FAQ

The pari-mutuel system (from the French pari mutuel, meaning "mutual betting") is a betting system where all bets placed are pooled together, and the payouts to winners are distributed from this pool after deducting the organizer's commission.

Key Features of the Pari-Mutuel System:

1. Common Betting Pool:

   • All bets placed by bettors on a specific event are combined into a single pool.
   • Money from the pool is then distributed among the winners proportionally to their stakes.

2. No Fixed Odds:

   • Unlike traditional bookmaker betting, the odds are not fixed in advance.
   • Odds are dynamically calculated based on the total amount bet and its distribution across outcomes.

3. Commission Deduction:

   • The organizer (e.g., a racetrack) deducts a percentage from the total pool as a commission (usually between 10% and 20%).
   • The remaining pool is divided among the winning bettors.

4. Dynamic Payouts:

   • The payout depends on how much money was bet on the winning outcome.
   • If a large amount of money is bet on the winning outcome, the payout per unit bet is lower, and vice versa.

Example of How the System Works:

• Let’s assume the total betting pool is €10 000.
• The organizer deducts a 10% commission, leaving €9 000 in the pool.
• Bettors placed the following bets:
  • €5 000 on Horse A,
  • €3 000 on Horse B,
  • €2 000 on Horse C.
• If Horse C wins, the payouts are distributed among the bettors who bet on it:
  • Total remaining pool: €9 000.
  • Amount bet on Horse C: €2 000.
  • Winning odds: €9 000 / €2 000 = 4.5.
  • A bettor who placed bet €100 on Horse C would receive: €100 × 4.5 = €450.

Advantages of the Pari-Mutuel System:

• No Risk for the Organizer: The organizer only collects a commission.
• Fair Distribution: Winnings are distributed based on actual bettors demand.

Where It’s Used:

• Most commonly in horse racing and greyhound racing.
• Sometimes applied to sports betting and lotteries.

This system is less popular for traditional sports betting, where fixed odds are preferred, but it remains relevant in gambling involving animal competitions.

Prop bets (short for Proposition bets) are a type of wager where the bettor predicts specific events that are not directly related to the final outcome of a match. These bets cover unusual and often entertaining aspects of sports (or even non-sports) events. Prop bets are popular among both casual bettors and professionals, as they add excitement and variety to the betting experience.

Examples of prop bets

Sports:

• Who will score the first goal?
• Will there be a penalty in the match?
• What will be the exact number of corner kicks?
• How many points will a specific player score?

Entertainment events:

• What color will the performer’s outfit be at the ceremony?
• Will a specific word be mentioned in the Oscar winner’s speech?

Special cases:

• Will the coin toss land heads or tails at the Super Bowl?
• How long will it take to perform the national anthem?

Characteristics of prop bets

Uniqueness:

They allow predictions on events that are usually not the focus of standard bets (e.g., 1X2 or totals).

Variety:

Prop bets offer the chance to experiment with unconventional predictions, adding fun to the process.

High risks and rewards:

Odds for prop bets are often high due to the difficulty of predicting such events.

Advantages and disadvantages

Advantages:

• Excitement and entertainment:
  They make watching events more engaging.
• Variety:
  You can bet not only on the game result but also on unusual aspects.
• High odds:
  Successful prop bets can yield significant profits.

Disadvantages:

• Prediction difficulty:
  These bets are often random or chaotic in nature.
• Limited analysis:
  It’s hard to find statistics or data for predicting most prop bets.
• Risk of losing money:
  Beginners might get carried away and lose money on overly risky bets.

Who are prop bets for?

Prop bets are most often chosen by:

• Casual bettors looking for more entertainment than serious profit.
• Professionals seeking high odds and unexpected opportunities.
• Fans who want to add excitement to watching sports events.

Gubbing  is a term used in the world of betting to describe the restriction or blocking of an account by a bookmaker due to suspicion of using arbitrage betting (arbing), bonus hunting, or other strategies considered unfair or undesirable by the bookmaker.

