Arbitrage Betting Tutorial: Finding and Placing Arb Bets

Before You Start: Prerequisites for Arbitrage Betting

Arbitrage betting requires some upfront preparation before you place your first trade. Skipping any of these steps will slow you down or leave you unable to execute when an opportunity appears.

Funded Accounts at Multiple Sportsbooks

You need active, funded accounts at as many legal sportsbooks as possible. The more books you have access to, the more arb opportunities you'll see. At a minimum, open accounts at:

• DraftKings
• FanDuel
• BetMGM
• Caesars Sportsbook
• PointsBet
• BetRivers
• Fanatics Sportsbook
• Hard Rock Bet

Keep a reasonable balance at each book so you can act immediately. If your bankroll is concentrated at one sportsbook, you'll miss arbs that require the other side to be placed elsewhere.

A Bankroll You Can Afford to Tie Up

Arb profits are small per trade (typically 1–4%), so you need enough capital for the returns to be worthwhile. A $3,000–$5,000 starting bankroll distributed across your sportsbook accounts is a reasonable baseline. You'll also need patience — funds can take 1–3 business days to withdraw and re-deposit at another book.

A Fast, Reliable Internet Connection

Arb windows can close in minutes or even seconds. You need to be able to place bets at two or more sportsbooks nearly simultaneously. Having the mobile apps installed alongside browser access helps you move quickly.

Step 1: Finding an Arbitrage Opportunity

An arb exists when the combined implied probabilities of the best odds for each outcome — sourced from different sportsbooks — total less than 100%.

Manual Method

Open several sportsbook apps or websites side by side and compare odds on the same market. Focus on markets where pricing disagreements are most common:

• Moneylines on MLB, NHL, and soccer (three-way markets are especially fertile)
• Player props across NFL, NBA, and MLB
• Alternate spreads and totals in NFL and NBA
• Live/in-game markets where books update at different speeds

Look for situations where one book is notably higher on one side than the others. Then check whether the opposite side at another book is priced generously enough to create a sub-100% combined implied probability.

Using WagerWiz's Arb Scanner

The manual approach works but is painfully slow. WagerWiz scans odds across all major sportsbooks in real time and flags every arb opportunity automatically. Each listing shows:

• The event and market
• The sportsbooks involved
• The odds at each book
• The guaranteed profit percentage
• The optimal stake split

You just filter by sport, minimum profit percentage, or sportsbook availability and start executing.

Step 2: Calculating Optimal Stakes

Once you've identified an arb, you need to calculate exactly how much to bet on each side so your profit is the same regardless of outcome.

The Formula

For a two-way arb:

Stake on Outcome A = Total Stake × (1/Odds A) / ((1/Odds A) + (1/Odds B))

Stake on Outcome B = Total Stake − Stake on Outcome A

Worked Example

You find the following arb on an NBA game between the Milwaukee Bucks and Boston Celtics:

Arb% = (1/2.40) + (1/1.75) = 0.4167 + 0.5714 = 0.9881 → 98.81%

Profit margin: 1.19%

With a $1,000 total stake:

• Bucks (DraftKings): $1,000 × 0.4167 / 0.9881 = $421.66
• Celtics (BetMGM): $1,000 − $421.66 = $578.34

A guaranteed ~$12 profit on $1,000 staked. Repeat this dozens of times per week, and the returns compound.

Step 3: Placing the Bets — Speed Is Everything

This is the most critical and stress-inducing part of arb betting. You need to place both sides as close to simultaneously as possible.

Execution Strategy

1. Pre-load both bet slips. Open DraftKings on your laptop and BetMGM on your phone (or two browser tabs). Navigate to the exact market, add the selection to your bet slip, and enter your calculated stake — but don't confirm yet.
2. Verify the odds haven't moved. Right before confirming, double-check that the odds on both slips still match what you calculated with. If either side has shifted, re-run the math or abandon the arb.
3. Confirm the less liquid side first. If one sportsbook is more likely to move its line or reject your bet, place that leg first. If it goes through, immediately confirm the other side. If the first leg is rejected, you've avoided being left with a one-sided position.
4. Confirm the second leg immediately. Don't pause, don't second-guess. Place it.

What If the Odds Change Between Placements?

