Sports Betting Nigeria / Betting Strategies / Best Arbitrage Betting Sites 2024: Arbitrage Betting Strategies

Best Arbitrage Betting Sites 2024: Arbitrage Betting Strategies

Publish Date:27.07.2023
Fact checked by: Obinna Nwachukwu

What Is Arbitrage Betting and How Does it Work?

At CompleteSports, we are looking into various betting strategies to enrich your betting experience. Today, we focus on a unique approach known as arbitrage betting, a strategy that has gained popularity among bettors worldwide.

Arbitrage betting, or ‘arbing’, is a strategy that involves placing bets on all possible outcomes of an event. The unique aspect of this strategy is that it assures a profit, regardless of the event’s result, making it an interesting part of the betting environment today.

What does arbitrage betting mean?

Arbitrage betting, often referred to as ‘arbing’, is a betting strategy that involves placing bets on all possible outcomes of an event. This is done by taking advantage of the differences in odds offered by various arbitrage betting sites. The unique aspect of this strategy is that it assures a profit, regardless of the event’s result, making it a key part of the betting landscape today.

Unlike the Martingale strategy, which is based on increasing your bet size after a loss, arbitrage betting is not about predicting or guessing the outcome of a sports event. Instead, it’s about finding odds for winning. This approach to betting is more about mathematics and less about knowledge of the sport.

Arbitrage betting software can be a useful tool in identifying these profitable opportunities. However, it’s important to note that while this strategy can be used in the context of sports betting, it does not involve chance-based games such as roulette and dice games, which are not legal in Nigeria.

Also, all forms of online gambling in Nigeria, including sports betting, are regulated by the Nigerian Lottery Commission. This ensures that your betting experience is safe and legal.

Understanding the Basics

Before you start with arbitrage betting, it’s crucial to understand the basics of betting. Familiarize yourself with terms like over/under, handicap betting, win to nil strategy, draw no bet, double chance bet, and correct score strategy. Understanding these terms will help you make better decisions when placing your bets.

Utilize Arbitrage Betting Software

Arbitrage betting software can be a valuable tool in identifying profitable opportunities. These tools can help you find the best odds across various bookmakers and calculate the exact amount you need to bet on each outcome to ensure a profit.

Mix Up Your Betting Sites

To effectively implement the arbitrage betting strategy, you need to have accounts with multiple bookmakers. This is because arbitrage opportunities arise from the differences in odds offered by different bookmakers. However, ensure that all the bookmakers you use are licensed by the Nigerian Lottery Commission.

Stay Updated with Sports Events

Staying updated with sports events and trends can help you identify potential arbitrage opportunities. For instance, understanding what a BTTS (Both Teams to Score) bet in football can help you spot opportunities in matches where bookmakers have different opinions on the likely outcomes.

Manage Your Bankroll Effectively

Effective bankroll management is crucial in arbitrage betting. Since this strategy requires placing bets on all possible outcomes, it can involve significant amounts of money. Therefore, it’s important to manage your funds wisely and avoid betting more than you can afford to lose.

Mini reviews of arbitrage betting sites

22bet nigeria

22Bet Nigeria: Pros & Cons
  • Wide range of sports betting markets
  • Mobile app available for Android and iOS
  • Interesting offer for frequent bettors
  • Fast withdrawal times
  • 100% bonus up to 50000 NGN for sports betting
  • No loyalty scheme or VIP club, Cryptocurrency accounts can’t receive bonuses, No live chat support

22Bet Nigeria offers a wide range of sports betting markets, including arbitrage betting. Their mobile app adds to the betting experience, providing instant access to live broadcasts and enhanced live match statistics. However, they lack a formal loyalty scheme or VIP club.

Bet9ja

Bet9ja: Pros & Cons
  • Multiple boost bonus offer
  • Bet9ja Rewards loyalty program
  • Variety of deposit methods
  • Comprehensive betting site with thousands of sports
  • No mobile app, No loyalty scheme

Bet9ja provides a unique betting experience with their Multiple Boost Bonus offer and Bet9ja Rewards loyalty program. They offer a variety of deposit methods for convenience. However, they currently do not have a mobile app, which might limit accessibility for some users.

