If you are new to arbitrage betting, you are surely wondering if it is a betting strategy that ensures a profit. If you have done it before, you are probably wondering if it’s still possible to do it in 2022.
Fortunately, the answer to both of these questions is ‘yes.’ It is indeed a strategy that ensures a profit once the bet is over, and yes, it is definitely possible to do arbitrage betting or arbing, which is a common term that’s also used.
What is Arbitrage Betting?
Let us first define and explain the term through some examples of arbitrage betting and then look at the state of arbitrage betting today and how BetInAsia can be your door to arbitrage betting in 2022.
In short, arbitrage betting entails covering all possible outcomes of an event so that your profit is guaranteed, whatever the outcome. How can that be possible, you may wonder? It seems to defy the only rule in gambling and betting – the house always wins.
The house can win with individual punters still profitable, but that’s not the point. Arbitrage betting typically involves placing one bet with one bookmaker or through an exchange and the opposite outcome somewhere else. Bookmakers don’t always agree on the probability of a certain outcome. By exploiting these discrepancies, a punter can ensure a profit at the end of the event, regardless of the outcome.
Arbitrage Betting Example - No complex Maths
There is a lot of mathematics involved, but we will do our best to explain it in layman’s terms without complex formulas and calculations. To make this as simple as possible, we will assume that the event in question has two possible outcomes.
Let’s say that Novak Djokovic is facing Rafael Nadal at the Wimbledon tournament, so it is equally probable for Djokovic to win as it is for Nadal.
A bookmaker would offer both outcomes at 2.0 (evens) if there were no vigorish. As we all know, the bookmakers try to have an edge and the market margins in their favor, so both outcomes will likely be offered at 1.95.
Bookies’ Opinions Differ - That Creates Opportunity
As we said above, bookmakers often have different evaluations of the likelihood of a certain outcome. In this case, we are looking for opportunities where all outcomes from the bookies will add up to less than 100% implied probability, meaning that the market edge will be in our favor.
Following that logic, bookmaker A may feel that Djokovic isn’t that much of a favorite, so the odds of winning are 2.05, whereas the odds for Nadal to win are 1.90. Bookmaker B might think that Djokovic is more likely to win, so they offer Djokovic to win at 1.85, whereas the odds for Nadal are at 2.02.
If you bet Djokovic to win at 2.05 with the first bookie and Nadal to win with the second bookmaker at 2.02, you will make a small profit regardless of the event’s outcome. If you bet 100€ on each outcome, you will start with 200€, and at the end of the match, you will have either 202€ or 205€ in your account.
That may not seem like a lot but bear in mind that we are talking about a sure profit that would be yours for the taking in a short time. If you are wagering larger amounts of money and can find at least several events where it is possible to arb, you can turn a serious betting profit.
To calculate the arbitrage percentage or market margin, you can use the following arbitrage calculator formula:
Arbitrage % = ((1 / decimal odds for outcome A) x 100) + ((1 / decimal odds for outcome B) x 100)
If the value is below 100%, it is considered an arbitrage opportunity.
How to Adjust Wagers in Arbitrage Betting
Okay, you may say – it is easy when we have two outcomes that are equally or almost equally probable, but what about a scenario where the odds for the favorite to win are 1.30. Well, it does not matter much because when you find arbitrage bet opportunity the calculation formula for how to adjust your arb wagers is simple once you know how much you want to invest. It is important to use the correct wagers to return the same profit and be on the winning side.
The formula to calculate and place risk free arbitrage wagers or bets is the following:
Individual bets = (Investment x Individual Arbitrage %) / Total Arbitrage %
For arbitrage betting, let’s assume that you find the odds for the favorite to win at 1.33 and the odds for the underdog or draw bet is offered at 4.50 by a betting exchange via a lay bet (the lay bet is a type of bet that means betting against a certain outcome, in this case against the favorite to win).
