It’s hard to find any sympathy for bookmakers. They take their margins and make their millions in what is a relatively risk-free business. It’s ok for them to nickel and dime their customers but as soon as the punter finds a way to turn the tables, many bookies respond by suspending players and shutting down their accounts. Who can blame a sports bettor for pursuing any opportunity that gives a bit of an edge?
Many sports betting companies do not like the idea of arbitrage betting. Arbing puts the customer in a position to make guaranteed profits and the bookmakers naturally don’t like it. Well, most bookmakers anyway. It’s easy to see why. The whole business of online bookmaking is designed to make profits for the betting companies and not the bettors. Sure, bookies accept that sometimes their customers win because it’s just the nature of the business. But they cannot stand it when the sports bettor always wins. This is why many online betting companies are on the lookout for arbers. If a bookmaker suspects that a punter is looking for a guaranteed profit, the book is quick to put limits on the punter, or, as already mentioned, suspend or possibly close their account. It is a good thing for the profit seekers that there are some online bookmakers that not only allow, but encourage arbing.
Best Bookmakers for Arbitrage Betting
Most traditional sportsbooks look at arbitrage betting as a mortal sin. They do all they can to weed out scalpers. Not at Pinnacle. In fact, Pinnaclesports invites arbiters to ply their trade at their sportsbook. They have so much confidence in their sharp odds and ability to lay off bets that they are the only traditional online bookmaker to welcome arbitrage betting. They claim to have the best odds and the highest limits. They even advertise that they are better than sports exchanges. They take pride in offering the highest limits of any sportsbook in the world which is just what arbers want. You can beat them up as much as you can and they won’t suspend, ban, or even put limits on you just because you are winning too much. With an attitude like this, Pinnaclesports is definitely a sportsbook worth considering when you are thinking of arb opportunities.
How to Avoid Getting Limited by Bookmakers
Most punters place bets in nice round numbers. $5, $10, $50, and so on. The mathematics behind arbing normally call for odd bet amounts such as $892.56, or $79.68. When a bookie notices that one of their customers keeps placing unusual bet amounts, they start to get a bit suspicious. The first thing they think is that the customer is arbing. If the sportsbook is not arbitrage bet friendly, then the punter might soon find that his betting limits have been lowered. While the limits are still enough to place decent wagers with, they make it much less worthwhile to make arbitrage bets. One way of avoiding detection is to bet round numbers. Instead of betting $693.67, make your wager an even $700. Of course, this all depends on the arbor’s margin. The point is, try to have a bit of consistency when placing an arbitrage bet.
Another tactic that “people who win too much” like to employ is a sacrificial losing bet. Sometimes, even the occasional small losing bet is enough to keep off the bookie’s radar. Put $10 on some near impossible long-shot and hope it doesn’t cash. It may seem counter-productive but it can be a relatively cheap way to avoid suspicion.
One of the best methods of avoiding detection is to keep track of your record at the different sportsbooks that you use. If you are ahead at one, then lay the arbitrage bet that is most likely to lose. You don’t really need to care about being down a bunch of money at a book because they like when you’re down. They have a different view of things if you are up a considerable amount. So even it out a bit.
A sensible thing that punters can do to keep off the bookie’s radar is to limit your deposits and withdrawals. The legal betting sites pay the fee for all of these transactions and they might get a little peeved if you are constantly moving money in and out of your account. The fees will add up and the bookie might get fed up.
Remember, it’s just best to avoid being limited because it will severely impact your ability to make decent profits. Taking these steps do not guarantee against detection and limits but they do go a long way towards avoiding them.
Why Should you use Betting Exchanges for Arbitrage Betting?
Betting exchanges are quite different from the traditional bookmakers. At betting exchanges, you are really betting head-to-head with other bettors. You are not betting against the sportbook. The betting exchange takes a commission from winning bets. Punters are not charged juice on each bet like they are at other sportsbooks. One of the best features of betting exchanges is that you will usually find the best odds at them. Quite often, the differences are significant. Because arbers will need to pay a commission on winning bets, it is preferable if the betting exchange is used on the arbing option with the lower payout but this is not always the case. Arbitrage bettors need to do the math.
One of, if not the best place for peer-to-peer betting is Betfair. There is a huge number of Betfair users who offer different odds and as long as you can cover your exposed bet amount, the sky is the limit. Of course, if you are to back a bet with a large sum of money then you will need takers to lay the bet. If you offer $50,000 on a certain play then you will need other bettors to match your action. There is no guarantee that this will happen. You might only be able to find $20,000 of lay bets.
Other major players in the betting exchange business are Betdaq and Matchbook which are both highly respected and great places to seek arbitrage opportunities. Check with GamblingJudge to find the world’s best betting exchanges. While you’re at it, take advantage of one of the many bonuses that are found through GamblingJudge.
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