What is Arbitrage Betting?
Arbitrage betting is a technique used by experienced sports gamblers to gain an advantage over the bookmakers. It is a strategy that exploits price differences in markets to create a guaranteed profit regardless of the outcome of the event. It involves placing simultaneous bets on all possible outcomes of a certain event.
For example, a gambler might find that bookmaker A is offering a price of 3.00 (2/1) for team A to win a football match and bookmaker B is offering a price of 2.50 (3/2) for the same team to win the same match. The gambler would place a bet on team A to win with bookmaker A and a bet on team A not to win with bookmaker B. No matter the outcome of the match, the gambler will make a profit.
The key to successful arbitrage betting is to have access to a range of different bookmakers and to be able to compare the odds they offer on a given event. This process is known as ‘line shopping’, and it is essential to identify potential arbitrage opportunities.
In some cases, arbitrage opportunities may be found within a single bookmaker. For example, if bookmaker A offers a price of 2.00 (1/1) for team A to win a match and a price of 1.90 (9/10) for team A not to win, the gambler can place bets on both outcomes and guarantee a profit regardless of the outcome of the match.
Arbitrage betting requires a good knowledge of the sports betting markets and the ability to assess risk. It is important to bear in mind that arbitrage opportunities are not always available. Prices can change quickly, so it is essential to act quickly when opportunities arise.
Arbitrage betting is not suitable for everyone, and it is important to remember that the bookmakers may limit the size of bets placed on arbitrage opportunities. This means that arbitrage betting is most suitable for people with a large bankroll.
It is possible to make a profit from arbitrage betting, but it requires dedication, skill and knowledge of the sports betting markets. It is important to remember that it is not a guaranteed way to make money, as the bookmakers can change the odds at any time.
What Markets are Suitable for Arbitrage Betting?
Arbitrage betting is a strategy used by experienced bettors to maximize their returns on investments by exploiting different odds and pricing discrepancies in the betting market. This involves betting on both sides of a sporting event or any other event where odds are available, thus guaranteeing a return regardless of the outcome. The key to successful arbitrage betting is to identify markets that are suitable for it.
Sports betting is the most popular market for arbitrage betting. The margin of error when it comes to calculating odds is relatively small in sports betting, which makes it easier to identify and exploit discrepancies. For instance, if one bookmaker is offering 2.2 odds on a team to win a match, while the other is offering 1.9 odds, then a bettor can make a guaranteed return by betting on both outcomes. The bettor would need to lay out more money on the higher odds to guarantee a return, but the bettor would still make a guaranteed profit regardless of the outcome.
Another market suitable for arbitrage betting is horse racing. Unlike sports betting, where the odds are determined by the bookmakers, the odds in horse racing are determined by the potential payouts of the race. This makes it easier to identify discrepancies between the odds of different bookmakers since they are all based on the same data. For instance, if one bookmaker is offering 4.5 odds on a horse to win, while the other is offering 3.5 odds, then a bettor can make a guaranteed return by betting on both outcomes.
Financial markets are also suitable for arbitrage betting. In this case, the bettor is looking to exploit discrepancies between different financial instruments, such as stocks, bonds, commodities, and currency pairs. For instance, if a stock is trading for $10 on one exchange, but for $9.50 on another, then a bettor can make a guaranteed return by buying the stock from the cheaper exchange and selling it on the more expensive exchange. Similarly, if the price of a currency pair is 1.20 USD/EUR on one exchange and 1.22 USD/EUR on another, then a bettor can make a guaranteed return by buying the currency pair from the cheaper exchange and selling it on the more expensive exchange.
Lastly, cryptocurrency markets are also suitable for arbitrage betting. This is because the price of cryptocurrencies can be highly volatile, making it easier to spot discrepancies between different exchanges. For instance, if one exchange is offering a cryptocurrency for $2,000, while another is offering it for $2,500, then a bettor can make a guaranteed return by buying the cryptocurrency from the cheaper exchange and selling it on the more expensive exchange.
In conclusion, there are many markets that are suitable for arbitrage betting. Sports betting, horse racing, financial markets, and cryptocurrency markets all offer opportunities to exploit price discrepancies and make a guaranteed return. Experienced bettors must be vigilant in identifying these discrepancies and exploiting them to maximize their returns.
How Does Arbitrage Betting Work?
