It seems the only way you can make money in betting is by arbitrage sports betting. Unfortunately, i don’t think you can arb in Kenya as i cannot seem to get any arbitrage opportunities in kenya betting sites. However, on overseas betting sites, there are hundreds of arbs daily, as ive come to learn through my research. There’re softwares, like rebel betting, that help you out in getting arbs.
Im also researching on how to make money on the betfair exchange.
Im looking for like-minded individuals who we can share notes on how we can go about this.
Bookmakers normally balance their books to make sure they do not loose or to limit their loss and thats how arbitrage opportunities exists. Say for example in a particular bet a lot of people bet on one outcome in expense of the other, the book maker could reduce or increase the odd in their favour so that to encourage other people to bet the other way.
This is where now arbitrage betting comes in handy. There are softwares that notifies you when these opportunities arises so that you may place.
But what about you make a crazy bet with odds mad astronomical but it still happens? Does the company go under or how does it cover the bet? e.g that guy who last season placed a bet that Leicester would will the league. Suppose he had bet £1000 instead of whatever he put down.
I’ve tried arbing but I figured out it’s not sustainable in the long run…sooner or later your account will be limited it’s hard to outsmart the bookies
Walai si ujinga niko na kienyeji kwa nyumba saa hii…lakini imenilalia miguu as I work on a project hapa…
Nilikuwa nafanya arbitrage but my bank was small so I had to move on to something easier. Trading horses on betfair. That is a story for another day. Lakini arbitrage you need a significant bank kama 1,000-3,000 dollars so you can make a good profit. You want to be making about three or four bets a day and not lock in your money in one bet hence the larege bank.
I would advice on using betfair to lay bets when arbing. I love betfair. Recently niliingiza mshahara ya last month over 80k…but don’t think about the money, think about growing your bank.
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Now you are talking… Im researching about how you lay on betfair but haven’t really cracked it yet. I need some training. Ama you have somewhere you can refer me to get materials? I really want to get into this.