Taking Arbitrage one step further.

• Author: Ed
• Filed under: General, Tips
• Date: Jul 21,2008

We covered the basics of arbitrage the other day, today we are going to take it one step further by looking at some more advanced strategies, and looking in to what makes arbitrage not quite as fool-proof that some may think it is.  Remember, the key to any strategy or system is first becoming an expert without putting any cash down, so learn as much as you can about arbitrage and then you’ll be able to make your own calculated choice as to whether or not it is ‘worth’ it.

We’ll start with the risks.  There are a number of risks in using an arbitrage based system, but the most important ones are the following.

Sports book Rules. This is one of the most important risks of the system.  Different books have different rule sets for what happens ‘if’ scenarios.  For example: - what happens if the game is a draw? What happens if the game gets stopped?  You need to ensure you do thorough research with all your books to ensure that you know what will happen.  It may very well be an unavoidable risk, but if you know it is there, and what it is then you can account for it in your money-management system.

Sports book Mistakes - With the advent of online books, this isn’t quite as occurring as it once was.  However, if it does happen chances are they have the right to cancel any bet at any time in order to protect their profits.  So, if you see some odds that are just too good to be true, and you then take them - chances are if it’s a mistake, your bet will be cancelled.  Running a single bet (non arbitrage system) this isn’t a problem, but when you are running two or more bets simultaneously, then you may very well find yourself in trouble.

Procrastination - Make no mistake ladies and gentlemen, this is not a system where you can plan your moves and execute them slowly.  By all means there is plenty of time to plan, but you must be prepared to make the move and act quickly to make sure you don’t miss out on the proper odds or even miss the entire bet.

Human Error - We all make mistakes, and when you are running an arbitrage, you can’t afford to make any mistakes whatsoever.  Make sure you take plenty of breaks and keep refreshed.  Don’t run this system 12 hours a day 7 days a week because you will get tired and make mistakes.  One mistake could kill a day’s worth of winnings, or heaven forbid even a week’s worth.

To keep up and with the system, you need to make sure that you are reading between the lines, understanding the odds, understanding the rules and understanding the bookmakers - as well as understanding yourself and the game.  You need to spend time to learn the basics before you can successfully Arbitrage it is not as straightforward and sure-fire as it seems.  Remember - just one mistake is all it takes to lose a lot of profit, and when you do - the only person you can blame is yourself sadly.  Take the time to get acquainted with all you need to before trying arbitrage.

They are my risks with arbitrage, now how about some solutions ? What do we need to do to eliminate those risks ?

All about Arbitrage

• Author: Ed
• Filed under: General, Tips
• Date: Jul 19,2008

Online sports betting as we all know too well is about placing bets online, and winning.  Sadly for some of us success doesn’t come too easily nor do we interpret our system correctly to give us the success we deserve.

Today we’re going to take a look at a way of betting called Arbitrage.  Arbitrage is all about looking for guaranteed wins but we must admit it is not as easy as it sounds.  Arbitrage may sound like sure-win after we’ve explained it, but it dies carry a significant risk if you don’t take care as you are relying on the bookies not to make mistakes.

So? What is arbitrage?
An arbitrage bet is all about using multiple bookmakers to back the same team.  This gives us a guaranteed profit providing the bet doesn’t get cancelled and the bookmaker doesn’t make a mistake.

What are the drawbacks of online sports arbitrage?

A typical arbitrager will make maybe 4% or 5% at most when they use the arbitrage system, thus to make decent return, one has to invest significant amount of cash to ensure that he is in the winning.  This means you also need a significant start-up capital to learn the ropes and figure everything out.

Let’s look at an arbitrage example bet
we want $100 profit
Football Team1 = 1/5 (1.20)
Football Team 2 = 7/1 (8.00)

($100 / 1.20) + ($100 / 8.00)
    $83.33        +     $12.50        =      $95.83

So in turn - we now know we need to wager $95.83 to make $100 profit as you can see the return on investment is quite low.  But it does allow you guaranteed winnings if you’re lucky!

What do you think about arbitrage?

Are you a Sports Betting Pro ?

• Author: Ed
• Filed under: General
• Date: Jul 17,2008

A question we may all ask ourselves at one point is "do I take it to the next level?" What exactly that means can be a mixture of things, but does anyone who asks that question ever really succeed?

Sports’ betting online is a hobby and a pass-time for many people.  For others, it is a livelihood and a career.  I know many people that fund their life around sports-betting and I have to ask myself, "Do they have what it takes?" a lot of the time; the answer is no.  They constantly run their ‘business’ on very tight margins and for many - they are just addicted and waste great sums of money in chasing their losses.

However, there are a few inspirational individuals that really do have what it takes, and we’re going to take a quick look at them and see why they differ from other typical gamblers / cappers.

