Arb betting is something I recommend you avoid if you are going to be matched betting with Oddsmonkey however if you have been gubbed on one of your bookie accounts you might want to take a few arbs for some easy money. An arb bet is when the odds at the bookies are higher than the odds at the exchange. We can back and lay these events for immediate profit because the odds are in our favour. Bookmakers aren’t fans of this and may stake restrict your account if you do too many but taking the odd one here and there isn’t going to hurt.
How to find arbs
Finding arbs is fairly straight forward if you are a member at Oddsmonkey. You simply load up the oddsmatcher and you will be presented with loads of them. They usually don’t last long so you need to be quick getting your bets on. Bookmakers are monitoring the betting exchanges as well and if they see they are providing too much value they will cut their odds.
As you can see on this screenshot there are a number of arb bets on ‘Key Bid’. A rating of 116.61 means we can make a profit of £16.61 for every £100 staked. That is guaranteed profit. So you can see how quickly you can make a lot of money from placing arb bets.
There is also an opportunity to underlay these bets so that you break even if the horse loses but make much more money if it wins. This means you can have a bet on the horses completely risk free!
Let’s use the first arb on the oddsmatcher as an example:
We need to use the Oddsmonkey Calculator to work out our lay bet
So by entering the odds and a stake of £10 the calculator tells us that we would need to lay £12.03 at Betfair to lock in a profit of £1.42 on every £10 staked. This also takes into account Betfairs commission of 5%. We can also use the calculator in advanced mode to work out an underlay.
Simply by changing to advanced mode the calculator will display an ideal underlay and overlay. In this instance we are interested in the underlay. If we were to lay £10.53 at Betfair we would break even if the horse lost but make £5.40 if the horse won. That would be £54 on a £100 stake. Not bad for a completely risk free bet.
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Why isn’t everyone arbing?
Well not everyone has the means to do arb bets. You need an oddsmatching tool like the one provided by Oddsmonkey and you need to be fast at placing bets. Like I said earlier arbs usually disappear from the bookies really quickly.
Another reason is simply that they don’t know about it. Even some seasoned gamblers are not familiar with the concept of a betting exchange like Betfair. Some people find it difficult to understand that you can lay bets and cover all outcomes by doing so.
Do we recommend arbing?
Yes and no. Matched betting is far more lucrative and far easier to do than arb betting. That is where you should be spending your time. Arbing will eventually get your accounts stake restricted and seriously damage your ability to make money. If the account isn’t restricted in anyway you should be using it for matched betting.
If however a bookmaker has informed you that they won;t be giving you any special offers or free bets anymore you might as well take a few arb bets from them and squeeze out a bit of profit from the account while you can.