Most online betting strategies are designed with beginners in mind. When they’re not, they tend to cater to casual bettors looking for straightforward tips. Arbitrage betting is the exception. It’s not nearly as accessible—and for good reason. Arbitrage betting can be complex to grasp and even harder to execute. It’s best suited for those with some experience in sports wagering and the resources to take advantage of the opportunities it presents.

Does that mean arbitrage betting isn’t for you? Not necessarily. Even if you’re new to sports betting, you may find that after working through basic online betting guides, you’re ready to explore a more advanced strategy. This could be that step forward. And don’t worry—this guide will walk you through the process, one step at a time.

How Does Arbitrage Betting Work?

Arbitrage betting goes by many names—sure bets, sports arbitrage, even miracle bets—but the concept is always the same. It involves placing wagers on both sides of a game at different sportsbooks to guarantee a profit regardless of the outcome.

This approach only works in either-or scenarios. For example, if you spot a sure-bet opportunity on the moneyline between the Arizona Cardinals and Denver Broncos, you might back the Cardinals at one sportsbook and the Broncos at another. It doesn’t apply to futures or prop bets, where multiple possible outcomes prevent you from covering every angle.

Even more importantly, arbitrage betting only works when there’s a significant gap in odds between two sportsbooks. Most of the time, oddsmakers are closely aligned in their projections. The numbers might not match exactly, but the differences are usually minimal. To make arbitrage worthwhile, you need to find those rare situations where there’s a true divide in how sportsbooks value the same matchup.

Before we get into how to spot and work these potential opportunities, make sure to check out our list of the top online sportsbooks to use in general:

Arbitrage Betting in Action

The idea of arbitrage betting can be a little complicated to understand. Visualizing the results help. We've come up with a hypothetical moneyline to make it happen:

Outcome 1 Outcome 2
Win By Team A Win By Team B
Sportsbook X Sportsbook Y
-275 +450
Stake: $80 Stake: $20
Total Payout: $109.09 Total Payout: $110
Profit Off This Bet: $39.09 Profit Off This Bet: $90
Total Arbitrage Profit: $9.09 Total Arbitrage Profit: $10

These are very specific numbers, but that's the point of arbitrage betting. You're ideally looking to turn a 10 percent(ish) profit by working both sides of a game line—though in practice, that margin often comes down once you factor in fees, limits, and shifting odds.

In the above example, you should be looking at the combined investment, which is $100: $80 on the favorite and $20 on the underdog. No matter who wins, you would end up making money. Your total profit if the favorite emerges victorious is $9.09—a little over 9 percent. Meanwhile, you're total profit if the underdog wins is $10—exactly 10 percent of your initial investment.

Making 10 percent may seem like small potatoes, but it can add up if you do it enough times. It also makes a huge difference if you're a high roller who's willing to throw more money on each bet. 

When Does Arbitrage Betting Make Sense?

Believe it or not, we've already alluded to this. For the most part, arbitrage betting makes sense under the following circumstances: If there is a large discrepancy between two teams playing one another and between two sportsbooks, and if you're a high roller who wagers so much that a 10 percent or profit amounts to a huge chunk of change.

The first bit of criteria is the most important because those dual-situations can be hard to suss out. You're not just on the prowl for heavy favorites versus heavy underdogs; you find those all the time. What you really need a moderate favorite from one sportsbook that's considered a heavy favorite by another. It's this difference that allows you to then invest in the favorite at Sportsbook No. 1 and then play the underdog at Sportsbook No. 2.

Arbitery Betting Vector

For the sake of another hypothetical, let's say you've taken a look at the upcoming week's NFL betting odds and see the following moneyline: Philadelphia Eagles (+550) vs. Green Bay Packers (-600). In order to implement arbitrage betting, you need to find a sportsbook that views the Packers less favorably—like a -400 or something. That would allow you to then invest in them while throwing cash into the Eagles at the above moneyline. Arbitrage betting won't pan out if the odds are almost identical.

With this in mind, it bears mentioning that miracle bets are usually only for moneylines. You won't encounter the same differences when playing the point spread or over/under. Both lines tend to pay out between -115 and +115. That doesn't leave enough room for stark contrasts between sportsbooks. So if you want to start arbitrage, you must remember to stick with moneylines in either-or scenarios, which is to say, single games.

The Challenge of Arbitrage Betting

Sometimes, arbitrage betting can sound too good to be true. Who doesn't want to guarantee themselves a profit, however small? That's why this is often called riskless wagering as well.

And yet, arbitrage betting is easier thought about than done. Identifying the right opportunity is more than half the battle, and it's not a simple one to fight. Not only are major moneyline discrepancies a rarity, particularly when it comes to playoff and championship matchups, but there's no guarantee you'll find the correct situations when they do exist.

Just think of how many different online sportsbooks there are. Your brain hurts, right? Now imagine trying to poke around every single one in search of, let's say, a single-game favorite that's viewed noticeably differently at two online betting sites. It seems impossible.

This is why many arbitrage bettors will use special software that searches thousands upon thousands of game lines across different sportsbooks with the intention of finding matchups that fit the bill. These services can be costly; they'll charge one-time fees or be subscription-based, in which case you'll need to pay monthly or yearly. But they'll be something you have to consider if you want to get into arbitrage betting.

On top of that, you also need to figure out how much you must bet on either side so that you turn a profit. Again: The primary goal should be to the net as close to 10 percent as possible on each wager. That is not math you'll be able to do in your head. You'll need to make sure you use an online betting calculator to test out different investment combinations or, more effectively, subscribe to a software service that also tells you how much you'll have to stake on each side of the wager.

Is Arbitrage Betting For You?

There’s no single answer to whether arbitrage betting is right for you. It depends on how much you’re willing to bankroll on each wager and your ability to consistently spot the right opportunities.

Even then, arbitrage betting is far from a guaranteed win. You have to be comfortable with collecting small profits per bet rather than chasing instant riches. The bigger challenge comes from how sportsbooks handle the practice. While arbitrage betting isn’t illegal, most operators actively discourage it. If you’re betting across sportsbooks that share ownership or trading data, your account may be flagged, restricted, or even closed. The real risk isn’t legal consequences—it’s having your stakes limited or your accounts frozen across multiple platforms.

Arbitery Betting Vector

Still, those concerns are secondary to the fundamentals: having the resources to both identify arbitrage opportunities and stake enough money for the payoff to matter. For some bettors, this strategy only makes sense occasionally, when particularly favorable lines appear. For others, it may not be appealing—or even feasible—at all.

And that’s perfectly fine. Knowing the challenges upfront allows you to decide whether arbitrage betting matches your style. If you do give it a try, keep your expectations in check. This isn’t a get-rich-quick scheme. It’s a method that requires patience, discipline, and overhead, and it’s best suited for those who are satisfied hitting steady singles and doubles rather than swinging for home runs.