Betting is very risky. Just one small mistake, just a minute wrong prediction, and you can end up losing all your money. Well, do you know that you can place risk-free bets with guaranteed profit? Yes, you read this right. This can be done with arbitrage bets. Sounds interesting, right? In this article, we will tell you about arbitrage betting, how they work, and how to place these bets. Along with this, you will also get to know about the top websites for arbitrage sports betting. So, without any further ado, let’s get to know more about arbitrage betting.
What is Arbitrage Betting?
When you place a normal bet, you bet all your money on one odd, and you only win the bet if your prediction is correct. Here, you are either on the winning side or the losing side; there is nothing in between.
But in arbitrate betting, you place multiple bets in the same event, basically on all the possible outcomes, so that no matter what the result is, you end up in profit. Sometimes, you might not get a profit, but at least you will not go into a loss. This is why arbitrage bets are called risk-free and safe bets.
For example, there is a cricket match between 2 teams, A and B. In a normal bet, you would place your bet either on team A or team B. But here, you will place a bet on all the odds, i.e., winning of A and winning of B. Now, no matter which team wins and what the outcome of the match is, you will get the profit.
However, some online and offline platforms might not allow you to place arbitrage bets due to their risk-free feature. Before placing these bets, make sure to check if the platform allows you to place multiple bets for the same event or not. Because if it is not allowed, then the platform might even block your profile and not allow you to place any bets at all.
Moreover, if one platform does not allow you to place arbitrage bets, then you can place your bets on different online platforms as well.
How Does Arbitrage Bets Work?
In sports betting arbitrage, you place your bets on all the possible outcomes in a single sports event. This ensures that you end up with a profit, no matter what the result of the match is. If you are new to betting and do not want to risk all your money, then you can start with arbitrage sports betting to make sure that you guarantee winning.
For this, you will need to divide your betting money into small portions and place multiple bets with that. This will also help you learn about betting, how to place bets, how to predict which team will win, etc.
How to Place Arbitrage Bets?
Now that you know what arbitrage betting is, in this section, we will tell you how to identify arbitrage opportunities and place your bets. You just need to follow the step-by-step process given below.
1. Find the Betting Opportunity
First things first, you need to find a sports event where you can place multiple bets. For this, you will need to research about all the sports events that are going to happen. If you are new to betting, it is better to go for games like cricket, hockey, or football that come with two or a maximum of three outcomes.
2. Research About Odds
For the second step, you need to research about the highest offered odds for each outcome on different betting platforms. Here, you will get to know which platform is best for you to place bets for particular outcomes.
3. Calculate the Bet
Now that you are aware of all the odds, it is time to calculate the arbitrage opportunity that you have. Depending on the odds, see which platform is best for which odd. You also need to decide the amount of money that you are going to bet on each outcome.
4. Place Your Bets
Once everything is done, you just need to place your bets. Depending upon your research, you can place your bets on the same as well as different platforms.
Advantages and Disadvantages of Arbitrage Betting
Now that you know how to place arbitrage bets, here we will tell you about the advantages and disadvantages of sports betting arbitrage. These factors will help you decide if this form of betting is ideal for you or not. Let’s start with the advantages first.
Advantages
- Guaranteed Profit: No matter what the outcome of the match is, you will get profit by placing multiple bets.
- Good for Beginners: These bets are good for beginners as they involve low risk, and beginners also get the opportunity to learn about odds, resulting in better predictions in the future.
- No Need for In-Depth Knowledge: Since you are placing bets on all the possible results, there is no need to have in-depth knowledge of the game, performances, etc.
Disadvantages
- Time-Taking: Looking for sports betting arbitrage opportunities can take a lot of time. The research work is tough.
- Can Lead to Banning or Limited Bets: Some betting platforms do not allow sports betting arbitrage. So, if you place multiple bets on the same event, some platforms might ban you or allow you to place limited bets only.
- Cancellation of Bets: If you place arbitrage bets on a platform that does not allow it, it may even lead to cancellation of bets.
- Not Fun: People get involved in betting mainly for the fun of it because of the risk factor. But, since the risk is not there, the fun of betting gets eliminated.
