Arbitrage Betting Guide and Top Apps for 2023

Arbitrage Betting Guide and Top Apps for 2023

Arbitrage betting is one of the hottest topics in the US betting scene right now. But what exactly is Arbitrage betting, and how do you do it? Read on to find out more about this legal technique. There is a reason arbitrage betting is becoming harder for sports bettors to pull off, and it’s because it’s basically a cheat code.

Arbitrage is a hedging strategy in which a bettor simultaneously places opposing bets on mispriced odds offered at two different bookmakers to take advantage of the difference and generate a profit. This sports betting strategy drastically reduces the risk of losing money but also limits the size of payouts by sacrificing one wager, knowing you’ll have a break-even or profitable bet either way. You may have heard of phrases such as ‘hedge bets’ and this is linked with Arbing.

Arbitration situations arise when a betting site consider an alternative view on the outcomes of a match, which results in them providing different odds to reflect the probabilities. If you find a sports arbitrage scenario where operators disagree on the odds by a big enough difference, you can lock in your profit regardless of how the match finishes. This is where decimal odds and variance comes into play.

This happens because the sportsbook includes an overround in their pricing to give them what is essentially a house edge because it replaces the real odds of each outcome with their own specialized odds. Talking about odds, decimals, probabilities etc can feel complicated, which is why have we have provided a detailed guide on this page.

These arbitrage opportunities are still available but are becoming harder to find and will require more betting accounts than ever before. The good news is that welcome bonuses play into the arbitrage strategy. The even better news is that you don’t have to be a sports betting expert to profit from arbitrage.

Below is everything you need to know about the betting strategy and the top arbitrage betting apps for putting your arbitrage profit strategy into practice.

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Getting the highest odds possible is the only way to guarantee profit using arbitrage. Those new to arbitrage betting should start by utilizing betting apps that favor favorites like FanDuel or have a thing for underdogs like Caesars. Online bookmakers like BetMGM and DraftKings have competitive odds depending on the event.

Equipped with all the bells and whistles bettors have come to expect, including same game parlays, live betting, daily odds boosts, the cash-out early option, and minimal free bet rollover requirements, the mobile betting apps mentioned above are available for both Android and iOS and come with a 4.4/5 star rating or better in their respective app stores.

Make sure to maximize any welcome bonus promotions; they’re the most significant gift bookmakers offer. Stakes using free bet credits aren’t included in the payout. Be sure to read the fine print first. Criteria for how free bets are earned and how they can be used will vary significantly from bookmaker to bookmaker and promo to promo. So lets run down the best apps for arb betting in more detail and learn why you should use them.

#1 PointsBet Sportsbook

Taking wagers in 10 states, PointsBet sportsbook launched in 2019 and has quickly closed the gap on popular betting apps DraftKings and FanDuel, thanks to a clean layout, some of the best odds on favorites, and daily customizable parlay profit boost tokens. Profit boost tokens are provided every 24 hours and are split between a regular three-leg (minimum) parlay and one of the same-game variety. The profit boosts can be activated directly from the bet slip.

A fan of favorites, PointsBet features 18 betting markets, live streaming of select events, and an extensive contest preview. Along with a write-up and win probabilities, the preview section shows the percentage of bets for each side and where the money is leaning.

PointsBet’s welcome bonus offer of two risk-free bets totaling up to $2,000 refunded in free bet credits if they fail to hit is a perfect way to test the strategy. The first bet is a pointsbetting wager, and the other is a fixed-odds bet. New users have 14 days to use any bet credits. Click here to get started.

PointsBet knows the pain of a bad beat, which is why bettors can submit a request to have the money returned on a loss taken due to a significant injury or a bad call by tweeting the Karma Kommittee using #KarmaKommittee. The Kommittee meets every day at 7 a.m. to review submissions.

#2 FanDuel Sportsbook

Available in 16 states, double that amount if you count daily fantasy sports operations, FanDuel sportsbook is a mobile betting app leader for many reasons. Along with setting the standard for combining individual wagers from a single contest into a same game parlay, FanDuel features 17 betting markets, an intuitive interface, and strong odds on favorites.

FanDuel is having success converting its massive DFS user base into sports bettors by offering various entertaining promo opportunities, including risk-free bets, bet insurance, and odds boosts. With most sportsbook apps now offering same game parlays, you may be able to expand arbitrage to multiple wagers.

FanDuel offers a welcome bonus risk-free first bet up to $1,000 refunded in free bet credits to welcome new users. A minimum $10 deposit is required. Bet credits will be sent out within 72 hours of a failed first wager and don’t need to be used in one lump sum. To sign up with FanDuel, click here.

#3 Caesars Sportsbook

Since it acquired international sports betting company William Hill in 2021, Caesars sportsbook has catapulted itself onto the short list of top online sports betting sites for arbitrage bettors by consistently offering the best odds on one side, usually the underdog.

With a layout designed for mobile, Caesars is available in 15 states and features 19 betting markets, frequent profit boost promos, and a favorites section, which comes in handy when attempting to place bets on two bookmakers simultaneously.

Caesars is collecting its fair share of accounts by offering a risk-free first bet up to $1,250 refunded in a single free bet credit if the wager settles as a loss. The free bet credit will be applied within 48 hours and must be used within 14 days. Deposit at least $10 and use the Caesars promo code GUSAFULL to claim the bonus along with 1,000 reward points and 1,000 tier points, which can be used for comps on free play, hotel stays, dining, and more at more than 50 locations. To create an account, click here.

