Betting on all outcomes is when you back both opposing teams in a game, guaranteeing a payout in each match. Of course, bettors are questioning whether this method is profitable. Most are asking if this is legal.
To answer these questions, we take a closer look at arbitrage betting, or the betting method on all outcomes, to know whether this is illegal and worth doing.
Betting On All Outcomes In Sportsbooks
Generally, wagering for both outcomes to occur through the traditional method or done within a US sports betting site is not financially sound. Your winnings for covering both teams tend to be lower than the stakes for both bets. Betting for all outcomes in online sportsbooks will frequently make you lose money.
The arbing method involves placing a back bet on your favorite US or UK sportsbook and a lay bet on an exchange site. Sportsbooks have fixed odds for their markets, which comes from bookies who run the platform. Fixed odds are why betting on all outcomes will leave you broke.
Betting exchanges operate differently, where operators do not determine the prices for sports markets. Instead, the odds come from other bettors or yourself. These odds allow you to “lay” a bet on the outcome you wagered on an online sportsbook and make a profit.
The principle behind sports betting arbitrage is to get guaranteed money gains from the wins of either your back or lay bets. Your winnings must be more than enough to cover the losses of one bet, where you will get at least a 2% gain.
Let us take an NBA sports odds with the Celtics having 2.40 or +140 to win the game. At a betting exchange, the odds of them losing that night is at 3.10 or +210. You will stake a specific amount on the sports betting and exchange sites to get the same payout. If you bet $100 on the 2.40 odds, your sports bet payout will be $240. In this case, you will need to stake $77.42 on the exchange site bet to get $240 if the Celtics lose.
As the results are precise, you will get $240, no matter the outcome. If you take away the total stake of $177.42 from both sites, your profit will be $62.58. This profit margin means that betting on all outcomes through the back and lay bets on different sites will guarantee a profit in either betting exchanges or sports betting sites.
Another method of betting on all outcomes is using free bets instead of your money, called no-risk matched betting. You will likely get the most profit out of this method, whether your back or lay bet wins since you only paid for one of these wagers.
Is it Illegal To Bet on All Outcomes?
Is arbitrage legal, or can you bet on all outcomes without getting in trouble with the law? As long as sports betting is legal in your area, arbitrage betting is not illegal. This method involves making wagers on different gambling sites. For those still concerned about the law, it is essential to note that no bills or legislation specifically target those who do arbing.
Gambling regulators are not concerned about bettors who make a living from making arbitrage bets or anyone getting rich from sports betting. Instead, they are focusing on criminals taking advantage of gambling sites. These criminals include money launderers and hackers who set up phishing websites.
Can Bookmakers Ban You for Arbitrage Betting?
Bettors should not be worried about the law, but they should be concerned about bookies or sports betting site operators. Operators will limit, suspend, or ban accounts they suspect are doing arbitrage betting. There is nothing worse to an online sportsbook than bettors who are whittling away at their bottom line.
You will likely be asking if it is legal for operators to penalize accounts that are arbing. Unfortunately, there is nothing stated in any legislation that would stop bookies from limiting or banning accounts.
Ways to Bet on All Outcomes Safely
To be clear, bookies only go after accounts that are winning too much or are not making any profits. You can still make arbitrage bets as long as you are doing so with a low profile. One method is to avoid making enormous stakes of $1,000 or more per match. Conservative bets will help you prevent the platform from flagging you.
Another method to keep bookies from noticing you is to make mug bets, which are wagers that are likely to lose. Taking mugs such as underdog wagers will make you look profitable to a bookie and not someone to remove from their platform.
If done correctly through arbitrage betting, betting on all outcomes will guarantee a profit for nearly any match. However, keeping a low profile and taking losing wagers is essential when you want to make arbers consistently.
This article was published on August 14, 2022, and last updated on August 13, 2022.