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?

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!

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!

Money Management Continued…

• Author: Ed
• Filed under: Tips
• Date: Jul 2,2008

The other day we were talking about flat betting.  I hope you all understand now the benefits of avoiding exotics and focusing on a solid betting system based on likely winners.  Today we’re going to continue on the topic and talk about bankroll some more, but we are going to be speaking about determining appropriate bet size.

Determining an appropriate bet size is crucial in gambling because it lets you make every bet profitable; even if your last one wasn’t.  It does not mean using a martingale system but it means betting enough to maximize your winnings, whilst not risking your bankroll.  Let’s face it, sometimes we have bad runs of luck.  If we have a good betting system, these runs are minimized. 

As a general rule; larger bettors like to limit their exposed bankroll to a figure like 2% - 3%.  This is great if you have £20k to invest in gambling; but if you have £100 what do you do?  Ideally you can stick with this rule, but it is not much fun.  Increase the risk, and change up to 5% - 7%  of exposed bankroll per bet.    Why? because it’s a smaller amount, and if you are winning small bucks, it is not very gratifying. So increase the risk to see a faster return and it will become more personally gratifying if you stick by your rules, and work your system. 
What to wager?  I mentioned above £100 in your pot that is in my personal opinion far too low to operate a longer term strategy for two reasons.  You can’t sustain losses for long; and profits are not so great.  If you’re testing the waters by all means, but try and put an amount in your bankroll that you can realistically profit from. REMEMBER:  You should never risk money you depend on.  Separate gambling into a segment of your income and treat it as a hobby.  If you need food to eat, do not put it in your gambling fund.  Got a spare $10? Put it in there, and keep that money for gambling.  Too many people blur the lines and this is when big problems happen.  Remember and be realistic and pragmatic as your money in gambling needs to be disposable.

Bankroll Bankroll Bankroll!

• Author: Ed
• Filed under: Tips
• Date: Jun 30,2008

What exactly is bankroll?  Today we’re going to talk about money management.  The critical skill that can be applied to any betting opportunity (casino / sports) which when used successfully will yield a sharp increase in profits.

Essentially money management is just that.  It is the ability to manage ones ‘bankroll’ as gamblers like to call it, and to know when to quit etc.  

So - today we’re going to look at some basic rules to help us in the long running.

Firstly - avoid the exotic bets - this means you are focusing on straight bets and flat bets only.  Why do exotic bets exist? Sure they are attractive, but chances are you can do exactly the same with multiple straight bets.  Exotic betting helps one person; the bookmaker!

So what is a flat bet?  - Flat betting means betting similar amounts every time you play.  Similar amounts mean more calculated losses and our profits which make it easier to forecast and predict what is going on.  So for example:

Team A) are the favourites - Bet £30 to win
Team B) not so favourite - You bet £10
Team C) the underdogs - You bet £5

So let’s just say that team B and team C have just won, because you weren’t using a flat betting strategy, you’ve lost potential profit from these two bets.  If you had increased your bets to £30 for each team while your risk is slightly higher, your profit is also considerably higher.   Obviously for this to work one has to win more games than you lose, but generally this is not difficult.  What is hard is sticking to your guns and playing it through!

Continued..

• Author: Ed
• Filed under: Tips
• Date: Jun 21,2008

Following on from the previous post on sports betting terminology we’re going to go one step further today and take a look at some written terminology today in order to help us understand the ‘jargon’ a bit further.

Sports betting can be like a science with very complex literal notation to describe games and other events.  However, with a bit of practice it is easy to decode and start using it to your advantage.

Lets start by taking a look at odds.  They are a nightmare for many people, but they are actually really easy to figure out.

With every bookmaker there are always a number of betting types available, but what you need to be aware of are odds.

Many people over calculate the odds - but its very very simple.  Base it on this working -

If odds are 8/5 then for every £5 you will get $8 back.  so if you have a bet of £15 you will get - £24 back. 

If odds are ‘even’ and you wager, £5 - you will get £5 back + £5

Odds on: if your odds are 1/2 you wager £1 and get £0.50 back

Basically in ‘modern terminology a 1/1 bet returns 200% i.e £1 + £1 a 2/1 returns 300% your initial bet + 200 % profit.  if you bet a 1/2 you get 150% (100% plus 50%).

Odds are a trouble for many people. Don’t get confused at the race track or at the bookmakers. It is important to be able to calculate your winnings so that you can have strong gaming sessions. Another handy hint – Many mobile phones now have calculators. Don’t be afraid to use them.

Enjoy your next betting event.