By Joris Dekkers (e-mail:
[email protected]) This is your copy – enjoy!
© 2007
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CONTENT:
General Introduction…………………………………………………………………..p.3
Section 1: A short introduction in the fundamentals and definitions of sports arbitrage…………………………………………………………………………..….….p.4
Section 2: Step by step practical explanation how you take advantage of an arb..……………………………………………………………..…………..……………..p.6
Section 3: Reviewing OddsandBets and some (free) alternative programs………………………………………………………………………………...p.13
Section 4: Money investment and bankroll management………..…………..p.15
Section 5: The 10 biggest Bookmakers and Bonuses and a list of the most arb productive bookmakers…...…………………………………………….……..........p.21
Section 6: The how’s and why’s of the arbitrage betting system: a thoroughly explanation………………………………………………………………………….….p.24
Section 7: How to apply a zero risk policy whilst arbitrage betting!........................................................................………………………….….p.32
Conclusion………………………………………………………………..…………….p.34
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General Introduction Welcome to the Dominate Sportsbetting E-book and congratulations with this great opportunity. The Dominate Sportsbetting E-book is becoming a worldwide success, with thousands of sales every month. Numerous people have just discovered the great secrets which are currently unveiling inside the sports betting arena. And now it’s your turn. Enjoy! Joris Dekkers, Creator of the Dominate Sportsbetting E-book and creator and owner of http://www.sportsbettingebook.com , http://www.dominateonlinepoker.com and http://www.yesfreecash.com
For whom is this e-book intended and how can it help you? The Dominate Sportsbetting E-book is available for EVERYONE. Legally seen, you must be 18 years or older, but other than that you may come from any country, you may be a woman or man, you may be black or white, it all does not matter.
SportsbettingEbook.com Accepts US Players
Yes, also US citizens can buy this product. Boy, I know, online gambling- and investment players from the US have had a hard time lately. With the Unlawful Internet Gambling Enforcement Act it has been almost impossible to win money via gambling or investing money on the worldwide web for them. Luckily, there are still sites which do allow Americans to play. And luckily too, this ebook can be bought by Americans too. Therefore, there is a chance for them to win some serious money too!
The Dominate Sports betting E-book will teach every reader something. The beginner will profit hugely from it, because he will take the right approach and vision into sports betting immediately. Yes, sports betting is in principle a gambling industry, but with this e-book in hand you will soon see that gambling is not an option for you anymore. You will take advantage of invaluable opportunities where gaining is the only certainty. The experienced sports bettor will find this e-book even more interesting, because he was probably not making smart bets before in order to make huge profits. This e-book will enlighten him and surprise him, in a way that has never been done before.
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Section 1: A short introduction in the definition and the fundamentals of sports arbitrage Sport is emotion. And because of that, sports betting is for most people also emotion. They bet at their favourite team to add a little more excitement to the game. For other people, sport is their ultimate hobby. They know everything about their favourite league/sport. They have statistics on everything. Based on history, they try to bet as effective as possible. Both types of sports bettors will not succeed in making money out of sports betting. Some might make money, but that’s just because of sheer luck. See, it is not emotion or history that predicts an outcome of a sports match. In fact, nothing can predict the outcome of a sports match. This is why, in order to make (huge) profits, you should not make bets based on emotion or historical statistics. Better explained: you shall not gamble, but you shall take a logical approach. This logical approach can be taken because odds compilers who work for various bookmakers are not thinking logically but emotionally and arrogantly too. Hundreds of bookmakers exist on the internet, but all of them have different odds at the same matches. They do not share their knowledge, but they only act upon their own knowledge and thus do not work together. The different opinions that odds compilers have, create wonderful opportunities for us. It is because of them, we exist. We call the logical approach that is needed in order to take advantage of these differences in the opinions of odds compilers arbitrage. Bets you place following arbitrage strategy are called surebets. Sports Betting Arbitrage refers to this: Making a guaranteed profit by backing all possible outcomes of a sporting event at higher than usual odds at competing bookmakers. More fully explained it refers to the fact that you can make money at home on your computer, at your own leisure whilst having complete control of every step. Arbitrage is also completely legal wherever online gambling is legal, it is thoroughly tried and tested, anyone can do it, and it does not involve recruiting or selling anything. The idea is very simple; take for example a tennis match where there are only two possible outcomes. Find odds for player 1 which are
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exceptionally high, then find odds for player 2 which are exceptionally high for that player at another bookmaker. If the odds are high enough you then back both sets of high odds in the right proportion, and regardless of who wins, you make a guaranteed profit. Please note: you will always loose a bet and win a bet. So you will loose money at one bookmaker and win at another bookmaker. When you take advantage of a soccer arbitrage opportunity you will even lose money twice and win once. The thing with arbitrage is however, that your winnings at one bookmaker are always bigger than your loss at the other bookmaker or the sum of losses at two bookmakers. This is why there is always a profit, regardless the outcome of the particular match. The concept is as easy as that. Is there any risk? No. Is it legal? Yes. Does it require exceptional skills? No. Can you make more money than at a regular job? Definitely! We will now step by step explain you all about arbitrage just as we promised on our website: http://www.sportsbettingebook.com
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Section 2: Step by step practical explanation of how an arb works STEP 1: Arbitrage example with 3.57% profit at a tennis match between Jeremy Chardy vs Luis Horna Beneath you will find screenshots of the OddsAndBets program. This software tool scans over 60 bookmakers and searches arbitrage opportunities for you EVERY MINUTE. Yes, that’s right, faster and more accurate than any other software on the market.
