im just thinking it might be safer to wait like 5 minutes after the arb is discovered, until you place the bet, than to do it the second it shows up.
giving the bookie time to correct bad odds, resulting in less voids.
how do you guys do this? wait, or just go at it right away? (after considering the normal stuff, if its obvious errors)
There is no real point to doing that, unless you are specifically trying to be the only person placing the arb and are wanting to assess whether a competitor is running software or searching that particular market.
But for arbs on the major markets, other people are going to bet them anyway so you may as well get in quick before the bookies catches up with the market.
If you are talking about bad lines/palps then it doesn't matter "when" the bookies discovers it - a palp is a palp and you have to decide for yourself whether you want to risk it.
Many bookmakers take a dim view of customers betting palps - Olympic/thegreek - for example. The result has been lower limits and/or account closures.