Betting on both sides HACK (free money)

[AndersonStreet]

well the odds have changed by now.. but this offer was up for crabs yesterday for few hours

 

[Officer_Brown]

Lmfao! grabs* i meant.

 

[fractal]

What kind of relation would there need to be between the odds to make sure this works?
The only constant is the 100 that you bet on the underdog, right?

EDIT: Pretty simple: ABS[underdog] > ABS[favourite]
Or as Pacemaker said, their sum has to be positive. Much simpler.

 

[Pacemaker Joe]

What kind of relation would there need to be between the odds to make sure this works?
The only constant is the 100 that you bet on the underdog, right?

When you add the 2 numbers together, the sum has to be positive. 100/100 would be a wash, obviously.

 

[fractal]

When you add the 2 numbers together, the sum has to be positive.

True. I was thinking more convoluted, but this is simpler. Ooh now I've got a new project.

 

[fractal]

Is there a term for odds like this? Because I'm sure someone's already made some program to data mine such occurrences.

 

[Blanqa Blanqua]

No just when someone is bullshyting away its like stfu you moron. What site on earth lets you bet on a draw in MMA and not talking about prop bet. SMH

Sounds serious.

I'ma just stay out of it.

 

[Davemeddlehed]

I don't understand that. If the fight doesn't go the way you predicted then you lose. Unless there is some money back guarantee with the sites you guys are using?

There is no money back guarantee. No online book I've ever seen, used, or heard of, has ever marked a fight that was bet on straight for a moneyline that ended in a draw as a loss. It's a push.

The reasoning is that while the outcome you bet on didn't happen, the opposite outcome also didn't happen. How can the bet be a loss when neither fighter won? A draw is the same as a no contest as far as moneyline betting is concerned.

 

[GraveyardFilla]

Is there a term for odds like this? Because I'm sure someone's already made some program to data mine such occurrences.

Arbitrage

 

[Davemeddlehed]

You think op is the first person to think of this? Every gambler has thought about this at one time or another.

If the betting site finds out they will take it all from you

It isn't illegal, no more than online sportsbetting already is anyway. It's frowned upon, but online books don't exactly keep in touch that way. Not only is it common practice for people to bet both sides of a line on different books, it's actually a preached strategy at times. It's so common that it has a name. Hedging/arbitrate.

Whenever you hear or read someone talking about "hedging/arbing your bet" this is what they're referring to.

 

[fractal]

It isn't illegal, no more than online sportsbetting already is anyway. It's frowned upon, but online books don't exactly keep in touch that way. Not only is it common practice for people to bet both sides of a line on different books, it's actually a preached strategy at times. It's so common that it has a name. Hedging/arbitrate.

Whenever you hear or read someone talking about "hedging/arbing your bet" this is what they're referring to.

Thanks. Definitely a new perspective for me. Never considered betting through different bookies before but this looks like a slow but sureshot way to make money.

 

[orwamdaka]

u can do it way better . use this equation :
|P.1 * x - P.2 * y| > 0 (P.1 is the probability of fighter 1 winning P.2 is the probablility of fighter 2(in this case fighter 1 odds on the other betting site)winning the probability of a fighter winning is (the money for each dollar u pay) , x,y the money u are willing to bet for instance put x any number make sure y is in range for that x , look for y that maximize the winning . a couple of mintues and u r done .

just in case u can build a software to find the best "y" for the "x" you chose , u will need basic knowledge of programming . and u can use that method for any match\fight or whatever u can enhance the equation to make more profit and find a lot more matches/fights to bet on .

 

[Davemeddlehed]

Thanks. Definitely a new perspective for me. Never considered betting through different bookies before but this looks like a slow but sureshot way to make money.

I personally don't recommend it, unless you have a sizeable bankroll, and access to lines as soon as they break. Otherwise it's a waste of time. Plus your funds will be tied up in two different places. One end will lose, which is why this can't be done with a small roll.

 

[fractal]

I personally don't recommend it, unless you have a sizeable bankroll, and access to lines as soon as they break. Otherwise it's a waste of time. Plus your funds will be tied up in two different places. One end will lose, which is why this can't be done with a small roll.

An article on arbitrage said it can range between 250 - 100k. Of course I am nowhere close to having 100k of free money but I'd say 250 is very little.
What do you consider small and big?

 

[Davemeddlehed]

An article on arbitrage said it can range between 250 - 100k. Of course I am nowhere close to having 100k of free money but I'd say 250 is very little.
What do you consider small and big?

I'd say you need at least $1,000 in each book to make the endeavor worthwhile. Keep in mind that this isn't like having cash in hand.