Your total investment bet or wager is 1550€, you would need to bet 350€ at 4.50 and 1200 at 1.33 or different amounts while maintaining the same ratio between the two bets. If the said amounts are placed, you will win 1575€ if the lay bet wins and 1596€ if the favorite wins.
Make Sure That You’re Profitable Whatever the Outcome
Considering that the total bet is 1550€, you will have a profit of either 25 or 46, which may not sound like much, but again, we are talking of a guaranteed profit here.
If you know that there is a sure profit and you know what the maximum stakes offered by the two bookies are, you will be able to calculate what is the maximum amount that you could potentially win. We will make a provisional arbing table based on the odds we set in our hypothetical example above.
Knowing all that, it becomes pretty clear why punters are so much into arbitrage betting and are looking for arbitrage betting software or an arbitrage betting app.
Arbing Is Possible via BetInAsia
It all sounds so good, almost too good to be true, doesn’t it?! There are certain limitations, and while arbitrage betting isn’t as simple as in hypothetical examples we presented above, it is very much possible through our partners and products. BetInAsia can be your arbitrage betting app, as we don’t limit punters based on their activities. Arbitrage bettors are welcome here much like all other punters, regardless of whether they are professionals, casual bettors, or somewhere in between.
Limitations of Arbitrage Betting
It is easy to see why bookmakers aren’t very fond of arbitrage betting leading to the question is arbitrage betting legal. The answer here is that it is not illegal, but bookmakers are actively trying to stop it in multiple ways.
Bookmakers differ in their evaluations of certain events and the likelihood of various outcomes, are well aware of the practice of arbitrage betting, and adjust the odds when they realize there is a window of opportunity for an arbitrage bet. Depending on the speed of the odds adjustment, we can divide between sharp and soft bookmakers.
Let’s say we have Bookmaker A that offers 2.02 odds on a particular outcome and Bookmaker B that offers 2.04 for the opposite outcome – punters especially experienced arbers will notice that, but so will bookmakers and the first thing that they will do is adjust the odds so that arbing is no longer possible.
Account Limitations
But even if you manage to place arbitrage bets and earn a profit on an occasion, bookies will take note of that and will probably limit your account and prevent you from placing similar bets in the future.
And what’s even worse, bookmakers might even void your bets if they suspect or have a reason to believe that you were arbing. And since you are placing two bets with two different bookies, you might find yourself in a situation where one wager is voided, but the other isn’t, in which case your risk losing half of your stake, and that’s very much the opposite of sure profit, making arbitrage betting not a risk free strategy.
Do Bookies Know You’re Arbing?!
The answer to the question above might not be a resounding ‘yes’ or ‘no’, but they often have a strong reason to suspect that a player is arbing, and in most cases, that is good enough for them. We told you bookies aim to limit arbitrage betting, but how can they know that you are arbing?
After all, you are placing the bets with different bookies; how can one operator know that you have placed an opposite bet somewhere else?! Of course, they can’t tell with a degree of certainty, but certain indicators alarm bookies.
Betting on Lower Leagues & Less Popular Events
The first indicator is when a punter places bets only or mainly on lower league matches, unpopular tennis matches or horse racing events, and/or less popular sports. These events usually offer more room for arbing, as there can be bigger differences between various bookmakers and lines move in terms of the odds. Bookmakers’ software and algorithms are triggered by these things and sometimes even automatically limit punters who primarily bet on lower leagues and less popular events or sports.
Placing Odd Stake Amounts
Why would somebody bet 113.7€ and not at least 115€? Well, there’s one plausible explanation – they are arbing, and they want to ensure that they will be profitable. Of course, there are other possible explanations, and you won’t get in trouble for placing a single bet at an odd amount, but if you do that often enough you will find your account limited pretty soon.
Placing Multiple Wagers on the Same Outcome
Odds changes and other fluctuations have a huge impact on arbing, and players often make calculations and decide whether they should place more money on one or both possible outcomes. So, if the bookies notice that you have placed multiple wagers on the same market and the same outcome, they have a reason to suspect that you’re probably not a casual punter and, to take it one step further, that you are probably an arber.