Arbitrage betting is a method of exploiting price differences in the betting market to guarantee a profit regardless of the outcome of the event. In this method, a bettor will place bets on all outcomes of an event with different bookmakers, so that no matter what the outcome is, they will always make a profit. For example, let’s say you want to bet on a basketball game between the Chicago Bulls and the Milwaukee Bucks. You find two bookmakers offering different odds on the game. Bookmaker A offers the Bulls at 1.8 and the Bucks at 2.0. Bookmaker B offers the Bulls at 1.9 and the Bucks at 1.95. In this case, you would place a bet of $100 on the Bulls with Bookmaker A and a bet of $105 on the Bucks with Bookmaker B. No matter what the outcome of the game is, you will have secured a profit of $5.
Another example of arbitrage betting is when a bettor will use different betting exchanges to exploit the difference between the back prices and the lay prices. In this scenario, the bettor will place a back bet at a higher price with one bookmaker, and then a lay bet at a lower price with another bookmaker. For example, let’s say you want to bet on a soccer match between Manchester United and Liverpool. You find two betting exchanges offering different odds on the game. Exchange A offers the Manchester United at 2.2 and the Liverpool at 3.0. Exchange B offers the Manchester United at 2.3 and the Liverpool at 2.6. In this case, you would place a back bet of $100 on the Manchester United with Exchange A and a lay bet of $90 on the Liverpool with Exchange B. No matter what the outcome of the match is, you will have secured a profit of $10.
Arbitrage betting is a relatively low-risk form of betting and can be a great way for beginner bettors to make money. It is important to note that arbitrage betting does require a certain amount of capital, as the bettor needs to place bets with multiple bookmakers in order to guarantee a profit. It is also important to note that arbitrage opportunities are not always available and can be quite rare. However, with the right resources and knowledge, it is possible to find arbitrage opportunities and make money from betting.
What is the Risk Involved in Arbitrage Betting?
Arbitrage betting is the practice of taking advantage of price differences between different bookmakers, exploiting the differences in odds to make a guaranteed profit no matter the outcome of the event. The risk involved in arbitrage betting includes the potential for a bookmaker to void bets, or an error in the calculation of the odds.
The main risk of arbitrage betting is that the odds can change quickly, and the bettor can be left out of pocket if they’re unable to take advantage of the price difference. This is why it’s important to act quickly when arbitrage betting, to ensure that the odds remain in your favour. Another risk is that some bookmakers will void bets if they feel that the bettor is exploiting the price difference for an unfair advantage. This means the bettors must practice caution and look for opportunities that don’t seem too good to be true.
A good example of the risk in arbitrage betting is the potential for a bookmaker to void a bet. If a bettor bets on Team A to win a game at odds of 2.50, and Team B to lose at odds of 2.00, the bettor will make a guaranteed profit regardless of which team wins. However, if the bookmaker finds out that the bettor is exploiting the odds for an unfair advantage, they could void the bet. In this case, the bettor would not only lose the initial stake, but also the potential profit.
Another risk of arbitrage betting is that the bettor can make a mistake in the calculation of the odds. To make a guaranteed profit, the bettor must ensure that the odds they’re betting on are correct. If they make a mistake and the odds are not in their favour, they can end up losing money.
Finally, there is the risk that the bettor will be unable to take advantage of the price difference. If the odds change quickly and the bettor is unable to act in time, they can end up missing out on the opportunity to make a guaranteed profit.
Overall, the risk involved in arbitrage betting can be minimized by taking the time to research the odds and act quickly when a good opportunity arises. It’s also important to be cautious and look for opportunities that don’t seem too good to be true, as some bookmakers may void bets if they feel the bettor is exploiting the price difference for an unfair advantage. With the right approach, arbitrage betting can be a profitable way to make money.
What are the Benefits of Arbitrage Betting?
Arbitrage betting is a great way to make money off of sports betting, and it comes with a number of benefits. Put simply, it is a way of taking advantage of the different prices for a given outcome between two or more bookmakers. For instance, if bookmaker A is offering odds of 2.00 for a team to win a game, while bookmaker B is offering odds of 2.10, then an arbitrage bettor can place a bet with both bookmakers and guarantee a profit.
