Some people really lack of mathematical knowledge here. Let me tell again.
But I don't expect you to understand because I can see you don't have any real experience about this subject.
Please, only speak if you're making arbitrage bets for long time. Don't want to discuss it with people who don't have any idea about it.
Example
Let's say X bet is listed -200 at Pinnacle. If you're picking this at -125, you will make money over long haul. However, while winning at one book, you will lose on another bookie, pinnacle. Therefore, if you know you're betting clearly a value side on another bookie, betting other side at Pinnacle for arbitrage is waste of money.
I said I have a proof. I lived it. Since April, I loaded other bookie accounts only once, when making first deposit. However, I reloaded my pinnacle account many many times since while I was winning one side in other bookie, I was losing at Pinnacle.
Second, it's not very kind to call something "stupid" because you don't agree with it. A very rude behaviour, not very polite really..