Betting arbitrage

Unsourced material may be challenged and removed. Find sources: ”Arbitrage betting” – news · newspapers · books · scholar · JSTOR ( May 2014 ) ( Learn how and when to remove this template message ) Betting arbitrage (”sure bets”, sports arbitrage) is an example of arbitrage arising on betting markets due to either bookmakers' differing opinions on event outcomes or errors. When conditions allow, by placing one bet per each outcome with different betting companies, the bettor can make a profit regardless of the outcome. Mathematically, arbitrage occurs when there are a set of odds, which represent all mutually exclusive outcomes that cover all state space possibilities (i.e. all outcomes) of an event, whose implied probabilities add up to less than 1. [1] Background [ edit ] Arbitrage betting involves relatively large sums of money, given that 98% of arbitrage opportunities return less than 1.2%. Mathematically, arbitrage betting arbitrage occurs when there are a set of odds, which represent all mutually exclusive outcomes that cover all state space possibilities (i.e. [3] See also [ edit ] Advantage gambling Dutch book Mathematics of bookmaking Sports betting. References [ edit ] ^ Cortis, Dominic (2015). ”Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds”. All casino sites reserve the right to run betting identity checks on you and to ask you to cooperate.