What gubbing involves:

1. Reduction of betting limits:
   • The bookmaker restricts the maximum amount a user can bet. For example, instead of 1000 euro, the user might only be allowed to bet 1 euro.
2. Blocking bonuses:
   • The user loses the ability to participate in promotions, receive free bets, or other bonuses.
3. Withdrawal restrictions:
   • The bookmaker may delay the withdrawal process by requesting additional documents for verification.
4. Account closure:
   • In extreme cases, the bookmaker may completely block the user's account.

Reasons for gubbing:

1. Arbitrage betting:
   • If a user places bets on opposite outcomes at different bookmakers to guarantee a profit.
2. Bonus hunting:
   • Taking advantage of bonuses without regular bets using real money.
3. Consistent winnings:
   • If a user consistently wins, it may attract the attention of the bookmaker's security team.
4. Suspicious behavior:
   • For example, frequent large bets, unusual betting patterns, or the use of bots.

Determining the exact number of people worldwide who earn money from sports betting is challenging due to the lack of official statistics and the diversity of approaches to betting. However, it is known that professional bettors who generate consistent income from betting are extremely rare. Estimates suggest that only about 2-3% of bettors reach a level that allows them to earn from betting on a regular basis.

Success in this field implies having knowledge that gives you an edge over bookmakers.

Typically, this is related to bookmakers making mistakes when setting the actual odds or correct betting lines.

However, the more people start earning from such mistakes, the faster bookmakers notice and fix these issues.

Therefore, the only way to maintain profitability in the long run is to remain inconspicuous if you have an effective strategy.

Pre-match arbs are arbitrage opportunities that arise before a sporting event begins, meaning at the stage when bookmakers set their odds in advance, and the game has not yet started. Unlike live arbs, which occur during an event and require a quick reaction, pre-match arbs allow players to place bets with more time to spare.

How Do Pre-Match Arbs Work?

Pre-match arbs occur when different bookmakers offer varying odds on the outcomes of the same sporting event. These discrepancies arise for several reasons, such as differing analyses of the event, incorrectly set odds, or the bookmaker's attempt to balance their risks.

Example: If one bookmaker offers odds of 2.10 on team A winning, and another bookmaker offers odds of 2.05 on team B winning, a player can bet on both teams with different bookmakers and guarantee a profit regardless of the match outcome.

Advantages and Disadvantages of Pre-Match Arbs

Advantages:

• More time for analysis: Pre-match arbs allow players to assess bets and allocate their budget more thoroughly, reducing the likelihood of errors.
• Stability of odds: Since the event has not yet started, odds change less frequently than in live betting, making the betting process more predictable.
• Accessibility for beginners: Pre-match arbs are easier for beginners as they don’t require instant reaction.

Disadvantages:

• Sanctions from bookmakers are quicker and more frequent: Since pre-match arbs are visible in advance, bookmakers may monitor arbitrage players and impose restrictions on their accounts.
• Risk of odds changes: If odds change after placing one of the bets, the arb may disappear, and the player may lose part of their funds. In this article, we explained how to minimize the risk of such a situation.

Overall, pre-match arbs are suitable for players who want to earn stable profits without the rush and pressure typical of live betting.

A soft bookmaker is a betting company aimed at a broad audience of amateur bettors, aiming to provide more flexible and "user-friendly" betting conditions, especially for beginners. Unlike "sharp" bookmakers, soft bookmakers generally do not welcome professional arbitrage bettors.

Main Characteristics of Soft Bookmakers

• Attractive Bonuses and Promotions: They often offer lucrative bonuses, promotions, and free bets to attract a large, general audience.

• Broad Selection for Popular Events: Soft bookmakers usually offer a wider range of betting options on popular sports and major events.

• Relatively Lower Odds: Soft bookmakers tend to have lower odds compared to professional bookmakers. This approach allows them to minimize risks by attracting a high volume of casual bettors rather than relying on precise calculations.

• Slower Odds Adjustment: Odds at soft bookmakers are not updated as quickly as at sharp bookmakers.

A sharp bookmaker, on the other hand, is a betting company aimed at professional bettors.

