In sports betting there is no such thing as a sure bet, right? How can there be? Sporting events, no matter how much it seems like one outcome is more likely than the other, are never certain. How would a sportsbook stay in business if there was such a thing as a sure bet?
While sure bets don’t exist, there is such a thing as arbitrage betting, otherwise known as sure betting. But what is arbitrage betting, how does it work, and is it legal? Let’s take a closer look.
How Does Arbitrage Betting Work?
The core of sports betting is odds, as most are aware. But sometimes odds don’t always accurately reflect the true outcomes of the event. What if it was possible to put a bet on every outcome of an event, and then still manage to make a profit? Or at least to cover all losses and break even.
Although rare, it is sometimes possible to do exactly that. The method relies on exploits found in how odds work, technically allowing for a so-called sure bet to be made. The method is considered by most bettors to be unethical, which is why arbitrage betting isn’t widely seen in the vast majority of betting communities.
Is Arbitrage Betting Illegal?
Arbitrage betting is not technically illegal, since it doesn’t actually break any laws. However online sportsbooks will take action against those that attempt to exploit betting systems. At least a sportsbook will issue a warning against someone attempting to use arbitrage betting. At worst a sportsbook will close the offending party’s account and ban the bettor from the site.
It goes without saying that legal sportsbooks would quickly go out of business if everyone used exploits.
Are There Real Sure Bets?
As said, the backbone of sports betting is that outcomes are never certain. There are, however, many ways that a bettor can make smarter bets. Checking MLB expert picks, for example, will immediately give a better idea of how to bet smarter.
Aside from checking expert opinions, it is also a good idea to do some research. Checking team performance, whether any injuries have been reported, or even checking the weather will give major insights. All of these factors play a big role in how an event will turn out.
Simply put; smart bettors are those that do more than simply throw money down based on a hunch.
Wrapping Up
Arbitrage betting, or sure betting, is a method whereby systems can be exploited to ensure a positive outcome. It is rare that odds allow for this type of betting to be done, but mistakes do still sometimes happen. While technically not illegal, arbitrage betting is greatly damaging to a sportsbook’s profitability. As such, sites will take action against those that use the systems.
Smart bettors can instead increase the chances of making smart bets by simply doing research. Checking tipster opinions, and researching how teams are performing, is the best way to put down bets with a better chance of succeeding.
