What is Arbitrage Betting
Arbitrage betting is a strategy used by bettors to take advantage of discrepancies in odds offered by different bookmakers. The goal is to place bets on all possible outcomes of a sporting event in a way that ensures a profit, regardless of the final result. This is possible when the odds set by different bookmakers for a particular event are sufficiently different.
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Arbitrage Betting
Here’s a step-by-step guide on how to safely engage in arbitrage betting with OddsJam:
Find Discrepancies in Odds:
Use OddsJam’s platform to compare odds across various bookmakers for a specific event. Look for instances where the odds for all possible outcomes create an opportunity for arbitrage.
Calculate Implied Probabilities:
Convert the odds into implied probabilities. This is done by dividing 1 by the decimal odds. The sum of the implied probabilities for all outcomes should be less than 1 to create an arbitrage opportunity.
Identify Arbitrage Opportunities:
Look for situations where the combined implied probabilities of all outcomes are less than 1. This means that the bookmakers’ odds are offering a potential profit.
Calculate the Stake for Each Bet:
Distribute your total stake among the different outcomes to guarantee a profit. The allocation of the stake depends on the odds and implied probabilities.
Place Bets at Different Bookmakers:
Quickly place your bets at the bookmakers offering the most favorable odds for each outcome. Make sure to cover all possible results.
Calculate Profit Margins:
Regardless of the outcome, you should make a profit due to the differences in odds. Use an arbitrage calculator to determine the exact amount you stand to win.
Monitor and Confirm Bets:
Keep a close eye on the event and ensure that your bets are confirmed by the respective bookmakers. Sometimes odds may change, so it’s crucial to act swiftly.
Withdraw Profits:
Once the event concludes, withdraw your profits from each bookmaker. Be aware of any withdrawal fees and ensure that your accounts are in good standing.