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Arbitrage opportunities can pop-up in betting markets for a variety of reasons, most commonly being a disagreement in Sportsbook opinions on a certain event. You can see here, that there a discrepancy in the odds, or a disagreement between the sportsbooks over the winning chances of each team. This a sports betting arbitrage, an opportunity to guarantee yourself a profit no matter the result e.
Arbitrage betting can be very profitable as long as you demonstrate patience and capitalise on the many opportunities that arise every day. Where you can lose big amounts with online Sportsbooks is if you outlay large sums on a bet that potentially could be a sportsbook error. That is until the Sportsbook cancels the market that had an error Sportsbooks may be able to do this even after the event has started, read their terms and conditions.
You are then stuck in a situation where you have a large amount of money on a huge underdog. You can however place single bets on the sportsbook errors, because if they get cancelled, you get your money back. According to the Kelly criterion, you should place a wager of approximately 1. After applying the fractional Kelly value of 0.
The Kelly Criterion is a method by which you can used your assessed probability of an event occurring in conjunction with the odds for the event and your bankroll, to work out how much to wager on the event to maximise your value. By inputting the odds, the probability of the event occurring and your betting balance, you will be able to determine the amount you should wager on the event.
The fractional Kelly betting input is a way to change how aggressive or conservative you are with your wagering 1 being the standard and moving towards 0 the more conservative you wish to be with your wagering. Ultimately, the Kelly Criterion calculator, if you are accurate with your assessed probability should increase your value and profit over a long-term period. How does the Kelly criterion calculator work? Fractional Kelly betting Standard Conservative.
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