A Guide That Will Tell You All You Need to Know about a Rare Surebet
A surebet is a betting type that experienced sports betting fans like to use. However, those who are new to the sports betting scene will probably not have a clue about it. If this is you, then you are in luck as this betting guide is going to reveal all that you need to know about this type of bet.
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What Is a Surebet?
A sure bet (sometimes call a miracle bet, an arbitage bet, or an arb) is defined as a set of bets which give a punter an advantage by making use of varying odds by different bookmakers for the outcome of a sporting event. In laymen's terms, when you are sports betting, you can exploit the fact that two or more bookmakers may have differing ideas (and therefore differing odds) on how a match or competition may turn out; thus you can place multiple bets where one of the outcomes should turn out with a positive result.
Surebet Example
To give you an even better understanding of what a surebet is, we are going to provide you with an example. Usually, we use football for our examples, but here we are going to use tennis because it is always nice to have a bit of variety. So, let us say that Novak Djokovic and Rafael Nadal are playing at the final of Wimbledon. One bookie has Djokovic at odds of 2.10 to win, while another bookie has Nadal at odds of 2.10 to win. Here we have a great opportunity to make a surebet. In this made-up scenario, if we put €20 on Nadal to win and €20 on Djokovic to win, we will end up with a small profit.
How to Calculate a Surebet?
So, how is it that we calculate a surebet? Well, we can do it by adding the probabilities of the odds that are offered for both outcomes. To calculate the probability, we simply divided the odds (in a decimal format) by one. So, let us explain using the same tennis example that we gave you above.
- Nadal with odds of 2.10; the implied probability is 2.10/1 = 47.6%
- Djokovic with odds of 2.10; the implied probability is 2.10/1 = 47.6%
To then check if we have a sure bet and certain profit, we simply add both of the probabilities which, in this case, will give us 95.2%. When the implied probability is below 100%, then you know you have a surebet opportunity. The further away from 100% the better, as this means your return should be greater.
How to Make a Surebet?
When it comes to making a surebet, you will be glad to hear that it is a simple process. It is just the same as placing two single bets. The only tricky thing is making sure that you do actually have a surebet. This is something even experienced sports betting fans can get wrong from time to time. However, the more experience you have, the less likely you will be to make an error.
Below we have quickly outlined the surebet process:
- Enter your sportsbook accounts and find your surebet
- Once you are certain that you have a surebet, work out exactly how much you have to place on it so that you make a profit
- Once you are content with your choice, place your stake on both of the outcomes and submit your bets
Surebet Tips
One tip that you should always remember when you believe you have a surebet lined up is to ensure that both bookies are willing to accept the bet that you want to make. Not all sportsbooks have the same markets, betting limits, and more, so it is important to check all areas before finalising any wager.
As an example of what may go wrong, imagine that you want to bet on the Football World Cup final, and let's say that Brazil are playing Italy. If you found that BoyleSports and LeoVegas Sports had different favourites - the former thought Brazil would lose (odds of 2.10) and the latter thought Italy would lose (odds of 2.05) - you may think you had a surebet on the cards. You decide that you have €200 that you are willing to wager in total, so you place €100 with Boylesports on Brazil, but then you realise that LeoVegas, for some reason that you did not realise, will not let you wager the other €100 on Italy winning. Your best case scenario, in this instance, is that you have a normal single wager that goes on to win. The problem is, like with all usual forms of betting, that your bet may not turn out the way you hoped and you will lose that €100. You may get the option to cash out your first bet, but then you may still end up with less than your initial stake.
Understanding the example above, you can see why surebets may not be as 'sure' as their name suggests, so be mindful about the risks before attempting this sort of betting.
FAQ
Which Surebets Are Suitable for Beginners?
If you are new to arbitrage betting, then you should stick to pre-match surebets as these are a lot easier to deal with. This is because the odds change extremely slowly. When it comes to live surebet betting, the odds change at a rapid pace which means that beginners often struggle to keep up.
What Is the Difference between Prematch and Live Surebets?
To put it as simply as possible, a pre-match surebet is one that you place before the event has started, while a live surebet is one that you make while the event is happening.
To How Many Bookmakers Should I Sign up for Surebets to Work?
In order for arbitrage betting to work, you need to have an account with at least two bookies. However, we recommend that you open an account with three to five bookies so you can find the best odds to make use of. You can choose bookmakers after reading their reviews. If you are a beginner when it comes to sports betting, we recommend that you do not open an account with more than five as things might start to get a bit confusing.
What Are the Possible Risks That Punters Can Run into When Sure Betting?
One thing that has been shown to be a little sketchy when it comes to arbitrage betting is that bookmakers will scratch odds. This means that underpinning odds will disappear after there has been some betting activity. Surebets only last a few hours, so you need to pay attention so that you do not end up missing out. Also, due to the fast-paced nature of this type of betting, players can sometimes be inundated with different information, which can lead to an error in calculation and a loss of money.