Scroll down to view step 2..
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STEP 2: We now check out the odds at the first bookmaker Betfair: 4.48 are the odds for Chardy to win.
Scroll down to view step 3..
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Step 3: Then we check the odds for Horna at bookmaker Bet-at-home: 1.35 are the odds for Horna to win.
Scroll down to view step 4..
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Step 4: For now, we just are going to type in the values in the Bet Arbitrage Calculator v1.0 (you can download this for free here). The calculator divides the amount to bet between the bookmakers depending on what we want to stake (which is now 419 euro).
If you invest €97 with Betfair, you will need to invest €321 with Bet-athome and in one minute you make more than €15 NET profit, whatever the outcome of this tennis match will be. A risk-free profit! Scroll down to view step 5..
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Step 5: Bet €97 at Betfair.
Scroll down to view step 6..
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Step 6: And bet €321 at Bet-at-home.
Step 7: There you go!!! Over €15 IS YOURS: whatever happens in the match!1 Also, in this example we have only risked €419. If we would quadruple that amount to €4190 we would get a profit of €150! You can bet as much as the bookmaker allows you to go! The more money you have in your betting accounts, the more money you can win. And please do not forget, arbitrage opportunities like these arrive every minute. This means that, with a lot of money, you can make hundreds of euros every HOUR! All you will need in the beginning is patience, certainly if you don’t have a large amount of money you wish to invest (begin with at least €3000-€5000). Your winnings will be small and you have to wait some days before you can bet again as you transfer money from one account to another. After some weeks of steady earnings you can 1 In this example we have taken Betfair as one of the example bookmakers. At betfair you always have to pay 5% commission. This means we have to stake more to get the same profit. As this is a general example we haven’t taken it into account. Please be assured that betfair is the only bookmaker you must pay commission. Betfair is however a website that produces by far the most arbs so we shouldn’t consider this as negative. The only thing is to invest more than is common.
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expand and make more money in time. This process will be explained fully in section 4. In the first screenshot you have seen the Oddsandbets program. We believe this is (when you compare price to quality) the best arbitrage finder. The program updates every minute, scans by far the most bookmakers and has a reasonable price. We have, because of the fact that Oddsandbets delivers high quality for a good price, therefore decided to make Oddsandbets our official partner. We want to offer you the best. We will now show you in short what the capabilities of Oddsandbets are and will advice you to get this program as soon as possible. Without this program you will never be a professional arbitrage sports bettor, because you will not be able to find the arbitrage opportunities this quick yourself.
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Section 3: Reviewing Oddsandbets and some (free) alternative programs ODDSANDBETS (varying from $69 to $349 a month, depending on the number of bookmaker accounts) OddsAndBets is in our opinion the best tool ever designed at the (arbitrage) sports betting market. This program spots arbitrage opportunities every minute, alerts you, calculates the profit for you (and how much you should bet per odd given) so that you only need to place the bets. Guaranteed winnings will be the consequence every day. In short, OddsAndBets will provide you the following: 1. 2. 3. 4.
Shows you clearly the arbs available; Alerts you when an arb is produced; Has an Information window; Has an easy-to-use detailed Arb calculator which allows you to make calculations with the arbs received, introducing the amount you wish to bet on one bookmaker, showing the amount to bet on the 2nd bookmakers and the winnings to be made with each spread. Also ready for exchange bookies; 5. Has an option to have your list of bookmakers changed as many times as you wish. This means that you can customize it to your own liking (for example: if you only have accounts at bwin, unibet, betfair and betdaq you can choose to let OddsAndBets only search for arbitrage opportunities at these bookmakers and what’s most important – ONLY pay for those bookmakers!
Get OddsAndBets here
Alternative programs As I mentioned above, Oddsandbets is not the only program on the market. It is overall the best and most suitable for everyone, but there are other programs that are very suitable for some groups/specified needs too. ARBSEEK is a good alternative for Oddsandbets. It takes a very professional approach and therefore is designed for serious-minded and/or expert arbitrageurs. Arbseek is relatively new on the scene of Arbitrage. It seems to have put together quite a comprehensive piece of arbitrage trading alert 13
software which not only does the usual arbitrage discovery and alert, but also maintains a history and portfolio of your bets, your profits and your progress. This is the only software I know which possesses this feature. It has the ability to filter arbs based on sports, bet type, bookmaker, min-max profit, and min-max time away from event. It also has its own browser interface which allows you to trade the arb from within the software. When you find an arb you want to bet on, you set the calculator up (distributing the profit equally, rounded, or speculating on the winner) as you want, then click on the 'place bet' button which launches the browser to the relevant bookmaker sites with all of the information for the arb stored in frames. When the arb has been placed, you press the 'Complete' button, and the arb is updated into the portfolio of your account. The ArbSeek software costs €10 for 3 days, €50 a month, €135 for 3 months or €500 a year. A demo version is also available for free which restricts all displayed arbs to a profit of 0.5% or less.
Get Arbseek here
The following program offer lower quality compared to Oddsandbets, but still providse sufficient options to be successful in arbitrage. ARBALERT Works together with arbsurfer, and is the arb program of the zero risk arbitrage website. Offers you a 5 day trial for free!
Get Arbalert here: http://www.1shoppingcart.com/app/aftrack.asp?afid=588021
BET ARBITRAGE CALCULATOR V1.0 Free arbitrage calculator. You need this in order to fill in the odds arb seekers have come up with and to fill in the stake: it will then tell you how much you should bet at each outcome.
