Here is a good video explaining exactly how arbitrage works.

The video will appeal to US, European and UK watchers because it first begins by explaining the different ways of expressing the same prices on offer:

2/1
3.00
+200  all mean the same!

Basically, arbitrage betting makes a profit by exploiting differences between bookmakers' prices for the same event.


Sports Arbitrage Guide 04 - The Calculations

At all times I try keep the forum rules in mind when reading posts.

If moderators ignore the rules and moderate without referring to them, then what's the point of having any rules at all?

And how long would the forum last  without rules, and without people prepared to donate their time (goodwill and energy) to help run the forum as moderators?


The sensible thing to do is to inform Victor of your opinion.

Then he can decide what to do if he shares it.




Meanwhile, for a cooling-off period, the thread is locked until Bayes returns.

Gizmotron: "I was kind of hoping that at least all the moderators were past the beginner level."


One might ask if you practise being offensive, or if it just comes naturally.

Take heed: Keep up this sort of behaviour and you will outstay your welcome.

Aaaaaaahhhh...at last -- a Voice of Reason!

Well put, AMK! 

Your comments put this whole debate in the proper perspective.

Hopefully the main protagonists will take note and behave accordingly.

Your calculations were correct.

Good try, but is it arbitrage? I've started a separate thread defining arbitrage, and for others to contribute ideas there.

Once you're read it you can answer the question yourself.


----------------------------

Dutch Book betting is where you can back , say, two horses and whichever wins delivers your nominated profit AND gives you both bets back.

And that seems to be what you are trying to do.

The calculations are fairly complex but software can do it quickly and easily.

Mr Google will show you all sorts of dutch book software 'out there' -- some is free; some is not.

I have to say, though, that the prices you quoted are rather low, and some dutching software won't work properly as a consequence.


Legally FREE and accurate dutching software is here:   http://www.horseracingsoftware.net/

When you enter your above figures you end up with -6.

Always best to use prices over 2.00 for dutching.

Arbitrage betting, in its simplest definition, is the placement of bets with multiple bookmakers at the same time.
As every bookmaker offers different betting odds for each player or sporting tournament, a punter can increase his chances of wining.

This is done through a picking of odds for one team at one bookmaker and its competitor at the other with different winning odds.

The punter will be able to win some profits as at least one team will win that match. Ideally, the odds should not have a vast difference as that can make the betting quite dangerous for an average punter; on the contrary, the betting odds should be closer to each other to help in gaining some profits.
Arbitrage betting, as compared to ordinary betting, contains high risk as placing multiple bets at different odds might result in serious financial consequences.

Additionally, a punter needs to invest extra money as placing multiple bets require money to be wagered on each betting option.

This makes arbitrage betting a difficult game that can only be understood by experienced punters with loads of money.
A novice punter, on the other hand, might lose out his entire betting money by dabbling into this trade; ordinary sports betting is more than enough for him until he learns some lessons of the trade.
[Source:  http://www.arbitragebetting.com.au/  ]

Moderator's Comment

Gizmotron stated:  "This thread has a legitimate right to exist."

It does indeed...for as long as commentators play the issues and not have a go at the person posting.

Once or twice it's been a bit borderline.

And just remember -- nobody HAS to post in this thread. And nobody HAS to read this thread.

So those that don't like the debate can simply ignore it.

As to the ones left -- play nicely, folks.

Looks good! 

And if you lose to a draw, then you could recover that over the next couple of games by increasing the 10e base bet.

Gizmotron wrote:   "Lies are the mainstay of this forum."

Your evidence?  Kindly provide objective substantiation  -- divorced from your subjective opinions.

Quote from: Gizmotron on December 29, 2012, 08:57:22 PM


6 - 37 = 31

I'm struggling with that because I'm basically useless.

To me the answer is -31 (a negative number)

Quote from: topcat888 on December 29, 2012, 08:04:10 AM
Just trying to get that done now as well esoit, see pm...

Good onya -- thanks for that! 

Topcat888:  could you also add it to the RX Home Page as one of the recommended forums?

Maybe a few carefully selected, two-way affiliations?

In that way you get publicity from their user-bases as well.



And before anyone jumps up-and-down I can only stress carefully selected.

I'm NOT suggesting carte blanche affiliations with every scam, casino or bookmaker under the sun!!

Subby

You'd need to check that with the bookie.

They all have their own little funny ways! 

A couple of ways to use this set of tables:

http://www.punterslounge.com/tipster-competition/tipsters/league/all/2012/


1   Find the top 2 tipsters for a sport and bet BOTH their selections for the win using a dutch book.

2   Lay the selections from some of the worst tipsters, but check the odds before you do to take your liability into account!

High liability has killed many a punters' bank and wiped out their profits over several events in one fell swoop!!