BetInAsia
BLACK shows the odds and limits of every connected betting site on one betslip, takes lays on exchange prices and on bookmaker prices, and holds a standing order for a price that is not on offer yet.
Arbitrage Betting with Betting Brokers: How Arbing Works and Why Brokers Matter
The arithmetic of covering every outcome, and the broker tools that do the sums.
Arbitrage betting is a staking method. You back every outcome of one event at odds whose implied probabilities, each worked out as 1 divided by the decimal price, total less than 100%. Size the stakes correctly and every outcome returns the same amount, which exceeds your total stake if each bet is accepted at the odds you calculated. Prices move, bets can be refused or limited and betting sites settle by their own rules, so the sums describe the odds at one moment, not a promised result.
Betting brokers suit arbing because one account reaches several Asian bookmakers and betting exchanges, which puts both sides of a bet in one place. BetInAsia, AsianConnect, MadMarket and Sportmarket are the four brokers we recommend.
The four brokers
What is arbitrage betting?
Arbitrage betting (arbing, to the people who do it) is a way of staking on every outcome of one event so that the same amount comes back whichever outcome wins. It needs betting sites that disagree about the price, and it needs you to reach all of them.
Every decimal price carries an implied probability, which is 1 divided by the odds: 2.00 implies 50% and 2.50 implies 40%. One betting site builds a margin into its prices, so its implied probabilities add up to more than 100%. Take the best price for each outcome from different betting sites and the total can fall below 100%. That gap is what an arber hunts.
Here is the arithmetic for a two-outcome market, with round numbers chosen for illustration.
A two-outcome arbitrage worked through: the arithmetic if both bets are accepted at these odds
| Outcome | Decimal odds | Implied probability | Stake | Return if this outcome wins |
|---|---|---|---|---|
| Outcome A | 2.00 | 50% | 500 | 1,000 |
| Outcome B | 2.50 | 40% | 400 | 1,000 |
| Total | 90% | 900 | 1,000 either way |
With 900 staked in total, either outcome returns 1,000 before costs. The rule behind the stakes is short: the stake on an outcome is the total stake multiplied by that outcome's implied probability and divided by the sum of all the implied probabilities. The same rule extends to three outcomes, such as a football match result, and BetInAsia's calculator takes two or three.
That is the theory. Execution is another matter.
A calculation is a snapshot
The sums describe the odds at the moment you work them out. A price can move before your second bet, a bet can be refused or limited, and each betting site settles by its own rules. The risks section sets each one out.
How arbitrage betting works step by step
Four steps, each with its own way to go wrong. The first two are arithmetic. The last two are where the work is.
Find the price gap
Pick one event and one market, then collect the best price for every outcome across the betting sites you can reach. Convert each price to an implied probability and add them up. A total below 100% is a candidate; a total at or above 100% is not. Finder software exists for this job, and we do not review it here.
The markets must match exactly: same event, same period, same line. Two Asian handicap lines a quarter apart are two different markets. Two differently named markets can describe the same outcome, which, incidentally, is why BLACK at BetInAsia, Edge at MadMarket and the Betting Platform at Sportmarket each mark such equivalent bets with a green "e" on the betslip; Sportmarket's own example pairs Over 2.5 goals with a lay of Under 2.5 goals.
Calculate the stakes
Use the rule above or let a calculator do it. BetInAsia hosts an Arbitrage Calculator for two or three outcomes, and our page on the BetInAsia arbitrage calculator covers it beside the Arb Calculator inside the BLACK betslip.
Round each stake to what the betting site accepts and run the sums again, because a rounded stake changes the return on that outcome. Then add the costs. BetInAsia states that BLACK charges no commission on bets placed through bookmakers and that the commission on exchange bets is already included in the price shown.
Place the bets
Place the first bet at the odds you calculated, check that the second price still stands, then place it. A broker shortens the distance between the two legs. On BLACK the betslip shows the odds and limits of every connected betting site, lays can be placed on exchange prices and on bookmaker prices, and a stake that one betting site cannot take is spread across several. Sportmarket's Betting Platform spreads a stake across bookmakers when needed and shows the maximum stake on the betslip.
When the second price is not on offer yet, a standing order can carry the second leg: Future Placement, also called Timeout, on BLACK, Timeout on Edge and Future Fulfilment at Sportmarket each place a bet automatically when the market reaches the price you set. Until it fills, the first bet stands alone.