Get Bet Arbitrage v1.0 here
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Section 4: Money investment and Bankroll management As you enter the world of sports arbitrage you enter the world of money: betting, depositing and withdrawing. Your cash is safe with most of the bookmakers, certainly at the bookmakers promoted on www.sportsbettingebook.com/bookmakers (you can here download all the bookmakers you need. There are over 50 bookmakers enlisted on this page). But besides safety and security at bookmakers you also need a safe and secure way to get your money from your (local) bank transferred to the internet. I prefer using known internet banks like Neteller and Moneybookers. These internet banks are like your own bank: you have your own online account, you can deposit and withdraw large amounts of money and it is the safest way of transferring money. What’s more? Almost every bookmaker has Moneybooker and/or Neteller as (one of) their preferred methods of payment. Although cash needs to travel a few days from your bank to these accounts, depositing money into bookmaker accounts is done in a second! Withdrawal costs are low. * Get your Neteller account like this: send an email to
[email protected]. We will then refer you. If you open our e-mail and click on the link that leads to the homepage of Neteller you can open an account. Both you and we will get $10 for free! Neteller is a very secure and safe online bank and has millions of customers worldwide. It is also the most popular and know online bank. Neteller unfortunately does not offer its services to American customers anymore. * Get your Moneybookers account by clicking here! Moneybookers is the most upcoming and a very secure and safe online bank. Moneybookers is growing fast in popularity and is getting even bigger than Neteller.
If you want to begin with arbitrage you will need a significant amount of money to invest. It is hard to determine the minimum you need, but we can give you an indication. In order to reach an acceptable amount of profit you will need to place pretty large bets at every arb opportunity. This is due to the fact that you need to have a bankroll on more than 1 bookmaker website; otherwise arbitrage betting is impossible. Professional arbitrageurs have around €1500-2000 at more than 20/30 bookmakers in their accounts. This makes their total investment capital around €50.000. Do not worry; in general professional arbitrageurs have begun small. And if you do not have (or do not want to invest) €50.000 to invest – which is probably the case – you must do the same.
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We would say, as a matter of beginning, you should have a total investment capital of €2500-5000. €2500 really is the minimum, anything lower than that is not worth the time when you begin. You should start with 4-6 websites so that you put a couple of hundreds euro on each website. When you do this it is unfortunately impossible to take advantage of every, or most profitable arbitrage opportunities. You will have to wait for opportunities that arise with the bookmakers where you have a registered account. Patience is what you need. You can’t make large bets yet with this beginning bankroll, so you can’t make big profits yet. You will always make profits, but don’t expect large numbers to come in the beginning. As you must refill accounts at bookmakers you lost money you will have to transfer money again and again. This pops up waiting time so that you can bet less times a week. This will all become better and better in time. With a bankroll of around €2500 your weekly profit can reach up to €200-300. Because you are already making profits, and also because you are wagering away sign up bonuses you can soon see your bankroll doubled or even tripled after a few weeks. This means that the amounts you can bet will be larger soon too, as you make more accounts at more bookmakers and thus your profits will double/triple too. Although there is no real risk involved in arbitrage if you take a secure and logical approach, (please remind that you control everything, more on that in the coming sections) it is appropriate to begin small. You have to adapt to the sports betting environment, the program, the betting process, the depositing and withdrawing process and to the whole idea of arbitrage (it probably takes some time to persuade yourself that it really does exist and that it is not a dream). Therefore, taking it slow in the beginning is never a wrong start! Please note to find links to all secure bookmakers visit http://www. sportsbettingebook.com/bookmakers/
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Game plan Strategy (an example of a practical arbitrage career evolvement, please note that every beginning career evolves differently)
First stage: A. Minimum starting bankroll: €2500 B. Minimum amount of bookmaker accounts: 7-8 (money on each €300-400) C. This means waiting a certain period of time until arbs come by with the bookmakers you have accounts at, and then placing bets (make sure you get at least 3% profit). You must then withdraw some of your money at the bookmakers you have won money to fill the accounts where you lost. This can take some days before money is withdrawn. This is why in the beginning patience is needed. D. You make up to €150-200 with some dedication every week. Depending on how fast you can withdraw and deposit. You will need to do this a lot because your bankroll is not large enough yet. E. Your estimated weekly spend time will approximately be: 10 hours. F. Estimated costs: money transfer fees, bookmaker fees, $69 (=€50) p/m for the oddsandbets program (as you don’t need more than 5-10 bookmakers yet): total costs are approx. €75 a month. Second stage (after a month): A. Bankroll has grown to an estimated €3000-3500. You will now have more options and possibilities available. B. Minimum amount of bookmaker accounts should increase to 9-10. This will enlarge the chances that arbs arrive at bookmakers where you have registered accounts. And thus you can take advantage of more arbs every week. Make sure you create accounts at bookmakers which offer the most odds (biggest bookmakers). In section 5 you will find a list of most productive arbitrage bookmakers. C. As you still have €300/400 at every site at your disposal, you must not bet too large amounts yet. Withdrawing and depositing can still take some time so your estimated weekly profit will now be €300-400. This is already a nice monthly payroll (€1200-1600 tax free legal money!!) D. Estimated weekly time spend: 10-15 hours E. Estimated costs: money transfer fees, bookmaker fees, $119 (=€86) p/m for the oddsandbets program (the fee increases as the first month new customer offer is gone now): total costs are approx. €170 a month.
