In my previous articles I’ve already claimed Prematch arbs to be easier dealing with than Live.
Which is why pros say one should start learning with the basics of Prematch.
Although, despite the simplicity, Prematch arbitrage situations have particular features. That’s why I highly recommend this article to be read by all newbies.
What are the challenges?
Newbie can make mistakes while working with Prematch which can lead to adverse consequences like loss. Here are the most common:
Maximum permissible stake was not included
Frequently newbies have problems with Prematch if stakes are already calculated but possible limitation of the maximum stake was not taken into account.
A disagreeable situation can occur when you bet at one bookmaker and there is no time to cover it, as the bookie will not let you put the stake you want.
To avoid it, you need to keep up to some simple rules. First, you need to check the maximum stake at every bookmaker you have an arb with by going to the betlip.
Some bookmaker display the max bet at once, when other bookies like WilliamHill or Betfair Sportsbook hide it. You need to enter the stake that exceeds your balance (or simply a huge sum) and press “Place a bet”. The system will return an error and show you the max stake possible for this outcome.
Secondly, you need to stake first on the bet that’s obviously overstated comparing to other bookmakers. Therefore, the odds on the second bet would be fairly equal at several bookies. And even if one of them doesn’t let you place the stake you want, you alway can use the other one.
By the way, if you use arbing services, some of them have an option of “adjacent odds” – the list of best odds on the particular outcome displayed in a popup window. All you have to do is to select the bookmaker you like.
If you do not use such services, info on adjacent odds you can find on comparison services (like OddsFan). The info is presented in the same format and for free!
One of the bookmakers canceled the bet
It sometimes happens fore sure. One of the bookmakers can cancel the bet claiming a misprint on the line.
It’s important to quickly make a decision and cover the bet at another bookie. Of course, there is a chance that the odds will differ, but still it’s better than significant loss.
Alternatively, you can make a cash-out on the bet that was not canceled. Cash Out is a return of the stake with commission for this service. This function is available at many bookmakers like WilliamHill and Bet365.
Interesting that cashout directly depends on the outcome odds you’ve made a bet on. For example, if you bet $10, you can cash out $9.50. However, if the odds go up, the sum for early cash-out will rise. Thus, Prematch cash-out can even close with a gain. That is, you can withdraw more than you’ve bet.
You can also try to cover the bet at another bookie on Live. Though, there is a chance that the odds appear to be lower than you initially imagined them to be.
However, everything will depend on the scenario of the match. The odds may go up and down eventually. But trust me, all that matters is to wait for the proper time to bet.
Difference in bookmakers’ rules was not included
One of my previous articles was directed towards this theme. The difference in rules can be pretty tangible.
The issue here is that arbers simply forget to go over the rules at new bookmaker they sign up to. And it all may ripen into a disagreeable situation.
Therefore, I constantly recommend to check the rules at new bookies. It’ll help to avoid such force majeure which can cut off your money in a jiffy.
As you can see, Prematch arbs which are apparently easy turn out to have certain difficulties. And only knowing all the pitfalls can keep you from a mess.
Keep the rules I have told you about in one of my article and your account will live long.