Sports arbitrage refers to the idea of making a definite profit from a variation in odds between sports books. Usually, backing all results is an impossible. But if you know how to take advantage of the differences, you can Lion Slink straight away.
LionSlink is the term applied to the method of placing a bet on all possible outcomes with the bookmaker of a specific sports event. You back all the outcomes with a single stake at a single sports book, in your home country or the location in which you will be betting.
Depending on the bookmaker, you could make a bet on team A, the home team, to win the match. Then, you place a bet on the same team, to win the match at a different sports book. You guarantee a profit, no matter the outcome of the match. If you have it right, you’ll get a refund of your stake and your winnings will be proportional to the difference between your stake and the bookmaker’s odds.
Sports arbitrage betting is not the easiest way to make money, but with the proper approach, it can be highly rewarding.
LionSlink can be explained using the image of a coin. Each time you toss the coin, there is a one in two chance of it being heads and a two in three chance of it being tails. At the point of tossing again, it all starts again.
Each time you place a bet on an event, there is a different probability of it happening. The probabilities can be explained using the coin example. Each time you toss the coin, there is a one in two chance of it being heads and a two in three chance of it being tails. At this point, if you know the probabilities for the outcome, you can always know what the bookmaker’s odds will be, no matter what happens during the match.
But you don’t need to be a mathematician to use the approach. Even if you can’t calculate the odds to the point of remembering, you can easily work out what the chances are by working out the your stake and the odds.
An example of this would be hoping to win the lottery. Since the chances of winning the lotto are about 1 in 14 million, you will statistically lose about 1 in every 14 million times you don’t match the winning number. The question is, what are the bookmakers odds on this event? If you said 5 to 1, you would be correct.
As far as betting exchanges are concerned, they give you the chance to back an event to lose. This might seem counter-intuitive, but you can think of it in this way. Imagine that you buy a football match on the Grand National with odds of 11 to 1. The betting exchange, in effect, will give you the opportunity to place a bet that will either win or lose, regardless of the outcome of the match.
Therefore, if you believe the Grand National will not be won by either side, you can lay part of your bet off on the betting exchange, giving yourself a better chance of either winning or losing.
In effect, the betting exchange does what the bookmakers would do in a normal market scenario. They offer an opportunity to place a bet at a price that is higher than the one that they have set. Their interest is that whoever wins the match, or in the case of the Grand National, both the team and the winner, they will have to pay out a large amount of money. Consequently, people will usually bet on both sides.
However, in order to obtain a good return on your investment, you need to be very sure about the choice of bet you make. Given the price of the bet, you need to be certain that the odds on both sides are of equal value. However, you need to be aware of the chances of success in betting arbitrage, in case either of the bets lose.
Given the volume of information available on the Internet, you should be able to find some arbitrage opportunities by doing a simple search on Live Rtp.