Sports Betting Arbitrage – a Modern Way to Supplement Your Profits
Read about sports betting arbitrage as a viable strategy to supplement your income. Check how web data scraping by DataOx can help to get a sure profit faster.
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Table of contents
Estimated reading time: 7 minutes
Introduction to Sports Arbitrage Betting
Have you ever wanted to invest a certain amount of money with no risk, meaning to get a guaranteed profit? Do you believe it’s possible? You may be surprised, but there is a way. If you like sports and betting, the mathematically proven strategy of online sports betting arbitrage will surely interest you as a means of earning profit. Using this method, anyone can make money if they are eager to put enough time and effort into arbitrage gambling.
What Is Arbitrage Betting?
Arbitrage generally stands for identifying the price differences at various markets and taking advantage of them for getting profit. Arbitrage sports betting is the practice of placing bets, based on accurate mathematical calculations, across various bookmaker websites and winning whatever the game results are.
Betting sites are nowadays multiple and variable to secure a profit you should carefully analyze the information and the possible outcomes. Until recently, to execute arbitrage, one should have surfed through various sites that provide betting on sports in search of combinations to analyze and to find the possibilities for arbitrage.
Web scraping betting sites can save you time and effort and enhance this lengthy and complicated process. What is important to mention here, is that you should not necessarily be a sports fan, but to gain the desired profit you should understand the mathematics and the processes that stand behind betting.
To better understand, let’s see how such possibilities exist and what the calculations behind the strategy are.
How Does Arbitrage Betting Work?
Arbitrage is often called ‘sure bets’ because it guarantees a profit. In simple words — you should find two different bets at different bookmakers that will provide you as a bettor with a sure profit due to a favorable margin that occurs because of contradictory odds. You should wager all the possible outcomes of a game, but bet with only two bookmakers. Before betting, you should make sure that the opportunity of arbitrage exists, and in case you see it, it’s also vital to rightly divide your stake between the odds to secure profit. This a simple example to make things more clear.
Let’s suppose Bookmaker#1 places odds like this: Team №1 – odds of winning – 1, 45, Team №2- 4.07, while Bookmaker#2 sees Team’s №1 chances to win as 1.57 and Team’s №2 – 2.95.
To find out if arbitrage possible, you should divide 1 by each of the odds and sum both of the results. If the sum is below 1, the possibility for arbitrage exists. Is arbitrage possible?
Check if 1/First odd + 1/Second odd < 1 Therefore, for our hypothetical scenario we would calculate as follows: 1/1.56 + 1/4.07 = 0.641 + 0.2457 = 0.8867 (Arbitrage exists) 1/1.35 + 1/2.75 = 0.74 + 0.3636 = 1.1036 (Arbitrage does not exist)
Now, as you’ve spotted the arbitrage opportunity, you need to calculate the amount to place on each odd to get a guaranteed profit. In case you are going to spend $1000, your calculations should be like this:
It’s vital to remember to round your bets up (723 and 277 in our case), it will help you avoid suspicion. However, rounded stakes change the profit levels, keep it in mind as well. This is an example for you to understand the logic, which stands behind the process, however, there are many arbitrage betting sites calculators. All you need is just put the possible odds and the investment amount in and the online calculator will do the math for you.
Is Arbitrage Workable and Legal?
There is no clear-cut answer to this question since it’s hard to win some substantial sum through arbitrage for an average bettor. There are several reasons for it:
- The margin is as a rule small, so capital is needed It’s a challenge to find arbs
- The bettors suspected of being at risk to be banned or limited by books
All these reasons combined make it hard to generate consistent winnings. What is more, bookmakers get better trained to detect arbers and if you have a constant long-term profit, you are likely to be blocked. That leads us to the next question whether arbing is a legal practice? In fact, there are no laws claiming arbitrage betting on a website is illegal, however, the practice breaks the terms and conditions of most bookmakers’ resources and often results in the bettors being blocked.
Can Web Scraping Help the Process of Arbitrage Betting?
