- Introduction to Arbitrage Betting with Oddsmagnet
Do you ever wish that you could guarantee a profit when betting on sports? Surprisingly, there is a technique that, when executed correctly, guarantees a profit each time it is used. This technique is called arbitrage betting, or arbing, and can be used by any bettor in nearly any sport. Let’s take a deeper look into what arbing is, and how it is properly executed.
Arbing is the process of taking advantage of the difference in odds lines of different bookmakers on the same sports event by betting on all possible outcomes to profit. Each time there is a game or match, bookmakers on betting websites will set the odds. The odds for a particular match will likely differ from each betting site, even though the bookmakers are making the odds on the same event. The goal of arbing is to take advantage of these differences in the odds, as these differences in odds have the potential of guaranteeing profit opportunities.
After understanding that different bookmakers and betting sites have different odds on the same events, the next step is to find the best odds on each result. Arbitrage bettors are able to find and exploit these differences in odds by betting on each outcome that is possible, but taking the best odds on each result. Finding these arbitrage betting opportunities is as simple as doing an easy math formula. The formula is as follows : [1/(odds of result A)+1/(odds of result B)]. If the outcome of the formula is above 100, then there is no arbitrage betting opportunity. If the outcome of the formula is less than 100, then there is an arbing opportunity open to be taken advantage of for profit.
To get a better idea of how to find these odds, and how to plug them into the formula, let's take a look at a quick run through. For example, if a tennis match between Roger Federer was to be played, betting sites would have differing betting lines. Let’s say that Betting Site A had Feder as 1.30 favorite and Nadal as a 3.93 underdog. Plugging these numbers into the formula [1/(1.30)+1/(3.93)], we get 102.37. This 102.37 can be considered as a percentage, meaning that the bookmaker is taking a 2.37% profit margin from this match. The odds are set up so the bookie makes money, regardless of the result.
Continuing the sample example, let’s say that Betting Site B has Feder as the 1.42 favorite with Nadal as the 2.90 underdog. Plugging these odds into the formula [1/(1.42)+1/(2.90)], we find that it yields 104.91. Again, the bookie is ensuring that they will collect a profit, regardless of the result. On Betting Site B, the bookmaker is collecting a 4.91% profit margin, leaving no room for arbitrage betting.
Now, using arbitrage betting, we will take the best odds on each possible result, plugging them into the formula to see if there is an arbing opportunity for profit. The best odds for Federer to win are 1.42 from Betting Site B, while the best odds for Nadal were 3.93 on Betting Site A. Plugging these odds into the formula, [1/(1.42)+1/(3.93)] yields 95.87. Since this total is under 100, we now know that there is money to be made with this matchup by betting on each outcome. There is a 4.13% gap between this number and 100%, confirming that there is an arbitrage betting opportunity. Since the formula yielded an outcome less than 100, we can confirm that betting on both outcomes via different betting sites will result in a profit. With this information, use a quick google search for an arbitrage calculator to find out just how much you’d have to bet to guarantee a profit.
When it comes to arbitrage betting, there is no greater tool than Oddsmagnet. Oddsmagnet does all of the hard work for you, as it collects the odds for hundreds of thousands of matchups across dozens of different sports. With this betting information compiled, all you have to do is browse through the matchups to find arbitrage betting opportunities. Oddsmagnet understands the great potential that arbing provides, as it is the only way to guarantee profit when betting on sports.
To find your own arbitrage betting opportunities, apply the formula, [1/(odds of result A)+1/(odds of result B)], to any betting matchup. Oddsmagnet has the odds of multiple sportsbooks on the site, making it the ideal weapon against the bookies. Simply plug in the data given by Oddsmagnet to see if there are any matchups that can be taken advantage of. For more articles that go in-depth with arbing, follow Oddsmagnet.