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Third stage (after two months): A. Bankroll has been growing to approximately €4500-5000. B. Minimum amount of bookmakers should be around 15-20. C. You earn twice as much because you can now wait with withdrawing twice as long. This means you are able to make more surebets over a longer time span. Betting amounts should still be around €300/400. Keep doing this a few weeks until you have doubled. D. Your total monthly profit will now reach up to €4000 tax free money. This is probably twice or three times as much compared to the average income of your people in your country! E. Estimated weekly time spend: 15-20 hours. F. Estimated costs: money transfer fees, bookmaker fees, $199 (=€144) p/m for the oddsandbets program (as you need to have arbs coming from around 20 bookmakers): total costs are approx. €200 a month. Fourth stage (after three months): A. Bankroll has been growing to approximately €8.000-10.000 B. Minimum amount of bookmakers should be 30. Or you can choose to stay with the 20. C. Bets should still be larger than €300/400 in the case of increasing the amount of bookmaker accounts. When you prefer the current amount of bookmakers you could increase your bets up to €800. If you want quick cash, the second option is the best one. Otherwise, on the long term, I prefer the first option. D. Your total weekly profit now reaches high limits (up to €2500). This means a monthly profit of €10.000 tax free cash. E. Estimated weekly time spend: 25-30 hours. F. Estimated costs: money transfer fees, bookmaker fees, $349 (=€250) p/m for the oddsandbets program (as you need arbs coming from more than 20 bookmakers): total costs are approx. €325 a month. Fifth stage (prospectus after first 16 weeks): A. This will be the last stage and you will stay in this class as long as you want. Your bankroll should be around €18.000-20.000. B. You should have around 35-40 accounts. Your minimum bankroll at each bookmaker is €700-800. This means your total risk free investments can reach €1500 and higher from now on. What is more, you can now possibly take advantage of all arbs since you have that many bookmaker accounts.
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C. You should now strive to reach the top of the maximum betting amounts that bookmakers have set. Do not create more accounts, just increase your bankroll overall and keep everything well balanced. D. Weekly profits can now rise up to €5000-6000 a week! You can make as much money as you want depending on the time you spend on arbitrage betting. You can choose from every arbitrage opportunity. You might want to go only for the 4-10% arb profits and leave the small arbs behind. This means up to €15.000-25.000 a month!! That means, in time you can have an annual salary of >€300.000! E. Estimated weekly time spend: 40+ hours (as much as you like, the more hours spent the more money gained!) F. Estimated costs: money transfer fees, bookmaker fees, $349 (=€250) p/m for the oddsandbets program: total costs are approx. €400 a month.
Keep in mind that, especially in the beginning, your bankroll/profits will not only grow because of the surebets you place, but also because you will get a lot of bonusmoney: sign up bonuses, reload bonuses, loyality bonus. When Surebetting you will wager a lot and thus clear these bonuses fast. This is what bookmakers want: they will give you thousands of euros as free money! This comes on top of your daily profits! And you must have seen: the costs coming from subscriptions, fees and other percentages are just PEANUTS compared to what you earn. Nothing is stopping you from making profits in the arbitrage market!
Again, the strategy path example above is just an EXAMPLE. You really can decide how much money and time you want to invest in arbitrage betting. You can also decide to create accounts at less bookmakers but start betting large numbers faster. You can also decide not to expand to much but to be satisfied with some extra cash every week. It is all up to you, in the world of arbitrage betting you are the ruler. But I hope the above described example clarifies that profits can reach sky high limits! You don’t have to study anything to become a professional full time arbitrageur.
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When you do not have €2500 to start with at your disposal, I advice you to take a look at the website below. There you can get thousands of euros FOR FREE! I am certainly not lying about this.
http://www.yesfreecash.com
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Section 5: The 10 biggest Bookmakers and Bonuses and a list of the most arb-productive Bookmakers I have put together a list here with the 10 biggest bookmakers. These are the bookmakers that score high in one or more of the following categories. They surely produce lot’s of arbs too. (1)sign up and/or loyality bonus (naming both bonuses) (2)security and safety level of the site (low, average, high level) (3)the amount of payment methods (small, average, large amount) (4)worldwide customers welcome (countries from where people are not allowed) (5)odds on all sports (yes/no) (6)minimum deposit (in Euro, UK Pounds and Dollars - 0-200) Bonuses
Security level
Deposit methods amount
Customers disallowed from?
