Arbitrage Betting Made Easy
What is arbitrage betting:
Unless you are a skilled mathematician who specializes in probability and percentages then you’ll probably find most explanations of arbitrage betting technical and confusing. Basically arbitrage betting is what allows a gambler to make more than one bet on the same thing, this is sometimes called hedging your bets. Still confused? Let me explain. Here is a video to explain arbitrage betting further.
The benefits of arbitrage betting
Let’s say that you want to make a bet on a football game, let’s use this most recent Super Bowl as an example. You want to gamble without losing money so here is what you do, you go to one bookie or betting venue and bet 500$ that the Falcons will win then you visit a different bookie and bet 500$ that the Patriots will win. This is arbitrage betting, now you have placed money on the only two outcomes of a particular bet which means that no matter who wins the game you will win the bet. Some people will place over a dozen bets in this way to ensure that they win some of them, depending on the odds not only will they make back what they put out but they will also make a profit.
Why arbitrage betting is a bad idea
While arbitrage betting is not technically illegal it is very frowned upon. Bookies take bets to make money so they don’t want to make a pay out to people who are betting on either side. Bookies also don’t enjoy sharing business with other bookies which brings us to the negative aspect of arbitrage betting. As I said this form of wagering is not technically illegal but if a bookie catches it he can decide not to pay out the winnings to the gambler. Since most arbitrage betting tales place in less than legal circumstances, often under the table, then the gambler has no way of arguing his case. There is also the fact that arbitrage betting is only worthwhile if someone places large amounts of money a on his bets.
Arbitrage Scams
Because this type of betting works better if the gambler remains anonymous many of them have made use of online betting, unfortunately scammers are aware of this. Scammers will set up fake arbitrage betting sites promising large payouts and then once people enter their credit card or bank information it’s all too simple to steal every last penny. So while this kind of gambling may seem like easy money it rarely is.