Sports Arbitrage Betting

Anyone involved in sports arbitrage betting? What are your thoughts on it... Seems pretty easy to make $ just done a little reading..I definitely want to pick up a few books before getting involved. Any comments appreciated

 
  1. You'll almost never find lines wide enough to allow for pure arbitrage. The best you'll ever get is a middle opportunity which is profitable but hugely variable. (I.e. you can bet +5 and -4 at -110, so if you hit 5 or 4 you get a free roll, sort of.) And even those are rare and don't scale well.

  2. Sportsbooks are allowed to cancel bets for any reason. So when you do find the +101, +103 arb opportunity and hammer the hell out of it, the +101 guys will adjust their line to -105 and cancel all +101 bets, leaving you with a huge directional position.

 

Everything will help. Sports betting is very similar to option trading since the Intrinsic volatility built into the option is similar to the spread in a sports bet. You will also get a good feel for statistics and not winning everything but focusing on gaining a slight edge.

Peace Out
 

I would list it, but realize it is possible that the illegality of it may turn some people off.

On a much more important note, do you care to share any of your betting ideas? I've bet games for a little while and I'm getting interested in being more technical about it. Just yesterday, I started building a simple pricing model in an effort to understand it better and learn more how to manipulate the lines.

twitter: @CorpFin_Guy
 
Best Response

I would probably avoid Bodog for the time being. The government is out to make an example of Calvin Ayre and have been putting the pressure on them. The Vancouver office just laid off close to their entire office. You'll still get your payouts at this point, but people have been reporting delays close to a month.

I consulted betus for a couple of months and they're a fairly good operation that stays under the radar. Go through the landing pages they have (http://www.betus.com/promo/football/getmore/) to take advantage of the bonuses.

You're going to find sketchiness on most sites due to the US's draconian online gambling laws, but they're mostly pretty decent. There are a ton of review sites out there as well, but keep in mind that they are mostly just giant affiliate portals - they don't care where you go as long as you make a deposit.

 

Interesting idea. I remember years back a firm did something similar with lottery tickets. Would get enough people together and play every combination possible. I believe a lot of places added an extra ball because if this.

I would probably just talk about it as is. If you try and make it sound too non gambling anyone hearing you might think you are scamming people or something. Interesting idea though.

 

Leave it off the resume. I had a similar experience of turning a few hundred into several thousand by ticket scalping. Unfortunately, it'd probably be seen as more of a red flag than anything else. HR might see this as making you a risky candidate. If hiring you doesn't go well, people will come back and blame HR for hiring the guy with gambling on his resume.

A lot of time, people in charge of hiring look for the LEAST risky candidate. Its ok to have non-traditional things on your resume, but only to an extent.

 

There IS a lot of strategy involved in sports betting if you know what you are doing and there are some great arbitrage/hedging opportunities as well, however, gambling is always a touchy thing to put on the resume, and if the traders on here are telling you to leave it off, then I would leave it off.

 

I did it, I made a lot of money. Stick with college sports, and the smaller conferences. The bookies don't have to get the spreads as perfect as the games with heavier action. I also found a system that went went back 10 years for MLB that made money. It's probably just a dumb coincidence. I haven't bet since the Super Bowl, but Ill go back to sports betting when I have time.

 

Guy I work with bets oretty huge size on sports and will be leaving the firm to do it full time. You can definitely make money but its much more about the underlying math than it is about making money on the actual sporting events ie betting on multiple books so you can take advantage of multiple lines, etc. He actually bets with 2 other guys who have already left finance to do this and they live overseas in order to increase the number of books they have access to.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

If a game or match is worth watching, I'll make it more fun by betting on it. We're not talking big sums here, just enough to pay for the beer and chips.

What I bet on: NFL NHL (I always bet against my team; Preds) MLB (only World Series) Soccer games, World Cup, European Championship, etc. College football and basketball UFC and other MMA events

CNBC sucks "This financial crisis is worse than a divorce. I've lost all my money, but the wife is still here." - Client after getting blown up
 
Working9-5:
If a game or match is worth watching, I'll make it more fun by betting on it. We're not talking big sums here, just enough to pay for the beer and chips.

What I bet on: NFL NHL (I always bet against my team; Preds) MLB (only World Series) Soccer games, World Cup, European Championship, etc. College football and basketball UFC and other MMA events

weren't the preds really good this year?

 

i bet on baseball. got drafted straight outta high school in2 the majors but shattered my shoulda in a brawl after a freestyle battle. got booed off stage, i started dissin the crowd. shitted on 'em real good called 'em week bishes so they all mobbed me, hunnits of them rushed me at once beet me 2 pieces, ashamed 2 admit it tbh. with my career in the majors ova b4 it started, i turned 2 music full time as my refuge, mastered the beetz and conquered the mic. started my own label and it all worked out.

but yeah, i bet on MLB. go Cardz. also i collect and trade MLB cardz. its my side hustle, PM 2 buy/trade

 
swagon:
i bet on baseball. got drafted straight outta high school in2 the majors but shattered my shoulda in a brawl after a freestyle battle. got booed off stage, i started dissin the crowd. shitted on 'em real good called 'em week bishes so they all mobbed me, hunnits of them rushed me at once beet me 2 pieces, ashamed 2 admit it tbh. with my career in the majors ova b4 it started, i turned 2 music full time as my refuge, mastered the beetz and conquered the mic. started my own label and it all worked out.

but yeah, i bet on MLB. go Cardz. also i collect and trade MLB cardz. its my side hustle, PM 2 buy/trade

 

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CNBC sucks "This financial crisis is worse than a divorce. I've lost all my money, but the wife is still here." - Client after getting blown up

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