Odds on ‘all’ sports
Minimum Deposit
Unibet
15€ free bet
High
Large
yes
Canbet
High
large
15$/15€ /10₤ 30$/30€ /20₤
High
large
yes
50$/35€ /25₤
High
large
US, Holland, Israel, Cyprus, Philippines, Estonia, Antigua Curacao US, Germany
no
High
large
US
no
Average
average
no
Average
large
Austria, Bahamas, China, Germany, Japan, Korea, Sweden US cust. allowed US
20$/20€ /10₤ 50$/25₤ /35€ 50$/25₤ /35€
no
20$/10₤ /15€
10bet
30₤ free bet, 10% upto 75₤ and 20% upto 250₤ 15% upto 500$ (all players) and 100₤ free bet for UKcustomers None at the moment None at the moment 15-50% (depends upon the amount of your first deposit ) up to 5000$! 25₤ free bet, 100% upto 100₤ sign up bonus 50% upto 25₤
US and Costa Rica US and Australia
Average
average
US
no
Betfair
Free 25₤ bet,
average
average
no
Bwin
None
High
average
US, Hong Kong, Philippines, Japan, China, Thailand US, Holland, Turkey
20$/20€ 10₤ 50$/ 35€/25₤
Bet365
Ladbrokes Mansion BetUS
BetUS accepts US players Totesport
no
yes
10$/ 10€/10₤
Note: to go to bookmaker sites visit http://www.sportsbettingebook.com/bookmakers
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Hunting down Bonuses: As I said, you will not only profit from the arbitrage opportunities directly but indirectly also from thousands of extra bonus dollars you receive from bookmakers. You will get these bonuses easily because you wager big amounts of money if you place surebets. So just take advantage of them while you are playing! Here are some bonuses of the best 10 sports betting sites. At the other sites you even have more bonuses. -Canbet: Very good sign up bonus (up to ₤250!) that promotes long term play. Other than that, this room is just really comfortable for long play. They also have a free ₤30 bet which you get after you have bet through your initial deposit (30$/30€20₤) once. After that, you must bet through your initial free bet amount three times before it is regarded as pure winnings. -Bet365: A ₤100 bet basket that promotes long term play for UK customers. For other customers a very enduring 15% sign up bonus is available. Other than that, this site is just very good and that is all that matters for long term customers; comfort. -Ladbrokes: No bonus -Mansion: No bonus -BetUS: They have the highest sign up bonus, up to 5000$. This is really good if you bet a lot using arbitrage. -Unibet: Deposit €15/$15/₤10, than place a bet of the same amount on anything. Whether you loose or win that bet does not matter: you will get a free 15€/15$/10₤ bet. It is like having a free second chance if you loose and free money if you win. The free bet must be bet through 3 times the amount of that free bet before it is regarded as pure winnings. -Totesport: This room has always great bonuses. Currently amongst them: a free bet of ₤25, and a sign up bonus of 100% up to ₤100. The bonuses are just easy cash. -Betfair: Free bet of ₤25. Works as a second chance: whether you loose your initial ₤25 first deposit bet does not matter. You will get it anyway. If you have deposited through Moneybookers, you will not be eligible for this free bet promotion! -10bet: 50% bonus up to ₤25. Just deposit ₤50 and you will get this money after you place your bets. It thus works the same with a free bet. You will only get your money afterwards. -Bwin: Deposit at least €10. No sign up, reload or loyalty bonuses. They are working on a loyalty bonus scheme. All the (other) bookmakers can also be found at http://www.sportsbettingebook.com/bookmakers/. Of course these bookmakers offer bonuses too. So the hunting does not stop here..
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Most productive Bookmakers* The listed bookmakers above are good for many reasons. They are very secure, safe, trusted and loyal to their customers. You won’t see strange things happen there. Limiting all risks is important for arbitrage bettors, but signing up at bookmakers who produce the most arbs is even more important. That is why we shall now give you a list of bookmakers who produce the most arbs. This does not mean that your first bookmaker accounts should be created at the 5 most productive bookmakers, but it is certainly a very important factor in choosing to do so.
Most productive Bookmakers top 20 1. Betfair 2. Betdaq 3. Pinnacle Sports 4. MatchMyWager 5. BetOnBet 6. TradebetX 7. Bwin 8. Bet365 9. Unibet 10. Stan James 11. Betsafe 12. Interwetten 13. Expekt 14. Astrabet 15. Betoto 16. 10Bet 17. BetGun 18. CentreBet 19. SportingBet 20. BetPci All other bookmakers
Amount of arbs produced monthly 20% 10% 8% 5% 4,5% 4% 3% 2,8% 2,6% 2,5% 2,4% 2,3% 2,3% 2,3% 2,1% 2,0% 1,9% 1,9% 1,9% 1,8% 25%
*Please not that this list is based on arbitrage software statistics from previous months. Their statistics change as bookmakers change, but generally this will be a good guideline for the coming months, and we will of course update this list if big changes take place.
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Section 6: The how’s and why’s of the Arbitrage betting system: a thoroughly explanation If you have read the previous sections you have a solid and general understanding about arbitrage betting. But if you are looking for a more thoroughly explanation you can read this section. It involves arbitrage theory, legality, and FAQs. We will take a deep approach right here. A. Theory Assume the following situation: We consider an event with 2 possible outcomes (e.g. a tennis match - either Federer wins or Henman wins), the idea can be generalized to events with more outcomes, but we use this as an example (by the way: the best and most arbitrage opportunities come from Tennis, second best is Soccer). The 2 bookmakers have different ideas about the chances of winning concerning the above mentioned players. They offer the following fixed-odds betting on the outcomes of the event: Bookmaker 1 Bookmaker2 Outcome 1 1.25
1.43
Outcome 2 3.9
2.85
For an individual bookmaker, the sum of the inverse of all outcomes of an event will always be greater than 1.
