The answer is – yes you can, by using a method known as ‘arbitrage’.
Arbitrage is a method of capitalising on different market prices, for the same commodity or event outcome, and it’s been made possible in the sports betting world since the advent of the betting exchanges (such as Betfair and Betdaq) that allow you to either back an event, such as a horse, to win, OR ‘lay’ it to lose.
This allows you to lay an event at the exchange, and back it for a higher price elsewhere thus creating a profit opportunity.
The process can be a little tricky to start with, but if you know what you’re doing and are careful and methodical in your approach you can place two simultaneous bets with two different bookmakers that either result in a guaranteed win, or a win / no loss situation.
The downside is that the so called ‘arb’ opportunities need to be discovered, and they don’t usually hang around for very long as the market always closes the gap within a few seconds to several minutes (not usually more than 20 minutes), so you have to be sharp’ish about getting your bets loaded onto the bookmakers sites.
But the advantage is very significant, as this method can produce small-to-medium tax free, nearly risk free winnings consistently – the only risk being if you make a mistake in your odds and profit calculations.
The other advantage is that everything is done and dusted at the end of the day. Ther’s no waiting for days on end to collect your profits and withdraw the cash if you’re in a hurry to spend it.
Let’s look at a typical example of how you can profit from this method – a recent horse race where the following odds were discovered :-
Horse A – backing odds of 2.5 at Ladbrokes
Horse A – laying odds of 1.5 at Betfair
If we place a bet of £20 on horse A to win at Ladbrokes – we either get a win of £30 if the horse wins (plus our stake of £20 returned), or a loss of £20 if the horse loses.
However – if we lay the same horse at £30 with Betfair if the horse wins we lose £15, and if the horse loses we win £30
So how does this stack up? :-
Horse wins – we get +£30 – £15 = £15 profit
Horse loses – we get £-20 + £30 = £10 profit
So as you can see in the example above, we have a win-win situation, or what is also known as a ‘sure-bet’.
Now not all examples are as profitable, and some can be hard to find, but there are software packages available that can greatly simplify the task of finding arbitrage opportunities, and executing the appropriate bets or ‘trades’. ‘Racing Synergy’ is one of the most professional software packages on the market. Watch their softerware video’s in action to see how Racing Synergy works.