Manage the risks
Every risk here belongs to the method, not to a particular betting site: a price that moves, a bet that is refused or limited, rules that differ. The list further down sets them out. The short rule is to stake only what you can hold if one leg is accepted and the other is not.
Why arbers get limited by bookmakers
Honestly, this is the part that makes brokers worth discussing. A soft bookmaker (a betting site that earns its margin from customers who lose) welcomes your first bets and trims your maximum stake once your results stop looking recreational.
We think cutting the stakes of customers who win is the least defensible habit in betting, and arbers, whose results come from arithmetic rather than luck, are obvious candidates. Our pages on bookmaker restrictions explain how to avoid being limited for as long as the account lasts, and the guide to ten habits that delay a stake cut puts it into practice.
The counterpart is the sharp bookmaker. We cover sharp vs soft books on a page of their own.
Why use a betting broker for arbitrage
Arbing needs reach: enough betting sites to find the gap, and both sides of a bet in one place. A broker supplies both through a single account. BetInAsia states its position this way: "Winners like arbitrage and value bettors are not limited for their success." If the word broker is new to you, start with bet brokers explained.
One account, many betting sites
Each of the four brokers gives you one account and one wallet that sit in front of its betting sites. In our register, Pinnacle sits under PS3838 at BetInAsia, AsianConnect and Sportmarket and under Probet42 at MadMarket, and the register shows Sbobet and Singbet with the tool that opens each.
Arbitrage betting brokers: Pinnacle, Sbobet and Singbet in the access register, with the tool that opens each
BLACK, Edge and the Betting Platform, which, incidentally, all run on Mollybet software, put the odds of the connected betting sites on one screen.
An exchange for the lay side
An exchange lets you lay, which means betting that an outcome will not happen, so one exchange bet can cover the other side of a bet you backed at a bookmaker. BLACK at BetInAsia takes lay bets on exchange prices and on bookmaker prices. Edge at MadMarket has a Classic view for backing and an Exchange view for laying. Sportmarket's Betting Platform takes lay bets, and AsianConnect lists back and lay bets on an exchange and arbitrage combinations across platforms among its bet types.
AsianConnect writes "Powered by Betfair" under OrbitX. The comparison below names the tool that reaches Betfair at each broker.
Best betting brokers for arbitrage betting
We list the four in the same order everywhere on the site, and the order is not a ranking. For arbing, three things matter: the set of betting sites, a route to an exchange for the lay side, and a calculator close to the betslip.
Arbitrage betting brokers compared: betting sites opened, platforms, calculators and the tool that reaches Betfair
| Broker | Asian bookmakers | Exchanges | Platforms | Calculator | Tool for Betfair |
|---|---|---|---|---|---|
| BetInAsia | 7 | 8 | BLACK, Sharp Exchange, PS3838 | Arbitrage Calculator for two or three outcomes on betinasia.com; Arb Calculator in the BLACK betslip | Sharp Exchange |
| AsianConnect | 5 | 2 | Asianodds88, PS3838, PIWI247, OrbitX | Payout calculator and odds converter | PIWI247, OrbitX |
| MadMarket | 6 | 8 | Edge, Probet42, Sharp Exchange | Arbitrage and Margin among the footer calculators | Sharp Exchange, Edge |
| Sportmarket | 5 | 7 | Betting Platform, Direct Bookmaker Accounts | Arb Calculator in every betslip | FairExchange |
The counts come from our access register, which files the prediction markets Kalshi and Polymarket under exchanges.
AsianConnect
Asianodds88, the AsianConnect aggregator, compares real-time odds from bookmakers and betting exchanges. One unified wallet covers PS3838, Asianodds88, PIWI247 and OrbitX, and AsianConnect's member system, the AMS, separates wins and losses by bookmaker.
MadMarket
Edge compares prices from the connected betting sites, with a Classic view for backs, an Exchange view for lays, a Timeout order for a price not yet on offer and a price history.
Sportmarket
The Betting Platform offers a Sportsbook view for one event and a Trade view for several events at once, spreads a stake across bookmakers when needed and places a Future Fulfilment order when your price is reached.
Match the broker to the calculator you will use most
BetInAsia and Sportmarket build an arbitrage calculator into the betslip, BetInAsia and MadMarket publish calculators on their sites, and AsianConnect offers a payout calculator and an odds converter. Compare all four on our page of brokers for arbing.
