Sports arbitrage betting is called surebetting for a reason. Compared to regular gambling, it is certainly a safe way to bet. But it’s only risk free when it’s done properly. In this article we will explain the most common risks in sports arbitrage, and how to avoid them or mitigate the pitfalls.
Some bookmakers are faster than others at changing odds and you may end up getting caught in an ‘odds trap’ where you have placed the bet on bookmaker 1 but the odds have changed at bookmaker 2 leaving you in an unwanted situation with an uncovered bet. How to avoid or mitigate this risk and the other risks listed below, is covered in the free e-book. Make sure you download and read it.
Different bookmaker rules
Bookmakers sometime have different rules for how to handle the outcome in scenarios such as an incomplete game in tennis, over time in ice hockey, etc. This is why it’s important to double check that the rules are the same on all bookmakers. RebelBetting only shows arbs between bookmakers that have the same rules, but since bookmakers change rules from time to time it’s important that you still double check that the rules are the same before you bet.
A bookmaker can cancel a bet claiming it was a palpable error. This can occur when the bookmaker have made an obvious mistake, for instance reversing the odds. The bookmaker has the right to cancel your bet at any time, before, during or after completion of the match, however, bet cancellation is not very common.
An individual mistake is, for instance, betting one side on half time and the other side on full time, betting on the wrong team, not having enough funds on one bookmaker to complete the bet, placing your bet at wrong odds etcetera.
If you have placed your first bet and then take too long to place the second bet, you may be too late to get the correct odds. However, the risk of dawdling is low when using RebelBetting. When you bet on an arbitrage, RebelBetting automatically logs you into your bookmaker accounts, and many times finds the correct match and highlights the odds. All you have to do is verify the information and place the wager.
Some bookmakers will limit you sooner or later if you use your betting account solely for arbitrage purposes. There is no general rule here, people get limited differently fast by the same bookmakers. Usually, the limitation will occur as a restriction of how much you can bet, but some bookmakers also restrict you by lowering your odds.
Errors can occur in every software. We strive very hard to present accurate information in RebelBetting, but sometimes different matches show up in the same arb, for instance, the reserve team and the A-team. This happens because of the bookmakers inconsistent naming of teams and events. To avoid betting on wrong arbs double check that the teams are playing in the same tournament. It only takes a couple of extra seconds and it’s time well spent.