Let’s imagine this - we’re halfway through a season.  Our bank is positive and we’re up £200.  What do you do?  Take out the £200 or take out the initial investment?

You’ve just had a losing streak of five losses.  You’re now about to expose 20% of your bankroll in one bet.  Do you place it? Or do you fold?

Your friends a tipster and he just gave you a tip.   What’s the plan do you follow him or follow you?

Do know how much the vig has cost you since you started this season?

Do you have a history of all your online bets, EVER?

Ok, those questions are all pretty basic and perhaps uninteresting.  But read between the lines and they highlight something very real.  Sports’ betting is a business.  Right now it is a business for the books, they are very professional at calculating their take and making sure they get their share from you, and they are also very successful in appealing to your inner demon. If you are an experienced amateur sports-bettor, and you want to evolve to the next level; then you need to be the business. 

Over the next few posts we’ll be talking about taking things to the next level and becoming more professional and controlled in online sports betting.  We’re not going to tell you what to do, but our aim is to have some open debate on the matters that are important in becoming a more successful bettor.

Looking after your Cash. Who to choose?

• Author: Ed
• Filed under: General, Tips
• Date: Jul 15,2008

These days, one has to be very careful as to where they put their money, and what they do with it.  Especially with online transactions due to new laws imposed such as the patriot act.  If you are not careful and deposit your money with a less than scrupulous merchant you can find your money disappear, likewise if you use a large merchant and ‘forget’ to verify yourself. 

Either way - looking after your online assets is not as easy as it once was.  Today we’re going to look at some recommendations and work out some conclusions.  We’re writing this story because we are aware that many people have problems with depositing money withdrawing money, and accessing it after it becomes ‘internet cash’.  What is the point of playing an online sports book if you can’t get at your winnings?

So firstly - our first piece of advice. ALWAYS choose a reputable sports book.  Don’t do a Google for "sports betting online" or something like that and click on the first one you see.  Do your research, read some reviews.  Make sure you know the following:

1. How to deposit money.  What methods are available? Do they have a secure server? Do they use a well-known payment-processor? Do they have any specific policies? Is your country ‘allowed’?

2. How to withdraw money & how long it takes. What fees are involved? Do you need to verify any information?

3. How to contact support in-case of problems, Do they have a telephone number? where is their office located, do they have ‘instant chat’ (if-so try it)

You really need to check these out before you start to deposit any amount of cash with any online entity.  I’ll be honest and say that a-lot of books will quite happily take your money if you deposit it and you can’t actually use the service.  Should they pay it back? It was your mistake!
This has been a line I’ve heard a few times.  So be wary of this and make sure you know the rules for the site you are using, as they are all too quick to turn them against you if you fall into problems.

When we deposit with an online book, we either use one of the large brands.  Bet365, Betfair, or if we use a smaller one we ALWAYS try and use Neteller. 

Neteller are one of the most prevalent payment processor for gambling sites and online books, as such the majority of reputable ones will be able to accept Neteller, although there may be some fees with withdrawal.  It’s up to you to find this out, but normally these fees are nominal and they are well worth the added protection from an online payment-processor.

We’ve just scratched the surface here, but it should be enough to get you thinking.  Soon we’re going to follow up with some Internet security advice to ensure that if you can have a relatively safe computer, even if you aren’t a PC Whiz kid.

Good luck!

Sports Betting gone wrong

• Author: Ed
• Filed under: General
• Date: Jul 13,2008

We recently read a story about a young 16 year old kid who had found online-poker and been gambling illegally for a period of time unaware to his parents.  initially he had learned a ’system’ and was sports-betting with some success, however the kid was depending on an unreliable tipster service and after a period of time he was in some very big debt.

He had used his parents credit card. 

He had amassed £4,000 in debt in a space of three months during which, for some reason his parents never bothered to check what he was doing on the Internet, or even check their credit card statements.  It turns out that the kids dad was a frequent poker player and his wife was the person who wears the trousers and she had wrote of the debt as "Daddy trying to break even"  You can guess what this did for the marital situation.

As a result, we feel the need to stress our opinion on minors that gamble.  It is wrong.  Kids may and do find gambling attractive, it is colourful social and fun.  However - the sad truth is many kids ( even older ones ) don’t have a real grasp on how much money is worth or what it costs to live, so as a result it is actually quite easy for your child to spend a lot of money without your permission.  How do you prevent this?  I’m going to be blunt.  Don’t give your child a credit card.  Don’t give them a private computer.  Don’t give them carte blanche to spend whatever they want. 

So - to prevent your child from gambling on the net? Control their finances and your own - then you won’t have a problem.  If your child starts playing something like slot machines, make sure you find out about it sooner rather than later.

Did you know that gambling addictions are four times more likely for underage people?  There are an estimated 2.5 million compulsive gamblers in the USA.  Are you one of them ? is your child?

