There are hundreds of bookmakers all around the world. Each one of them offers slightly different odds. This distinction creates space for arbitrage opportunities. If you want to become a successful arbitrage trader, you need to have accounts with many bookmakers – the more the better, of course. But on the other hand, you should not just open up some randomly chosen accounts, deposit money and start placing arbitrage bets. Caution is in order.
It is like when you are deciding which bank you want to use, right? You first look at their stability, fees, and what they are offering you. You take a few banks into consideration and compare them, and maybe you read something about them on the Internet, or ask your family and friends to so you can get their opinions.
With bookmakers, before you place arbitrage bets – even before you buy arbitrage software – you should do some research too. Read about bookmakers, check their spread, ask you friends or the Arbitrage Training team for their opinion, and search the Internet for other people’s experiences. Be cautious! If you notice something extraordinary (for example, if you read some bad comments from recent users) reconsider your options. By bad, I mean something like they have not withdrawn for a few weeks.
If you want to be a successful sports arbitrage bettor, you need to have a healthy portfolio of bookmakers. If you deposit money with some scam bookmakers, you might never see it again. So what does our team advise? Read a lot on the Internet, try some forums, read arbitrage betting articles, etc. Being an arbitrage trader is not just about betting – you need to check other things as well. When it comes to some risky fields that you want to explore, use a small budget you are willing to sacrifice. For one person it could be €100 — for others just €10. When you place arbitrages with these new bookies, try to choose odds not higher than 2 (set your own limits); because if this bet wins, your current betting exposure doubles, and €100 easily becomes €200. Now what could happen if you chose odds of around 8?
Try our Arbitrage Training and find out more about the traps, and learn how to skillfully avoid them.