Web data extraction is an ideal technology to speed up and simplify searching for possibilities. Web scraping arbitrage betting sites and bookmaker resources, you can, for instance, extract the records of odds of football matches, insert the results into the formulas, like in the examples above, and figure out football arbitrage betting possibilities. The same works for any sports.
Making scraping at regular intervals over a certain period across several sports betting sites, you can gather all results in a single sheet and automate the process of formula application. When a scraper does all the hard work for you, it will help you make the lengthy process shorter and more effective.
Anyway, you should always remember that arbitrage betting is not about “getting rich fast”, it’s hard and persistent work. Now let’s speak about the possible profit you can gain in more detail.
How Much Can You Make with Arbing?
Arbitrage betting can help you get consistent and steady profits, yet not very high. It’s difficult to spot an arbitrage opportunity that offers over 5% in return, so be ready to place lots of small bets instead of trying to win big at once. The bankroll, the number of bets you make, the arbs’ sizes, and more will determine the profit you’ll get. So, you cannot count on arbitrage betting as a strategy to get rich fast. Even the arbs that near 5% often come with a certain risk. It’s reasonable to set up as many betting accounts as possible in advance so that when you spot an arbitrage opportunity at some bookmaker, you don’t lose your time on the site registration procedure. Arbitrage opportunities may crop in hundreds every day, but to take advantage of them you should have a relevant account to place the wager. The key to success in arbing is the ability to react promptly as soon as the opportunity has revealed. In general, starting out with $500 in your bankroll, you can expect somewhere around a few hundred in profit per month.
Some Tips for the Arbers to Avoid Blocking
As we have already mentioned above, bookmakers don’t like arbers and do their best to spot them and prevent them from betting on their sites. To avoid blocking you should simply be careful and follow the tips below.
Don’t deposit and withdraw money frequently
After you gain some experience in arbing and gain success in it, you might be tempted to supplement your income with it or even make a living. It’s important to be reasonable in placing deposits and cashing out, frequent transactions may draw suspicion and hint at a bookmaker you are an arber.
Use betting exchanges
Being a platform for gamblers, betting exchanges take commissions from the winning side and sometimes from the losing as well, but they do not care if you are arbing. Their income does not depend on how you bet. So it’s a sound idea to use betting exchanges or at least combine your effort on them and sportsbooks.
Don’t bet maximum all the time
Obviously placing the highest wagers is a sure way to maximize your arbing opportunities. However, if tempted with the perspective to take full advantage of the sure bets, avoid betting the maximum constantly. If your wagers are more sporadic, you look much more like a recreational gambler and decrease the chances to be recognized as an arbitrage bettor.
Sports Betting Arbitrage FAQ
What is arbitrage in sports betting?
Arbitrage bets are bet on two opposite outcomes by different bookmakers, as a result of which the player receives a guaranteed profit, regardless of the outcome of the competition. This type of betting is based on the use of odds difference.
Is arbitrage sports betting legal?
Arbitrage bets are not prohibited by law, but the administrators of bookmakers are interested in stopping such activity in various ways: limiting the account or canceling bets.
How to scrape betting odds?
Choose a web scraper that you are comfortable with, then choose the websites you are interested in and need to scrape. It is worth extracting the data you want to analyze: team and roster information, simple and complex data on the pitch, and coefficient records. The next step is to take care of the correct configuration of the parser. Pay attention to bypass site protection, set up IP rotation, and take into account robots.txt settings
In case you are looking for a way to supplement your income, arbing is a worthy pursuit that requires little skill to implement. However, arbitrage betting requires effort: you need to learn how to spot favorable opportunities, how to bet, and how to avoid the attentive eyes of bookmakers. While it’s a difficult process to perform manually, web data scraping can become an answer to the most complicated part of it. Thus, you can invest in scraping software or order a data delivery service to get all the necessary information extracted and ordered. To decide what is better in your case, schedule a free consultation with our expert and start profiting in the nearest time already.
Publishing date: Sun Apr 23 2023
Last update date: Wed Apr 19 2023