When starting from zero in the bank, this article should help you and if you will be interested you can later on join us as soon as you are ready!
My first contact with sports betting was in 2009 thanks to friends who were already betting online. It was through them that I learnt about arbitrage betting. I didn’t have any previous experience with betting on sports but I considered arbitrage betting because it was safer (the outcome is calculated) and it meant I couldn’t get addicted to any bad gambling behaviours.
Since the very beginning I kept to strict rules about what kinds of bets I would arbitrage and followed this strategy that has allowed me to make hundreds of thousands of Euros and helped to make several tens of millions € overall for my friends, our community and the team which has got bigger since then.
Study the basics
First thing before I started betting was to spend time studying what arbitrage betting was. I had to learn how it all works and how it could be used to make more money online. Studying it was easy and honestly everyone can learn this – it just takes a bit of time. I remember my friend explaining to me how Asian handicaps, total over, under, and European handicaps work. I kept the notes of these conversations in my friend’s handwriting – as it’s a reminder of how I started this career. Nowadays, all of these explanations of course can be found anywhere online.
Understand the maths
Next step was to understand how betting works and the financial outcomes behind it. How much is taken in fees and how much you take in winnings when odds are played. Understanding what happens when your team loses is just as important. These are basic questions which I needed to have clarified in that time. For instance, bookies offer different types of odds but all of them mean the same. Most common for me was decimal odds and these work very simply.
Decimal odds may look like 2.0 which is even money. For example, in a tennis match Nadal against Federer, if we think they are both equally good and having same chance to win it says you risk 100EUR to win 100EUR if you player win. You can lose 100EUR too if the player you bet on loses.
The very good news which appeared was the fact that there already existed arbitrage betting software or web pages which scanned bookies odds and displayed arbitrage opportunities. The reason why it is good news is the fact that it saves time and gives opportunities to understand arbitrage betting much easier.
Thanks to similar software anyone could start doing arbitrage betting – without any special skill or spending lots of time browsing the internet bookies one by one, event by event. Collecting information helped me also understand how different bookies work and when and where an arbitrage opportunity typically appears.
Making money from arbitrage betting would be not sufficient for most of us because in most of the cases margins are low, limits small and fact that bookies were restricting players doing this by closing accounts and limiting players to even smaller max stakes. There are exceptions to what I say of course in some cases where margins for winning or losing are huge, limits incredibly high and bookies who do not limit players at all. You will meet with all of these situations when you deal with arbitrage betting over a longer period of time.
Before I mapped the whole market, I could only work with information received in that moment. Really soon after I decided to take arbitrage betting seriously, I found myself facing the question how to move money around into and out of the bookmakers cheaply and quickly. I was advised by my friend to use Moneybookers (nowadays known as Skrill). It cost only 0.5 EUR to send money to another person and it was free for depositing money in and back to the bank account. It was a safe and guaranteed way to protect deposits up to 100, 000 EUR.
But most importantly, it was possible to send money to bookmakers quickly and also receive money back to our ewallet quickly too and it was completely free. Nowadays I know that using ewallets can make you extra profit but at that time, I was not simply aware of this! Back in that time lots of new bookmakers offered welcomed bonuses to bring and attract new players and ewallets were not excluded in terms of the player rules and conditions so it was also a quick first step to make additional money.
Tricks of the trade
All it took to do was read the terms of bonus condition and follow the rules which usually required me to wager and deposit a certain number of times (let’s say 10 times) to minimum Y odds (e.g. 1.5). While I started with 250EUR I focused on small bonuses between 10-35EUR, and I was repeating many times although it happened upon, I talked and agreed with another friends who sign up for bonus and I helped them to meet bonus conditions – it was win-win situation and absolutely legal although bookmakers may not always like this practice. It helped me to manage a bigger bankroll to arbitrage bet and make new connections, so I could later focus on higher bonuses.
Simply risking money to bet 10 times even if I bet on minimum odds requirement 1.5 could cause me to lose my first deposit and probably, I would never be able to build a business on sports betting. This scenario is exactly what Bookmakers expect to happen, bring you to start bet first, create addition – make you like the platform and so you bet your money when you think this team will win or this game will be scored at least 3 goals even if it is against logic and you act just because of emotions, you may even like it for a while but it turns soon you try to catch up previous losses or you look for some strategy which never works (and cost you everything) this all helps bookmakers to run their business and also reason why they offer it so often.
It is good to ask if a bookmaker’s behaviour is fair, and the answer should be definitely no, unless bookmakers would intentionally offer fair odds (fair prices means a situation where odds reflect real probability). This however does not happen and bookmakers intentionally try to offer undervalued odds – unfair odds. The situation when they offer fair prices occurs often by mistake (because maybe of uncertainty of what the price should be) or simply because they are forced to balance their books.
Seeing the wood from the trees
Just a simple example of how fair odds should look – which reflects the real probability of tossing a coin:
There is indeed this option often offered by sportsbook too. You can find it under option “who will serve first” or “which will kick off the game” when it comes to the tennis match or football match before kick-off where the referee is flipping the coin and asks each captain to choose heads or tails. And you can guess what odds usually are offered by bookies to this obvious happening.
If you think a bookmaker is friendly then you will say odds are close to 2.0 or even money. Unfortunately, bookmakers often offer odds 1.8 or 1.9 to this flip of coin. We just may ask if this is fair and of course from a mathematical view is certain that if we bet once we may be winning as much as 80-90% while risking 100% but if we continue to bet, we soon find ourselves in big problems forcing us to lose everything.
The answer to what is a fair price here is definitely that bookmakers should offer odds 2.0 to deliver fair service. Arbitrage betting basically offers a way to beat this big gap between the prices and thanks to many factors, get fair prices and also prices which are above the fair price (also known as value bets) which cause us to make profit.
Discipline and patience are required!
Arbitrage betting helps outsmart bookies and allows players to win independently of the result of a sports event’s outcome. This situation occurs where prices on events differ. Thanks to the fact that you can bet on each outcome of an event you never lose your money even if you keep them separately with different bookmakers. Only thing which happens to you is that money moves from one place to another.
Thanks to arbitrage betting, you can easily finish most of the bonus conditions and so you turn the bookmaker’s sign up offer into your own money and what’s more you will never need to put your own money at risk. Your conscience also does not suffer from losing real money bets. There is no reason to raise stakes or catch up on losing streaks.
If you found this article useful and if you decide to start to make money online from learning how to arbitrage bet on sports – get in touch with us! There are many ways to earn money online using sports betting and arbitrage to do it!