Arbitrages work best for those who have major US sportsbooks available, such as FanDuel, DraftKings, BetMGM, etc.
Don’t have those books available to you?
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How Arbitrages Work Arbitrage betting is almost too good to be true. This may sound a bit crazy to you or unrealistic, so below we wrote out how it works for you to understand.
Arbitrage betting is when you can take two opposite outcomes, and lock in a higher potential ROI. See below for an example (this example uses American odds, to see in decimal/fractional please use our conversion tool ):
Example:
Bet $100 on Team A to win at +105 via DraftKings.
Bet $100 on Team B to win at +109 via FanDuel.
If Team A wins, we win $105 profit on DraftKings, and lose $100 on Fanduel ($5 Profit)
If Team B wins, we win $109 profit on Fanduel, and lose $100 on DraftKings ($9 Profit)
As you can see, a low-risk profit either way in this situation. Now to be clear, this is a very basic example for you. Usually arbitrages come from small market bets, meaning a player prop, or an alternate spread, or something along these lines.
Essentially, an arbitrage is when two (or more) casinos disagree, and put a vastly different price on potential outcomes of an event.
Why Do Arbitrages Exist? Casinos can’t mess up that much, right? After all, these are billion dollar companies… right?
Well, we are here to tell you that they do mess up… a lot. Here is why:
You see, (almost) every casino sets their sports betting odds independently. What this means, is that Casinos don’t talk to each other when setting their sports betting lines. So if one Casino sets a team at -105 to win (Bet $105 to win $100), another may set the same team at -110 (Bet $110 to win $100). For those of you that currently bet often, you probably have seen this many times. After all, casinos do compete with each other. They want the best prices for their odds, which can lead to more people placing bets.
Now, let’s consider how many casinos there are, or even just the major ones. Theres 20+ you could probably sign up for right now depending on where you live. Just about every one of these casinos sets those lines on their own. Meaning one may have -105, one may have -102, one may have -112, etc. Where this gets even crazier, is when you factor in how many different things you can bet on in just one game. There’s over/unders, player hits, player home runs, player RBIs, etc. On Bovada, they listed that 185 different bets that can bet made on just this one game alone!
Bovada sets all of these lines independently, and so does just about every casino. Meaning that just for this one game in the image above, there are 100+ different lines for casinos to disagree on!
This is just for one game! Think about how many games there are every day. There are bound to be errors somewhere. It’s just a matter of finding them faster than the casinos do.
How Can I Find Arbitrages? When errors do occur in the market, they are usually fixed within 5 minutes by casinos. After all, they don’t want to give away money to their users.
So finding these errors will be nearly impossible on your own. So naturally, we built a tool that finds them for you. In our group, all clients get access to this tool.
For more on this topic, check out our Arbitrage Calculator .
Our arbitrage bot updates every 20 seconds or so, and displays real, live arbitrage opportunities.
What’s even crazier than arbitrages though, is that these aren’t even the most profitable bets you can make. When an arbitrage opportunity happens, it usually just means that one casino messed up really badly, and the other… not so much.
So, theoretically and mathematically, if we only bet on the casino that messed up, we actually should make a greater return in the long run.
Luckily for you, we built a tool for that too. Our EV Bot is included in your Elitepickz membership as well!
