In online cricket betting arena, ‘arbitrage’ or ‘sure bets’ refer to a means of putting your money on all sides of a sporting event with the right mixture of odds and stakes so that no matter the final outcome of the event, you make a decent profit out of the entire transaction. Here’s more on arbitrage betting.
An arbitrage is also referred to as a sure bet as it guarantees a profit. In order to be able to dabble in this kind of betting, one has to have a decent amount of liquid cash at their disposal – money that they are willing to wager for a long term strategy. In order to succeed with arbitrage betting, one needs to start with a substantial monthly capital in order to make one-fifth of that sum on a monthly basis.
The amount of money involved just to get started is quite a sum and most punters stay away from this space as a result. A vast majority of cricket betting enthusiasts prefer the conventional forms of betting to arbitrages.
Arbitrage betting can be more rewarding than investing in the share market. A share market transaction usually provides an average return of 2.5% a month. However, if one is willing to dabble in arbitrage betting, one can make as much as 25% on one’s total investment every month.
The fact that one can make so much money from this kind of betting raises the question as to whether it is legal. Arbitrage betting is completely legal. An arber (person who makes an arbitrage) simply exploits the odds on offer with different bookmakers to earn a profit for himself in this kind of betting.
While it is perfectly legal, bookmakers do not stop punters from investing on both sides of the coin. Having said that though, not all bookmakers are fond of punters who deal in arbitrages and they may suspend your account if they want to.
Only 10% of trusted bookmakers are accommodating of punters who deal in arbitrages. This explains the fact that most sportsbooks take a dim view of this kind of betting and consider such transactions as unethical.
Dealing in arbitrages requires a fair bit of skills and one has to be especially good with calculations. While it is easy to see which bookmaker is offering what kind of odds for specific markets online, the key is to place one’s bets at the right moment in order to maximize profits.
For example, if in an Ashes cricket match featuring Australia and England bet365 offers odds of Australia to win at odds of 3.9 and BetFair offers them at 2.85. Meanwhile England are at 1.25 with bet365 and 1.43 with BetFair.
If one were to make a $100 bet on an England victory at Betfair and a bet of $36.67 on Australia with bet365, one stands to make a healthy profit out of the total transaction regardless of the outcome of the game. The key is to make sure that the addition of the inverse of the odds on offer come to less than 1.
Even if someone has a lot of money at their disposal, one should not wager more than 5% of their total capital on a single set of transactions in an arbitrage in order to minimize risks.