Betking nigeria

BetKing Nigeria: Pros & Cons
  • 100 Naira bonus on first bet for new customers
  • Variety of deposit methods
  • Agency opportunities for individuals
  • No mobile app, No loyalty scheme

BetKing Nigeria stands out with their offer of a 100 Naira bonus on the first bet for new customers. They also offer a variety of deposit methods and agency opportunities for individuals. However, like Bet9ja, they currently do not have a mobile app.

Benefits of using bonuses with arbitrage betting

Bonuses offered by arbitrage betting sites can provide several benefits to bettors.

1. Maximising profits

Bonuses can significantly deepen the profitability of your arbitrage betting strategy. For instance, a welcome bonus can increase your initial betting capital, allowing you to place larger bets and potentially secure larger profits.

2. Mitigating risks

While arbitrage betting is a low-risk strategy, bonuses can further mitigate any potential risks. For example, a risk-free bet or a cashback bonus can provide a safety net, allowing you to recover some or all of your stake if your bet doesn’t win.

3. Increasing betting opportunities

Bonuses can also increase your betting opportunities. With extra bonus funds, you can place more bets, increasing your chances of finding profitable arbitrage opportunities.

4. Enhancing betting experience

Lastly, bonuses can enrich your overall betting experience. They add an extra layer of excitement to your betting activities and can make your arbitrage betting experience more enjoyable.

Remember, it’s important to read and understand the terms and conditions of any bonus before you claim it. This will ensure you’re fully aware of the wagering requirements and other conditions that may apply.

The best betting sites

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Where might it be better to use arbing?

Arbitrage betting can be particularly beneficial in certain scenarios. Here are a few examples:

Highly competitive markets

In highly competitive markets, such as football or tennis, bookmakers often offer different odds for the same event. This creates perfect conditions for arbitrage betting, as you can take advantage of these discrepancies to secure a profit.

Markets with many possible outcomes

Markets with many possible outcomes, such as the correct score strategy in football, can also be great for arbing. The more outcomes there are, the higher the chance that bookmakers will have differing opinions on the probabilities, leading to arbitrage opportunities.

During major sporting events

Major sporting events, like the World Cup or the Olympics, often see bookmakers offering a variety of promotions and bonuses. These can be used to increase your betting capital, allowing you to place larger arbitrage bets and potentially secure larger profits.

When using betting exchanges

Betting exchanges, where bettors can offer and accept bets with each other, can also be a good place for arbitrage betting. The odds on exchanges are generally better than those offered by traditional bookmakers, increasing the potential profitability of your arbitrage bets.

Remember, while arbitrage betting can be profitable, it requires careful planning and consideration. Always ensure you understand the terms and conditions of any bonuses or promotions you use, and be aware of the rules and regulations of the betting markets you’re participating in.

Conclusion

Arbitrage betting, or ‘arbing’, is a strategy that can be used to secure a profit from discrepancies in odds offered by different bookmakers. While it requires careful planning, research, and a good understanding of the betting markets, it can be a beneficial strategy for bettors who are willing to put in the time and effort.

In Nigeria, where sports betting is a popular pastime, arbing can be particularly effective due to the competitive nature of the market. However, it’s important to remember that while arbing can provide a profit, it should be approached responsibly. Always ensure you understand the terms and conditions of any bonuses or promotions you use, and never bet more than you can afford to lose.

Whether you’re a seasoned bettor or new to the world of sports betting, arbing can be a valuable addition to your betting strategy. Just remember to keep an eye on the odds, do your research, and most importantly, enjoy the process. After all, at the end of the day. Betting should be about the enjoyment of the game.

Our best betting offers

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Arbitrage betting – FAQ

🤔 What is arbitrage betting?

Arbitrage betting is a unique strategy used in the betting world. For a comprehensive understanding and detailed explanation, our guide on CompleteSports is a great resource.

Arbitrage betting falls under the general betting regulations in Nigeria. For a full understanding of these regulations, we recommend checking out the resources available on CompleteSports.

💻 Which are the best sites for arbitrage betting in Nigeria?

There are several great sites for arbitrage betting in Nigeria. For a detailed comparison and reviews of these sites, head over to our site, CompleteSports.

📈 How can I improve my arbitrage betting strategy?

Improving your arbitrage betting strategy involves understanding various aspects of this betting approach. For tips and strategies, our articles on CompleteSports can be very helpful.

💰 Can I use bonuses with arbitrage betting?

Bonuses can play a role in arbitrage betting. To understand how to effectively use bonuses in your arbitrage betting strategy, we suggest reading our guides on CompleteSports.

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Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

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