In the fascinating world of sports betting, bookmakers always tend to have the hand over the punters. That is how the industry works. But if you have the right guidance, you can change the table for yourself. And that is where our guide to arbitrage betting comes to play.
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Arbitrage betting is a very innovative form of sports betting strategy that seasoned punters use all the time. If you are on your way to mastering the art the sports betting, you are in the right place.
The best bookmaker for Arbitrage Betting in Canada
What is Arbitrage Betting?
There is a slight chance that you have not heard about arbitrage betting. It is one of the most effective bets you can place on any sports to guarantee yourself a win regardless of the outcome.
Arbitrage betting is also known as Arbing. Arbing is when you place the same bets but on opposite outcomes. And you do it in different bookmakers in Canada. Sounds intimidating? Yes, it takes a little more effort and understanding of the odds but doing it right can always ensure your profit.
The reason why arbing is profitable is the difference between odds offered by different bookmakers. You see, multiple sportsbooks might offer the same events with the same markets, but the odds vary a little. And the discrepancy between the odds is your target as the punter.
Arbing is often done by placing bets on the highest odds offered on any event. In most cases, there are two teams or two players. You place your bets on one team or player on one sportsbook. And do the same for the opponent on a different sportsbook.
This way, you cannot lose your bet. This is perfect for events with only two outcomes. Like you would see in basketball matches or tennis. Either one of the players or teams must win. Hence, you make a profit with your stakes.
When multiple markets are in question like a draw in soccer, arbs tend to be a little less effective. A rule of thumb to follow in Arbitrage betting is to make sure the outcome of your bets goes over the stake.
If you find it complex, let us break it down for you. Suppose, you are planning to wager C$500 for arbs. And you place 5 different bets on various bookmakers in Canada. You must select your bet slip in a way that each of those 5 bets returns you more than C$500. Only then you can make a profit and eliminate all your losses.
Due to the surefire nature of the betting, arbs are often called sure bets or miracle bets among the punters. Although there was no miracle involved, it is just simple mathematics.
Even some of the online bookmakers in Canada offer arbitrage betting. They are known as betting exchanges. They legally allow you to bet for and against the same event, in exchange for a commission.
Why Punters Should do Arbitrage Betting?
The biggest reason you should utilize the potential of arbitrage betting is that it does not have any legal restrains. The existence of multiple sportsbooks at a given moment opens up the door for arbing and make profits from sports betting in Canada.
Each of the operators has its own team of experts who come up with the odds and betting lines. Basically, all of the numbers you find on a sportsbook are very cleverly calculated to get the upper hand over the punters.
That is why you should go for arbs. Just as bookmakers are here to make money, you are here to make money as well. There is no reason to let the opportunity slide. If your odds are the same for an event offered by different operators, you still do not lose any of your money. And that is the beauty of arbitrage betting.
Offering exactly the same odds is something you do not come across very often. Each operator’s perspective to different sports and the teams are different. So, the odds are bound to be different. The more difference there is, the more money you can expect to make from arbing.
The thing to keep in mind here is that you cannot expect to become a millionaire overnight. As you are dividing your bets into smaller portions, the profit becomes less as well. If you make a 5% profit from a single bet, that would be a miracle!
Arbing is a game of patience, passion, and your will to stick to sports betting. Arbitrage betting is perfect for long-term bettors and they can make it a sustainable income. Also, there might be multiple opportunities for arbing during the day! So, why not utilize the chance to make some money and have fun at the same time?
Maximize Your Advantages with Arbitrage Betting
The thing with arbing is that you cannot shoot blindly to make profits. You must use some strategies to maximize your advantages with this type of betting.
Research Your Sports
It all starts with research. The more you research, the more understanding you will have about sports betting. Whatever your favourite sport is, know it inside out. Understand all the different outcomes. Study the previous games for at least 1 or 2 years. Understand the players.
Is the team dependent on one star player? Or does it perform as a whole? How is their performance in different weather conditions? Do they play well during the day or night?
Knowing all the different aspects of a sport will allow you a unique perspective on a team. And when you finally visit an online bookmaker, you can read odds like never before! You will clearly understand which bookmakers to use for which case.
Clever Use of Software
Moreover, arbitrage betting follows mathematical formulas. If you do not want to figure out the numbers by yourself, you can take help by all means. There are multiple arbing software scattered around the internet, waiting for you to take advantage of them.
‘Matched Betting Calculator’ is a very good example of such software. It allows you to input your stake, the odds offered by the bookmaker, any commissions associated, etc. Then it spits out numbers that you want to see. You can get a quite accurate estimate of how much you need to spend and how much you can expect to win.
Using Betting Exchanges
The introduction of betting exchanges has taken the potential of arbitrage betting to a different level. Betfair Canada offers great opportunities for such exchanges. You place a bet on a bookmaker and lay the same outcome at the exchange in turn for a commission.
That is where the software we talked about comes into play. The software can give you the exact figure you need to lay to make profits. Betting exchanges list all the opportunities of arbing the occur in a day. So, you do not have to spend hours looking for the right one.
Calculating the Scenario
As we have previously mentioned, arbitrage betting is mostly used by veteran punters. And there is a reason for that. Where most rookie punters go wrong is they think there is a chance for arbing when there actually was not.
It is because of how the house edge is kept at different bookmakers. To avoid such a scenario for yourself, you must understand IAP (Individual Arbitrage Percentage) and TAP (Total Arbitrage Percentage).
