: Thu Apr 02, 2009 6:26 am
WANDERER wrote:
Sorry if this comes over as pedantic, but surely Big Bucks cannot be referred to as an arb at odds of 5/6. For an arb to occur the punter must have the ability to make a profit regardless of outcome by backing two or more possibilities;
e.g. In a tennis match with only two possible outcomes, one bookmaker has player A odds on (4/6) and player B odds against (11/10) whilst another bookmaker has player A odds against (5/4) and player B odds on (4/7). By backing each player at odds against the punter is guaranteed a profit albeit a small one.
Big stakes players search for opportunities like this but they are few and far between as bookmakers view each others prices and will rarely provide punters such opportunities for too long - but they do occur from time to time.
There are more arbs on horse racing than any other sport. The price to lay on Betfair was 1.83 and it's 5/6 or 1.85 with the bookmakers, you could back him with Paddy Power and lay him on Betfair for guaranteed profit.
In this intance he'd be backing Big Bucks to win and Big Bucks to lose with no risk at all to himself.
Betfair is the best guide for horse prices - some firms will lay arbs, Paddy Power often take a view on a race and will stand it for X amount.
As long as the price is under to lay on Betfair then the arb players will come and back it with X firm and lay it with Betfair. As one odds compiler put it "I couldn't think of anything more tedious than arbing" - most arbers will do it in £5 to £40 stakes so you need a heck of a lot of arbs to make it pay.
