How To Find Arbitrage Bets: 4 Methods + Tips
There are four main methods to find arbitrage bets. The hardest way of finding these opportunities is by looking for them manually.
All these ways have their benefits and disadvantages.
Besides the main method to spot these odds discrepancies, make sure you read the additional tips and steps to get started.
To find arbitrage bets you need to follow one of the following strategies:
- Finding sure betting opportunities manually
- Using free odds comparison sites
- Using Paid scanner software services
- Developing your software
1. Manual odds comparison
Finding arbitrage bets manually is the most complex and least profitable way to practice this betting strategy (for most players).
It has the advantage of not having to pay for an odds comparison site.
But finding sure bets manually is very time-consuming, you need to have a strong PC (computer), and at least two monitors, and you also need to be very fast-acting.
To find arbs manually, you simply need to open the same event on two different browser tabs.
The other big disadvantage of manual arb finding is that bookmakers are evolving fast in spotting overpriced odds with too much attention on them.
Back in 2010-2015, it was fairly easy to manually find arbs because bookies reacted slower to wrong odds.
The bookmakers have made a lot of mistakes, and you could place bets easily.
Finding sure bets manually by comparing your slow/local bookies with arbitrage-friendly sportsbooks is still a possible way.
The more people are using these services, the more people are betting on the same outcome of a match.
For a beginner arbitrage bettor, this means that the chance of finding a significant odds discrepancy between bookies is getting smaller.
These odds comparison sites can not scan every bookmaker and every market at events.
Knowing this you can have better chances of finding arbitrage opportunities.
How to find arbs manually?
To find these odds differences manually, you need to open the same sports event in two different browser tabs, hopefully on two monitors, and compare betting markets and outcomes on a one-by-one basis.
Find some bookmakers that are available in your country (and they are also trustworthy, based on other bettors’ opinions).
Have a look at arbitrage scanner services, whether they are scanning that bookmaker or not.
Choose a sport that you are familiar with. For beginners, football and tennis betting are the best, to begin with. Open the same sports event at more bookies.
Compare the odds of the same market at every bookmaker you have.
In the beginning, try the markets with only two outcomes: over/under goals, over/under corners, and over/under cards.
If you are familiar with handicap markets, you can have a look at them too.
For manual search, I would suggest paying more attention to tennis markets between your bookmaker and a sharp bookie.
To compare odds, you can find several free calculators by searching Google for a betting arb calculator.
But finding wrong odds and arbitrages in a live event is the only somewhat sustainable way to practice this strategy in long term.
Prediction market arbitrages offer new opportunities. Read more about them in the new guide.
How to find them at live events?
To find arbitrage bets manually on in-play sports events, you need to follow the below-mentioned rules and tips:
Markets that are moving fast are one of the best opportunities for finding arbs, it is better to place the first bet on the wrong odds (they are more likely to drop).
Markets that are good for football arbing: over/ under goals, corner, handicap markets, next corner market, over/under red or yellow cards.
Markets for arbitrage bets on tennis: over/under games in the set and the match too, handicap markets, set winners. It is better to wait for the breaks to place your bets.
This way, you reduce the chance of losing a large amount of money.
That is because if the market is not moving in the right direction on the next points, the odds you have to place are dropping.
Good markets on Basketball could be over/under points, handicaps, and winners in quarters or half.
The same rule applies to tennis if you are not very experienced in betting on basketball.
If you are a beginner in arbing it is good to know that bookmakers are making the most of their mistakes in live events.
Even though you have more possibilities to find odds differences, the odds are moving really fast.
Being successful in manual searching at live events needs a lot of experience.
Live sure betting is possible and easier mostly for more advanced bettors.
So if you have just started your betting journey, you can have more chances with the next method to find sure bets with free software like surebet.com.
2. Using free odds comparison sites
Using a free arb finder as a beginner bettor is the most budget-friendly yet still somewhat profitable method.
These services scan the bookmakers and compare their odds every few minutes for pre-match events and every 2-3 sec for in-play sports events.
In the following article, you can check the list of free arbitrage bet finders I used.
Advantages of using free scanners:
- You can gain experience in sure betting without paying for the service
- Growing your starting capital faster than finding arbs manually (if you are a beginner)
- You can check which bookmaker can be good for your needs
- Complete your bonus requirement faster
Disadvantages of using free scanners:
- The maximum profit is limited to 1% or 3.5% depending on the service you choose
- A delay of approximately 1 minute is applied to each betting opportunity. Users with paid subscriptions have a 1-minute advantage for placing those bets before the odds start dropping
- Too many players use the free plans which results in faster odds-dropping
- You miss out on profits because of delays and the 1% limit
- If you are betting from the UK (with hundreds of bookies) it’s wasting time betting on such low arbs
How do you find sure bets before they disappear?
To find sure bets before they disappear (the odds drop) you need to use software that does not have a significant delay in displaying the odds.
For this matter, BetBurger can seem almost useless when looking for a free sure bet finder. but professionals use their free services to spot potential events and markets.
Based on my experience, the 2-week free trial of RebelBetting (for Europe and the US mainly) and the 1-week trial of OddsJam (USA and Canada) are your best shots for pre-match sure betting.
Both offer their services with a slight limitation on the profit % (in the free trial), allowing you to spot arbitrage bets that are still live.
To find these odds differences before they disappear, you will need to shift from using free tools to paid services.
The amount of guaranteed profit you can make with a premium service is significantly higher.
