A great starting point to start your arbitrage betting journey is promo conversion.
First things first, find all of your books local to your area (DraftKings, Fanduel, Caesars, BetMGM, Underdog Sports, ESPN Bet etc)
After signing up, you want to make sure that you do exactly what is needed for you to take advantage of all existing sign up / welcome bonuses. Some of these sportsbooks offer second chance bets or bonus bets which we will get into how to convert.
After opting into all sign up bonuses / welcome bonuses, now you can start using your “Bet & Get” promos. These offers are usually “Bet $5 get $200”. These offers are great because it does not require you to deposit a significant amount of money in order to receive these bonuses.
- Step 1: Make sure that if you need to opt in to any of these promotions, you do.
- Step 2: An easy way to take advantage of the promos is if Caesars and DraftKings both have $1,000 second chance bets, you make an arbitrage bet from Caesars to DK.
When one of the sides loses, you will then have made some $ from an arbitrage bet + one side will have the $1,000 second chance bet.
From here, you will need to convert the promo by putting the $1,000 second chance bet on a + money side of a bet and on an opposite sportsbook put “X” amount on the other side in an optimal way to con]vert the most out of your second chance bet as you can.
For example here, if you were to have a $100 bonus bet from DraftKings no sweat bet offer. You could easily place the $100 bonus bet on Seton Hall over 87.5 points scored at +475 odds, and place a $400 bet on Seton Hall under 87.5 points scored on Fanduel to lock in a $75 profit regardless of if the bonus bet wins or loses. This is the most simple way to convert your promotional bonus bets into cash.
After converting all of your promotions you should have already have about $2,000 to $5,000 in profit depending what state you’re in!
Now you’re ready to start arbitrage betting.
Arbitrage betting is the process of placing bets on all possible outcomes of a game to guarantee a risk-free profit regardless of who wins or loses. This may sound like it’s “too good to be true”, but it isn’t. It is the only way to guarantee profit before or during a game without any associated risk while sportsbetting.
For example:
On Fanduel, I bet Chris Paddack to have under 4.5 strikeouts total. I bet $187 and will be paid out $404 if he goes under. I will profit $12.
On Caesars, I bet Chris Paddack to have more than 4.5 strikeouts total. I bet $205 to win $404 if he goes under. I will profit $12.
Regardless of the outcome I will walk away with a $12 profit in less than a minute of work.
If you do this 5 times a day that’s an extra $1,800 a month for less than 10 hours spent each month!
Prematch vs Live Arbitrage Betting, what is the difference?
The obvious difference is that prematch is happening before the start of the match, and live is happening while the game is in play.
In prematch arbitrage betting:
• Arbitrage opportunities usually last longer because the markets aren’t as volatile.
• Less total arbitrage opportunities.
• Lower ROI % (2-5%)
In live arbitrage betting:
• Faster moving lines, meaning you have to be quicker to place each bet.
• Hundreds if not thousands of arbitrage opportunities a night.
• Very high ROI % (6-13%)
Overall, you’re able to very easily make $100 prematch arbitrage betting a day and $300 live arbitrage betting a day (on the low end). Over the month that’s $12,000 in profit ($3,000 prematch + $9,000 live). Throughout the year, that’s an extra $144,000.
Arbitrage Betting Routine:
What does my daily routine look like?
I typically fire up OddsJam.com on my third monitor while getting some work done for my job at home.
From here, I usually keep an eye on the monitor throughout the day in case any profitable opportunities come up. Another thing I do is make sure that I have my arbitrage notifications turned on this way I don’t miss any pregame arbs that I could easily hit like the strikeout prop above.
I lock in about $200-$250 a day in pregame arbs, and then focus on the night games where I usually lock in $400-$600 in additional profit.
This makes it very easy to make $15k+ a month with very little time spent. The best part is, that I’m able to make this additional income while working from home, sitting on my couch, or running errands.
You can very easily start with $1,000, and make over $10,000 month in no time.
Remember, more sportsbooks = more arbitrage opportunities. Also, the more capital you have access to initially will also correlate to more profit. You’re able to very easily scale these numbers with different starting bankrolls.
Author – Brian Stevens