For any team or individual player, you will find an odd offer by the operator. Let us take 2.10 for one team and 2.0 for the opponent as an ideal odd. The formula for IAP is:
(1/odds)x100
= (1/2.10)x100 [using our 2.10 odds]
= 47.62
Doing the same for the opponent:
(1/2.0)x100 [using our 2.0 odds]
= 50
So, we have to 2 IAPs of 47.62 and 50. Now, it is time to calculate TAP. We just add the individual arbitrage percentages to calculate the TAP.
For our scenario, we have TAP = (47.62+50) = 97.62.
It is a value below 100. This indicates that in this scenario, arbitrage betting is possible. If the value went over 100, arbing will not work because the house edge is greater.
Arbitrage Betting Example
Now that you have a clear understanding of IAP and TAP, you can calculate your estimated profit for that scenario. For this to work, you need to allocate a total wagering amount that you will distribute among the two opponents.
If we take our previous example, let us denote the teams by Team A and Team B. And we have a budget of C$400 for this arb.
The formula for maximum profit is: (Total x IAP)/TAP
For Team 1, it is (400 x 47.62)/97.62 = 195.12.
For Team 2, it is (400 x 50)/97.62 = 204.88
What it indicates is that you should wager C$195 in favour of Team A and C$205 for Team B.
If Team A wins, you get (C$195 x 2.10) = C$409.5
If Team B wins, you get (C$205 x 2.0) = C$410
As you can see, whatever the outcome is, you can expect to profit C$10! You just fill in the gaps with your favourite sport, the odds offered by the bookmakers and the outcomes. You can get a very clear idea about what you are looking at long before you actually make the bet.
And that is the beauty of arbitrage betting.
As we have talked a lot about arbing, we think it is fair to give you an overview of the pros and cons you are looking at.
Pros/Cons
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Odds
The fundamentals of arbitrage betting rely on the odds. The better the odds you can find, the more profit you can make. And for that to happen, you must find the most favourable odds for two teams or players on different bookmakers.
Let us take a look at a table with our previous example of Team A and Team B.
| Bookmaker | Team A Odds | Team B Odds |
| Bookmaker 1 | 1.90 | 1.92 |
| Bookmaker 2 | 2.15 | 1.85 |
| Bookmaker 3 | 1.90 | 1.95 |
| Bookmaker 4 | 2.05 | 1.80 |
| Bookmaker 5 | 1.80 | 2.05 |
As you can see, different sportsbooks in Canada look different at each team. For some bookies, Team A is a clear favourite where Team B is preferred at the other. Your job is to find the best odds for both and place two opposing bets.
For Team A, the best odds is 2.15 at Bookmaker 2. So, you place your bet at Bookmaker 2 in favour of Team A.
Similarly, Bookmaker 5 offers the best odds on Team B which is 2.05. You may place the bet here in favour of Team B.
Now, it does not matter if Team A wins or Team B wins, you are going to make a profit. How? Look at our discussion regarding IAP and TAP again!
And that how odds play the largest role in making arbitrage betting a feasible idea for you!
Arbitrage Betting Offers and Promotions
The nature of the betting goes against the bookmakers. So, it is very unlikely that you will come across a bonus or promotion for this betting. However, you do not need any bonuses or promotions because you know it is a surefire way to make profits by the hour!
Millennial family excited about arbitrage betting
What are the Alternatives to Arbitrage Betting?
If you are sad because the profit margin with this betting is quite low, do not be! We have got you covered with some alternatives to arbing. Let us get right to them.
Matched Betting
Many punters get confused between arbs and matched bets. But are very similar in nature but not the same. In matched betting, you use your free bets for the back bet and use real money for the lay bet.
This way, you do not have to spend double the amount for arbitrage betting. If your lay bet wins, you are in luck because you can withdraw the money immediately. If your back bet wins that you placed using the free bets, you are in luck again because you can use the free bets again to do the same thing!
In the meantime, you will be completing your wagering requirement as well. In no time, your real money account will be flooded with the winnings. So, consider matched betting if you have the chance. Most operators offer free bets as a welcome bonus or reload bonuses. Utilize them!
Live Betting
Live betting is a great source of entertainment as well as making money. If you do not want to take the risk of arbs, you can certainly enjoy your punting session with live betting. Most modern bookmakers in Canada offer live betting.
In live bets, you make bets and make changes to your bets while an event is live. You can place counter bets to minimize your losses if your previous predictions seem to fail.
System Betting
System betting takes up a huge portion of the sports betting industry and it requires its own guide. But in short, system betting means following mathematical formulas derived by the best minds in the world to cover your losses.
The Martingale System, the Kelly Criterion, The Fibonacci System, the Zig-Zag theory, etc. are some of the best system betting strategies you can follow.
Responsible Gambling
No matter which form of gambling you go for, never go over your limits. Responsible gambling is a lifestyle that blends entertainment and income effortlessly. You should always manage your bankroll, no matter how fat your wallet is.
And please try to allocate a certain period of a day for gambling. Do not lose the sense of time and day for sports betting. And do not bet money that you cannot afford to lose.
Recap of Arbitrage Betting
The amazing world of sports betting can offer you a lot. Arbitrage betting is just one of them. You can make steady profits if you play your cards right. Just remember to find the most favourable odds for both parties. And calculate the IAP and TAP properly to see how much you should spend.
Bottom line is, this type of betting is meant for the advanced punter. And if you consider yourself becoming one, you are most welcome to try your skills at the best bookmakers in Canada that we have listed.