It can mean a 15x profit difference between a free and paid service.
They offer different odds, and they will help you have a different profit margin for the same amount of time invested.
3. Using paid scanner software services
Using the paid version of these services most of the time has a significant impact on the quality and the number of your sure betting opportunities.
This way, you will not face delays, and there will be no maximum profit % limitation at arbitrage bets.
By opting in for a paid service, you will be able to see new sure bets right when they appear.
The biggest advantage of using a premium plan of these tools is that you can place bets faster than other bettors. This small time frame in your advance allows you to finish your sure bet before the odds start dropping.
4. Developing your software
The hardest method to find and place arbitrage bets is by developing a scanner yourself. This approach also has the highest failure rate.
I’ve seen plenty of motivated programmers in Reddit groups complaining about the pricing of premium services.
Many started developing their own odds screener, but almost every one of them failed to release a somewhat acceptable tool.
What do you need to succeed in coding your own software to find arbs?
- Serious coding skills
- A deep understanding of arbing as a mathematical strategy
- Access to fast API for odds or having a scraper that is fast enough and does not get blocked by bookies
- Hundreds of hours of coding to get a somewhat working tool
Is it worth developing your own software to find sure bets?
In most cases, it is not worth developing your own software. Many developers try building a sure bet finder but fail because of the bad source of odds API.
Cheap odds sources offer an API with slow scanning. These days spotting arbitrage bets is harder because of betting bots with fast scanning.
The most possible way to succeed with self-made software is by having connections with premium odds API providers and investing more in developing a properly working bot.
Actual steps on how to find arbitrage bet opportunities
1. Make a list of your bookies:
To identify the right arbitrage betting opportunities, you need to have a list of your local bookies. I would advise using only the ones with a good reputation.
This betting technique is not welcomed, so the last thing you want to experience is facing a bookie who has a background of banning accounts for no reason.
2. Open accounts at Sharp/Asian bookies:
You need a trustworthy betting site or sports betting agents to cover/hedge your initial bet.
To practice sure betting with success:
- you need at least one side of your bets to be at bookies that won’t limit your maximum stakes,
- and have a fairly high stake limitation in general.
3. Set up the filters:
After opening accounts at the above-mentioned bookies and you have some funds on your accounts, you need to set up your filters with the sure betting software.
To identify the right arbs you need to open the settings and choose only the bookies that you have funds.
For many, it might sound like a piece of obvious advice, but believe me, many people (me included) need to know the very basics when they are beginners.
The step of selecting the required sports, markets, and odds ranges can come when you already know how to find odds differences between your local bookies.
4. Follow the right sure bets:
The right way to find and identify the right sure bets is by looking for opportunities that are available for several seconds or even minutes.
Many of these opportunities disappear in one second to another.
These can happen because of a short delay at one bookie, not because of a real sure betting opportunity.
5. Calculate the stakes:
The next step is calculating the right stake for your bets.
Each relevant arbitrage spotter service has a dedicated calculator for each betting opportunity.
You will notice them as a calculator icon on each betting opportunity pop-up window.
Here you can fix one leg of your bets and include the stake you need at your slow bookmaker. The tool will display the right stakes for the other outcome.
6. Place the sure bets correctly:
Opening the right event and market in time and inserting the right odds is the crucial part of profitable arbitrage betting.
You need to be fast at each step to accomplish it successfully, but you also need to avoid mistakes. Those can cost you the profits of the last few days.
The odds might shift in seconds, and if you are not fast enough, sometimes you need to cover your bets with a loss.
7. Treat mistakes accordingly:
As I already mentioned, sometimes you will make mistakes or run into falling odds.
After many years of sure betting, I know how and where to find arbs that have a very low chance of dropping while I cover each outcome.
But when this happens, I always hedge my bets no matter how big the loss can be.
Taking a guaranteed 10-25% loss is way better than risking one of 100%.
8. Start with Low Stakes
In arbitrage betting, as in most money-making ventures, you need some initial funds to increase your earnings.
If your resources are limited, I recommend starting with matched betting to take advantage of free bets ranging from 5 to 20 euros.
By this stage, you should already have a list of available bonuses, making them easy to find.
With a capital of 100 to 150 euros, I would begin with the smaller bonuses mentioned earlier.
If you have a bankroll of 200 to 300 euros, you can start fulfilling rollover requirements on bonuses between 30 to 50 euros, but be sure to use low stakes.
You don’t want all your money tied up with the bookmaker offering the bonus.
Using low stakes will allow you to complete the requirements without running into trouble.
In my article comparing arbitrage betting to value betting, I discuss the main advantage of positive expected value (EV) betting.
This advantage is that you are not compelled to use large stakes to achieve decent profits.
By keeping your stakes low, you can maintain a healthy betting account for a longer duration.
9. Don’t Avoid Arbs with Small Returns
Your primary objective as a smart bettor is to remain under the radar.
You want to avoid drawing attention from bookmakers.
If you are detected while arbitrage betting, your account may be limited right from the outset.
An even worse scenario occurs when bookmakers limit your stakes before you finish fulfilling the rollover requirements on bonus offers.
It is not a pleasant experience to discover that you must place 300 bets with a maximum stake of just 1 euro.
Placing arbitrage bets close to 0% or slightly under will reduce your chances of getting caught.
Once you have completed the bonus requirements, aiming for higher profitability becomes essential for successful sure betting.