Betting Arbitrage

Betting arbitrage, miracle bets, sure bets, sports arbitraging is a particular case of arbitrage arising on betting markets due to bookmakers’ different opinions on either event outcomes or plain errors. By placing one bet per each outcome with different betting companies, the bettor can make a profit. In the bettors' slang an arbitrage is often referred to as an arb; people who use arbitrage are called arbers. A typical arb is around 2 percent, often less; however 4-5 percent are occasionally seen and during some special events they might reach 20 percent. Arbitrage betting involves relatively large sums of money stakes are bigger than in normal betting.

Bookmakers generally disapprove of arbers, and restrict or close the accounts of those who they suspect of engaging in arbitrage betting. Although arbitrage betting has existed since the beginnings of bookmaking, the rise of the Internet, odds-comparison websites and betting exchanges have enabled the practice to be easier to perform. On the other hand, these changes also made it easier for bookmakers to keep their odds in line with the market.

The best way of generating profit, which has been established in Britain via sports arbitrage, consists of 'key men' employing others to place bets on their behalf, so as to avoid detection and increase accessibility to bookmakers. This allows the financiers or key arbers to stay at a computer to keep track of market movement.

While often claimed to be risk-free, this is only true if an arb is successfully completed; in reality, there are several threats to this:

Arbs in online sports markets have a median lifetime of around 15 minutes, after which the difference in odds underpinning them vanishes through betting activity. Without rapid alerting and action, it is possible to fail to make all the legs of the arb before it vanish, thus transforming it from a risk-free arb into a bet. High street bookmakers however, offer their odds days in advance and rarely change them once they have been set. These Arbs can have a lifetime of several hours.

Making errors: In the excitement of the action and due to the high number of bets placed, it is not uncommon to make a mistake like traders on financial markets. For example the appropriate stakes may be incorrectly calculated, or be placed on the wrong legs of the arb, locking in a loss, or there may be inadequate funds in one of the accounts to complete the arb. Those errors might temporarily have an important impact. In the long term, the benefit will depend on the odds. For example one could actually make more money by placing the wrong bet where the outcome happens to be beneficial, though not justified by the arbitrage calculation. However, this stroke of luck being repeated is unlikely, assuming the bookies have calculated the odds so they make a profit.

Bet cancellation: If a bettor places bets so as to make an arbitrage and one bookmaker cancels a bet, the bettor could find himself in a bad position because he is actually betting with all the risks implied. The bettor can repeat the bet that has been cancelled so as minimize the risk, but if he cannot get the same odds he had before he may be forced to take a loss. In some cases the situation arises when there are very high potential payouts by the bookie, perhaps due to an unintentional error made while quoting odds. Many jurisdictions allow bookmakers to cancel bets in the event of such a palpable [obvious] error in the quoted odds This is often loosely defined as an obvious mistake, but whether a palp in fact has been made is often the sole discretion of the bookmaker.

Other problems: Bookmakers who suspect arbing can set very low maximum stake limits, making arbing insufficiently profitable. Capital diffusion is serious; many bookmakers make it very easy to deposit funds and difficult to withdraw them. Making a return involves many bets spread over typically many bookmakers so keeping track is a considerable challenge, and requires excellent record-keeping.

Indian Poker

Blind man's bluff also called Indian poker, or squaw poker or Indian head is a version of poker that is unconventional in that each person sees the cards of all players except his own.

The standard version is simply high card wins. Each player is dealt one card that he displays to all other players traditionally stuck to the forehead facing outwards- supposedly like an Indian feather. This is followed by a round of betting. Players attempt to guess if they have the highest card based on the distribution of visible cards and how other players are betting.

Other versions forehead stud are variations on stud poker, in which one or more of the hole cards is hidden from its owner, but shown to all other players, as above. During its coverage of the 2004 World Series of Poker, ESPN showed a Blind Man's Bluff version of Texas hold'em.

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Playing Cards

A playing card is a piece of specially prepared heavy paper, thin cardboard, or thin plastic, figured with distinguishing motifs and used as one of a set for playing card games. Playing cards are typically palm-sized for convenient handling.

A complete set of cards is called a pack or deck, and the subset of cards held at one time by a player during a game is commonly called a hand. A deck of cards may be used for playing a great variety of card games, some of which may also incorporate gambling. Because playing cards are both standardized and commonly available, they are often adapted for other uses, such as magic tricks, cartomancy, or building a house of cards.

The front or face of each card carries markings that distinguish it from the other cards in the deck and determine its use under the rules of the game being played. The back of each card is identical for all cards in any particular deck, and usually of a single color or formalized design. Usually every card will be smooth however some decks have braille to allow blind people to read the card number and suit. The back of playing cards is sometimes used for advertising. For most games, the cards are assembled into a deck, and their order is randomized by shuffling.