Sport Arbitrage Betting - Using A Betting Exchange
Using A Betting Exchange
Using a betting exchange is an integral part of any sports arbitrage betting strategy. The most popular and well-used betting exchanges are:
Traditionally sports arbitrage betting involves placing bets with different bookmakers to exploit the difference in odds to return a guaranteed profit. The use of a betting exchange does exactly the same thing but holds two distinct advantages over placing your bets with bookmakers alone:
- It will save you time. If you use an exchange, you only have to place 2 bets, to back or lay. You can also save time by reducing the number of bookmaker accounts you are monitoring and have open.
- A betting exchange will place no restriction on successful punters. Therefore by placing half your bets with an exchange, you are reducing your potential exposure to bookmakers that may limit or restrict your account. Using a betting exchange will help prolong the life of your bookmaker accounts.
Of course you will still have to use some bookmakers, but by concentrating on those that are more tolerant to sports arbitrage betting you should be able to make money for significantly longer without fear of restriction.
However the usual rules on managing your bookmaker accounts still apply!
Damage Limitation
Another often-overlooked use of a betting exchange can be in a damage limitation exercise. Picture the following scenario:
You have placed 2 out of 3 bets in straight Match Odds football bet. You have just clicked confirm for the 3rd bet when the size of your stake gets rejected.
You can of course spend some time looking for comparable odds elsewhere and try and save the arbitrage bet. However the best course of action is to accept that this bet got away.
Reduce your exposure and look to cover your bet as soon as possible. Using an exchange here allows you to complete the bet without any worries of the bet being rejected and you will probably find that the odds on offer will be better than that of the bookmaker.
There are huge advantages in using a betting exchange, not just for arbitrage but for general betting too; However, there are 2 key points that the arbitrage bettor must keep in mind.
- Commission. All exchange winnings pay a commission, usually between 2% and 5% depending on your volume of betting. This can wipe out any arbitrage profit but in a damage limitation exercise this should not be a factor.
- Liquidity. You can only take what is available. If you are betting on an obscure event some days in advance, it may well be the case that there is little liquidity available on the exchange and you may have to take the odds from a bookmaker.
Remember if you are organised and quick, changing odds should not be too big a problem. Have two or three browsers open at once and have all your bets entered and lined up ready to just confirm. If it does go wrong in the middle of placing your bet, then look to see what money is available on an exchange. You should only be looking at a small loss in percentage terms. Put it down to experience and move on to the next opportunity.
