Arbitrage doesn't have to be a secret and mysterious way of making money on online sports betting. Learn how arbitrage betting works for multiple bets and in turn get more out of the next bet you place or any sporting event. Visit us and find out how you could win more money right now!
Arbitrage betting is considered one of the few strategies out there which can allow you to win irrespective of the outcome of a sports event.
This is possible, at least in theory and in most of the cases arbitrage betting allows you to maximize your winnings while minimizing your losses at the same time.
Arbitrage betting has many names and is also known as betting arbitrage, miracle bets, sure bets, sports arbitraging, or just arbs.
In this article, we’ll explain how arbitrage betting works for multiple bets and hopefully, after finishing this article you’ll be able to place your own arbs on some of your favourite sports.
Before getting into Arbitrage betting let’s cover some basics of arbitrage as not all our readers may be aware of how arbitrage works in first place.
Arbitrage involves taking advantage of price difference in two different markets for the same good.
So, it’s just a price mismatch which may be due to several factors among two markets.
Arbitrage is used as a business strategy by financers, who strike one or more deals to take advantage of the price mismatch.
In such deals, profit is generally equal to the price mismatch between these 2 or more markets.
Arbitrage betting works similarly, as here the bettor takes advantage of the difference in odds provided by bookmakers for a specific outcome.
At least theoretically, you can cover all outcomes of an event by placing several bets with different betting companies which will cover all the possible outcomes including wins and losses.
Your winnings in such a scenario will cancel out the losses, and if you are lucky then the proportion of your winning bets will outweigh your losses by a wide margin, thus resulting in a significant profit for you.
Using Arbitrage Bets For Multiple Bets
For much of its history, Arbitrage Betting was a closely guarded secret and was known only to few veteran punters.
But thanks to the Internet and the explosion of knowledge that followed it, most secrets related to arbitrage betting are out now and anyone with a bit of time and dedication can learn all the techniques required for arbitrage betting.
As now we have covered all the basics, let’s move on to the more advanced stuff.
Now, it’s time to explain how arbitrage betting works for multiple bets.
In the world of sports betting, multiple bookmakers are active, offering different odds for an outcome related to the same sports event.
In addition to hedging, betting arbitrage allows you to exploit the different odds offered by bookmakers as you’ll be betting against the odds offered by bookmakers along with different outcomes of a sporting event.
Much of the arbitrage opportunity boils down to the simple fact, that bookmakers among themselves have different opinions of the expected outcome and this is reflected in the different odds offered by them to bettors.
A successful betting arbitrage will require you to place multiple bets with several bookmakers and betting exchanges which will at least in theory cover all the possible outcomes of an event.
By hedging against your own bets, you’ll be able to make a profit, even if it’s small as the losses will be eventually cancelled out by winnings.
Much of this can be explained to different odds offered by William Hill and Paddy Power as for the first outcome the odds are 1.375, whereas the second outcome has odds of 5.500 meaning a greater risk and a simultaneous greater reward.
Arbitrage betting allows you to earn on a consistent basis and is used by veteran gamblers for generating regular income from their gambling activities.
The process works similarly for more than 2 bets, as arbitrage bettors are also known to place multiple bets which may include dozens of bets with different bookmakers for the same event.
But in any case, the theory and principles remain the same.
Arbitrage Betting Misconceptions
Arbitrage betting has been considered a sort of mysterious technique and as a result, there have been lots of myths floating around which tout it as a technique for becoming an instant millionaire.
One of the biggest misconceptions about arbitrage betting is that it is a 100% risk-free way of betting.
Nothing can be far from the truth as things may appear quite rosy on paper but betting in real life exposes you to certain unaccounted risks which may affect the theoretical odds in an unexpected way.
Most bookmakers have specific rules concerning what types of bets may be placed and very few will cover events such as extra time, which can ruin your initial calculations regarding an outcome.
Logistics of placing multiple bets with several bookmakers requires an unusual amount of hard work, number crunching, and dedication making this especially difficult as not all bettors can deal with the amount of hard work involved in arbitrage betting.
Another thing is the underlying principle of odds mismatch which is at the heart of arbitrage betting as bettors placing arbs are essentially exploiting the difference in odds offered by bookmakers to their own advantage.
In many cases, there may not be any arbitrage opportunity available at all, or even if there is a small window to place multiple arbitrage bets, the winnings may be minuscule making the whole process of placing arbs quite cumbersome without any significant return on your investment.
This is most often the case as even after placing multiple bets with different bookmakers you may have to contend with a profit of just a few percentage points often in single digits.
To be fair, this is also not a mean feat as not all bettors can generate even single digit returns from their bets, but after doing it regularly a punter starts questioning himself as for whether all this is worth the effort or not.
Arbitrage betting is not for anyone as only the best punters have the skills needed for placing multiple arbitrage bets and contrary to popular perception is not 100% risk-free.
It’s also not an easy way to become rich instantly as the profits are quite small.
But arbitrage betting is certainly one of the best options for hedging your losses and remains one of the favorite strategies of punters who are looking to win small amounts on a regular basis.
Hopefully, now you have a complete idea of the basics and advanced stuff concerning arbitrage betting and an understanding of hard work and dedication required for placing arbs regularly.
We’ve done our best to explain how arbitrage betting works for multiple bets in this article and would like to hear from you in the comments section below.
Feel free to add your own opinion or share any experience which you might have of arbitrage betting!