Big Risk Free Profit (Arbitrage) in a 9-Way Market | Sports Betting Math & Formulas

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Data runs the world - it should run your sports betting accounts, too.

In this video, Alex finds arbitrage in a NCAA college football futures market. This is a 9 way market. He goes through the sports betting mathematical formula of converting odds into implied probabilities and determining if the market has arbitrage or not.

To determine if sports betting arbitrage exists in a given market, sum the implied probabilities for each and every outcome. If the sum of implied probabilities is less than 1, then arbitrage exists. This means you can place a bet on each and every outcome to guarantee yourself a risk-free return. If the sum is greater than 1, you cannot earn a risk free profit.

Since the sum of implied probabilities in the ACC Conference Champion market is roughly 0.975, sports betting arbitrage exists, and Alex shows you how to place an arbitrage bet. We only used four sportsbooks in this arbitrage calculation: BetRivers, Fanduel, BetMGM and Circa. To have placed this arbitrage bet, you would've needed accounts at all four of these sportsbooks. Colorado is one state that has all of these bookmakers. Colorado has the best sports betting scene in the United States in terms of the quantity of bookmakers available in the state.

Understanding probability and math is very important as a sharp sports bettor. You need to be able to identify line discrepancies and where value odds exist.

OddsJam is the fastest sports betting arbitrage software on the market. There are many other features on OddsJam, too, such as Positive Expected Value bets and Middles.

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