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Help needed with Arbitrage betting!

Ian182 Avatar
9y, 3m agoPosted 9 years, 3 months ago
I have just started to do arbitrage betting with a spaer £100 that i had in my account. I have done 2 so far which has more than doubled my initial £100.

I have one concern however. Both of the arbs I have done seem to be with bookmakers that have priced an event incorrectly. If I have placed a bet on such an event at the mistaken odds, can a bookmaker cancel my bet? I know each bookie is different and most T&C's state they can, but does cancelling bets happen very often? Has anyone ever had it happen to them?

Arbitrage betting looks like a brilliant way of making money, but there is a chance that i can lose everything if a bookie cancels one of my bets.

Thanks in advance.
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Ian182 Avatar
9y, 3m agoPosted 9 years, 3 months ago
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#1
Yes, bookmakers can cancel the odds and your bet is void. You've lost out if the void bet was a winner, so you win nothing from the bet and you pay out at the exchange.
#2
mug51
Yes, bookmakers can cancel the odds and your bet is void. You've lost out if the void bet was a winner, so you win nothing from the bet and you pay out at the exchange.


Yea, thats what I thought. I just wanted to know whether it is common for bets to be cancelled, or whether the bookies normally just take the hit to keep the punter(s) happy.

Put a bet on this morning on an Asian handicap that had odds of 14.85. Bookie has just changed the odds to 2.07 but my bet is still 'open' at the moment!
#3
That bet will definately be palped.

Go to the forums of moneysavingexpert or join rpoints and go to their forums (the bookie forum is not available to guests) - lot's of good advice there.

P.S. Arbing gives a small % return. While you can, go through and collect as many introductionary bonuses as you can. There is thousands to be made doing this. Don't take a small bonus from a bookie that is known to give more on big event days though, ie: William Hill and Ladbrokes give regualr £100 bonuses and up to £200 on big events like cheltenham/Ascot/Goodwood festivals.

You probably already have a lot of these accounts, but there is always more hiding away somewhere. I must have opened over 100 accounts... UK, Irish, European, Australian, Net, phone etc etc.
#4
pubjoe
That bet will definately be palped.


Thats what I thought. Which is why I havent put anything on the other outcomes of the bet yet.

I had one with VC on Sunday which i got at 3.50 and later was corrected to 1.40. They paid out on the 3.50 and I have already withdrawn my winnings!
#5
...Are you sure it wasn't just backed in? Admittedly, that's a HUGE difference though.

I once got a £200 bet on at the end of a race when the winner was almost guaranteed and they paid me out at SP, so I suppose these mistakes happen sometimes. But you obviously can't rely on them for profit.

I'm surpised you've placed 2 arbs and doubled your money!! Like I say, arbs return a small %, you need to put a large capital up to make a moderate amount of money from them. But then I suppose, that little VC bet result paid off. You will inevitably be stung though, backing against price mistakes like this.

Bonuses is where it's at mate, casinos too. Many bookies give re-occuring bonuses, things like "money back if 0-0", A footy match made me £500 with an offer like this a couple of weeks ago - I layed 0-0 at half-time. Mix in a few arbs if you like but you need a large bankroll for that. Build your money up first on the introductionary bonuses.

Have you done Coral yet? [url]www.coral.co.uk/sun50[/url] gives you a £100 balance for a £50 deposit... Bet £50 on any odds and another £50 will pop back in your account. Plus transfer £10 over to their games section with the promo code "CHIP" while your at it, place a £10 bet where you can cover every outcome, ie: £5 on HI and £5 on LOW. lose a guaranteed 25p but gain a free tenner! Transfer back to sport and do your free bet. :)
#6
pubjoe
...Are you sure it wasn't just backed in? Admittedly, that's a HUGE difference though.

I once got a £200 bet on at the end of a race when the winner was almost guaranteed and they paid me out at SP, so I suppose these mistakes happen sometimes. But you obviously can't rely on them for profit.

I'm surpised you've placed 2 arbs and doubled your money!! Like I say, arbs return a small %, you need to put a large capital up to make a moderate amount of money from them. But then I suppose, that little VC bet result paid off. You will inevitably be stung though, backing against price mistakes like this.

Bonuses is where it's at mate, casinos too. Many bookies give re-occuring bonuses, things like "money back if 0-0", A footy match made me £500 with an offer like this a couple of weeks ago - I layed 0-0 at half-time. Mix in a few arbs if you like but you need a large bankroll for that. Build your money up first on the introductionary bonuses.

Have you done Coral yet? [url]www.coral.co.uk/sun50[/url] gives you a £100 balance for a £50 deposit... Bet £50 on any odds and another £50 will pop back in your account. Plus transfer £10 over to their games section with the promo code "CHIP" while your at it, place a £10 bet where you can cover every outcome, ie: £5 on HI and £5 on LOW. lose a guaranteed 25p but gain a free tenner! Transfer back to sport and do your free bet. :)


No, def wasnt backed in. Every other bookie had odds of 1.40ish on this outcome. VC had clearly got the odds for the home and away teams the wrong way round.

I have probably just got lucky to double my money in 2 bets. If it seems too good to be true, it probably is! So maybe i am best to quit while I am ahead.

Hear what you are saying with the bonuses. I have got accounts with pretty much every bookie now (well UK one anyway) so have already had the bonuses.
#7
pubjoe
That bet will definately be palped.


Cant quite believe it myself, but my bet won, and it wasnt cancelled!!!

£407 withdrawn to my neteller account, and on its way to my bank account as we speak!

Really chuffed! Cant believe they paid out!! :-D

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