Sure Betting Risks Explained
Sure betting is an idea of making profit from the difference in betting odds between bookmakers. Backing all single sporting event outcomes with one bookmaker will result in a loss. However, when backing best betting odds from a choice of bookmakers an eventual profit is possible if the betting odds are right. By doing this, betting on odds so that your winnings are the same no matter what the outcome is, you are arbing and making yourself Risk Free Profit guaranteed.
Arbing, also generally known as ‘sure betting’, involves comparing betting odds from various bookmakers and then seeing whether those selected betting odds can generate a profit or not. If they can all you need to do is place a bet across all outcomes with best odds offered by different bookmakers and wait for the result to claim your profit.
Sounds good, doesn't it? But before you get yourselves involved there are a few elements to think about. To take full advantage you will need to open an account with several bookmakers to ensure you get all the best betting odds offered. Most bookmakers update their betting odds quickly and are consistent; however you can encounter a bookmaker that doesn't update their betting odds as frequently as necessary for surebetting. It is very important to make sure your trusted bookmaker's betting odds are updated rapidly. Another thing to consider is betting limits - some bookmakers will only tolerate placing a bet no higher than a specific amount of money. And this isn't good for surebetting as you generally need to bet larger amount of money since profit from surebetting is typically small. The bettors are recommended to check their bookmaker's minimum & maximum betting limits.
There are risks involved in surebetting. Let's take a look at the most common risks every punter should consider before getting involved:
1. Bookmakers' Rules
Different bookmakers have different rules not even when it comes to minimum and/or maximum bet but also may have slightly different rules when it comes to match outcomes. A good example is Tennis: when a tennis player retires during a match some bookmakers void all bets and return your stake, on the other hand some bookmakers consider this as a regular result and award the opponent as winner. It is highly recommended to be aware of all Terms & Conditions across bookmakers you may place your bet with.
2. Bookmaker Errors
Most bookmakers have got a section in their T&C that states if they make an obvious error in betting odds offered, they can cancel all bets concerned at any time. This is rather important note as surebettors look for betting odds that may be higher than normal. And if we were to place a bet on an event that would later be voided by the bookmaker as one of those obvious errors events, we would leave ourselves with one outcome uncovered and with that take a risk of losing.
3. Slow Betting
You've picked your sporting event, found best betting odds with your favorite bookmakers, placed a bet with your first bookmaker and went to make yourself a cup of coffee before placing bets on other outcomes. Then you can easily lose your bet and money. When placing a bet on all outcomes you need to ensure this is done as quickly as possible. If you linger a little bit, you put yourself at risk - betting odds changing on your other outcome, or a bookmaker taking that betting event down from their betting offer completely.
4. Wrong Bet Selected
As you are in a hurry trying to place a few bets in the shortest time period you can make a mistake easily and put your money on a completely different match or outcome. It after all is betting under a bit of pressure and cool heads are required.
As with anything in life, experience gives you confidence and the know-how. If you are a beginner and surebetting is something you are interested in, make sure you know all about betting first. Not only about points highlighted above though, but get to know all about sports betting in general. There are different betting types where you can have a few betting options under just one market (Over/Under betting is a classic example) and not understanding all this can cause a risk of you losing money. Make sure you know all about betting odds, understand all different betting types and options and most importantly get to know your bookmaker throughout. Bear in mind that some bookmakers don't welcome sure bettors and you may find yourself limited in your betting manners very soon once you are considered to be a sure bettor.
Finally, there are a few more vital points to be aware of. Your stakes may look more natural if you round them off, for instance you place a bet of €56 instead of €56.34. Our sure bet calculator at OddsPortal.com contains the feature that rounds off your stakes. Don't bet maximum amount available for a specific bet, don't withdraw everything at once - it is better to withdraw 50-60% first and leave the rest in your account to use later on other bets. Always try to behave as a regular player. Bettors look suspicious if they deposit a lot of money, place a bet, withdraw and do the same again later. Some bookmakers can decide to block suspicious bettors by suspending or even closing their accounts. To recognize which bookmakers to use for sure betting you are recommended to visit a number of arbitrage forums where you get an advice.
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