Main Characteristics of Sharp Bookmakers

• Accurate and Higher Odds: Sharp bookmakers often provide more competitive odds on sports events due to their advanced analysis and prediction systems. This appeals to experienced bettors who value high odds.

• Minimal or No Bonuses and Promotions: Such bookmakers rarely offer bonuses or promotions to attract casual bettors, as their target audience consists of experienced bettors betting for the efficiency of high odds rather than promotional incentives.

• Quick Reaction to Odds Changes: Sharp bookmakers swiftly adjust odds in response to changes in probabilities, helping them avoid significant losses in fast-moving markets.

• High Bet Limits: Unlike soft bookmakers, sharp bookmakers often allow high-stakes bets on sports events, as their primary audience is professional bettors with high betting volumes.

In general, soft bookmakers are better suited for casual bettors who value simplicity and accessibility in betting rather than high odds or professional opportunities for profit. Conversely, sharp bookmakers are attractive to experienced bettors and those knowledgeable in professional betting.

Negative middles in betting are a strategy where a bettor bets on opposing outcomes of a single event, with a scenario where both bets may win simultaneously under certain conditions. Generally, these middles imply that both outcomes cover different possibilities in the same event, but the odds do not fully cover each other. When the event outcome falls into the middle, both bets are successful.

Example of a Negative Middle

Imagine a football match where you have two possible bets on the total goals:

• Total over 2.5 goals with odds of 2.0

• Total under 3.5 goals with odds of 1.8

For example, your betting budget is 100 dollars. You place 50 dollars on the first bet with odds of 2.0 and 50 dollars on the second bet with odds of 1.8.

Possible bet outcomes after the match:

• If exactly 3 goals are scored, both bets win, and you receive a payout on both: 2.0×50+1.8×50 =175 dollars.
• If 4, 5, or more goals are scored, only the first bet wins with a payout of 2.0×50 = 100 dollars. The second bet loses, resulting in a net outcome of 0 dollars.
• If 0, 1, or 2 goals are scored, only the second bet wins with a payout of 1.8×50 = 75 dollars. The first bet loses, the overall result is negative -25 dollars (hence the name negative middle)/

Features and Risks

• Potential Profit: If the event outcome falls into the "middle" (in this example, exactly 3 goals), both bets win, resulting in increased profit.
• Risk of Loss: Unlike surebets, where any combination of outcomes results in a profit, some outcomes in negative middles can be unprofitable.

The "Both Teams to Score" bet, often abbreviated as "BTTS," is a popular betting market, especially in football. This type of bet predicts that both teams in a match will score at least one goal each, regardless of the final outcome. The bet offers two options — "Yes" and "No." If you choose "Yes," you are betting that both teams will score. On the other hand, selecting "No" means you expect that at least one of the teams will fail to score, or neither team will score at all.

Key Features of the "Both Teams to Score" Bet

1. Simplicity and Clarity: BTTS is one of the simplest types of bets as it doesn’t require predicting the match winner but only focuses on whether both teams will score or not.
2. Exclusivity to Football: The BTTS market is almost exclusive to football and is included in nearly every bookmaker’s lineup. These bets generally come with attractive odds due to their straightforward nature. For bookmakers, this market provides good margins, while it offers fewer opportunities for arbitrage bettors.
3. Easy to Understand: The straightforward nature of the BTTS bet makes it popular with beginners, as understanding the outcome is easy without deep technical analysis.
4. Potential for Quick Wins: A "Yes" outcome on BTTS can be confirmed relatively quickly in a game — after all, a goal only takes a moment to score. As a result, these bets are often popular in weekend "combo" bets. Conversely, bets on "Both Teams to Score — No" may need to be held until the final moments of the game.
5. In-Play BTTS Betting: Live BTTS bets are open until the last few minutes of a match if one team has yet to score, making them suitable for live betting strategies.
6. Settlement Terms: BTTS bets are settled only based on the regular 90 minutes of play, excluding any extra time.

The registration and verification process is undoubtedly an important part of working with arbitrage betting ("surebets"). However, people who engage in arbitrage are usually already familiar with betting, have opened accounts with bookmakers, and so on.