Stay vigilant and protect yourself and your family.  Online sports betting can make a great deal of money, but it can also cost a great deal. 

Bet365 Sports book Review

• Author: Ed
• Filed under: General, Reviews
• Date: Jul 11,2008

We have to admit that bet365 are one of the more traditional forms of online bookmakers.  They have been in operation since 1974 and they hold a UK based betting license.  They operate a huge number of betting offices and as a result; unlike many online betting operations they do have a telephone number; a head office and someone to talk to should you ever need it. 

One of the major advantages with bet365 seems to be the variety of sports they offer.  They have a great deal to choose from including the not so popular darts. Handball and others.  As a result many people recommend them as a number one. 

We took a look at Bet365 today to see what is exactly special, and whether or not they are worth the time spent to get an account.

The first thing we took a look at was the online casino room - because we like a bit of a flutter.  Sadly we have to admit that while there were a great variety of games, we did not find we had much success.  It could have been luck, but sometimes Betting operators like to "bolt-on" more features to their operations, and the casino side of things just may be one of them.

Bet365 Sports-book.  We have to admit, that since Betfair launched a few years ago, it has been the buzz of the internet, however as we said in our previous reviews odds are not that much better than mainstream bookmakers.  Betting exchanges have their place as well as bookmakers, and Bet365 are one of the giants in the industry.  Their website is not the greatest, but it is service you are after, and on that side of things they do deliver.  Being established online for well over 10 years, they know what they are doing and their website has a professional look that is not childish or cartoon-like compared to many others.

If you take a look at the Bet365 homepage - you’ll see they have a huge choice of sports. We played with one rule: Keep it simple.  We didn’t use exotic bets, and we kept our sport to the horses, and we had absolutely no complaints with Bet365.  Bets were executed quickly, and after we had finished playing, so was payout.

Overall we have to admit that Bet365 may not be the greatest thing since the online sports-book was invented, but honestly they are not too bad.  Give them a try with a promo they have and what’s the worst that can happen?

All in all - 7/10

Good Luck!

How to find a good Bookmaker

• Author: Ed
• Filed under: General, Tips
• Date: Jul 9,2008

With a rapid increase in the number of online bookmakers, we are sad to report the amount of less than savoury bookies that have started to appear.  Nowadays it is more important than ever to ensure your own personal Internet security to ensure that a) you don’t loose your money and b) you actually get your winnings.  As a result we’re putting together a little guide on how to find the best bookmaker for your money.

1.  Find your bookmaker through word of mouth.  Nothing speaks better about a bookmaker than fellow punters.  Listen to your friends and go with someone you trust.  Alternatively read many reviews and make an informed choice.  (Our partners are all proven and reliable)

2.  Many bookmakers have very, very bad odds.  Make sure you check the odds you are betting with against other bookies both online and offline.  Don’t be assured just because they are an online bookmaker that they have good odds.  Make sure and check the odds against Betfair.

3. Alot of bookmakers refuse to take large bets.  This can be pretty off-putting so you need to check in advance, because if you are running a system, then this may destroy any chance of recovering if you are in the red.  Bookies can consider $250 a big bet and to some, it is miniscule - so make sure you know what sizes of bets your bookmaker will accept.

4. Customer Service is a paramount necessity for everyone.  Perhaps you will never use it, but I guarantee you some day you will.  Make sure you check out how to contact them, how often they are available, and give them a test run.  It is important that you trust them also and they are professional and courteous.  After all you are dealing with the people that hold your money and they need to be reassuring and helpful.  Too many people encounter problems when withdrawing money - check with them to see what is required and how long it will take.

5. Have you ever registered at an online bookmakers website and been stunned by the amount of small print to read? We must admit it is a necessity with all the online laws from fraud to money laundering to patriot act it is all required.  However, some bookmakers like to hide a number of clauses in there, and they can be very hard to decipher.  Terms of service should be clear and easy to read.  Make sure you check them for things like payouts, violations, and anything that may mean you don’t get your winnings.

Take your time to find a good bookmaker, and when you find one don’t be scared to do a bit of research.  Google is a very useful tool, and you should use it to ensure that you know as much as possible before you deposit any money.  After all if you win $10,000 what is it worth if they will actually only pay you $100 per month ?

Stay one step-up and know your bookie well.

Good Luck!

What is BetFair all about?

• Author: Ed
• Filed under: Reviews
• Date: Jul 8,2008

If you’re new to sports betting online, today we are going to provide a little information on a website known as betfair.

Betfair are an online betting exchange which basically means that they are not bookmakers, the bettors are.  It’s quite a novel principle and it is very successful.  As a result, Betfair have grown from strength to strength and are now one of the Internet’s largest online betting sites.

