Betting arbitrage is a complex betting strategy that takes advantage of different odds calculations by different bookmakers. Basically, when separate bookmakers differ in their opinions or calculations, one can make strategic bets with both bookmakers that ensure that the bettor makes a profit regardless of the outcome of the event. While this strategy has been shown to work, there is much more to it than simply understanding how to make the requisite bets.
There are many betting systems available on the market that use the basic principles of betting arbitrage as their basis; however, they often fail to mention some of the serious drawbacks to such systems. The prepackaged systems for sale generally describe how to make the required bets and explain the general principles behind them. In that arbitrage betting is quite complex, this is certainly a good first step for someone wanting to use this strategy, but these systems deliberately downplay or ignore the more demanding aspects of using this system.
One feature of arbitrage betting that is almost entirely ignored by those selling arbitrage based systems is the amount of time it takes. To use arbitrage effectively one has to analyze the odds quoted for every event by at least two – and usually more – bookmakers in order to identify the discrepancies between them. After this, one has to calculate the amount of money to be bet with each company in order to make effective arbitrage bets, and then one has to place the bets in accordance with each bookmaker’s rules and procedures and keep track of them all.
Further, one has to monitor continuously for bet cancellations, because if one bookmaker cancels a particular bet, then all the related bets have to be canceled to avoid losses. The effective use of sports arbitrage to make significant money is often done by large operations that include one group of people keeping track of everything online and making the calculations and another group of people who do all the “leg work” of making and managing the bets.
Another aspect of arbitrage betting that is often downplayed is the amount of money needed to make a meaningful return. In general, arbitrage betting provides small but guaranteed returns. This means, in order to make significant amounts of money, one has to bet significant amounts of money. Further, arbitrage betting by definition requires making multiple bets with multiple companies, so one is not just making one large bet but two or more large bets.
Further, since many bookmakers make it easy to deposit money but make it more difficult to withdraw it, the bettor’s ability to shift money between companies is significantly reduced. This is why many successful arbitrage operations keep most of their profits tied up in their accounts with each bookmaker and they also tend to have a large pool of reserve capital on the side that can be deposited when needed.
While it has been conclusively proven that arbitrage betting does work, it is still not appropriate for most individual bettors. Quite simply, most people lack the skill, the time, and the money to effectively use arbitrage betting to their advantage. This means that the prepackaged systems one can buy, that often include overpriced software programs that do not work, are frequently a complete waste of time and money.
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