Which rules often differ across various bookmakers? What should you pay attention to in order to avoid losing on a surebet?

Bonus Credit and Withdrawal Rules

Many bookmakers offer bonuses to new users: welcome bonuses for registration or the first deposit. However, it is important to understand that bonuses often come with strict wagering requirements. For example, in order to withdraw bonus funds, you may be required to wager an amount equal to six times the deposit. Alternatively, there may be other actions required, often with time limitations. It’s crucial to carefully study these conditions to avoid finding yourself in a situation where the bonus is difficult to withdraw or not profitable.

You should also pay attention to the validity period of the bonuses and possible restrictions on betting on specific types of sports or events.

Deposit and Withdrawal Rules

Depositing funds generally does not cause problems. The only issues you might encounter are minimum and maximum deposit limits.

One of the most important rules to carefully examine is the conditions for withdrawing funds. Some bookmakers set minimum withdrawal amounts, restrict the use of certain payment systems, or have specific processing times for withdrawal requests. While some bookmakers process withdrawals within a few minutes, others may take several days. You also need to account for possible withdrawal fees or other hidden charges.

Bet Cancellation Policy

Bookmakers reserve the right to cancel bets under certain circumstances. For example, if it is determined that a match was fixed or there were technical errors in calculating the odds. It’s important to closely study the rules that allow a bookmaker to cancel bets so that you’re prepared for such situations. Typically, canceled bets are refunded with odds of 1.0, meaning the bettor only gets back the amount they originally wagered. While an ordinary bettor doesn’t lose money directly, in arbitrage betting, if one part of the surebet is settled with odds of 1.0 and the other part of the bet loses, this results in a net loss.

Bet Settlement Rules

Each bookmaker sets its own rules for settling bets, particularly in unusual circumstances. For instance, there may be differences in how bookmakers handle bets on events that have been postponed or interrupted. Some bookmakers cancel such bets immediately, while others keep the bets active and wait for the match to resume—sometimes up to 24 hours, or even 48 hours. This can be problematic if these bets are part of a surebet. Incidentally, many arbitrage betting scanners offer filters that allow you to choose bookmakers with matching bet settlement rules.

Betting Limits and Restrictions

Some bookmakers set limits on the amount you can bet. These can include both minimum and maximum bet amounts, especially for surebettors who win large sums. Bookmakers may lower the limits for successful bettors, reducing their ability to place large bets. It’s possible that one bookmaker has already reduced your limits, while another has not, and this restriction could be applied just seconds before you place a bet. Therefore, before placing a surebet, it’s important to check the available limits for all your bets.

Conclusion

Studying bookmaker rules is just as crucial a step in arbitrage betting as any other. We hope that our recommendations help you avoid financial losses and unpleasant surprises.

Traditionally, experienced bettors recommend focusing on the following markets when searching for value bets (overpriced odds):

• Asian Handicap/Point Spread
• Totals Markets (Over/Under)
• 1X2 Markets (Match Winner)
• Double Chance
• Both Teams to Score

Why These Markets?

1. Liquidity Allows for Larger Bets: Liquidity is crucial as it ensures that you can place significant amounts without heavily impacting the odds. On markets with high liquidity, your bets do not drastically shift the odds, allowing you to maintain your advantage. In contrast, on less popular markets or events, even a small $100 bet could significantly alter the odds, potentially eliminating the value.

2. Wide Range of Odds: These markets typically offer a broad spectrum of odds, which allows you to select those that suit your betting strategy, whether you prefer lower or higher odds. When placing value bets, having a wide variety of odds to choose from is always beneficial.

3. Analytical Methods: Effective methods of analysis exist for these markets, enabling bettors to identify value opportunities. For instance, analyzing match statistics, goals, or points can provide insights into the probability of certain outcomes. Popular analytical methods include Poisson distribution and expected goals (xG) models, which have become valuable tools for assessing bets. If you're not inclined to spend significant time calculating value bets, there are automated services that do this for you.