As they are in this case: 1.25 − 1 + 3.9 − 1 = 1.056 and 1.43 − 1 + 2.85 − 1 = 1.051 The fraction above 1, is the bookmakers return rate, the amount the bookmaker earns on offering bets at some event. Bookmaker 1 will, in this example, expect to earn 5,6 % on bets on the tennis game. Usually these gaps will be in the order of 8 - 12 %. The idea is to find odds at different bookmakers, where the sum of the inverse of all the outcomes is below 1. This means that the bookmakers disagree about the chances of the outcomes. This discrepancy can be used to obtain a profit. For instance, if you bet on outcome 1 at bookmaker 2 and outcome 2 at bookmaker 1: 1.43 − 1 + 3.9 − 1 = 0.956
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Placing a bet of €100 on outcome 1 with bookmaker 2 and a bet of €100 * 1.43 / 3.9 = 36.67 on outcome 2 at bookmaker 1 will ensure YOU (the better) a profit. In case outcome 1 occurs, you could collect r1 = €100 * 1.43 = €143 from bookmaker 2. In case outcome 2 occurs, you could collect r2 = €36.67 * 3.9 = €143 from bookmaker 1. You would have invested €136.67, but have collected €143, a profit of 6.33$ (4.6 %) no matter what the outcome of the event will be. This counts for 2 odds o1 and o2, where . If you wish to place stake s1 at outcome 1, then you should place s2 = s1 * o1 / o2 at outcome 2, to even out the odds, and receive the same return no matter what the outcome of the event will be. In other words, if you have two outcomes a 2/1 and a 3/1, by covering the 2/1 with $500 and the 3/1 with $333, you are guaranteed to win $1000 at a cost of $833, giving a 16% profit. More often profits exist around the 4% mark or less.
B. Legality “Why would bookmakers, a notably shrewd bunch of gentlemen, present me with the opportunity to remove large amounts of cash from their coffers, without any risk of financial loss to myself?”. It is worth fully explaining the answer to that question, because you will then be absolutely clear why arbitrage opportunities occur, why the bookmakers cannot stop you taking their cash, and what you should do to benefit from the greatest ‘free offers’ ever made. When bookmakers offer prices on an event, they do so, naturally, with the objective to make money, and they attempt to make that money by offering you odds which are slightly less than the real chance of the ‘event’ taking place. In our area, the ‘event’ we are talking about is usually a player or team winning a match. The bookmaker pockets the difference between the ‘real’ price of the player or team winning, and the price that he pays out to his customers. That difference will be his profit. It works like this; suppose we have a tennis match (or snooker, or darts, or anything else that takes your fancy) and the two players are of absolutely 25
equal ability. Neither can be said to have a better chance than the other and, like the spin of a coin, this could go either way. Then the true chance of both players, just like that coin spin, would be ‘even money’. So, if the bookmaker priced both players at ‘even money,’ and he took $50 for one player and $50 for the other, the better who picked the winner would be $50 richer. The backer who had chosen the loser would loose his $50 and the bookmaker would be exactly where he started. The bookmaker would be neither richer nor poorer; he would merely have transferred the cash from the backer of the loser to the backer of the winner, without any profit for himself. This is of course not his aim at all. The bookmaker therefore decides that, to make a profit, he needs to take a cut of the money invested. This means, irrespective of which individual backers wins or looses, the bookmaker will cash in some money. He does this by altering the odds he offers to his customers. He reduces his prices such that backers receive slightly less than the true odds their selection has of winning. In the example of our two tennis players of exactly similar abilities, instead of offering ‘even money’ for each, the bookmaker takes a little something for himself and now offers 10/11 for each of them. When they were even money, you would only have had to stake ten pounds to win another ten pounds – that’s what ‘even money’ means. Now however, since the bookmaker his odds are 10/11, you would have to stake eleven pounds to win that ten. You are now receiving slightly worse than the player’s true odds of winning. But as a Sports Arbitrage Bettor, you are looking for bookmaker odds which you can use. And you absolutely do not need any knowledge of the events you bet on! Sideline Article
How does arbitrage in theory work? Example of a sports arbitrage opportunity The mathematical formula which explains the process is quite simple. One searches between the various bookmakers and obtain the best odds for a particular sporting event. One then divides the total of the
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bet between the possibilities and ensures that the winnings are bigger than the losses. So in an event where there are 2 possible outcomes we recognize that.. Detroit Pistons - 1.85 in Canbet bookmakers L.A. Lakers - 2.50 in BetUS bookmakers This means that if the Detroit Pistons wins our bet will be paid at 1.85 and in the case that the L.A. Lakers wins it will pay at 2.5. In order to find out if our bet will be a sure winner, we divide our total bet which in this case will be €1000 and we have our first equation. X + Y = 1000 1.85 X = Z 2.50 Y = Z Here we have our bet divided in the most optimal way. If Z is greater than €1000, our bet will have a sure profit, which will be Z – 1000. Working out this equation we have the following: X = Z/1.85 Y = Z/2.50 Z/1.85 + Z/2.50 = 1000 4.35/4.625 Z = 1000 Z = 100/0.94 Z = 1063.21 Having resolved the equation we find that the bet will give €63.2 for each €1000 bet. This is a 6.32% profit. We can find out how to spread the bet by resolving the other unknown elements. X = 574.7 Y = 425.3 This means that we should bet €574.7 on the Detroit Pistons at the odds of 1.85 and €425.3 on the L.A. Lakers at the odds of 2.5. In case of three scores, as football has, the mathematical formula has three unknown elements and one more bet to make:
Manchester at Ladbrokes: 2.8 Draw at unibet: 3.3 Blackburn rovers win at unibet 3.5
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Total profit: 5.7%
Luckily for you, Arbwinner and other similar programs do all the calculation and spotting for you so you do not have to worry about this!
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http://www.arbwinner.com/index.php?ACTION=texts.php&end=work
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The question still nagging you might be: “Why do bookmakers provide us with so many opportunities to pick up this free money?” Arbs occur because the men responsible for making the bookmakers their prices, the odds-compilers, have differences of opinion about the merits of the players or teams the bookies are assessing. You will not find a group of bigger egos in any place on the planet than at a meeting of odds compilers. These guys firmly believe that they know more about the particular sports they price up than anyone else, living or dead. For them, it is not just a price they are putting up, it is their marvellous opinion – and in their opinion, they are totally, unmistakably right.3
Their permanent disagreement is our chance to profit. BIG TIME!!
