How to Arbitrage a Bet

An arbitrage bet, also known as a hedge bet, is a betting strategy that takes advantage of discrepancies in odds across different sportsbooks to guarantee a profit regardless of the outcome of an event. Hedging a bet involves placing an additional bet on other outcomes to minimize the risk of losing the initial bet or to lock in a profit. Here's an example of how to hedge a bet:

• You place a $100 bet on "Sportsbook A" with odds of -130.
• On "Sportsbook B" you find the opposite side of "Bet 1" with odds of +140.
• Using the calculator above, you determine that a wager of $73.72 on "Bet 2" at "Sportsbook B" is the optimal hedge.
• Using this strategy, you will guarantee a profit of $3.20 no matter which bet wins.

Arbitrage betting can be a lucrative strategy for experienced bettors, but it requires careful research and a thorough understanding of odds and betting markets. It also requires the ability to quickly identify discrepancies in odds and act quickly to place bets before the odds change. However, it's important to note that hedging can also limit potential profits and you are essentially trading the potential for a larger win for a smaller guaranteed profit. When hedging a bet, it's important to carefully consider the potential outcomes and calculate the risks and rewards of each option.