Gambling can be fun, but do you think you can go next level and become professional gambler who makes his profits from gambling? Yes – it is absolutely possible for gambling to become your main income and in this article we are going to outline some of the most important factors that you need to have in mind if you want to go pro.
Arbitrage betting, also known as “sure betting” or “arbing,” is a strategy used in gambling where a bettor takes advantage of the variation in odds offered by different bookmakers to guarantee a profit regardless of the outcome of an event.
The basic idea behind arbitrage betting is to find discrepancies in the odds offered by different bookmakers for the same event, such that by placing bets on all possible outcomes with different bookmakers, the bettor ensures a profit regardless of the outcome. This is possible because bookmakers may have different opinions or calculations regarding the probabilities of various outcomes, leading to differences in their odds.
Let’s make an example. Chelsea faces Manchester City. There are 3 outcomes, Chelsea to win, the game to end in a draw and Manchester City to win. You have 3 bookmakers where you find best odds possible and change arise.
Let’s consider you find odds like these:
- Chelsea to win: 2.00
- Draw: 4.2
- Manchester City to win: 4.70
Let’s do the math. If you place €100 on Chelsea to win and and place €47.62 on a draw than €42.55 on Manchester City to win, this guarantees you a profit of €9.83 or 5.17% return, no matter the outcome of the game. However keep in mind that this is just an example and not something that might pop off on every occasion . You need to take into consideration, what bookmakers you have available, how much money you can stake when you find the opportunity and most importantly timing when you find the best odds available as odds will eventually change. We will take about arbitrage betting services later, this is just an example of how arbitrage betting works.
Value betting in sports is when you find odds that underestimate the likelihood of a certain outcome. You’re betting on an outcome where the potential reward outweighs the risk and margin is on your side.
A value bet occurs when the odds offered by a bookmaker underestimate the actual probability of a particular outcome happening. This can happen due to various factors such as:
- Bookmaker’s Mistake: Sometimes bookmakers may misjudge the way they form their odds. This can happen especially on markets that are not quite popular.
- Market Movements: Odds can change rapidly due to market movements, news, or changes in betting patterns, creating opportunities for value bets.
- Inefficiencies in Odds Setting: Bookmakers may not always adjust their odds quickly enough to reflect changes in circumstances, leading to value betting opportunities. For example betting higher stakes on a game from second division in Slovenia might lead to changes in odds everywhere, because the game is not popular and there is no liquidity. In this case you may find odds that are better in certain bookies.
Bonus hunting, in the context of bookmakers and online gambling, refers to the practice of exploiting promotional offers and bonuses provided by betting websites to guarantee a profit or gain an advantage.
Here’s how bonus hunting typically works:
- Sign-Up Bonuses: Many bookmakers offer sign-up bonuses to attract new customers. These bonuses often come in the form of 100% cash bonus, freebets or other form of promotion.
- Terms and Conditions: Each bonus usually comes with terms and conditions that specify how it can be used and withdrawn. These terms may include deposit requirements, wagering requirements, minimum odds for bets, and restrictions on specific markets.
- Arbitrage Opportunities: Bonus hunters look for opportunities where they can use the bonus funds to place bets on all possible outcomes of an event with different bookmakers, effectively guaranteeing themselves a profit regardless of the outcome.
So when you combine arbitrage betting with bonuses you can easily convert the bonus balance to real balance and you can withdraw the winnings. Bonus hunting can be lucrative, but it requires careful planning and understanding of terms and conditions. Bookmakers may also have policies to detect and prevent bonus abuse, such as limiting bonus eligibility or closing accounts of bonus hunters. You always have to read the terms and conditions in order to maximize your winnings.
Matched betting is a strategy used to profit from the free bets and incentives offered by bookmakers. It involves placing two opposite bets: one to cover all outcomes and one to ensure a profit, regardless of the result. Matched betting is usually done with betting exchange like Betfair, Smarkets or Matchbook.
Let’s say a bookmaker offers a £20 free bet for new customers who sign up and place a £20 bet on a football match between Team A and Team B.
Qualifying Bet with the Bookmaker:
- You place a £20 bet on Team A to win with the bookmaker.
- You also place a corresponding lay bet (betting against Team A) on a betting exchange.
- If Team A wins, than you have the money in the bookmaker and depending on the wagering requirements you may withdraw or you need to continue wagering in order to complete the terms of the bonus
- Your lay bet on the exchange wins and you pocket the bonus money from the promotion of the bookmaker you have used.
Matched betting is usually a term involving betting exchange. If you country does not provide services like Betfair you can just place a bet on another bookmaker in order to have all outcomes available and this is called Dutch betting, however laying a bet on exchange is always more lucrative due to the value and the odds exchanges provide.
What Are The Cons When Using Arbitrage And Value Betting?
In theory it sounds easy, you can do this every day, find the best markets possible, use promotions to maximize your profits… Sound good isn’t it? When you start doing this and see profits you will be happy, however when you see some good profits in the beginning you will find the ugly truth as we call it 🙂 Bookmakers do not like professional bettors and winners. If you continually win and find the best odds at certain bookmaker you will have your account limited and restricted of promotions. This is a business after all and if the bookie flags you as a winning player sooner or later your account will have no use and you will me limited to pennies. So what you need to is having more accounts at new bookmakers as possible. Every new bookie is welcome, where you can practice the same strategy and maximize your winnings.
Have Accounts at More Bookmakers As Possible
When you have successfully mastered the art of winnings in bookmakers, the key factor is new sites. New promotions, new limits, new place to explore and win some money. Always keep an eye on the newest bookmakers to play, check their reputation and if the bookie is reliable you have another option to practice the methods we explained. Take a look at our current favorites and check our review section for more available options