Should I Start Sports Arbitrage Trading?
Ultimately, I suspect, this is the question that everyone who reads this series of articles, wants answers for them. It is certainly not a question which should be overlooked, because deciding to trade isn’t a matter of signing up to something and then forgetting about it. There is work involved, there is learning involved, and a degree of commitment is required for long term profits. That being said, it is one of the advantages of arbitrage that you can pull the plug at any time without incurring any losses. There is no ‘deposit term’ on arbitrage and all of your money is permanently under your own control. No one starts arbing with the intention to quit though, so let’s look at what needs to be done to be successful.
In order to be successful in sports betting arbitrage, you must:
- Be prepared to keep your trading very organised.
- Be prepared to dedicate time learning the basics.
- Ensure you are willing to react whenever an arb is found.
- Accept that there is a learning period.
Getting organised really isn’t too hard, but if you don’t get a system sorted out from the outset, then you may end up confusing yourself and making mistakes. You will be opening accounts with anything up to 50 or more different bookmakers, you better have a method of keeping track of all of the passwords and usernames you use plus all of the different account balances. Monitoring your bets and profits is a great idea too so you can watch your progress.
In the first few months you will have to tough out the learning curve. You will have to become accustomed to each bookmaker, to each method of navigation and the different ways of displaying the bets. You will need to optimize your ability to react to the arb alerts with a level head allowing you to quickly note the key details you need to remember as you navigate the bookmaker site. So expect to learn a few things.
If you choose to subscribe to any arbing program, you need to be sure that when an arb info comes through, you are ready to react. And as the first couple of months progress, realise that these learning months are going to be the worst months you will ever have. As your experience grows, your results will only improve.
What to do Next?
That very simple list gives you an idea of what the commitment is, but luckily you still don’t have to jump into arbing business blindly. It is possible to get started without committing yourself to anything and testing the whole thing for a while.
Clearly, you need bookmakers and to help you out, there are databases on the internet, full of all of the bookmakers (and important relevant information for arbers) for you to browse and register at. That’s free to do, so no commitment there.
Secondly E-wallets are covered because you will want a fast secure way of depositing and withdrawing from the bookmakers. Registering at those is free and commits you to nothing.
Thirdly you will find the complete list of arbitrage alert services (unless you have plenty of time and can do it manually). Some of these are free odds comparisons sites, so you are able to use them instantly to see arb, which are available right now, without committing yourself to anything.
With just these 3 components: Bookies, E-wallet and Arb Services, you are free to test paper trade. Paper trading consists of doing everything as if it was real, but without committing any real money to it.
So, from here, that is my recommendation to you. Register at the bookmakers. Register with an E-wallet, and take arbitrage for a test run. No commitment. No money up front. Nothing to lose… Potential income to be gained. Once you will feel it is good for you, then “Bring the money to the game!”