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The easiest way to make money with gambling is sports
arbitrage, or also known as scalping. The
dictionary definition of the word scalping is as follows:
To engage in the reselling of something, such as tickets,
at a price higher than the established value. My
definition of scalping is as follows: To wager on both
sides of a sporting event in order to ensure a profit
regardless of which team wins. What. What is that? You can
bet on both teams and make money no matter which team
wins?? How can this be? Well, the answer is quite simple,
but like as in some many other areas of life the theory is
relatively easy, yet the actual completion of the task is
the tricky part.
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At its very root, sports arbitrage means to buy a money
line low and sell it high. Take for an example the Reds
playing the Marlins. Any serious gambler is going to have
many outs, online books. And this is going to be the key
for scalping. As previously mentioned, the idea is simple,
but one who is serious about scalping must weigh the means
to get to the end. A friend of mine scalps, and that is
all he does. He does not place any wager without knowing
in advance he is going to make money no matter what the
outcome. This gentleman recommends at least 5 online
accounts to have a chance at scalping. And of course the
more outs you have, the more chances there will be to
scalp. But having at least 5 books seems to be the minimum
requirement to make any of this worthwhile. In each of
those accounts you are going to have to have a pretty
decent amount of money. The thing with scalping is that
you make money before the game even starts, but profits
are usually in the range of 1 to 3% of all monies wagered.
Say for instance, you get a nice scalp, 2% and you are
able to get down $3500, total action, then your return
before the game even starts is $70. Not to shabby. Yes you
do have to put up 3500 to make 70, but remember this is
risk free.
Ok, so back to our Reds/ Marlins example. Assume the
average line is Cincinnati –150, Florida+140. The first
thing you start to do is shop. Any serious gambler that
would be betting this game would already be shopping for
the best line. After looking through our many
online sportsbooks
we find a possible scalping situation. We see
sportsbooks
#1 is offering Cincy –165, and Florida +155. After some
more looking we come across another book that is offering
different odds. Sportsbook #2 has Cincy –145, Florida
+135. So what do we do? We have a chance to buy cheap and
sell high. We are going to bet at sportsbook #1 on Florida
+155, and at sportsbook #2 we bet Cincy –145. We now have
bet on both sides on a single event. Sounds kind of crazy,
but follow me here. Let us assume we are going to bet 1000
on the “higher” dog. 1000 on Florida +155. How much do we
get down on Cincy. If we do not do this correctly, we have
a possibility to lose the scalp. I have a formula that
will figure for you exactly how much money to wager on the
–(fav) per 1 dollar you bet on the +(dog). So we bet 1000
on Florida at +155, the ideal number to bet on Cincy is
1.51 dollars for every dollar bet on Florida. So 1510 down
on the Marlins. So lets take a look at both outcomes of
the game.
Bet Win Loss Profit
Florida +155 1000 1550 -1510 40
Cincy –145 1510 1041.38 -1000 41.38
40/2150(total money wagered) = 1.6%
Remember that you must TAKE (T) the higher odds and LAY
(L) the lower odds. The formula is based of off what odds
you can get. In the above example the take (T) odds are
155, and the lay (L) odds are 145.
(T + 1) /( L + 1) x L = amount to lay per 1 dollar bet on
the take odds.
So our take odd is 1.55, and our lay odd is 1.45
(1.55 + 1) / (1.45 + 1) X 1.45 = 1.51
For every 1 Dollar bet at +155, we bet 1.51 at –145.
The next formula is to determine the percentage profit we
are guaranteed.
(T – L) / L (T+2) + 1 = percentage won.
(1.55) / 1.45(1.55 + 2) + 1 = 1.6%
We have concluded that scalping is a way to make money
risk free with
sports arbitrage. So if we see the chance to scalp a game, why
not take it. It’s free money. You are using your brain to
take a small advantage and make a little money from it.
But just how many chances are there to scalp per
day/week/month. Therein lies the hard part. The chances
like the one above are quite rare, but they are out there.
What I suggest is that now we know what to look for, and
what a scalp is, we keep ours eyes open for possibilities.
If we happen to see a possibly scalp, take note of it, and
check it out, then jump all over it. I do not suggest that
anyone reading this article quit his job and try to scalp
fulltime. I just don’t believe there are a lot of
opportunities to scalp. However if while line shopping the
opportunity is there, bet it. From my tracking I have seen
an average of 3 or 4 scalps a week, in baseball. But you
have to have the outs. Having 2 online books is not going
to cut it. Remember buy low and sell high. It is easy
money. My idea is to have the ability to scalp in case the
opportunity occurs and to use scalping as another tool in
your ever growing
sports handicapping arsenal.
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