Arbitrage calculator
Every arbitrage calculator runs the same lines, and you can run them with a pencil.
- Divide 1 by each decimal price to get its implied probability.
- Add the implied probabilities together.
- The stake on each outcome is the total stake multiplied by its implied probability and divided by the total from step 2.
- The return on every outcome is the total stake divided by the total from step 2.
What the total of the implied probabilities shows, with 900 staked
| Total of the implied probabilities | What the arithmetic shows | Return on every outcome |
|---|---|---|
| Below 100%, for example 90% | Every outcome returns the same amount, and it is larger than the total stake before costs | 1,000 |
| Exactly 100% | Every outcome returns the total stake before costs | 900 |
| Above 100%, for example 105% | The best prices leave no gap, and every outcome returns less than the total stake | 857.14 |
A calculator saves the arithmetic and nothing else. It does not check the market, the line or the rules of the two betting sites. The ones our four brokers offer:
- BetInAsia. An Arbitrage Calculator for two or three outcomes and an Asian handicap and Asian total calculator on betinasia.com, plus an Arb Calculator in the BLACK betslip: enter the odds and stake of a bet placed elsewhere and the betslip proposes the cover, with a timeout option to cover later.
- AsianConnect. A payout calculator and an odds converter that reads Decimal, Indo, Hongkong, Malay, Fractional and American formats.
- MadMarket. Footer calculators that include Arbitrage and Margin, and a Betting Guide that covers arbitrage, hedging and cash out.
- Sportmarket. An Arb Calculator in every betslip, which covers a bet placed at another bookmaker. It is a calculation tool.
Risks and mistakes to avoid
Then the price moves. That is the first risk, and a reminder that the items below belong to the method.
- A price moves before your second bet. The sums were right for odds that no longer exist. Check the second price again before you place it, and recalculate if it has changed.
- A bet is refused, limited or accepted at a smaller stake. The maximum stake depends on the betting site, the event and the market. If only part of a leg is accepted, the stakes no longer balance and you hold a position on one side.
- Betting sites settle differently. Postponements, abandoned matches, retirements and extra time can be treated differently from one betting site to the next, so read the rules of both betting sites before you stake.
- Costs outside the sums. Exchange commission, payment fees and currency conversion all reduce a thin gap, and they belong in the calculation.
- Markets that only look the same. A different line, period or event is a different bet, and a mistyped price turns a sound method into a wrong calculation.
- Rounded stakes. Rounding changes what each outcome returns, so recalculate with the stakes you actually place.
Size for one leg
Treat every arb as if only one leg will be accepted, and stake an amount you can afford to hold in that case. It is the position you carry between the two bets.
FAQ
What is arbitrage betting?
Arbitrage betting is a staking method. It backs every outcome of an event at odds whose implied probabilities total less than 100%, with the stakes sized so that each outcome returns the same amount. The result depends on every bet being accepted at the odds you calculated.
Does arbitrage betting promise a profit?
No. The calculation describes the odds at the moment you run it. A price can move before the second bet, a bet can be refused or accepted at a smaller stake, and each betting site settles by its own rules. MadMarket's Betting Guide says in its FAQ that betting does not promise a profit.
Which calculators do the four brokers offer?
BetInAsia, MadMarket and Sportmarket each have an arbitrage calculator. BetInAsia hosts one for two or three outcomes and adds an Arb Calculator to the BLACK betslip, MadMarket lists Arbitrage and Margin among its footer calculators, and Sportmarket builds an Arb Calculator into every betslip. AsianConnect offers a payout calculator and an odds converter.
Which exchanges can I use for the lay side?
In our register, Betfair is reached through Sharp Exchange at BetInAsia, through PIWI247 and OrbitX at AsianConnect, through Sharp Exchange and Edge at MadMarket and through FairExchange at Sportmarket. The register also lists Betdaq, Matchbook, Orbit Exchange and Smarkets: BetInAsia, MadMarket and Sportmarket open all four, and AsianConnect opens Orbit Exchange.
What is the difference between a soft and a sharp bookmaker?
A soft bookmaker earns its margin from customers who lose and trims the stakes of those who win. A sharp bookmaker works on a thin margin and larger volume. We set out sharp vs soft books on a page of their own.
Get started
Open the account, run the sums on a few markets before you stake, and place real stakes once the betslip and the calculator feel familiar. Each broker has a page of its own: BetInAsia, AsianConnect, MadMarket and Sportmarket.