So - Why use a Betting Exchange?
If you use Betfair, you are instantly cutting out the bookmarker. As a result this means you can offer your own odds which mean you make more money. Betfair would have us believe that the Betfair odds are over 20% better, however given their high commission rate, it all works out just about the same, but you need to bear in mind Betfair has a larger range of sports, live betting and many, many features that make it more attractive to use compared to the traditional online bookmaker.

Betfair has a minimum bet of £2 with no maximum bet in place. They support multiple currencies and the website is multi lingual and available in the following languages English, Italian, German, Cantonese, Danish, Chinese and Swedish.

Minimum deposits for the site are £25 or whatever the equivalent is in your local currency. They support multiple deposit methods including Credit Cards, Debit Cards, PayPal, Neteller, Moneybookers, MoneyTT, MoneyWorld, Western Union, Bank Transfer and Cheques.

When you come to withdraw money from Betfair the good news is they are efficient, and the process takes approximately 2 – 5 days. This is a great turnaround and it beats many online betting websites. They also have a number of new player incentives, and overall provide good technical support.

In conclusion Betfair are to be recommended. They are an established and well known betting exchange and they are very popular. They provide a good service with many features, and they are friendly for new players. They have a strong community and they police their members well. Give them a try, and if you want a starting bonus, have a look at our partner links to the right – and join via this.

Good Luck!

Moving Forward

• Author: Ed
• Filed under: General
• Date: Jul 6,2008

We’ve had a look at a lot of off-line betting tips, but we must admit the focus of this online blog is about keeping things digital, after all this is the Internet, and we are in a digital era.

Our goal is to do everything from our computer, and Why ?

If we "work" from our computer, sports betting actually gets a hell of a lot easier.  Think about it, and you’ll agree

RSS Feeds - If you don’t know what RSS feeds are; then prepare to be ashamed.  They really are the poster child of the new Internet era known as web2.0.  What an RSS feed basically is, is a mini-website that has only the content you want on it.  You need a few things to start.  The first is an RSS reader, if you use the popular Firefox browser, you can download a plugin for it from their website.  Alternatively do a quick Google.  The second thing you will need is an RSS friendly website.  Nowadays they aren’t hard to find.  Even the BBC is RSS friendly nowadays, so I’m sure your favourite bookie is also. 

When you "subscribe" to a feed as it’s known in the biz, you’re basically asking your reader to store the web-site address and to visit it whenever it gets updated.  This saves you having to go to the site, and as a result saves much needed time, as the RSS reader tells you when there is an update available.

Live streaming media - Another star-child from web2.0 live streaming media is all about online video, sound and commentary.  This is actually one of my favourite features.  I can watch a race as it happens in another country.  These days most bookmakers have some sort of streaming service set-up.  Don’t necessarily rely on it for ’speed’ but it is generally great to keep track of things.  Broadband only I’m afraid.

Statistical Software - Excel goes by many functions, and it makes a very good planner as well.  This popular tool from Microsoft lets you do almost anything you could imagine with figures.  You can create charts, formulas, you name it.  The perfect tool for creating systems and recording your history.

Online Betting Communities - No man is an island.  We all need advice now and again, and when we’re not going down to the local bookmakers, we are loosing out on valuable inside information from other punters.  The Internet’s alternative has to be what is known as a forum.  This is an online community where you can chat and communicate.  Take a Google for "Sports Betting Forums" to find out more.

That just about rounds it up for today.  Can you think of any more? Leave us a comment if you can!

Following on

• Author: Ed
• Filed under: General
• Date: Jul 4,2008

Following on from our post the earlier day, today we are going to start talking about the other kinds of betting systems that are available.

We’ve looked at flat betting and why it is attractive -

Today we are going to take a look at variable bet sizes, and why or why not to use them. This is a popular betting strategy with horse racing but it can be applied for any sport if you know how to change the parameters. Today we give a brief synopsis and in the following week or two we will outline the details.

Take a look at this rule below.

Optimum bet size consists of three things.
1. Your Bankroll
2. The Chances of Winning
3. The Odds at which you will be betting.

This is essentially the formula behind variable betting.  You work out the bankroll, how much you can afford to wager, your experience and knowledge of the sporting event works out your likely chance to win, and the bookmaker tells you the odds he will give you to win - so with that information you can work out how much you need to bet to reach your target profit.

What is the biggest problem with this system?
Rule number 2 - Unless you can statistically analyse how your team or your player is performing and calculate it like this to give you an unbiased win - we are no-doubt unconscionably going to favour our team and give us inaccurate results.

So - there lies the problem with variable bet sizing.  It is dependent on our knowledge of the game, and our ability to be honest with ourselves. 

This is essentially it. 

Next time we take a look at a variable betting system that is apparently documented to work.  We’re going to review it and let you guys test it for free.

So come back soon, and remember and let us hear your comments!