Sideline Article:
Is arbitrage legal? Sports arbitrage betting is completely legal as long as local laws permit gambling. All that sports arbitrage traders are doing is placing bets with different bookmakers whose odds just happen to guarantee a profit overall. There is nothing illegal in that. So for us UK residents, sports arbitrage investing is a legitimate part time (or even full time) source of income! It may be illegal for US residents to place sports bets over the Internet due to the Federal Wire Wager Act 1961. The Act states the following:
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Some material in this section is directly copied from (although the currencies are changed): http://www.sportinginvestor.co.uk/issues/XML/render.asp?PageDetail=-1411331674&Link=-784859346
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Whoever being engaged in the business of betting or wagering knowingly uses a wire communication facility for the transmission in interstate or foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to receive money or credit as a result of bets or wagers, or for information assisting in the placing of bets or wagers, shall be fined under this title or imprisoned not more than two years, or both. Whether or not the Federal Wire Wager Act 1961 applies to online sports betting is the subject of much legal debate. Some bookmakers allow US residents to bet with them, whereas others have chosen to refuse their business. It should be noted that there are a very large number of offshore sports books aimed at US clientele and so this issue is a grey area to say 4 the least!
C. FAQ How many arbitrage situations occur each day? There would be a problem with arbitrage if they occurred only once in a while. This would limit our winnings and oblige us to be sitting at our computer for hours on end in order to chance upon one. However, there are many arbs produced every day generating average profits of 3.5% and in fact many of them produce gains of up to 10%. Every minute arbitrage opportunities arrive. Do the bookmakers try to prevent their losses due to arbitrage searching software such as oddsandbets? The money that can be made by an arbitrajeur is the same or better than any other and at the end of the day half of our bet will be lost to us and won by the bookmaker. At the end of the month we will have lost half the money we have bet. If we would bet €30,000, we will lose €15,000 what we will have been distributing among the various bookmakers. Of course we will also have recuperated this €15,000 plus whatever profit made through the arbs offered by OddsandBets It is important to know that when we win money no-one else looses, not even the bookmakers. We have already explained that the bookmakers work on a % increasing or lowering the odds depending on the bets they are receiving. Our winnings will therefore not mean a loss to them but it is rather money which has made them move their odds (together with the bets they have received). This is why most bookmakers or account managers at bookmakers don’t dislike arbitrage bettors to much, but to be clear, they are not the most beloved ones too!
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http://www.sports-arbitrage.info/
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How much time do I need to invest in this? You will learn in a few days, what hours of the day produce the most arbs. The actual process of betting will not take more than a few minutes. So with 2 or 3 hours of attention at your computer you can take advantage of 4 or 5 arbs with a high enough percentage to have substantial gain. If you wish to invest more time then obviously you will make more money. Is this better than investing in the stock market or in some other banking scheme? When we talk about investments we are talking about putting in money such that we will be certain that we will gain a specific amount of money (interest). On this premise any activity which depends on incontrollable variables in order to make a profit and not loose your initial stake is not an investment. It is a risk. We risk our money in order to gain more. With sports arbitrage we do not risk anything. We play safe in the knowledge, from the offset, how much we will win. There are no variables that actually depend on our money. Only the bankruptcy of the bookmakers could put us at risk, or the almost never occurring strange moods of bookmaker account managers who start closing winning accounts. Remember, these are all situations which are very unlikely to occur. You have a higher chance of being in a car accident as a matter of speaking. How much money do I need to invest? There is very little truth in every answer to this question. It really depends on your approach. As we have mentioned earlier in section 4, if you start out with €3000 you will not make huge profits in the first weeks/months and it is wise to limit the amount of bookmaker accounts to 4-6 in the beginning when you have such a small amount of total cash. Your accounts will be empty soon at bookmakers where you lost half you arbitrage bet. This means you must refill them, and in order to do so you will have to withdraw money from the bookmaker account at which you won the bet and made the profit. Transferring money is the biggest delay factor in the beginning. This problem is less troubling when you have €30.000 at your disposal. But since not everyone has this sum available there is no shame to start out with a small bankroll. There is a learning curve in the arbitrage job too, so it is never stupid to begin with smaller amounts of cash. And remember, you will always make profits ,even if you begin small. Are there many people dedicated to this activity? This activity is most common in countries where the tradition of sports
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betting has existed for many years, such as the UK. With the help of information technology, these arbitrageurs are now able to optimise their time and money and have a job which is much more relaxing and offers them more free time than other traditional occupations. Thousands in the UK, US and Australia and increasingly also in Eastern Europe dedicate their time to arbitrage and make money out of it. But do not worry, 99% of all customers at bookmakers are just gambling. Only a very small minority is an arbitrageur and makes a profit. This is the main reasons why bookmakers do not really fight against arbitrage. They earn too much money to pursue arbitrageurs.5 Now we have two tips for you, to end this section with. Tip 1: keep a notebook! You may also be interested in keeping a file or notebook with all the usernames and passwords. Some free internet programs will remind you of them, however it is better if you have them organised and at hand. We give you the opportunity to work with more than 50 bookmakers (do this through http://www.sportsbettingebook.com/bookmakers/). Be sure that when you are going to invest in an arb you have your accounts open or have access to them and the ability to deposit money in a matter of minutes.
