Arbitrage betting, also known as sure betting or arbing, is a strategy that allows individuals to take advantage of discrepancies in odds offered by different bookmakers or betting exchanges. By carefully placing bets on all possible outcomes of a sporting event or any other betting market, an arbitrage bettor can guarantee a profit regardless of the final outcome.

The concept of arbitrage is based on exploiting differences in odds or pricing discrepancies among different betting platforms. These discrepancies can occur due to variations in bookmakers’ opinions, the market’s reaction to new information, or human error. 

Identify an event or market:

Find a sporting event or any other betting market where multiple bookmakers or exchanges are offering different odds.

Calculate implied probabilities:

Convert the odds offered by each bookmaker into their corresponding implied probabilities. This can be done by using mathematical formulas or online calculators.

Identify an arbitrage opportunity:

If the combined implied probabilities of all possible outcomes are less than 100%, an opportunity for arbitrage exists.

Calculate the stakes:

Determine the appropriate stake to place on each outcome to guarantee a profit. This is done by allocating the stakes proportionally based on the implied probabilities.

Place the bets:

Simultaneously place the calculated bets on each outcome with different bookmakers or exchanges. It’s crucial to act swiftly since odds can change rapidly.

By placing bets in such a way that the combined implied probabilities are less than 100%, an arbitrage bettor ensures a profit regardless of the outcome. The profit may be small, but it is relatively risk-free.

It’s important to note that arbitrage opportunities are often short-lived, as bookmakers adjust their odds to minimize potential losses. Additionally, successfully executing arbitrage bets requires having accounts with multiple bookmakers or exchanges, as well as the ability to monitor and act quickly on opportunities.

While arbitrage betting can be a profitable strategy, it is generally not encouraged by bookmakers, and they may limit or close accounts of individuals suspected of engaging in arbitrage betting. Therefore, it’s essential to approach arbitrage betting with caution and ensure compliance with the terms and conditions of the betting platforms involved.