What is Arbitrage Betting?
Arbitrage betting (also called "arbing" or "sure betting") exploits odds differences between sportsbooks to guarantee a profit regardless of the outcome. When the combined implied probability of all outcomes is below 100%, an arbitrage opportunity exists.
Arbitrage Profit % = (1 - (1/Odds1 + 1/Odds2)) × 100
If result > 0%, arbitrage opportunity exists
Example Arbitrage
Book A: Team X to win at +150 (implied 40%)
Book B: Team Y to win at +140 (implied 41.7%)
Combined: 40% + 41.7% = 81.7%
Arbitrage profit: ~22% guaranteed return
How to Hedge a Bet
Hedging involves placing a bet on the opposite outcome of an existing wager to guarantee profit or minimize potential losses. It's commonly used for futures bets and parlays.
When to Hedge
- Your futures bet is close to winning (e.g., Super Bowl futures)
- Your parlay is down to the final leg
- New information changes your confidence level
- The hedge itself offers positive expected value
Pro Tip: Not every winning position needs to be hedged. If you have edge on the original bet, letting it ride may be the +EV play. Use our hedge calculator to see the math before deciding.
Free Bet Conversion
Free bets and bonus bets can be converted to guaranteed cash using hedging. Since you don't get the stake back on free bets, you bet the free bet on a big underdog and hedge on the favorite at another book.
Typical conversion rate: 70-80% of free bet value
A $100 free bet can typically be converted to $70-$80 guaranteed cash
Frequently Asked Questions
Is arbitrage betting legal?
Yes, arbitrage betting is completely legal. However, sportsbooks may limit or close accounts of suspected arbers. To stay under the radar: vary your bet sizes, don't always max bet, round to normal amounts, and spread action across many books.
How much can you make from arbitrage betting?
Typical arb opportunities offer 1-5% guaranteed returns. With enough bankroll and accounts, some arbers make $1,000-$5,000+ per month. The limiting factors are available bankroll, number of sportsbook accounts, and time spent finding opportunities.
Should I always hedge my futures bets?
Not necessarily. If you found value in the original bet, the mathematically optimal play might be to let it ride. Hedging guarantees a smaller profit but eliminates variance. Consider your risk tolerance and whether locking in profit affects your overall bankroll strategy.