The main benefit of arbitrage betting is that it basically eliminates the risk of losing money. Since you are betting on both sides of a single event, you will be guaranteed a profit, no matter what the outcome. For instance, suppose you bet $100 with bookmaker A at 2.00 odds, and another $110 with bookmaker B at 2.10 odds. If the team wins, you will make a profit of $100 from bookmaker A and $110 from bookmaker B, for a total profit of $210. If the team loses, you will make a loss of $100 from bookmaker A and $110 from bookmaker B, for a total loss of $210. Either way, you will be guaranteed a profit of $10.
Another benefit of arbitrage betting is that it is relatively easy to do. All you need to do is find two or more bookmakers offering different odds on the same event, and then place a bet on both sides. It can also be done quickly, as most bookmakers offer online betting and provide fast payouts.
Another benefit of arbitrage betting is that it is relatively low risk. Since you are betting on both sides of the same event, the risk of losing your entire stake is much lower than if you were betting on just one side. This makes it a great option for beginners who are just starting out in the world of sports betting.
Finally, arbitrage betting can be done with relatively small stakes. Since you are betting on both sides of the event, you can bet a smaller amount on each side, while still guaranteeing a profit. For instance, if bookmaker A is offering odds of 2.00 and bookmaker B is offering odds of 2.10, you can bet $50 with bookmaker A and $55 with bookmaker B and still guarantee a profit of $5.
In conclusion, arbitrage betting is a great way to make money off of sports betting, and it comes with a number of benefits. It eliminates the risk of losing money, it is relatively easy to do, it is low risk, and it can be done with relatively small stakes.
What is the Difference Between Arbitrage Betting and Matched Betting?
Arbitrage betting and matched betting are both popular ways of earning money through sports betting, but they are not the same. Arbitrage betting is the practice of exploiting price differences in sports betting markets to guarantee a profit. Matched betting is the practice of placing bets on different markets in a way that guarantees a profit regardless of the outcome of the event.
The key difference between arbitrage betting and matched betting is the way in which the bettor makes money. Arbitrage betting requires a bettor to place multiple bets on different markets in order to take advantage of price discrepancies. By placing bets on both sides of a market, a bettor can guarantee a profit regardless of which team wins or which outcome occurs. For example, if a bettor is able to find odds of +200 on Team A and -200 on Team B, he can place a bet on both sides of the market and guarantee a profit of $10. The bettor can then withdraw his winnings and repeat the process.
Matched betting, on the other hand, does not require the bettor to find price discrepancies in order to make money. Instead, the bettor takes advantage of free bet offers and bonuses to guarantee a profit. For example, if a bookmaker offers a $50 free bet, the bettor can place a bet on a market that offers low odds, such as 1.05, and then use the free bet to cover his losses. This ensures that the bettor will make a profit regardless of which outcome occurs.
Another difference between arbitrage betting and matched betting is the amount of money that can be made. Arbitrage betting can potentially yield large profits, as the bettor is able to take advantage of price discrepancies in multiple markets. Matched betting, on the other hand, typically yields smaller profits, as the bettor is limited to taking advantage of free bet offers and bonuses.
In conclusion, arbitrage betting and matched betting are both popular ways of making money through sports betting. The key difference between the two is the way in which the bettor makes money. Arbitrage betting requires the bettor to take advantage of price discrepancies in multiple markets, while matched betting requires the bettor to take advantage of free bet offers and bonuses. Both methods can yield lucrative returns, but arbitrage betting typically yields larger profits.
What Software is Available to Assist with Arbitrage Betting?
Arbitrage betting is a strategy used by bettors to exploit the difference in odds offered by various bookmakers for a single event. By doing so, the bettor can guarantee a profit regardless of the outcome of the event. To be successful in arbitrage betting, software is available to assist in comparing the odds and calculating potential profits.
One of the most popular pieces of software for arbitrage betting is BetBurger. This tool scans over 90 bookmakers to find the best odds and calculates potential profits quickly and accurately. It updates the odds every few seconds and allows users to set up alerts for specific events. BetBurger offers a free 7-day trial, after which a subscription costs $45 USD per month.
Another popular option for bettors is RebelBetting. This software scans and compares odds from over 100 bookmakers and calculates the optimal stakes for each bet. RebelBetting also features a built-in browser for placing bets, and an automated betting system that allows users to place bets with the click of a button. A subscription to RebelBetting costs $99 USD per month.
