Hello everyone, this is my first post to the forum so I hope to get to know you guys better!
Basically I am leading a software development team in third world country, and we have decided to build an automated arbitrage betting software which will (most likely) utilize the Mollybet platform offered by BetInAsia and other similar betting brokers. As the software keeps advancing i plan on incorporating a scraper which will 24/7 scrape a huge lists of casinos and apply simple algorithms to find arbitrages (maybe even triangular?).
So first of all, I would love if someone with such experiences can comment on this, or maybe point me to some cool threads that I can look on at this forum.
A few questions of mine:
What are the top indicators that someone is doing arbitrage betting? And should I be worried about them since basically BetInAsia promotes themselves as "arbitrage friendly"?
Are there any trials/test accounts for software similar to MollyBet that can be tested and maybe serve as a foundation for my software?
Would it be better to execute arbitrages that are close to ending? Meaning to bet only on games that are 1-2 hours away
OR
Just take the amount that I am willing to invest in a day and separate it evenly between 4-5 arbs daily?
OR
Focus exclusively on live arbitrage opportunities?
Would anybody mind explaining the Arbing team concept to me- essentially a group of arbitrage bettors that just do the same?
Which concept do you guys find more applicable to the situation - arbitrage vs matched betting?
Has anyone tried + can recommend skype betting? I saw that they offer "no void" gurantee so this seems pretty convinient.
How hard would you rate this adventure to be?
If anyone has any ideas or questions or anything that has to do with the topic of arbitrages and automation - I would be glad to help!
Cheers!
Automated Arbitrage Betting 101
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arbusers
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- Karma: 626
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Re: Automated Arbitrage Betting 101
I was wondering what is the 3rd world country you are referring to.
I believe you are referring to cross markets arbs when you use the word triangular. If not, then specify.
You can use the search button for the sexy threads of the forum.
BIA and the mollybet platform are indeed arbitrage friendly cause they have nothing to lose from it. However, some of the exchanges and bookmakers they offer are not that much friendly. For example, Singbet, and lately Orbit exchange do not show good signs.
You can start an account with any broker and then test your software without depositing any funds. But, I believe nothing compares to the real thing, and you should deposit a minimal amount of money and test everything in real life.
If your funds are inadequate, then you should be focusing on events that will start in the next 1-2 hours, but if you have surplus of funds, then you should search for efficiency. Our member Campeones explains that very well here: us-elections-2024-t9415/96855#p96855
Live arbitrage opportunities means that your algorithm is mature and capable enough to take advantage of them. If this is the case then you should exploit live arbing as more as you can, because it helps with the longevity of your accounts.
I am not sure if I understand it correctly, your post is not that clear actually, but if you are thinking doing arbitrage using brokers only, this is a Herculean task. It can be done, but it is very difficult and the opportunities are rare. Most barbers separate their accounts into 2 parts. Part1 is the sharp bookmakers/exchanges (Betfair, Pinnacle, Matchbook, etc), Part2 is the soft side (WillHill, Bet365, etc)
Matched betting makes no sense these days. Yes, it is good as starting point and for educational reasons but if you are looking for the big money you must move further to what is called Value Betting. See more: https://www.youtube.com/watch?v=-FzFvB7-Pys&t=1s
Skype betting comes with significant delays. I m not sure if any software would be compatible with it. People use Skype betting when they have enough time and when they want to make sure that a bigger bet will accepted.
This is a heavy task. There are other softwares already dominant in this market and bookmakers are getting uglier day by day.
If you have more questions go on shoot them, but be very specific and detailed t what you ask.
We all want any project to succeed.
Good luck
I believe you are referring to cross markets arbs when you use the word triangular. If not, then specify.
You can use the search button for the sexy threads of the forum.
BIA and the mollybet platform are indeed arbitrage friendly cause they have nothing to lose from it. However, some of the exchanges and bookmakers they offer are not that much friendly. For example, Singbet, and lately Orbit exchange do not show good signs.
You can start an account with any broker and then test your software without depositing any funds. But, I believe nothing compares to the real thing, and you should deposit a minimal amount of money and test everything in real life.