Tip 2: currency converter You may also need a currency converter, because some bookmakers only work in dollars or euros. The tool mentioned below is useful tool in that it will help you to calculate the right amount when you have to bet in a different currency. Visit http://www.oanda.com/convert/classic?lang=en to get the tool immediately.
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FAQs information comes partially from arbwinner.com website
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Section 7: How to apply a zero risk policy whilst arbitrage betting Arbitrage is just as legal and illegal as normal sports betting. But bookmakers are just like casinos: they are used to losing customers and not to winning customers. This is why the bookmakers have their best players well profiled. If bookmakers detect that you are an arbitrage player and play hard, they may cancel your account and refund your money, although such cancellations are very unusual. It almost never happens, but as a professional arbitrage bettor you want to eliminate every possible risk. Remember, policies, laws and terms and conditions don’t state arbitrage trading as illegal but it is the support team and account managers who are able to do weird things (like closing accounts), not the written laws. Again, arbitrage betting is not illegal but you should always rather be an anonymous winner than a very known one. You might want to do the following at all times to prevent weird things from happening:
Tip 1: Don’t place weird betamounts Round off the quantities you are betting. If you bet 343.66€, they will see it as an arb. Bet 345 or 340 €. Our software will help you to calculate better these quantities.
Tip 2: Place bets at professional matches Do not bet large amounts on the Swiss basketball 3rd Division! They will know it is an arb or might at least suspicious to you and this basketball team in the future;
Tip 3: Do not withdraw funds suddenly; leave some money in your account. If you deposit and withdraw a lot (emptying accounts) this can be a sign of arbitrage trading to bookmakers. Although it’s legal, you don’t want to push people in the wrong direction.
Tip 4: Make an average bet sometimes If business goes well, (and it will) bet from time to time small amounts on a sport you are familiar with. Do not worry if you loose €20 on Arsenal vs Man U when you are gaining a profit of 50% per month on your investment;
Tip 5: Be reserved Never talk about http://www.sportsbettingebook.com, this e-book or the oddsandbets software with the bookmaker support/managers. Although this software is legal,(stupid) account personnel might think otherwise.
Staying unknown is not a must, it is an advice. What IS a must is that you are in control of your own betting process and everything in between. We will now guide you to some errors made by arbitrage bettors.
Tip 1: read all terms and conditions on the bookmakers you sign up with Bookmakers don’t only have different odds, they also have slightly different terms and conditions. Most of it is the same at any bookmakers, but there are bookmakers who have slightly different rules of their own. For example, when you have a tennis match that is ended before a ball is hit due to an injury of a player some bookmakers might return your money and thus cancel your bet. Other bookmakers rule in favour of the winner and you are then (thus) gambling. To prevent this, make sure you have accounts at bookmakers where there is an agreement on these subjects. Also try to select bookmakers based on payment options: if you have neteller, make sure all bookmakers have neteller as a payment option! And don’t forget, some bookmaker have rules that nowhere else apply like Betfair that takes 5% commission on profits.
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Tip 2: maximum bet amounts at bookmakers Always be watchful for tricks from bookmakers. Some tend to set maximum bet amounts to limit the advantage of the player. Luckily, in oddsandbets there is an option to calculate your profit even with betting limits. But be sure you always check the potential maximum stake amounts in that you don’t wager more than possible.
Tip 3: place a bet on the lower odd first. Always! Remember to always start with bets with the lower odd, i.e. the one the bookmaker considers as the most probable. In case of malfunctioning that does not allow you to bring your arbitrage to an end, you will at least have placed your bet with the more success probabilities.
Tip 4: Be sure you double/triple check EVERYTHING in the betting process This means watching the betting amounts, the right websites, the betting type (handicaps etc.), the odds etc. You must act fast when taking advantage of an arb, but stupid errors occur when in rush, so be speedy but careful;
Tip 5: Don’t be attracted by unusual high odds Don’t bet on all too high odds (arbs higher than 10%) for it is definitely possible that bookmakers have made mistakes and the bet won’t count. All you have done then is wasting time;
There is one key to never make any stupid mistakes and that key is experience. In time you will see thing much clearer and know how to prevent mistakes.
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CONCLUSION Arbitrage is the best job available on the internet. It is simple, legal, safe and provides a lot more cash than regular jobs. You can even earn more than your boss without working too hard. Soon you will be earning THOUSANDS of EUROS, POUNDS OR DOLLARS every week because you take a smart approach to sports betting. Gambling is not an option for you anymore. Open up your pockets and let that cash come in!
Due to heavy loads of work the dominate sports betting support team has decided not to answer any arbitrage related questions anymore. Only contact
[email protected] involving technical questions, purchasing questions, partnership proposals, advertising proposals and affiliate proposals. All questions regarding bookmaker accounts, Oddsandbets software or internet banking should be addressed to the particular support teams of bookmakers, Oddsandbets and internet banks. Thank you
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Nothing in this document may be copied, or used for illegal purposes without the consent of the author. I am not responsible for any gambling losses, diseases, unsatisfied feelings or whatsoever. You may advertise this document on the website www.dominatesportsbetting.com at all times. Links or parts of copied texts from other sites in the document are only here if the information from that source was better than my own. I believe it is at all times legal to link a site in a document, website or book or copy texts when footnoted. If that is not the case, or if a particular source owner does not allow this they should contact me and I will be happy to remove the info. Never have I intended, with my current knowledge, to do anything illegally, and I wish to be informed by the right person if done anyway.
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END OF DOCUMENT
(e-mail:
[email protected]) © 2007
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