Is Arbitrage-Friendly Betting Possible with All These Limitations?
With all the limitations listed and explained above, it becomes quite clear that arbitrage betting today is not an easy mission. That’s why punters are looking for a viable option that will allow them to place arbitrage bets.
We already told you that BetInAsia allows and accepts arbitrage betting, and we are going to dig into the details below.
Betting Exchanges and Their Attitude Towards Arbing
While conventional bookmakers aim to limit arbitrage betting, betting exchanges generally allow arbitrage betting.
That is because betting exchanges operate differently. Namely, a betting exchange allows punters to bet against other punters rather than the house.
The exchange may still offer odds as a suggestion, but if two punters agree to place opposing bets on the same event and the same market, they can do it at slightly different odds than the ones suggested by the exchange.
A betting exchange will only charge a commission on a winning bet, so there is no impact on the odds, and it’s much easier to calculate the costs and the potential gains.
There are lots of options when it comes to betting exchanges, and you always have the option to place one bet with a bookmaker and an opposite bet at an exchange, provided that you find a punter who is willing to take up your offer.
Odds Fluctuations - How Fast Do They Change
Odds change over time and there is one significant difference between bookmakers when it comes to setting and amending the odds on a given market. Some bookmakers act a lot quicker when any potential changes can impact the odds, and they amend the odds automatically or semi-automatically.
Sharp Vs Soft Bookies
Other bookies aren’t so flexible and change the odds with lower frequency. The bookies that make changes more often and respond to news and even betting volume are known as sharp bookies, whereas the less reactive ones are known as soft bookies.
Let’s imagine a scenario where you see the odds change at a sharp bookie, but soft bookies haven’t reacted to the changes yet. In that case, you can place a bet on the adjusted odds at the sharp bookie for the outcome for which the odds have gone up and place a bet on the opposite outcome with a soft bookie.
How is arbitrage betting possible at BetInAsia?
Well, it is really simple – we won’t limit your betting activities if you’re arbing. You are free to continue finding betting opportunities regardless of your betting practices since arbitrage winners are accepted.
We already mentioned that arbitrage betting is possible via BetInAsia. Still, we didn’t mention that we give you access to some of the world’s leading bookmakers and arbitrage betting sites, including sharp bookies, specialized providers, and, perhaps most importantly, some of the most renowned betting exchanges.
BetInAsia BLACK
Through our BLACK platform you will have access to exchanges like Betfair, Betdaq and Matchbook, but also several sharp bookmakers like SingBet, 3et, and PS3838. PS3838 is also available as a standalone betting account, but also within the Black platform.
Orbit Exchange
In addition to access to our BLACK platform, you will also be able to access Orbit Exchange, and as we mentioned, we also offer standalone accounts. Orbit is a very popular platform; it is a white label of Betfair, arguably the largest and most renowned betting exchange. Orbit offers the same functionality and all options provided by Betfair. Moreover, we also provide exclusive services, you can place bets via some of our communication channels like Skype and Telegram.
API Connection to Support Your Arbitrage Betting
As a testament to our willingness to accept all punters and give them a chance to be successful arbers and get the best possible advice on which bet would give them the best chance to be profitable, we also offer API connection for our BLACK platform. There’s a fee and a turnover requirement, but if you’re a professional punter and you are betting regularly, you might be interested in considering this option as well.
Start arbitrage betting with BetInAsia
Congratulations! If you made it to the end of this ultimate guide to arbitrage betting with BetInAsia, you probably ask yourself how can I start?
Setting up an account with BetInAsia is an easy process where you get access to the best Asian bookmakers and the world’s best bet exchanges, access to a wide range of payment options, fast and dedicated customer service, tutorials, and bet resources. By registering, you can also get access to our test accounts to try out our services. Let’s get started!
Disclaimer: This is not financial advice. Readers are advised to conduct additional research before creating and handling any of these assets.
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