Arbitrage opportunities exist when there are discrepancies in odds offered by different or two or more separate bookmakers or a betting exchange. These discrepancies can occur due to a number of factors, such as different betting markets, varying betting limits, or simply human error. In order to identify arbitrage opportunities, bettors need to compare the odds offered by as many bookmakers as possible. This can be done manually, or by using software betting tools, like RebelBetting, that are able to scan multiple bookmakers at once.
In addition to traditional sports betting arbitrage, like waging on the all possible outcomes of football or tennis matches, there are also arbitrage opportunities to be found in financial markets, where bettors can place bets on both possible outcomes of events such as stock market fluctuations or political elections.