Yes, you can effectively bet on both teams (or all possible outcomes) to win in a sports event, but it's achieved through a specialized strategy called arbitrage betting, rather than placing a single bet on both sides with one bookmaker.
Understanding Arbitrage Betting
Arbitrage betting, often referred to as "arbing," is a strategic approach that involves placing bets on different outcomes of a single sports event with different bookmakers. The primary goal is to exploit discrepancies in the odds offered by various bookmakers, thereby guaranteeing a profit regardless of the event's final result. This strategy allows you to cover all possibilities, ensuring a return on your total stake.
Unlike traditional betting where you pick a single winner, arbitrage betting ensures that you win one of your placed bets, and the odds are structured such that your winnings from that single outcome exceed your total outlay across all placed bets.
How it Differs from Standard Betting
- Standard Betting: You place a bet on a specific outcome (e.g., Team A wins). Your profit depends entirely on that outcome occurring.
- Arbitrage Betting: You place multiple bets across different bookmakers to cover all possible outcomes (e.g., Team A wins, Team B wins, or a draw if applicable). Your profit is guaranteed, regardless of which outcome occurs.
How Arbitrage Betting Works
The core of arbitrage betting lies in identifying situations where bookmakers offer significantly different odds for the same event. These discrepancies can arise due to various factors, such as differing opinions on team strength, rapid market changes, or bookmakers attempting to balance their books.
Key Steps to Executing an Arb Bet:
- Identify Discrepancies: The first step is to find a sports event where different bookmakers have odds that, when combined, create a profitable margin. For instance, Bookmaker A might offer very high odds for Team X to win, while Bookmaker B offers very high odds for Team Y to win (or the draw).
- Calculate Stakes: Once an opportunity is found, you must precisely calculate the amount of money to bet on each outcome with each specific bookmaker. This calculation ensures that your winnings from any single outcome will cover your total investment and yield a profit.
- Place Bets Quickly: Odds in sports betting markets are highly volatile. It is crucial to place all necessary bets across the different bookmakers as quickly as possible before any of the favorable odds change, which could eliminate the arbitrage opportunity or even result in a loss.
Example Scenario (Two-Way Match - e.g., Basketball):
Consider a basketball game between Team A and Team B, where there are only two outcomes (one team wins).
| Bookmaker | Odds for Team A to Win | Odds for Team B to Win |
|---|---|---|
| Bookie 1 | 2.05 | 1.80 |
| Bookie 2 | 1.75 | 2.15 |
In this scenario, you might identify an arbitrage opportunity by betting on Team A with Bookie 1 (odds 2.05) and Team B with Bookie 2 (odds 2.15).
- Simplified Calculation for a $1000 Total Stake:
- To guarantee a profit, you would bet approximately $512.20 on Team A at 2.05 (Bookie 1), yielding a potential return of $1050.
- You would then bet approximately $487.80 on Team B at 2.15 (Bookie 2), yielding a potential return of $1049.70.
- Your total outlay is $512.20 + $487.80 = $1000.
- Your guaranteed return would be approximately $1049.70 - $1050 (depending on which team wins).
- This results in a guaranteed profit of around $49.70 - $50 regardless of which team wins.
This example illustrates how, by distributing your bets across different bookmakers, you effectively bet on "both teams to win" to secure a positive return.
Practical Considerations and Challenges
While arbitrage betting offers the allure of guaranteed profits, it is not without its difficulties and risks:
- Scarcity of Opportunities: True arbitrage opportunities are rare and often short-lived. They require constant vigilance and quick action.
- Speed and Accuracy: Odds can change in seconds. You need to be incredibly fast and precise in placing your bets to capitalize on an arb. A slight delay can make the opportunity disappear or turn it into a losing proposition.
- Account Limitations and Restrictions: Bookmakers generally do not favor arbitrage bettors. Identifying "arbers" can lead to reduced betting limits, account restrictions, or even account closure.
- Bookmaker Rules Discrepancies: Different bookmakers may have slightly different rules for event settlement (e.g., how they handle a player retirement in tennis, or an overtime result). These differences can invalidate an arb if not carefully considered.
- Small Profit Margins: Most arbitrage opportunities yield relatively small profit percentages (often 1-5%). A substantial bankroll is often required to generate meaningful returns.
Tools and Resources for Arbitrage Betting
Successful arbitrage bettors often utilize specialized tools and strategies to navigate these challenges:
- Arbitrage Scanners/Software: These programs constantly monitor odds from hundreds of bookmakers, alerting users to real-time arbitrage opportunities.
- Multiple Betting Accounts: Having accounts with a wide array of online bookmakers is essential to maximize the chances of finding and executing arbs.
- Efficient Bankroll Management: Given the small profit margins and the need to place multiple bets, effective management of a sufficient bankroll across various accounts is critical.
For further reading on the underlying financial principle, you can learn more about arbitrage on Investopedia.
In conclusion, while you can't place a single bet slip that states both teams will win, the strategy of arbitrage betting allows you to strategically cover all outcomes across various bookmakers to ensure a profit, effectively betting on "both teams" in a way that guarantees a positive return.