For those looking for a more affordable solution, there is BetOnValue. This software searches and compares odds from over 50 bookmakers, and calculates the potential profits of arbitrage betting opportunities. It also offers a risk calculator, which helps users determine how much they should stake on each bet. BetOnValue has a monthly subscription fee of $30 USD.
Finally, there is the BetFinder tool from Oddsmonkey. This software searches and compares odds from over 80 bookmakers and calculates potential profits. It also offers a range of filters to help users find the best arbitrage opportunities. The BetFinder tool is available with an Oddsmonkey subscription, which costs $17 USD per month.
Overall, there is a wide range of software available to assist with arbitrage betting. All of these tools provide a range of features and benefits to help bettors make the most of their arbitrage opportunities. By taking the time to compare the different options, bettors can find the software that best suits their needs and budget.
Does Arbitrage Betting Require a Large Initial Investment?
No, arbitrage betting does not require a large initial investment. In fact, with only a few hundred dollars, anyone can start to take advantage of the price differences between sportsbooks and potentially generate a steady income.
Arbitrage betting is a form of trading that exploits the price differences between bookmakers. By placing bets on both sides of a trade, the trader can guarantee a profit regardless of the outcome. For example, if the odds of a team winning a match are 2.00 at Sportsbook A and 2.20 at Sportsbook B, a trader can place a bet on the team to win with Sportsbook A, and a bet against the team to win with Sportsbook B. If the team wins, the trader will receive $200 from Sportsbook A and lose $200 to Sportsbook B, for a guaranteed net profit of $20.
The truth is that arbitrage betting does require an initial investment but it does not need to be large. With a bankroll of $500, for example, a trader can make $20 profit from a single arbitrage bet. This means that the trader can turn a $500 bankroll into $520 in just a few minutes. This allows traders to grow their bankroll quickly without risking a large amount of capital.
What’s more, traders can use the profits from arbitrage betting to increase their bankroll and take advantage of higher-risk trades. For example, with $500, a trader can make 4 arbitrage bets to generate a profit of $80. The trader can then use this profit to increase their bankroll to $580 and make bigger bets with higher profits.
Finally, arbitrage trading does not require a lot of technical knowledge. All that is required is the ability to compare odds between bookmakers and to place bets on both sides of a trade. This means that even beginners can start to take advantage of arbitrage betting with a limited amount of capital.
In conclusion, arbitrage betting does not require a large initial investment. With just a few hundred dollars, anyone can start to take advantage of the price differences between bookmakers and potentially generate a steady income. As long as the trader has a basic understanding of arbitrage betting, they can quickly and easily grow their bankroll.
What is the Difference Between Arbitrage Betting and Value Betting?
Arbitrage betting and value betting are two distinct strategies used by bettors to make profits from the sports betting market. Both strategies involve taking advantage of price discrepancies between different betting markets to generate a guaranteed profit. However, there are some key differences between the two approaches, which will be discussed in this article.
At its core, arbitrage betting involves placing bets on all possible outcomes of an event, thus guaranteeing a profit regardless of the outcome. This is done by taking advantage of different pricing models offered by different bookmakers, allowing the bettor to exploit the differences in the odds to make a profit. For example, if one bookmaker offers odds of 2.1 on a team to win a match while another offers odds of 2.0, the bettor can place a bet at each bookmaker, taking advantage of the differences in the odds to guarantee a profit of 0.10 USD for every 1.00 USD wagered.
Value betting, on the other hand, does not guarantee a profit, but rather seeks to identify potential value bets where the odds on offer are higher than the bettor’s estimation of the true probability of the event. The bettor will then place a bet on the event, hoping to make a profit from the discrepancy in the odds and their own assessment of the likelihood of the event occurring. For example, if a bettor believes a team has a 45% chance of winning a match and the odds offered are 2.20, then the bettor can place a bet on the team with the expectation of generating a profit of 0.75 USD for every 1.00 USD wagered.
In summary, the key difference between arbitrage betting and value betting is that arbitrage betting guarantees a profit regardless of the outcome, while value betting seeks to identify potential value bets where the odds are higher than the bettor’s estimation of the true probability of the event. Both strategies can be profitable when used correctly, but they require a good understanding of the sports betting markets and the ability to spot discrepancies in the odds offered. As such, they may not be suitable for beginners.
What is the Difference Between Arbitrage Betting and Scalping?
