Today I’ve prepared detailed material about the problems that can arise in work with arbs. I’ll also try to find the most optimal ways of their solution.
This article would be especially useful for newbies who are just starting their acquaintance with arbitrage betting. Due to their inexperience, they can make lots of mistakes that lead to loss of funds.
Key problems in arbing
To begin with, let’s figure out what are the main risks in arbing as of today:
- Bet limitation
- Betting returns
- Odds change
- Difference in bookmakers’ rules
- Mistakes of arb scanners
Thus, the main “pitfalls” are already known, and we can proceed to more detailed consideration each of them.
Bet limitation
As we all know, bookmakers have a pretty negative attitude towards arbers, since we bites off a tangible piece of their pie. Therefore, they often apply cutting the limits (bet limitation) as one of the methods to deal with such kind of punters.
Under cutting the limits means reducing max stake amount to the min value (often up to 1-2 $/€). It makes arbitrage betting virtually impossible. Actually, I’d rather do a more detailed review on bookmaker’s methods to deal with arbers in a separate article.
Getting around this type of ban is quite difficult and most likely you’ll have to open a new account in the system under the name of someone from your relatives or acquaintances. However, there are a few rules that will help to reduce the risk of getting your account limited. More details about these rules can be found here.
Betting returns
In the rules of many bookmakers, there is a clause stating that a bookie may not pay out the winnings and make a bet return (odd = 1) if there was a technical “error” in odds formation on a particular event.
I knowingly took the word error in quotes. Certainly, sometimes the bookies can really make a mistake and set the wrong odd in one of the markets. Nevertheless, they often use this rule as “excuses” for any bet cancellation. It’s worth noting that this is not practiced by all bookmakers, but mostly those with a low rating.
Of course, it’s extremely difficult to foresee a problem with betting returns. But if you see clearly erroneous, overestimated odds for the event you selected – I strongly don’t recommend placing a bet. Indeed, in most cases, it will be calculated as odd equal to 1.
Odds change
This problem is more typical for Live arbs, where odds are changing too fast, and inexperienced, and sometimes even pros may not be able to cover the arb.
What to do in such a situation? Well, in case odd on the selected outcome has dropped down too much and doesn’t exist anymore, and you haven’t managed to cover the arb, then you need to pick up the other odd where your loss would be minimal. As a result, you’ll not lose a significant part of your bankroll and be able to compensate it by means of other arbitrage situations.
It should be noted that such minimum losses are fairly common while arbing, and experienced arbers know how to promptly win them back.
Difference in bookmakers’ rules
The rules of bets calculation for certain types of sports can vary markedly at different bookmakers. As a consequence, an arber can get into such an unpleasant situation, when one of stakes will not be calculated exactly the way it was expected.
I’d like to emphasize that difference in bookmakers’ rules most typical for hockey, tennis, and baseball, but it is also found in other sports.
Therefore, when registering an account at new bookies, make a detailed analysis of the rule differences in sports you’re betting. It takes literally a few minutes time but will protect against possible loss of funds.
Mistakes of arb scanners
Not only bookies but also arbitrage betting services can allow technical errors. Sometimes it happens even with the most well-known scanners.
For instance, the scanner may connect similar or identical team names in one arb, or give odds on a particular bookie that are not real.
If you’re a customer of one of the arb services and would like to reduce the risk of getting into trouble due to such errors, I advise checking the team names, odds value and start time of the event in the arb of the scanner with the same indicators on bookmaker’s website.
Summary
Today we’ve considered the main possible risks in arbing and methods to reduce them. Summarizing all the above-stated information, I can conclude that some of these problems can be easily leveled out if you approach the process of arbitrage betting with the utmost care and concentration.
Finally, I would like to give you few more tips how to safely work with arbitrage betting and avoid bet limitation.
First, don’t trust your finances to little-known bookies, and cooperate only with proven, reliable ones, whose reputation is confirmed by the opinions of other gamblers and bookmakers’ ratings.
Personally, I would advise you to pay attention to the bookmakers Sbobet and Pinnacle, which are quite loyal to arbers and won’t cut your maximum stake amount.
But, unfortunately, it’s virtually impossible to find arbs between these bookies. That’s why you’ll need to open accounts in several other bookies, which are soft towards pros (e.g. WilliamHill, Bet365).
The same applies to the choice of arbing service. In case you decided to entrust the process of search arbitrage situations to professionals, then select only proven and reliable scanners.
Fortunately, there is an extensive arb scanners rating on our site that will help you make the right choice.
Well, that’s it for now, but in case you have any further questions, feel free to ask in the comments.
