Arbitrage Betting: Meaning and Definition
Arbitrage betting is a betting strategy that is supposed to guarantee a certain amount of profit for every arbitrage bet you make. You need to wager on two opposing outcomes of the same match with two bookmakers and make a small profit from one of the wagers.
Summary
Arbitrage betting, or arbing, requires bettors to compare the odds for the same match with multiple bookmakers with whom they hold accounts. The next step would be to calculate the amount they would need to wager on each of the opposing outcomes to make a profit, whatever the final score.
What Is Arbitrage Betting?
Also known as surebet, arbitrage involves betting on multiple outcomes of the same match to ensure a profit. It means that the bettor takes advantage of discrepancies between the odds that various bookmakers set for the same match.
Why It's Important
This type of betting is designed to help bettors make a profit in the long run, as it typically doesn’t return much on a single event. It is a strategy that requires a lot of calculation (and potentially the use of a surebet calculator) in order to work properly.
While it’s not illegal to do arbitrage betting, it is a practice frowned upon by sportsbooks, and they tend to suspend the accounts of bettors who engage in arbitrage betting.
How It's Used
The first step is to look into sportsbooks and compare the odds for the same matches. The opportunity for arbitrage betting arises when there are differences in odds across sportsbooks. The next step would be to do the calculations to determine how much to bet on each outcome to make a profit.
The profit for a single match you bet on is small, and arbitrage betting is only worthwhile if done consistently. However, it is a practice that bookmakers can detect, and they can cancel those bets and even suspend bettors’ accounts.