This is the primary execution risk in arb betting. If you place leg one and the odds shift before you can place leg two:

• Small shift: You may still have an arb, just with a reduced margin. Re-calculate quickly.
• Large shift: The arb is gone. You're left with a one-sided bet. This is called "getting middled" or "legging in." Depending on the situation, you can either let the single bet ride or hedge at the new (worse) odds to limit your exposure.

The best defense is speed. Practice your execution flow before putting real money at risk.

Common Pitfalls and How to Avoid Them

Betting on the Wrong Market

A "Bucks −3.5" spread at DraftKings is not the same bet as a "Bucks moneyline" at BetMGM. Verify you're betting on the exact same market, period, and conditions at both books. Pay special attention to overtime rules — some prop markets exclude overtime at certain sportsbooks.

Ignoring Free Bet Conversions

Many sportsbooks offer sign-up bonuses and free bets. Arbing is one of the most efficient ways to convert free bets into withdrawable cash at a 70–80% conversion rate. When you have a free bet, the stake calculation changes because you don't get the free bet stake back on a win.

Over-Concentrating at One Book

If you consistently place the "sharp" side of arbs at one sportsbook, that book will notice and limit you faster. Spread your activity. Sometimes it's worth taking a slightly smaller arb to rotate which book gets which side.

Tips for Avoiding Sportsbook Limits

Sportsbook limits are the biggest long-term threat to an arb bettor's profitability. Some strategies to extend your account life:

• Round your stakes. Betting $421.66 screams "arber." Bet $420 or $425 instead — the tiny margin reduction is worth the camouflage.
• Bet on popular markets occasionally. Place some straight bets on Sunday NFL games or primetime NBA matchups. This makes your account look recreational.
• Don't always max out. Even if the arb calculator says to bet $500, sometimes betting $300 keeps you under the radar.
• Use multiple devices and IPs responsibly. Some bettors keep separate devices for each book to stay organized, but don't try to circumvent any sportsbook terms of service.

Bankroll Considerations for Arb Betting

Unlike +EV betting, arb betting has essentially zero variance — your profit is locked in before the game starts. This changes how you think about bankroll management:

• You can deploy a higher percentage of your bankroll per trade since there's no risk of loss (assuming clean execution).
• Liquidity management matters more than sizing. The bottleneck is usually having funds available at the right sportsbooks, not the size of any single bet.
• Track your balances across all books. Use a spreadsheet or WagerWiz's tracking features to know exactly how much you have available at each sportsbook at any time.

Using WagerWiz's Arb Tool

WagerWiz's arbitrage scanner eliminates the manual grind:

1. Open the Arb Scanner and filter by sport, league, or minimum profit percentage.
2. Click any opportunity to see the full breakdown — which books, which sides, the odds, and the guaranteed return.
3. Enter your total stake and the built-in calculator instantly shows how much to place at each sportsbook.
4. Place your bets and log the trade.

The scanner refreshes in real time, so you see opportunities the moment they appear — and you'll know instantly when they disappear.

FAQ

How many arb opportunities are there per day?

It varies by sport and season. During peak NFL or NBA periods, you might see 20–50+ arb opportunities per day across all markets. Player props and less mainstream sports like tennis or MLS tend to produce arbs more frequently because sportsbooks price them with wider margins.

What's a realistic monthly return from arb betting?

With a well-funded set of sportsbook accounts and consistent execution, arbers typically earn 5–15% monthly return on deployed capital. The limiting factor is usually sportsbook limits and the speed at which you can recycle funds between books, not the availability of opportunities.

Can I arb bet on my phone?

Absolutely. Most arbers use a combination of a laptop and a phone — one device per sportsbook — to place both sides as quickly as possible. All major US sportsbooks (DraftKings, FanDuel, BetMGM, Caesars) have fully functional mobile apps.

What happens if one sportsbook voids my bet?

If one leg of your arb gets voided (due to a palpable error, event cancellation, or rule technicality) and the other leg stands, you're left with a one-sided bet. This is a known risk. To mitigate it, avoid arbs that depend on suspiciously off-market odds (likely palps) and read each sportsbook's house rules for the specific market you're betting.

Should I start with arb betting or +EV betting?

Arb betting is more beginner-friendly because it eliminates variance — every properly executed trade is profitable. +EV betting has higher long-term expected returns but requires a tolerance for losing streaks. Many bettors start with arbs to build their bankroll, then transition to +EV betting as they grow more comfortable with the math and the process.