Top Betting Sites for Arbitrage Betting
Since we told you that sports betting arbitrage is not permitted on various platforms, you must be wondering about the platforms that allow you to place arbitrage bets. Do not worry; we have your back. In this section, we will tell you about the betting platforms that allow you to place arbitrage bets. Here we go!
1. DraftKings Sportsbook
If you are looking for a suitable platform that allows you to participate in arbitrage betting, then DraftKings Sportsbook is the perfect betting platform for you. The best about this platform is that it is legal and available in most of the states. Moreover, it covers a variety of sports and their events, ultimately providing you with higher arbitrage opportunities. Also, it is a certified platform, so you do not need to worry about the reliability of the platform.
Pros
- Good user interface.
- Has an app for mobile as well.
- Accepts various payment modes.
- Covers a wide variety of sports events.
Cons
- Customer care service could be better.
- Takes longer than usual time to deposit money.
2. BetMGM Sportsbook
BetMGM Sportsbook is one of the oldest and most trustworthy betting platforms in the U.S.A. Moreover, it operates in more than 16 states and is a certified platform. They also allow arbitrage sports betting. The user interface is quite good, and they also allow you to place bets through your phones with the help of mobile apps for Android as well as iPhone.
Pros
- Good user interface.
- Mobile application.
- 24 X 7 live chat customer care service.
- Certified platform.
Cons
- You need to deposit the minimum amount to place bets.
- Not available in certain states.
3. Caesars Sportsbook
Caesars Sportsbook is a new betting platform, but within a short amount of time, it has gained huge popularity among the betting community; the whole credit goes to its amazing welcome bonuses, promo codes, and easy money deposit and withdrawal procedure. Moreover, they accept deposits through credit cards, debit cards, net banking, as well as fintech apps.
Pros
- Accepts payments through various modes.
- Live chat customer care service.
- User-friendly website and mobile application.
- Covers a variety of sports events.
Cons
- A minimum deposit is required.
- No free bets.
4. FanDuel Sportsbook
Are you looking for an all-in-one betting platform that covers all the major and minor sports events as well as has a good variety of casino games? If yes, then FanDuel Sportsbook is the perfect betting platform for you. Also, with sports like cricket, football, rugby, tennis, baseball, basketball, etc., they also have 60+ casino games. Along with this, they also allow live betting.
Pros
- Live betting is available.
- Covers a variety of sports events.
- A good range of casino games is available.
- Available in most U.S.A. states.
Cons
- The customer care service can be improved.
- Lesser promo codes.
FAQs: Frequently Asked Questions
Q1. Is arbitrage betting legal?
Yes, arbitrage sports betting is legal in the U.S.A. However, some betting websites might not allow you to place arbitrage bets because of their risk-free nature.
Q2. Can you arbitrage bet on one site?
It completely depends on the betting site you are going for. Some websites allow arbitrage sports betting, while some simply do not. We have mentioned some of the websites that allow sports betting arbitrage online.
Q3. Is arbitrage guaranteed profit?
Yes, arbitrage bets are guaranteed profit because you place bets on all the possible outcomes of the match. So, it is a profitable deal for you, irrespective of the result of the game.
Q4. How to arbitrage sports betting?
For arbitrage betting, first, you need to find the betting opportunity. It is better to look for a game that comes with just two outcomes. After this, you just need to compare the odds on different platforms and then place bets.
Q5. How to not get caught arbitrage betting?
If you do not want to get caught while placing arbitrage bets, then the best way out is to place bets on different platforms.
Q6. How does arbitrage betting work?
In sports betting arbitrage, you place bets on all the possible outcomes. Basically, you place multiple bets. This allows you to ensure guaranteed profit, irrespective of the final result of the game.
Q7. How to calculate arbitrage betting?
Here is the formula to calculate arbitrage sports betting:
Arbitrage % = ((1 / decimal odds for outcome A) x 100) + ((1 / decimal odds for outcome B) x 100)
However, you can easily find online calculators as well to calculate this.
Conclusion
In a nutshell, arbitrage betting is a very good option for people who are looking for a risk-free and safe betting option with guaranteed profit. However, before placing arbitrage bets, make sure that you check if the betting platform allows these bets or not to avoid any banning, bet cancellation, and other betting limitations as well. Moreover, it is better to place arbitrage bets on different platforms, depending on the odds of the website.