#4 BetMGM Sportsbook

In the betting business for 30 years, BetMGM Resorts International has used BetMGM sportsbook to become the largest iGaming operator in the US. Available in 16 states, the BetMGM betting app has the most extensive list of betting markets among the best betting apps at 27 sports and competitive lines because it still sets its odds. Music to an arbitrage bettor’s ears.

BetMGM features a polished layout, improving same game parlay section, and Edit My Bet option. The Edit My Bet feature allows bettors to change in-play wagers. Even if a a BetMGM parlay has settled sections, you can add, swap, or remove selections, and increase stakes. Like Caesars, placed wagers with BetMGM earn reward program points redeemable for discounts, deals, and expedited window service at participating resort and casino properties.

Along with plenty of parlay insurance promo opportunities, BetMGM’s welcome bonus is a risk-free first bet up to $1,000 refunded as a single bet credit, possibly more, depending on the size of your wager.

If your first bet loses and is less than $50, you will receive a single free bet credit back in the denomination equaling the total amount of the qualifying bet. If your initial wager loses and is of an amount greater than $50, you will receive five bet credits back in equal denominations of 20% of the total amount. Any bet credits will be added to your betting account within 24 hours. A minimum deposit of $10 is required. Click here to create a profile, and be sure to use promo code GAMBLEUSA.

#5 DraftKings Sportsbook

Serving 18 states, DraftKings sportsbook is a dominant name in sports betting because it does everything well, including a user-friendly interface, competitive odds, robust game preview section, and more betting markets than most, with 25 sports listed.

The stats section includes prop betting trends which can be adjusted to zoom in or out by groupings like the last five or ten contests, the entire season, head-to-head, and more, depending on the sport. The preview doesn’t do much for arbitrage, but still a helpful tool all sports bettors should know about.

DraftKings does their welcome bonus differently by offering a 20 percent initial deposit match in free bet credits up to $1,000. Bet credits are released at a pace of $1 for every $25 wagered. Bets using free credits must be placed on odds of -300 or longer (i.e., -250, -150, +250). A minimum deposit of $5 is required. You get 90 days to meet the rollover requirements and play through any bet credits. DraftKings does make up for the weak welcome with various odds boosts and bet insurance opportunities.

Depending on when you create an account, the app may offer a more enticing welcome promo for DraftKings arb bettors in the form of bet credits (usually during the start of a new season). Get started with DraftKings by clicking here.

What is Arbitrage or Arbitrage Betting?

Arbitrage is a guaranteed profit strategy that comes from use in financial markets. In sports betting, an arbitrage betting opportunity eliminates risk by wagering on all the outcomes of an event, with the probability of profit with the favorite. A tie will be considered a push, and you’ll get your money back on both wagers unless the draw is part of a three-way moneyline like in soccer.

Leaning towards the implied probabilities of the favorite to clear a small profit, arbitrage occurs when the underdog odds are evenly opposite or better. Bettors can add extra stakes to team two when odds allow and guarantee a profit either way.

Arbitrage Bet Example:

Team 1 (-110)         $100 = 90.91

Team 2 (+120)      $83.33 = $100

Difference              $7.58

How Can You Benefit From Arbitrage Betting?

By eliminating the risk, bankrolls that don’t have much margin for error or sports bettors who have had lousy luck can breathe easy while placing arbitrage bets. The small gains produced by arbitrage opportunities can add up quickly and can be used to increase your bet size over time.

Firstly, to take advantage of Arbing, you must try and search for the right opportunities. Bettors need to keep an eye out for arbitrage bets today and free arb bets.

This is not a straightforward process, especially if you attempt to do this manually. Bettors will need to monitor several sportsbooks to attempt to pick out arbs bets on their own. A better alternative would be to purchase some software that tracks arbing. These arbitrage bet finder programs will notify you when an opportunity arises to make a profit. Additionally, there are arbitrage and hedge bet calculator options available on various betting exchange websites.

Please bear in mind that purchasing or subscribing to these programs can be costly. However, if your strategy involves a lot of arbitrage wagering, then the investment could be worth it.

Are There Sure Bets?

Albeit a break-even or small profit margin strategy, arbitrage betting, in theory, is as close to a sure bet as one can make, which is why most bookmakers are not fans. In practice, waiting for the proper setup requires patience, attention to detail, and timely execution. Adding extra bets, a second bookmaker, and the need for speed increases the chances of error when attempting to pull off arbitrage.

Bets may start coming in on the mispriced odds and change the line before you can get both bets in, forcing you to accept less-than-ideal odds to cover.

Arbitrage Betting Tips & Strategies

Matched betting is arbitrage but on the bookmakers’ bonus bet dime. Playing with house money is an excellent way for beginning bettors to get their feet wet. More experienced bettors may look to increase their wager frequency by finding a p2p betting exchange. All experience levels of bettors should consider arbitrage betting software as it will help to highlight arbitrage opportunities.

Prop bets can be an excellent way to find mispriced odds because betting sites set these lines independently, which means less chance of odds across several bookmakers moving in unison.

Matched Betting

Matched betting is an arbitrage strategy but takes advantage of different betting companies’ risk-free welcome bonuses, bet insurance, odds boosts, and other promos to back one of the sides. This strategy is best used with two bookmakers that offer low to no rollover requirements, as it will be easier to withdraw funds after any arbitrage bet attempts.

Arbitrage Betting Software

There is arbitrage betting software that will do the heavy lifting and identify arbitrage opportunities when they present themselves and notify you. Your projected profit will need to outpace subscription fees to justify paying for the service. Depending on the program, you may be able to get a free trial. With odds routinely changing, timing can make all the difference.

Arbitrage Betting Example
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