Arbitrage with Prophet Exchange
Arbitrage is one of the techniques of matched betting. Matched betting is where you place a bet on a sportsbook and hedge it on Prophet Exchange. Because this covers both outcomes, one of your bets is guaranteed to win and you will profit no matter what happens. Arbitrage occurs when two sportsbooks/exchanges have a large enough difference in the available odds that you can guarantee profit through matched betting. Most times betting on both sides of a sporting event is not profitable without a promotion. However, Prophet Exchange offers such competitive odds that arbitrage commonly occurs.
Let’s look at an example where the Nets and Lakers are playing each other and there is an arbitrage opportunity between Barstool and Prophet Exchange.
Use the Arbitrage Bet Finder on DarkHorse Odds
The Arbitrage Bet Finder analyzes all of the odds and shows you the best Matched Bets that will maximize your profit.
You can seen in the screenshot below, the best Matched Bet is identified as:
- Nets money line on Barstool at -110
- Lakers money line on Prophet Exchange at +125
The Nets and the Lakers play each other; therefore, one of those two bets will win. To convert your Free Bet you need to…
- Place a $1000 primary bet on Barstool on the Nets at -110 (Primary Bet)
- Place a $858 hedge on Prophet Exchange on the Lakers +125 (Hedge Bet)
If The Lakers win…
- Profit $909 from the primary bet on Barstool
- Lose $858 on on Prophet Exchange
- Net Profit: $51
If the Nets win…
- Profit $1,051 from the hedge on Prophet Exchange
- Lose $1,00 on Barstool since it was a Free Bet
- Net Profit: $51
You can see that no matter which bet wins in any of the scenarios above, at the end you walk away with $51 profit.
The concept of covering both potential outcomes applies to more than just arbitrage. It also works for many of the promotions offered by sportsbooks. Free Bets, Risk Free Bets, Site Credit, Profit Boosts and many more can all be converted into profit using Matched Betting. The hard part is finding the best bets and knowing how much to bet. That’s where the combination of Prophet Exchange and DarkHorse Odds comes into play. Prophet Exchange offers the best odds in New Jersey allowing the best possible conversions for matched betting. DarkHorse Odds finds the perfect matched bet for the highest possible conversion.
Learn more about Match Betting with Prophet Exchange in our guides.