Arbitrage Calculator
Use this arb calculator to help ensure your bets will be profitable. Shrewd sports bettors can use hedging and arbitrage to lock in a guaranteed profit regardless of the result of a sporting event. Hedging your bets allows you to take advantage of line changes to cover every potential outcome and assure yourself of a profit. Arbitrage involves seizing upon discrepancies in the odds offered by rival sportsbooks. You can then cover each potential result and guarantee a risk-free profit, no matter what the result is.
Inputs
# of Bets: Number of distinct possible non-push outcomes of the event (the number of horses in the race)
Bet #1: The bet to be placed on the first outcome
Line #N: The line offered on event #N
Outputs
# of Bets: Number of distinct possible non-push outcomes of the event (the number of horses in the race)
Bet #1: The bet to be placed on the first outcome
Line #N: The line offered on event #N
Example
If the odds offered on the different outcomes of a bet are sufficiently large then a profitable opportunity called a scalp exists. This is where a bettor may secure risk-free profits by betting on every possible outcome of the event.
For example, if one book were offering the Yankees to win against the Blue Jays at -150, and another book were offering the Blue Jays to win against the Yankees at +155, then for every $100 you bet on the Yankees, were you to bet $65.36 on the Blue Jays, you’d guarantee a risk-free profit of $1.31 or 0.791%.
Likewise, if a given contest had 4 possible outcomes (such as, say, the number of contestants remaining on a season of American Idol, or the number of teams remaining in the NCAA tournament) and by shopping lines at different book you were able to find odds of +400 on each one to win, then by betting the same amount on each team or contestant you’d have the same profitable result (+25%) regardless of the outcome.
This calculator may also be used to determine the theoretical hold (also known as vig or juice) charged by a book on a given market. By entering a given book’s line on every event outcome, then the negative of the % profit corresponds to the book’s theoretical hold. This represents the amount the book expects to make on average with any given bet. For example, if a book is offering team XYZ to win at -107 and is also offering team XYZ’s opponent to win at -107, we see that this implies juice of 3.271% (i.e., % Profit of -3.271%).
Note 1: The calculator accepts US or decimal odds. For Decimal odds greater than or equal to 100, preface the odds with either a “0” or a “d”. For example, decimals odds of 200.0000 could be entered as either”d200″ or “0200”.
Note 2: The calculator will convert exchange money lines + commission into zero commission sportsbook-equivalent lines. If you enter a money line followed by a space and a percentage, it will treat that percentage as an exchange commission and the pair will be converted for you automatically. For example, if you entered a line as “+100 2%”, that would be converted to a zero commission line of -102.04.
Arbitrage Calculator
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Using Arbitrage to Make Money in Sports Betting
Traditional sports betting is a purely speculative endeavor. You may build up a formidable level of expertise in a particular sport, conduct thorough research and make educated guesses, but you are by no means guaranteed to make a profit. Hedge betting and arbitrage betting totally flip the script, because they allow you to lock in a profit. You can think of it as investing your money rather than gambling with it. You do not even need to know anything about the sport in question. You simply need to gain a comprehensive understanding of how to hedge a bet and how to calculate arbitrage. This page teaches you everything you need to know.
Differences Between Hedging Bets and Arbitrage Bets
Arbitrage involves monitoring the different odds offered by rival sportsbooks and capitalizing upon discrepancies. You can use the betting odds comparison pages to spot an arbitrage opportunity. For example, let’s say Sportsbook A is offering odds of -333 on the Kansas City Chiefs winning a game against the New York Jets, and +293 on the Jets winning the game. Sportsbook B might offer -227 on the Chiefs and +190 on the Jets. If you were to wager $145 on the Chiefs with Sportsbook B and $55 on the Jets with Sportsbook A, you would be guaranteed a profit regardless of which team won the game. One bet wins either way, and you will receive an overall profit.
Hedge betting focuses on taking advantages of line changes. It differs from arbitrage, because you do not need to sign up for multiple accounts at different betting sites. When Conor McGregor fought Donald Cerrone at UFC 246, he opened as the -230 favorite, while Cerrone was the +240 underdog. However, McGregor was a popular pick among bettors, and by the night of the fight he was the -330 favorite, and the odds on Cerrone had drifted out to +270. If you had bet $230 on McGregor winning the fight at -230 when the odds were first announced, you could then bet $90 on Cerrone at odds of +270 on the night of the fight and be guaranteed a profit, regardless of the outcome.