If your funds are inadequate, then you should be focusing on events that will start in the next 1-2 hours, but if you have surplus of funds, then you should search for efficiency. Our member Campeones explains that very well here: us-elections-2024-t9415/96855#p96855
Live arbitrage opportunities means that your algorithm is mature and capable enough to take advantage of them. If this is the case then you should exploit live arbing as more as you can, because it helps with the longevity of your accounts.
I am not sure if I understand it correctly, your post is not that clear actually, but if you are thinking doing arbitrage using brokers only, this is a Herculean task. It can be done, but it is very difficult and the opportunities are rare. Most barbers separate their accounts into 2 parts. Part1 is the sharp bookmakers/exchanges (Betfair, Pinnacle, Matchbook, etc), Part2 is the soft side (WillHill, Bet365, etc)
Matched betting makes no sense these days. Yes, it is good as starting point and for educational reasons but if you are looking for the big money you must move further to what is called Value Betting. See more: https://www.youtube.com/watch?v=-FzFvB7-Pys&t=1s
Skype betting comes with significant delays. I m not sure if any software would be compatible with it. People use Skype betting when they have enough time and when they want to make sure that a bigger bet will accepted.
This is a heavy task. There are other softwares already dominant in this market and bookmakers are getting uglier day by day.
If you have more questions go on shoot them, but be very specific and detailed t what you ask.
We all want any project to succeed.
Good luck
- mrJustice
- Has experience
- Karma: 5
Post
Re: Automated Arbitrage Betting 101
MollyBet might ban you because in their terms & agreements they state that they don't allow scraping their site.
- mrJustice
- Has experience
- Karma: 5
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arbusers
- Administrator
- Contact:
- Karma: 626
- mrJustice
- Has experience
- Karma: 5
Post
Re: Automated Arbitrage Betting 101
I think only alert services are dominant in this market, There is not a single automated betting service which is publicly advertised, at least I am not aware of any. I understand that some bot developers don't want to get unnecessary attention from the bookies and prefer to stay hidden. But I think that a bigger reason why there are no publicly available bots is because it is very difficult scale them. BetBurger tried that with their BetWasp product but even they failed and no longer offer automated betting features
- ciphercipher1
- Gaining experience
- Karma: 0
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Re: Automated Arbitrage Betting 101
So quick update for those interested. I actually recieve lower odds in the API than the actual mollybet site. I have contacted them -lets see what will come.
The other thing i tought was to make some rules like the program will take the first odd from a bookie which will have to always be above 1.9 and then place a LAY bet on the same event but in exchange. Basically will be aiming for smth like 1-1.5% bet per trade - so basically calculate what the sum might be and place an order for the given odds. Hopefully it gets matched. Maybe it will loop through the bet status and if it is no placed 15-30 minutes before the event - It will send a cancel request.
To illustrate
We place a bet on Odd/Even on Team A vs Team B
Yes - 1.96 (should aways be 1.90+)
No-1.88542
The program will take whatever is higher from those 2 - then it will place order on the exchanges. To get 1.5% the Lay Bet odds should be 2.105 . So make an algo that calculates the second , place the order request on the exchange and hopefully get matched.
Dont really know if this is a good idea. I am open to crtisism and stuff. Thanks for reading
The other thing i tought was to make some rules like the program will take the first odd from a bookie which will have to always be above 1.9 and then place a LAY bet on the same event but in exchange. Basically will be aiming for smth like 1-1.5% bet per trade - so basically calculate what the sum might be and place an order for the given odds. Hopefully it gets matched. Maybe it will loop through the bet status and if it is no placed 15-30 minutes before the event - It will send a cancel request.
To illustrate
We place a bet on Odd/Even on Team A vs Team B
Yes - 1.96 (should aways be 1.90+)
No-1.88542
The program will take whatever is higher from those 2 - then it will place order on the exchanges. To get 1.5% the Lay Bet odds should be 2.105 . So make an algo that calculates the second , place the order request on the exchange and hopefully get matched.
Dont really know if this is a good idea. I am open to crtisism and stuff. Thanks for reading
- ciphercipher1
- Gaining experience
- Karma: 0
Post
Re: Automated Arbitrage Betting 101
Apparently those guys have some fees which are reflected on the final odds on the API. Thats why it is a strugle to find arbs...
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