Arbitrage betting and scalping are two popular strategies used in sports betting that aim to exploit price differences between different bookmakers or betting exchanges. The main difference between the two is that arbitrage betting is a risk-free strategy that capitalizes on the price discrepancies between different bookmakers or exchanges, while scalping is a high-risk, high-reward strategy that capitalizes on the small price movements within a single market.
In arbitrage betting, the bettor makes two or more bets of equal size on different outcomes of the same event. For example, if the odds for a football match are 2.3 for Team A to win and 3.4 for Team B to win, the bettor could back Team A at 2.3 and Team B at 3.4. If either team wins, the bettor will make a guaranteed profit of $10 (2.3 x $10 – 3.4 x $10). The risk of losing is eliminated by taking advantage of the price discrepancies between different bookmakers.
Scalping, on the other hand, is a high-risk, high-reward strategy that involves taking advantage of small price movements within a single market. For example, if the odds for a football match are 2.3 for Team A to win and 3.4 for Team B to win, the scalper might back Team A at 2.3 and wait until the odds shorten to 2.2 before backing Team B at 3.4. If either team wins, the scalper will make a profit of $20 (2.2 x $10 – 3.4 x $10). The risk of this strategy is that the odds may not shorten, leaving the scalper stuck with two losing bets.
In summary, the main difference between arbitrage betting and scalping is that arbitrage betting is a risk-free strategy that capitalizes on the price discrepancies between different bookmakers or exchanges, while scalping is a high-risk, high-reward strategy that capitalizes on the small price movements within a single market. Arbitrage betting is a great strategy for beginners as it guarantees a profit, while scalping is best used by experienced bettors who have a good understanding of the market and know when to make the right move.
How Do I Spot an Arbitrage Betting Opportunity?
Spotting an arbitrage betting opportunity is an essential step for anyone interested in taking advantage of the price differences between bookmakers. Arbitrage betting is the process of placing bets on all possible outcomes of an event at different bookmakers to ensure a guaranteed profit no matter the outcome of the event. It is a form of risk-free betting that requires some skill and research in order to identify and capitalize on opportunities.
One of the most important steps in spotting an arbitrage betting opportunity is to identify the mismatched odds between bookmakers. This requires comparing the odds offered by different bookmakers. For example, if one bookmaker offers odds of 2.50 for a football team to win and another bookmaker offers odds of 2.70 for the same team to win, then an arbitrage betting opportunity exists.
An arbitrage betting opportunity can also be identified by looking at the odds offered for different outcomes of the same event. In this case, a bettor can compare the odds of two different bookmakers and make sure they are not offering the same outcome at the same odds. For example, if one bookmaker offers odds of 2.50 for a football team to win and the other bookmaker offers odds of 3.00 for the same team to draw, then an arbitrage betting opportunity exists.
In addition, arbitrage betting opportunities can be found by looking at the different types of bets available from different bookmakers. For example, if one bookmaker offers a bet on a football team to win at odds of 2.50 and the other bookmaker offers a bet on the same team to win at odds of 3.00, then an arbitrage betting opportunity exists.
Finally, arbitrage betting opportunities can be identified by looking at the different types of markets that are available at different bookmakers. For example, if one bookmaker offers a bet on a football team to win at odds of 2.50 and the other bookmaker offers a bet on the same team to draw at odds of 3.00, then an arbitrage betting opportunity exists.
By following these steps, bettors can identify arbitrage betting opportunities and take advantage of them to make a guaranteed profit. For example, if a bettor placed a bet of $100 on a football team to win at odds of 2.50 with one bookmaker and a bet of $100 on the same team to draw at odds of 3.00 with another bookmaker, then the bettor would be guaranteed to make a profit of $50 no matter the outcome of the event.
In conclusion, arbitrage betting is a form of risk-free betting that requires some skill and research in order to identify and capitalize on opportunities. By comparing the odds offered by different bookmakers, looking at the odds offered for different outcomes of the same event, and looking at the different types of bets and markets available at different bookmakers, bettors can identify arbitrage betting opportunities and take advantage of them to make a guaranteed profit.
What Are Some of the Common Mistakes That New Arbitrage Bettors Make?
