How arb works:
A sporting arbitrage simply arises from different opinion about the odds of a sporting event by bookies.
For example:
Philadelphia 76ers vs Toronto Raptors (NBA).
Odds:
Philadelphia 76ers to win: 2.11 at PinnacleSports.
Toronto Raptors to win: 2.00 at StanJames.
We placed £948 on Philadelphia 76ers to win at PinnacleSports and £1,000 on Toronto Raptors to win at StanJames. The total amount we placed was £1,948 (£948 + £1,000).
This was full time result: Toronto Raptors 105:103 Philadelphia 76ers.
We won £2,000 from StanJames. When the total amount we placed (£1,948) was taken away from the total amount we won (£2,000), we were left with a profit of £52. If Philadelphia 76ers had won, we would have made a profit of £52.28.
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