Betting with different currency on arbs?

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iamtheeggman
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iamtheeggman

Betting with different currency on arbs?
« on: February 03, 2015, 06:12:46 AM »

Please don`t think i`m lazy,i am scanning this forum for all sorts of information and just cant see any info on this

Living overseas but have accounts Using GBP and Also using AUD.... Sometimes Arbs come up using different currency accounts... I am paper trading at the moment until i think i know enough and also decide which alert service to use(thinking bet burger at the moment) I use bet brain for arbs and if you click there calculator you can change the currency of the bookmaker... Now i i`m not sure that the currency calculator is up to speed with current rates. I check using xe.com but would like to know if there is a good calculator out there that will auto update rates or if anybody also has this problem and there solution that they use.

Thanks

Eggman
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iamtheeggman
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iamtheeggman

Re: Betting with different currency on arbs?
« Reply #1 on: February 03, 2015, 06:20:31 AM »

Reply in one day from bet brain which is pretty good as i`m not a fully paid up member




"Thank you for writing us!
Indeed you can calculate Surebets even when the account currencies are not identical as you have said.
Please note we update exchange rates hourly from the European Central Bank. While you may at any time change the currency settings, the default values will be those set by you at My Bookmakers.
If you need our further assistance, don't hesitate to contact us!"

So thats not too bad

Anyway would still like to hear peoples advice and how they get around this

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Lliane
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Re: Betting with different currency on arbs?
« Reply #2 on: February 03, 2015, 11:47:29 AM »

Basically it depends on your expected profit and timeframe, if you aim to profit 0.10% on a short term trade (10 bps), the exchange rate variation can affect what your payoff will be (make it zero or negative or double it).
If you have a longer timeframe (let's say 2 weeks for an arb on a competition winner for instance), you may need to adjust your hedge due to variations of the exchange rate (once again you can win or lose money depending on the outcome and the variation of the exchange rate).
Having a bankroll partly in GBP, partly in AUD will anyway expose you to variations, but if you are a good arber aiming at double digit profit monthly on your bankroll this should be no more than noise long term.
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