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Miraclebet


Miraclebets are a particular case arising on betting markets due to either bookmakers' different opinions on event outcomes or plain errors. By placing one bet per each outcome with different betting companies, the bettor can guarantee to make a profit. As long as different Bookmakers are used for betting the Bookmakers do not have a problem with this.

A typical Miraclebet is around 5%, sometimes less, however 5%-10% are also normal and during some special events they might reach 20%.

In practice, finding these overlaps takes an enormous amount of luck or significant computational power. You'd need to analyse millions of odds with different bookmakers before you found any guaranteed profit.

Below is an explanation of a Miraclebet, including formulas associated with them. The table below introduces a number of variables that will be used to formalise the model.

Miraclebets takes advantage of different odds offered by different bookmakers. Assume the following situation:

We consider an event with 2 possible outcomes (e.g. a tennis match - either Federer wins or Henman wins), the idea can be generalized to events with more outcomes, but we use this as an example.

The 2 bookmakers have different ideas of who has the best chances of winning. They offer the following Fixed-odds gambling on the outcomes of the event

For an individual bookmaker, the sum of the inverse of all outcomes of an event will always be greater than 1. and


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