I figured out it has been long since I have last written about Sports Arbitrage and I wanted to correct that. This week I want to give you some information on getting started with Sports Arbitrage and what are the tools you are going to need. The article will link back to some of my earlier material and give you an overview over the necessary administrative tasks you will need to take care of. Let’s get started.
You will need a computer with good internet connection. A mobile phone or a tablet won’t do the job. You need a desktop computer for quick navigation between your arbing software and the pages of the bookies. That being said, there are people connecting their desktop computers to their mobile phones in order to trick the bookies into thinking that they are playing from mobile, which makes them less suspicious. I personally don’t have the technical knowledge to pull that off but if you know what you are doing, go for it. In any case, your arbs are best placed on a desktop computer.
If you start opening an account after you have found an arb you are already too late. Remember that speed is the key. Therefore you must consider which bookies you are going to use. First and foremost, research their reliability. The fact that a bookie is covered by your arb service is no guarantee. My Recommended section will give you a few bookie review sites, you can start from there.
Having the list ready, set up all your accounts. Make sure to input your data correctly – you will probably need to verify it with an ID later on and any mismatches will lead to additional inconvenience and will slow you down. That being said be prepared for…
When you verify your account bookies will often ask you for an ID to confirm your account data is correct. Sometimes (although less often) they might ask for a utility bill, a bank statement or even give you a call. Have all those documents prepared (utility bills and bank statements must be up-to-date, issued within the last 3 months) and be ready to answer phone calls with questions regarding your account. Record, or better yet, remember all the security questions and answers of your accounts. Usually it is possible to make the verification before you start with your betting activity. Look for this option and use it. This will not only help you save some time in the future but also, and more importantly, you will avoid unwanted attention at a later point when your account has already been active.
Expand your options
If certain sharp bookmakers (most notably Pinnacle) or exchanges are not available in your country, register with a broker. A trusted broker that I would recommend is PremiumTradings. If a certain soft bookmaker you have available is not covered by your sports arbitrage software, find its clone and mark it in the software. Brokers and clone tables will greatly expand the total number of bookies you have at your disposal.
Have your funds ready
Verify and fund your e-wallet of choice and your broker accounts. You will use the e-wallet money to deposit to and withdrawal from your bookmaker accounts. E-wallets are the preferred payment solution for arbers as they are the fastest and the cheapest ones. Having your funds in your verified e-wallet account and your bookmaker accounts ready, you will be able to deposit in a matter of seconds. I have found out the best starting capital to be in the range of 5-10k EUR/GBP/AUD, but of course that depends on your financial situation. You can get started with less and bag some bonuses to grow your bank, however it is possible that this will reduce the life of some of your accounts.
If you just don’t have the capital to get started, don’t give up just yet. There are ways to grow your bank from zero, which might be a bit tiresome but will give you a chance to work your way to Sports Arbitrage. Just give a try to matched betting, where you make use of bookies’ promotions in order to accumulate your starting capital. Get started by reading the Punter2Pro article on matched betting, one of the most comprehensive resources on the topic.
Get the arbs delivered to your door
Sign up for a Sports Arbitrage software. The highest quality product on the market and my personal choice is RebelBetting. Set it up with all the bookmakers you will use and get it running. Make sure this is your last step. You will want to make the most out of your subscription so you’d rather not waste time with administrative tasks while the fees are running.
Many people recommend to start with some paper trading or small bets. If you don’t feel confident about the whole thing that is an option but honestly not one I have gone for. Arbitrage is a fairly simple activity. There are some little traps but you will learn them best by doing. And unfortunately, losing 10 cents will never give you the same learning experience as losing a hundred bucks, so take for granted that you will make some mistakes along the road. That is normal, but if you want to get good it is better to start sooner than later. If you want to start with paper training though don’t do it for too long and always think about moving to the real thing. At least that is what I did and I don’t regret it.
Once you are up and running, make sure to stay under the radar by following some essential rules I have already laid out.
I hope the article will give you a kick start in sports arbitrage betting. In fact I am currently working on a complete pdf Sports Arbitrage Guide where I intend to cover everything relevant to this betting strategy. It is a broad topic so it will take some time, but I hope to have it ready in the next couple of weeks. It will also be totally free, so don’t forget to follow me on Twitter, Facebook and Google+ to be among the first notified about it. Until then, if you have any questions let me know in the comments or drop me an email under firstname.lastname@example.org. And best of luck in your arbing adventure.