Can arbing be profitable in the USA?

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scrambler803
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scrambler803

Can arbing be profitable in the USA?
« on: October 02, 2015, 08:19:21 AM »

Hello, I'm brand new to the forum and new to the arbing world. I've read a lot of posts on this site, especially things posted in the Newbie forum in the last 12 months.

Can anyone answer for me if arbing is profitable in the USA? It seems there are many bookies I won't have access to, e-wallets I might not be able to use, etc. From my limited understanding, (as of 2015 in California) placing sports bets offshore is not illegal or prosecuted. So it seems I'm in the clear for participating in arbing, with the aforementioned limits on opportunity.

Is anyone here living in the US and successfully turning a profit? I apologize if this has been answered here before. I searched, skimmed, and read til my eyes bled, but I might have missed it.  :o
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dealer wins
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Re: Can arbing be profitable in the USA?
« Reply #1 on: October 02, 2015, 03:03:50 PM »

Unfortunately the USA is about the worst place to live on the planet when it comes to using online books.
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scrambler803
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Re: Can arbing be profitable in the USA?
« Reply #2 on: October 02, 2015, 10:31:58 PM »

Unfortunately the USA is about the worst place to live on the planet when it comes to using online books.


That's what I was afraid of. But where there's a will, there's a way. I don't feel like I've exhausted all my options yet.

You are from USA and for example a lot of people here is from Europe. You may have bookies that in Europa are not available and arbitrage between this 2 markets are easy to find. So you can find people on this website who would work together with you. Truly I do not know what bookies are available in your country,so I wrote you just an idea


From what I've read, there are no online bookmakers in the United States. The only place one can legally bet on sports in the US is Native American owned casinos or Vegas.
However, I came across an interesting bit about the legality of online bets here:

http://www.americanbookmakers.net/legal.html

The info implies that the off-shore bookmakers listed cater to American markets. Has anyone had any experience with
Bovada
Betonline
Bookmaker
?
Also, it seems Neteller might allow USA residents to sign up for an e-wallet. (I didn't complete registration yet, but it looked promising)

And here's an idea that is obviously impractical, but hypothetically what about laying bets off-shore, and backing bets in person in Vegas (or vice versa)? It might be very worthwhile if there are large enough odds discrepancies between in-person bets and off-shore bets.
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Rudolpho
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Re: Can arbing be profitable in the USA?
« Reply #3 on: October 02, 2015, 10:55:27 PM »

I've heard of stories that US citizens rent a closet in Canada (yes - a closet, not even a room or apartment) and place there a super stable pc with internet connection. Then there's just a matter of TeamViewer kind of software and you're good to go :)
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ajeto
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Re: Can arbing be profitable in the USA?
« Reply #4 on: October 03, 2015, 03:11:25 AM »

Anyone knows street betting in Vegas? Possible? Limits? Companies? Any internet link to see odds or bookies/casinos in Vegas?
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Arbusers
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Re: Can arbing be profitable in the USA?
« Reply #5 on: October 03, 2015, 06:35:27 AM »

If you want to stay legal you must use only the options that the US law allows you to use. What are these options? I suppose only US based casinos.
Anything else will be based on ''acrobatics'' that could bring you in the illegal side.

The only viable and legal way to arb for a US citizen is to move abroad to a gambling friendly country (i.e the UK and Austria) and then declare your winnings to your US taxman.
An other solutions would be to get rid of the US citizenship, adopt a new one and start arbing from your new country.
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Rudolpho
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Re: Can arbing be profitable in the USA?
« Reply #6 on: October 03, 2015, 09:19:03 AM »

An other solutions would be to get rid of the US citizenship, adopt a new one and start arbing from your new country.
Well that would be stupid. People are waiting in line for several years to get citizenship. :D
10 years ago - maybe, 20 years ago - sure you'd have to do that. But now, when arbitrage betting is slowly dying? No.
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Arbusers
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Re: Can arbing be profitable in the USA?
« Reply #7 on: October 03, 2015, 11:21:36 AM »

An other solutions would be to get rid of the US citizenship, adopt a new one and start arbing from your new country.
Well that would be stupid. People are waiting in line for several years to get citizenship. :D
10 years ago - maybe, 20 years ago - sure you'd have to do that. But now, when arbitrage betting is slowly dying? No.

