What Is Arbitrage?
Arbitrage betting (arbing) exploits differences in odds between bookmakers to guarantee a profit regardless of the outcome. You bet on all possible outcomes at odds that total less than 100%.
For example, if Bookmaker A offers Team X at 2.10 and Bookmaker B offers Team Y at 2.10 in a two-way market, the combined implied probability is 95.2%. Betting both sides guarantees ~5% profit.
Arbs occur because bookmakers have different opinions or react to market moves at different speeds. These opportunities are usually small and short-lived.
Finding Arbitrage Opportunities
Calculate the arb percentage: (1/Odds1 + 1/Odds2) × 100. If this is below 100%, an arb exists. The profit margin = 100% - arb percentage.
Arbs are most common in tennis, basketball, and other high-liquidity sports. Pre-match arbs are safer than live arbs, which can change before you place all bets.
Many arbers use automated software that scans multiple bookmakers and alerts them to opportunities. Manual arbing is possible but time-consuming.
Risks and Limitations
Bookmakers don't like arbers. Consistent arbing leads to account limitations, reduced maximum stakes, or closure. This is the main obstacle to long-term arbing.
Other risks include odds changing before you complete all legs, human error in calculations, and limits on stake sizes preventing full coverage.