This article was written by Michelle Diaz, OddsJam.
An arbitrage bet, or arb, in sports betting is when a bettor places 2+ bets on the same event on 2+ sportsbooks in order to lock in a risk-free return. Although this may sound too good to be true, it’s not! This is the result of sportsbooks having different odds on the same game. Unlike financial markets, in sports betting, there is not one, standard line or line calculation formula that sportsbooks use. Thus, when odds get out of sync on 2+ sportsbooks, arbitrage can exist. Of course, arbitrage is not extremely common, but it’s a great strategy for beginning bettors to grow their bankroll and make risk-free money while betting on sports.
Arbitrage Betting Example
Los Angeles Clippers +120 odds on Pointsbet sportsbook
Phoenix Suns -105 odds on William Hill sportsbook
You bet $300 on the Clippers +120 odds on Pointsbet.