Fact: The US is the only OECD country that taxes its people regardless of where they live on the planet. To the IRS, a US person is anyone with US citizenship or permanent residence. The reason the number of US citizens who renounce their citizenship is increasing recently is because FATCA was passed quite recently and has only been in effect since mid-2014. Google FATCA and you will read many stories of former US citizens who select a new nationality. Greece will be the 2nd, if the EU/Greek deal of July 2015 is implemented.
Indeed arbitrage betting is slowly and quietly dying. But what if someone finds the golden goose? How many of us found this goose? Will you get rid of a fortune just to hold a citizenship? And for God's shake, how much is a citizenship worths?
Many of those who know me personally also know my opinions/ideas about civilization, religious matters and life attitude, but when it comes to motherland/la patrie/родина/πατρίδα call it as you like, my opinion is that motherland is the one that offers you more and not the one that steals you more.
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TjTaker
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Re: Can arbing be profitable in the USA?
« Reply #8 on: October 03, 2015, 11:31:40 AM »

I can't accept the fact that arbitrage betting is dying.
And then? We die too?
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Arbusers
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Re: Can arbing be profitable in the USA?
« Reply #9 on: October 03, 2015, 11:33:37 AM »

I can't accept the fact that arbitrage betting is dying.

The classic arbitrage betting as we knew it in the 2000-2010 period is indeed dying. Other smart gambling techniques that includes arbitrage are indeed emerging.
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Rudolpho
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Re: Can arbing be profitable in the USA?
« Reply #10 on: October 03, 2015, 11:53:02 AM »

I'm not basing my opinion on a national scale, you're right. I have relatives and friends there that makes my opinion. That is if you are doing well in arbitrage betting, then you must be quite right in your head, so it would not be so hard for you to be successful in USA doing something else. It's not a land of fortune anymore as many might still think, but there's a lot more opportunities than anywhere else(again - just my opinion).
You're talking about fortune, but the guy said himself that he's new to arbitrage betting etc, so my opinion remains the same - it would be stupid for him to do that. He should learn, explore opportunities and then as a last resort when "he's found a potential fortune" he might give up his citizenship.
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raizzak
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Re: Can arbing be profitable in the USA?
« Reply #11 on: October 03, 2015, 01:03:53 PM »

I can't accept the fact that arbitrage betting is dying.

The classic arbitrage betting as we knew it in the 2000-2010 period is indeed dying. Other smart gambling techniques that includes arbitrage are indeed emerging.

the 2000-2010 arbitrage is not dying but it is already dead, on the 2nd part sure i definitely agree
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ajeto
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Re: Can arbing be profitable in the USA?
« Reply #12 on: October 03, 2015, 02:35:22 PM »

Probably US citizens pro gamblers move to Costa Rica or Canada and play from there, there must be some street options in Vegas. I doubt any of these are paying any taxes to US. At least your winnings in Vegas are not taxable, so far as i know. Like other said, a pro-gambler/arber in Vegas or US will probably need someone in arbing friendly country to do business together.
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qbet
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Re: Can arbing be profitable in the USA?
« Reply #13 on: October 03, 2015, 09:16:07 PM »

I think  if you  could find an agent that accepts US players you could try but it's not gonna be easy without the European books.
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scrambler803
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Re: Can arbing be profitable in the USA?
« Reply #14 on: October 03, 2015, 10:31:54 PM »

Probably US citizens pro gamblers move to Costa Rica or Canada and play from there, there must be some street options in Vegas. I doubt any of these are paying any taxes to US. At least your winnings in Vegas are not taxable, so far as i know. Like other said, a pro-gambler/arber in Vegas or US will probably need someone in arbing friendly country to do business together.

So far this seems like the most doable idea. I don't live too far from Vegas. I might take a little trip and scope out the scene. If it checks out and there are significant arb opportunities to be had, it could be worth the hassle. The obvious drawbacks would be TRUST between the two parties, and splitting profits. Despite that, it's not a half bad idea.

And renouncing my citizenship isn't a terribly appalling idea. But if opportunities for arbing are indeed dying, it would be a pretty dumb move on my part.

The classic arbitrage betting as we knew it in the 2000-2010 period is indeed dying. Other smart gambling techniques that includes arbitrage are indeed emerging.
Any word on what these other techniques are called? I'd like to research them as well.
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