As a bettor, we would always like to place a winning bet. However, there are only so many times that I can guess the outcome of a match or an event correctly. What if I want to place my bets on both possible outcomes of an event, like a game of cricket or football. Can I bet on both teams to win?
Read on to find out.
Can I bet on both teams to win?
Yes, you can place bets on both teams to win. Also known as arbitrage betting, it is a technique in which you take advantage of the difference in odds offered by different bookmakers for the same event. They are also known as sure bets or miracle bets.
Arbitrage opportunities exist because different bookmakers have different odds for a particular event to occur. In order to be good at arbitrage betting, or ‘arbing' as it is commonly known, you need to quite a bit of research in order to find bookmakers who have a substantial difference in odds for the same event.
The profits, although guaranteed, are usually a very small percentage of your initial bankroll. So you need to place either a substantially big bet for both outcomes or place multiple bets in a day to earn a decent amount of cash.
One of the commonest ways to do arbitrage betting is to place a bet with a reputed bookmaker and betting against the same event on a betting exchange.
Another way of placing bets on both outcomes of a game is known as matched betting. Also known as back/lay betting, it takes advantage of the free bets promotions offered by many online bookmakers. You place equal bets on both possible outcomes of a match, while you will lose a small percentage of your initial bankroll, you will receive free bets in your account. And now using those free bets, you can again do matched betting.
Like arbitrage betting, the profits earned are small but guaranteed.