Importance of a Calculator
It can be very difficult to know exactly how much to stake on each outcome in order to guarantee a profit when you spot the aforementioned discrepancies. A hedging calculator and an arbitrage calculator will do all the hard work for you. If you are interested in hedging a bet, you can simply enter the original bet odds into the hedge calculator. Enter the stake you wagered on the original bet and the odds you received, and then enter the odds that are now offered on the alternative result. Click “Calculate” and the hedging calculator will tell you the ideal amount you need to wager on your second bet to lock in the maximum profit.
You could try to do this yourself, but it would require a lengthy period of trial and error, using a basic calculator. You would need to enter lots of different potential stakes until finding the ideal amount to stake on your second bet. A hedging calculator does all the hard work for you, and makes the hedge bet process quick and efficient. You will rapidly learn the bet amount you need for the lay stake in order to secure a guaranteed profit at a particular set of odds, making a hedging calculator invaluable for handicappers.
You can use the hedge calculator as an arbitrage calculator too. Once you think you have spotted a discrepancy in the odds at rival sportsbooks, you can enter the odds offered on one outcome at a particular sportsbook into the calculator. Then enter the amount you might like to stake on that bet. Think of this as your original bet. Finally, you can enter the odds being offered on the alternative outcome at a rival sportsbook and hit “Calculate”. The arb calculator will then tell you the bet amount required – how much you need to stake on the second bet to lock in a profit. You can then go back and change the stake on the original bet if you so desire, and the arbitrage betting calculator will continue to tell you the bet amount you need to wager on the second bet to lock in a profit
Our hedging calculator and arbitrage bet calculator allow you to insert decimal odds or American odds, as we know that some arbitrage bettors prefer to use decimal odds when calculating a bet amount, back price, lay bet and so on. Sports betting fans can enter their hedge bet in decimal odds, the hedge odds on the second bet and quickly learn how you need to wager to ensure the bet wins either way.
Why Do Multiple Sportsbooks Offer Different Odds?
There are several reasons why two rival sportsbooks might offer different odds on the same game. The odds compilers at one book might read the game differently to their counterparts at another book. One sports betting site might offer above average odds on a particular team in order to stand out from its rivals. This is common among new, ambitious sportsbooks. A sportsbook could simply be slow to react to a shift in the market, or an odds compiler may have made a mistake. Either way, you can use arbitrage in betting to seize upon these discrepancies and guarantee that you make a handsome profit.
Different Hedging Opportunities
There are many different forms of hedge bets, including futures, parlays, pre-game line changes and live bets. Futures wagers often provide numerous ways to hedge odds and secure a guaranteed return. If you bet $10 on the Vegas Golden Knights to win the 2018 Stanley Cup Finals at preseason odds of 500/1 (+50000), you would have been delighted when they reached the Finals. Their opponents, the Washington Capitals, were +140 to win the Stanley Cup. Then, you could have used our hedge odds calculator to tell you how much you needed to wager to make a maximum hedge profit by placing a hedge bet. The answer would have been $2,087.50, which would have guaranteed you a profit of almost $3,000 regardless of which team won.
A live bet is another great way to secure a risk-free profit by using a hedge bet. If you were to bet $100 on the Brooklyn Nets to beat the LA Lakers at moneyline odds of +350, you would be happy if they took a 15-point lead in the second quarter. However, you might still be fearful of a Lakers comeback. If the Lakers were then -120 to win the game in the live odds, you could afford to bet $245 on them at those odds and secure a guaranteed profit either way. A hedge will essentially decrease your risk while maintaining some amount of profit. It can also be used to ensure that you make a profit if one outcome occurs, and face a smaller loss if it fails. Hedge bets can be used to ensure that your bet wins either way, or to lower your risk if your preferred option fails. A hedge bet is a crucial tool in the arsenal of pro handicappers.
The Best Sportsbooks for Reduced Juice
You stand a better chance of securing a successful hedge bet if your original bet comes at great odds. A back price of -105 is always better than -110 on your original bet if you plan to hedge further down the line, so it helps to sign up for an account with favorable betting odds. SBK in Colorado is an excellent reduced juice sportsbook for hedge bet aficionados. It is worth signing up for reduced juice books like these whenever you have a chance to do so, as you earn a greater margin when your bet wins and it opens up more opportunities to hedge.