New arbitrage bettors are often eager to take advantage of price differences and exploit them for profit. However, there are some common mistakes that these bettors make that can cost them their return. The most common mistake new arbitrage bettors make is failing to track their bets. A successful arbitrage bettor needs to be able to track the performance of their arbitrage bets. Without tracking, it is difficult to identify any potential losses that may have been incurred during the arbitrage.
Another mistake new arbitrage bettors make is failing to research the markets and the prices offered by different bookmakers. Arbitrage bets involve taking advantage of price differences between two different bookmakers, so it is important to research the market and ensure that the prices offered by each bookmaker are significantly different. If the prices are too close, then the bettor may not be able to make a return on their bet.
New arbitrage bettors also often fail to calculate the correct amounts to put on each bookmaker. This is a crucial step in any arbitrage bet, as the bettor needs to ensure that they are putting the same amount of money on each bookmaker in order to guarantee a return. For example, if a bettor places a $100 bet on bookmaker A at odds of 2.0, then they should also place a $100 bet on bookmaker B at odds of 2.5 in order to guarantee a return of $50.
Another mistake often made by new arbitrage bettors is not understanding the concept of arbitrage betting itself. Arbitrage betting is a strategy that involves taking advantage of price differences between different bookmakers, so it is important to understand the concept before getting involved. This includes understanding the different types of arbitrage bets, as well as the mathematics behind them.
Finally, new arbitrage bettors may also fail to understand the risks associated with arbitrage betting. While arbitrage betting can be a great way to make a profit, there are always risks involved, such as the risk of the bookmakers changing their prices or the risk that the bettor may not be able to make a return on their bet. It is important to understand these risks before placing any bets.
Overall, there are several common mistakes that new arbitrage bettors make, such as failing to track their bets, failing to research the markets and prices, failing to calculate the correct amounts to put on each bookmaker, not understanding the concept of arbitrage betting, and not understanding the risks associated with arbitrage betting. By understanding these mistakes and avoiding them, new arbitrage bettors will be in a better position to make a return on their bets.
Frequently Asked Questions
What is arbitrage betting?
Arbitrage betting is a type of betting that takes advantage of price discrepancies between different bookmakers and betting exchanges. It involves placing bets on all possible outcomes of an event, so that regardless of the outcome, the bettor will make a profit. This is done by taking advantage of different odds offered by different bookmakers or betting exchanges.
What markets are suitable for arbitrage betting?
Arbitrage betting is suitable for markets with only two outcomes, such as sports betting. Markets with higher variability, such as stocks, are not suitable for arbitrage betting because it is difficult to find two opposing outcomes with similar odds. However, arbitrage betting can be done in currency markets and other financial markets with low volatility.
What is the risk involved in arbitrage betting?
Arbitrage betting involves taking advantage of different bookmakers’ odds to bet on all outcomes of an event, thus ensuring a profit regardless of the outcome. However, there is risk involved because the odds may change quickly and the difference between the bookmakers’ odds may not be enough to cover the stake and leave a profit. Additionally, if a bookmaker limits or refuses bets due to arbitrage activity, the bettor may not be able to take advantage of the opportunity.
What software is available to assist with arbitrage betting?
Arbitrage betting software is available to increase the efficiency of an arbitrage bettor. These programs can assist with finding arbitrage opportunities, calculating the stakes, and placing the bets. Some of the more popular arbitrage betting software includes Rebelbetting, BetOnValue, and Betslayer.
Does arbitrage betting require a large initial investment?
No, arbitrage betting does not require a large initial investment. It is possible to start arbitrage betting with a smaller amount of capital and then reinvest any profits in order to increase the size of the investment. As such, it is relatively low-risk and can be used to generate profits without needing to risk significant amounts of money.
How do I spot an arbitrage betting opportunity?
Arbitrage betting opportunities exist when the odds for an event are different between bookmakers and betting exchanges. When this happens, it is possible to back all outcomes of the event with different bookmakers and the betting exchanges and guarantee yourself a profit, regardless of the outcome. To spot an arbitrage betting opportunity, look for discrepancies in the odds across different bookmakers and betting exchanges and calculate the profit margin to determine if it is worthwhile.
What are some of the common mistakes that new arbitrage bettors make?
Common mistakes that new arbitrage bettors make include placing too many bets, not researching enough, relying too heavily on automated software, not diversifying their bets, and not understanding the markets they’re betting on. Additionally, they may be unaware of the fees associated with arbitrage betting, or the need to calculate odds accurately.