Betting arbitrage

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%. [2] The practice is usually detected quickly by bookmakers, who typically hold an unfavorable view of it, [3] and in the past this could result in half of an arbitrage bet being canceled, or even the closure of the bettor's account. [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”. Journal of Prediction Markets . 1. 9 : 1–14. References [ edit ] ^ Cortis, Dominic betting arbitrage (2015). Müsabaka Aslan’ın 2-1 üstünlüğü ile betting sona erdi.