I saw that i could arb this because i see -3(+112) or so on Matchbook. Well i place a few bets on Jax a few times and then placed a bet on matchbook. I'm mainly doing this because i have lot of commission credits on matchbook and i have to take the offer as oppose to make offer so it clears those credits. Well after 3 wagers on bodog and matchbook, i try to do it again at bodog and what do you know, its now Jacksonville +3 (-115). Last time i did this in 2 previous games in the NFL, they did this after i bet it a few times.
I guess the smart thing would be place a big wager one time instead of betting it in small increments right? But the risk is of course if you put a bigger wager, the price you get on matchbook might be gone and you need to click real fast. I wondered what would happen if i bet the Titans few times in a row. Would it then go to Titans -3 (-115) and Jags +3 (-105)? Or does the line change only if you bet the side where you can arb? In my case, it was to clear the commission credits on matchbook.
Why do u say so? If i can get -110 on bodog and get +112 on matchbook, why shouldn't i do it? First off, i arbed it though its a very tiny arb. 2nd, even after the commission credits, i would get about +110.88 on matchbook and i just arb the -110 and +110.88. I think the most important thing is i use up the commission credits because if i don't they end up as a fee. I mean even if you have just $50 in commission credits, you need to have $5000 in wagers to clear it and thats just if you TAKE AN OFFER. More often than not, i only take an offer if its too close to gametime but its pretty easy to get bets matched. Am i wrong here?
How'd you get +110.88? I always thought it worked like this.. let's say you get a +112 and line. At a traditional book you'd be betting $10 to win $12, but on matchbook we would bet $9.90 to win $11.09. Then, since you pay 1% (on the lower amount of risked/won) win or lose, if your bet lost you would lose $10 and if it won you would win $10.99, so actually you would be risking $10 to win $10.99 which is more like +110. I don't see anything wrong with this to use up commission credits, but I don't see how you're making an arb at +110.88 here?
Hi devilcheese. My math is wrong here because i don't know how to arb it correctly. But i will tell you this. This is what i did
I am using $100 as the base amount as the example
Bodog
110 to win 100 on Jags +3 at -110 odds.
Matchbook
98.59 to win 111.41 on Titans -3 at +113 odds. This is of course taking an offer where there is a 1 percent fee
If i win at bodog, i win $100 there. Then i lose 98.59 plus 1 percent commission credit = 99.58 at matchbook. So profit on this arb is 100-99.58=0.42
If i win at matchbook, i win 111.41. But then pay commission on the lower amount which is .99. Profit here is 110.42-110 = 0.42
The thing however is since i got these commission credits back into cash, i essentially turned 0.99 from commission credits into my cash balance which is what i wanted.
I use scalpulator and its easy b/c all you have to do is plug numbers. However, if i use matchbook as one of the books, i get confused because of the 1 percent and don't know what to put on the 2nd line when first line is -110. I came up with 98.59 by just plugging in numbers and using trial and error to get it correct and saw that 98.59 at +113 odds at matchbook would net 0.42 in profit on both sides unless of course titans win by exactly 3 which would push. Can someone here help me on how to get the 98.59 number correctly to arb this. Now if this was at 2 regular books, i would just plug it in scalpulator and it would be easy but with matchbook, i don't know the exact number to plug in.
So let me get this right... you have access to the bodog square lines and you're wasting them by making tiny little arbs?
For someone constantly asking about how to get thousands and thousands of dollars offshore, I'd think you'd want to just bet the good lines at Bodog before they disappear and not waste them like that.
If you have that much trouble using up commission credits at MB, you're doing something wrong.
John, the thing is this. I could get money into Bodog or 5dimes easier than matchbook since it doesn't cost me anything because i get reimbursed the fees. I have less money in matchbook. I told you last time i made a $3k deposit using matchbook *************** and didn't like the $105 fee reimbursed in commission credits because after a few weeks i saw that almost every bet i made, i made an offer and it got accepted. Back in the old days when it was 2% fee no matter what, of course i wouldn't mind it because i would probably use up those credits easily. I still have $90 commission credits left after 3 months because most of the bets i make there are when i make the offer. I would say at LEAST 90-95 percent of my bets are i made the offer which is why its hard to use up the commission credits. Can you tell me what you are doing that gets those credits used up?
My main goal while doing this is hoping i lose my bodog bet and win my matchbook bet so i essentially get money into matchbook this way without paying fees. Am i wrong for thinking this? Of course if the bodog side wins and the matchbook side loses, I am unhappy because the complete opposite thing happened.
What do you mean by i want to bet the good lines at bodog before they disappear? If you sare saying i just want to bet the soft number, no i don't do that. I don't go i take Titans +6.5 on bodog because all books have Titans +6. Also, what is the point of me betting on bodog since matchbook has the best line almost all the time. I mean if most books say have Titans +6 (-110) and say Bodog has a soft line of Titans +6.5 (-110), you probably could get Titans +6.5 as an alternate line on matchbook for a bit better than -110 so bodog serves no purpose.
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