Sports betting is an industry worth billions, and the advent of online gambling has given it more popularity. People bet on just about every sport, not just major ones like basketball, boxing, or American football, and the betting options cater to different punters. Betting rogue lines is one strategy that gamblers use to make money gambling, which includes cashing in on arbitrage opportunities. Arbitrage betting is becoming a favorite among gamblers because it offers a guarantee of consistent wins. However, not a lot of people understand how arbitrage plays work and how they can earn money from them.
The Different Betting Lies
Before looking for ways to win with arbitrage plays, an individual must be knowledgeable about how betting lines work to be able to take advantage of them. A point spread bet is one of the most common, and it involves wagering on the number of points by which one team is expected to win over its opponent. For example, Team A and Team B have a match coming up, and Team B is the stronger one. The sportsbooks will, therefore, come up with a points total, say 8 points to favor this team. It means that a punter who bets on Team B can only cash out if it beats Team A by more than 8 points.
In a moneyline bet, the bettor only has to pick the team that will win between A and B regardless of the point spread. However, a moneyline bet requires an individual to wager more money to get a profit. For instance, if the stake for Team B is -220, it means that a bettor would have to bet $280 for a $100 return.
Another betting line is the point total bet, which refers to the collective number of points that the two teams will accumulate at game end. The bettor has to wager if the score will be below or over the point total. Sportsbooks have oddsmakers who are responsible for coming up with the betting lines for different sporting events.
Understanding Arbitrage Betting
Arbitrage is used in the financial markets to refer to the practice of capitalizing on price imbalances of the market to get risk-free profits. In sports betting, it is the tactic used to assure bettors of wins. Arbitrage betting works by wagering on all the possible outcomes of a sporting event such that regardless of the results, the bettor is guaranteed to get profits. In most cases, betting odds vary from one bookie to the next, which presents a disparity that bettors can leverage for assured wins regardless of how the event ends.
Take this example that involves a Player A & B and Bookmaker 1 and 2. Bookmaker 1 has 1.5 odds for Player A to win while bookmaker 2 has 1.75. Then, Bookmaker 1 offers odds of 2.5 for Player B to win while Bookmaker 2 has 2. For an arbitrage bet to occur in this instance, the payout in two different outcomes must be equal. Say a person places $100 with Bookmaker B for Player A to win. The payout would be $175 from the 1.75 odd. If the same bettor placed a $70 wager with Bookmaker 1 from Player B to win, then the odds of 2.5 will generate a payout of $175. Both bets bring in a $5 profit because the punter put in $170 (100+70).
If one is to make profits with arbitrage plays betting rogue betting lines, a punter should be capable of comparing odds offered by various sportsbooks to find the most profitable ones. It takes a while for a bettor to learn how to identify arbitrage opportunities and most of them offer small profits but a bettor can make good money with the right odds and wagers.