging are distinctly different. With arbitrage, you are looking to ensure a profit on two sides of the same game but with different sportsbooks by finding a price difference.
When
hedging your bets, on the other hand, you place a shorter-term back bet against your long-term bet to guarantee a profit or limit your losses. A hedge bet can even be with the same sportsbook.
An example of a hedge bet would be if you bet on the Patriots to win the Vince Lombardi Trophy at the start of the NFL season but then bet on their opposition in the Super Bowl if they made it there.
How to arbitrage a bet
– Step-by-step
If youâre looking to get started with arbitrage betting, just follow the steps in our guide below:
1. Create multiple betting accounts
The first thing that you are going to need is at least two betting accounts.
2. Compare odds and use a calculator
You can now compare the odds between sportsbooks and use an arbitrage calculator to find an opportunity.
Find out how much of your total stake needs to be allocated to each bet using an arb calculator as we described earlier.
You can now log into your respective sportsbook accounts and place both your bets.
No matter what happens, you will receive your payout with a small profit.
Repeat steps 2 – 5 again to build up your bankroll long-term.
Arbitrage betting
on different sports
One of the cool things about arbing is that it doesnât really change regardless of what sport youâre betting on. What can make it trickier is markets with more than two outcomes.
For example, if you are arbing an NFL moneyline or points spread, there are two outcomes that keep things simple. Whereas with a 1×2 betting line in soccer, thereâs a third outcome to take into account.
The best
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Arbitrage betting
– Conclusion
In summary, the key to this betting strategy is identifying a disparity in the odds for opposite outcomes of the same sporting event with different sportsbooks. Finding opportunities is the hard part, but calculators and websites like ours here at TheGruelingTruth are on hand to help you out as much as possible.
Just remember to bookmark this page so you can refer back to our guide to help you along the way. Moreover, be aware that arbing is legal, but that the bookies donât like it and may ban your account if you are detected.
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Arbitrage betting
FAQ
đ Does arbitrage betting work?
Yes, arb betting does work, as the aim is to guarantee a profit by taking advantage of a price difference. However, finding opportunities is hard and profits are small.
âď¸ Is arb betting legal?
It is legal, but the bookies donât like it. As a result, you risk having your account frozen if you are detected as an arbitrage bettor.
đ How do you arb bet?
You need to find and take advantage of a price difference on the same market with two different sportsbooks. To find out more, check out this guide here at TheGruelingTruth.com.
