One of the few genuine ways of making money from betting online that I know of is by a process called arbitrage betting. When I first heard of the “system” involved I was very sceptical and dubious, but then when I looked into it more and researched arbitrage betting on the Internet I was very surprised to find out that it was a foolproof way to make money betting online.
To understand one of the simple arbitrage betting techniques you first need to understand what a betting exchange site is. There are a few betting exchanges around on the Internet, with Betfair being the biggest and most popular. They are different to the traditional online bookmakers due to the fact that at a betting exchange you can lay bets as well as placing them. When you lay a bet you simply bet against an event happening – you take the place of the bookmaker. At Betfair millions of people make bets amongst other users of the site – you get to set the odds that you choose, and if someone accepts the bet you will have to pay out if it wins. If the bet loses then you get to keep that users bet stake.
Betting exchanges create a whole new dimension when it comes to betforward betting online. No longer do you have to gamble to win money in the usual way, but you can also act as a bookmaker and either payout when certain events happen or you can keep the punters money when the supposed event doesn’t happen. The most popular things to bet on at Betfair are the sports like Football and Tennis, but you can also play poker and other casino games.
Now to make money from arbitrage betting you need to be able to use a betting exchange and you need to be have a lot of patience. What you will be doing is finding odds to back an event at a normal bookmakers, and then you will lay this exact same event at a betting exchange, at lower odds if possible. If you can lay the event at a lower set of odds then you have backed an event, you will have made an arbitrage bet. You will find that no matter what happens in the bet, you will end up with a profit. You will find that although the profit from say a £10 bet make only be 30p, if you are able to bet £100 or £1000 at a time you will find that you are able to earn £3 from one bet, or £30 from one bet. If you can find several arbitrage bets a day you should be able to earn a healthy amount of money simply by betting online. You need to be careful not to make a mistake when performing arbitrage betting online, as if you make a mistake it could wipe out a lot of your profits.