Sports betting arbitrage calculators
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What is an Arbitrage Bet? An arbitrage bet is a set of two or more bets placed on opposite sides of a market to ensure a profit. Shrewd bettors who can follow and predict the movement of the market are often able to set themselves up to win a small amount no matter the outcome of an event. Arbitrage Calculator Features The arbitrage calculator for sports betting is fairly simple. It just needs to know the stake you will be betting and the odds offered for both sides of the market.
Calculator Instructions First, enter your stake in the first field. This is the total amount of money you will be wagering on both bets, combined. Second, enter the different prices in American odds into the two fields below. The arbitrage calculator will automatically generate results for you. It will tell you how much money to wager on each bet by calculating a proportion of the total stake you entered, and then give you a return on investment along with a guaranteed profit.
Sometimes a different sportsbook will have different prices and you can arbitrage without having to wait for any market movement. Software There are several websites that offer services to help a bettor find an arbitrage opportunity. They work by scraping the prices from all the events and as many sportsbooks as possible and look for markets where a positive ROI is available from betting on both sides.
How to Calculate Arbitrage Between Two Bookmakers While you can do the math, or set up a spreadsheet to do it for you, the easiest way to figure out if different odds on the same game offers an opportunity for arbitrage bettors are just using our arb calculator. Risk of Arbitrage Betting The Risk in arbitrage betting is virtually nothing if done correctly. However, arbitrage betting isn't dead and there are still opportunities waiting for you, here are some ways to help you find them: Manually It sounds simple, but it is possible to find arbitrage betting opportunities by manually comparing sportsbooks odds against each other.
Although this may be time-consuming, there are various tools on the internet that can help you. For example, there are many different odds comparison sites and tools that make it easier and faster to compare the odds on the same markets from different sportsbooks. Manually comparing and viewing different odds is also a good way to get comfortable and gain a better understanding of sports betting markets and sportsbooks. Software There is software available on the internet that automatically scans and detects arbitrage betting opportunities.
These can be helpful as they remove the manual work from finding arbitrage bets. We are working on some free tools that show potential arbitrage opportunities which we will release soon. Sportsbooks Promotions An underrated method of finding arbitrage betting opportunities is taking advantage of sportsbooks promotional offers. When this happens there is often a maximum stake amount of money you can place on the promotion that you can place on this event, however there is still usually free money to be made.
By being aware of the different sportsbooks that more commonly offer these promotions you can maximise your chances to make a quick profit.
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Suppose exactly this happens. For example, consider the Bengals — Browns matchup on September 17, Currently the Browns are favored by 6. In the case of the pure line, the bookie wants exactly the same amount of money bet on each team. This is the exact same calculation as above.
They lose money. So what can they do? They want to encourage more people to bet on the Browns in order to even out the money. If they move the line from Browns Theoretically, this will move more of the betting from the Bengals side to the Browns side. The bookies will continue this process of moving the lines until, no matter what happens, the two sides have roughly the same payout so that, no matter what happens, the bookie makes money. If anything, bookies are accountants.
Rather, the lines reflect what the general population thinks about sports events and how they bet their money. Because people are inherently biased, the lines are too. Sports betting needs to take this into account.
Let us begin by discussing sports arbitrage betting before displaying our arbitrage betting calculator Sports Betting Arbitrage Sports arbitrage betting is the process of betting on both sides of a game. Because of the intricacies of the existence of multiple bookies and the lines moving, it is often profitable to bet both sides.
Let us deal with two examples. Example 1 is based on different bookies setting different lines. Suppose you are betting on a hypothetical Giants — Cowboys game. You notice that a book in NY favors the giants more than one in Las Vegas. If you think carefully about our above discussion, this is probably because more New Yorkers want to bet on their own team so money came in on the Giants. The Vegas line sees the game as a tossup so it has both teams at What happens then?
Because of the different odds offered, you were able to game the system to profit no matter what happened. Four Steps to Sports Betting Arbitrage The first step in arbitrage betting and building an arbitrage betting calculator is to find two lines at different sportsbooks that are sufficiently far from each other. NOTE: this is the hard part, modern books try to safeguard against arbitrage betting and so will often match other books closely.
But, if the lines are different there is a chance you can swing it. This includes the original bet. Step 3: Add together the two bets from step 2. Step 4: Place your bets in the same proportion as computed in step 2. If I want to make more money, I can increase my bets but I need to keep the proportion the same. The next section, our sports betting arbitrage calculator, computes steps 2 through 4 above for you. To use this for arbitrage betting, you simply enter the two lines you intend to bet on and the total bet and the calculator tells you how much to place on each wager.
It will also compute your profit in the last line. It is important that it you guarantee a win on either Line 1 or Line 2. That is, Line 1 and Line 2 should usually be betting on a specific team to win in one case and lose in the other. Our Arbitrage Betting Calculator While the sports betting arbitrage calculator above tells you how to place your bets, it is important that you are able to place your bets quickly to avoid the lines changing.
If this happens, your sure thing turns into an actual bet. Mathematical Modeling for Probability Predictions The second way to make money on sports betting is to identify lines that are extremely far from where they should be. The way to do this is through mathematical modeling and being able to accurately guess the probability of one team or another winning.
Let me illustrate this with an admittedly contrived example. The ability to automatically round your stakes makes this arbitrage betting calculator extremely useful for arbs with soft bookmakers. Soft bookmakers are quick to limit the stakes of those who they believe are doing arbitrage betting. Of course, this must be used in conjunction with other tactics, known as 'defensive arbing'. Calculator Instructions Select how many legs there are for your chosen arb Enter the approximate combined total stakes for all bets you would like to wager on this arb Enter the best available decimal odds for each leg Let the arbitrage calculator reveal whether an arb exists and the relevant profit margin The calculator will also reveal the potential winnings and net profit for each outcome OPTIONAL Select an outcome that you think represents good value.
Bias all bet stakes to maximise profit on this outcome and set the others to break even. Comments, questions or feedback? Have an idea for a great new feature? Please get in contact with me via the contact page! Want to learn more?
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