From this sentence I am starting the series of post about book-makers’ secrets. Stay tuned and visit my blog regularly ;-).
Everyone who has ever even once bet at the book-maker’s office has heard the word arbitrage or “holes”. And everyone, I think know that Arbitrage is the only one strategy where you can not lose.
Of course, to bring this strategy to life you have to work hard, because you need to bet at a lot of offices and to be able to analyze the events well.
How to Use Sport Betting Strategy: Arbitrage
The classical arbitrage (we’ll name this the arbitrage, not to write the “hole” or risk-free bet) – is the bet on one event, but on all the results of this event. So it means that if it’s a total we bet both: under and over; if it’s a tennis match – we bet both: the winning of the first and second players etc.
But where is the lottery here? And the sense of the lottery is: you bet at different offices taking into the account the difference between the coefficients. So Arbitrage work because different offices value the chances to win of the teams in different ways. Of course, the arbitrage exists not in every match, but usually you can find it.
You should find Arbitrage next way: if we add the credibility corresponding to the coefficients, that are after betting on all the results of the event (for example, the winning 1, the draw game, the winning 2 or the winning 1 and X2), we’ll find that this sum is always bigger than 1, let’s pretend it’s bigger on 10%. And this is the book-maker’s profit, which he mortgages as the coefficients.
But because of the big number of the book-makers, and the difference of their coefficients, sometimes the difference is well seen, after taking the one result of the event as an example at one book-maker’s, the second – at second and the third – at third, you can notice that the sum of the credibility for them ….
So this is the arbitrage: after betting on each of the results, we’ll be the winner even not depending on the match’s result.
The credibility corresponding to the European type (it means written in the form of the decimal fraction) is only equal to the size, which is opposite to this coefficient, it means p=1/C.
Let’s pretend that at the office A the coefficient on the winning 1 is equal to the 2.70, at the office B on the draw game – 4.00, and at the office C the coefficient on the winning 2 is 2.90 , then the sum of the credibility will be 0.964, and this means, that after you bet at the office A on the winning 1, at the office B on the raw game and at the office C on the winning 2, we, after taken the lottery, would see that the lottery is bigger than the sum of the stakes.