Advice

Sports Arbitrage – How many bookie accounts do I really need?

(Last Updated On: September 7, 2010)

Guest post written by Brian from U Can’t Lose

Many people are put off arbing by the number of bookie accounts needed to make the best profit possible. They fear it will be an admin nightmare and they will lose track of what bets have been placed, pending withdrawals, account details etc…

This really is not a problem. A simple spreadsheet can easily be used to keep track of all your bet and account details.

I feel the best way to cover this topic is to share with you the advice we give to new UCantLose customers.

We currently use 39 bookies to ensure we get the very best odds possible. You do not have to join all the bookies if you don’t want to but the more you join the better the selection of odds you will get, which generally leads to larger profit. All the bookies we use are 100% reputable and we have been using them for over 5 years with no problems.

Any charges you may incur from withdrawals will be covered as most bookies offer very generous sign up bonuses and / or monthly recharge bonuses but UK bookmakers seldom make charges so we try to use them whenever possible. You can see a full list of the bookies I use at http://www.ucantlose.co.uk/html/bookiecode.html

It is often though that you need to maintain a balance in each bookmakers account that you have and while that may be ideal, you do not need to. You can simply make an instant deposit when you need to use them for an arb.

Capital Management for Arbitrage

Your starting bank is a very personal choice based on how much you are looking to make from arbs and how much capital you currently have available. If you are looking to bet £1,000 on every arb sent by a standard arb alert service you would need a starting bank of approximately £10,000.

While it is best to have the bank available cash, this is not always possible. Personally, when I bet on arbs I use four Visa credit cards*. I simply make a deposit to the bookies as and when I need to use them, wait for the event to finish and then get the winnings paid back to the same card. I never use any of my own money, it’s all off credit cards and then back on before I have to pay any interest.

I use card 1 for a couple of arbs, get the winnings paid back to card 1 and then start using card 2. Once card 2 has been used for a few arbs I request the winnings again and start using card 3. Once card 3 has been used for a few arbs I request the winnings again and start using card 4. Once card 4 has been used for a few arbs I request the winnings again and start using card 1 again (which is now clear because the winnings have been paid back onto it).

To use this method you need to ensure that your credit card provider does not make charges for gambling related transactions and change if they do. Alternatively, if you do have enough capital, you could use a debit card and avoid all charges.

I would also recommend that you open a NETELLER account so you can quickly deposit to the few bookies who do not accept Visa credit cards. Visit http://www.ucantlose.co.uk/10.php to open a NETELLER account and claim a 10% bonus.

If you have any specific bookie related questions please leave a comment and I will do my best to answer them for you.

Please don’t be shy! If there is a topic you would like me to cover next month let me know.

Brian Edwards has been making profitable arbs for many years now. His website U Can’t Lose provides an Arbitrage Sports Betting and Trading Service that has been designed to provide arbitrage opportunities to newcomers to the world of arbing, teaching you how to build up a bankroll using a stress-free and low risk method.

*The Race Advisor does not condone betting with money that you do not have and cannot afford to lose. If you think you have a gambling problem please visit www.gambleaware.co.uk

Michael Wilding

Michael started the Race Advisor in 2009 to help bettors become long-term profitable. After writing hundreds of articles I started to build software that contained my personal ratings. The Race Advisor has more factors for UK horse racing than any other site, and we pride ourselves on creating tools and strategies that are unique, and allow you to make a long-term profit without the need for tipsters. You can also check out my personal blog or my personal Instagram account.

3 Comments

  1. You have failed to point out however,one critical piece of information. Online betting sites will close or limit your account very quickly when you continually beat the SP thus rendering online “arbing” effectively impossible for any meaningful period of time.

    My persoanl record is 6 bets – account limited with William Hill. Bookies don’t like you beating SP. In reality you may be able to do this for a month or two but they will limit you and that is guaranteed.

    Of course, if you are prepared to go to the shops and put your bets on there then fine, but of course you can’t cover 39 shops now can you.

  2. Hi Neil

    Yes, bookies do occasionally limit accounts but this can take quite a while in my experience. In a standard three outcome arb (say 1X2 on football) only one bookie is paying out…while the other two are counting their winnings.

    If you do find your account has been limited you might want to consider asking a good friend or family member to open a new account and allow you access.

    Regards
    Brian

  3. Bookmakers have already been an integral portion of horse racing for ages, and so they perform the part of middlemen. Horse racing in Australia is a superb business enterprise and performs a significant part in Australia’s economic climate.

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