Bookies closing accounts - The Punters Lounge

Ferru · 19-01-2008, 16:28

I had considered getting into arbitrage, but my concern is that if I get good at it, and start betting large amounts, the bookies will close my accounts. How successful do you need to be before your accounts get closed, and is there a way around it (such as opening up an account using a false name - or would that be illegal?)?

Regards

Jeff

cecil_fan · 18-03-2008, 16:08

People all round the world manage to place "arbs" so its prob a case of tons of accounts (something u need anyway). Ideally bookies such as Pinnacle would be used (take huge bets + dont mind winners). Believe it or not but W.Hill are supposedly "arb" friendly

. Exchanges are another obvious answer BUT dont 4get the commission.!!

friskyfitz · 19-03-2008, 08:51

One lesson that you must understand is that to ARB you must be able to place both bets almost simultaniously.

It happens that you could get 1 half placed and the other changes price so you cant get the arb before the bet is down.

Minimum bet restriction can also play havoc.

The only really truely successful long term arbing is by backing and laying on exchanges.

Unfortunately, there are too many pitfalls overall to make arbing long term successful and you will find that you will get caught many times.

Try it for small stakes and see. You'll have no problems matching at small stakes but you will then see the potential downfalls.

friskyfitz · 19-03-2008, 08:53

Most important line here is...

ARBING is NOT RISK FREE - far, far from it

Mr Intensity · 19-03-2008, 21:35

Should that not be "if it's not risk free it's not arbing"?

Shangamuzo · 20-03-2008, 10:08

Its like everything else now there's too many at it and so there's not a lot to go around.
You could try laying your mates at work on their footy bets a bit shorter than whats available on the exchanges-they very largely bet with bookies-but technically that would be illegal.

And has been pointed out the exchanges charge commissions on winners.

19-01-2008, 16:28	#1 (permalink)
Ferru Newbie Punter Join Date: 02 Feb 2006 Posts: 20	Bookies closing accounts I had considered getting into arbitrage, but my concern is that if I get good at it, and start betting large amounts, the bookies will close my accounts. How successful do you need to be before your accounts get closed, and is there a way around it (such as opening up an account using a false name - or would that be illegal?)? Regards Jeff

18-03-2008, 16:08	#2 (permalink)
cecil_fan Banned Join Date: 18 Mar 2008 Posts: 71	Re: Bookies closing accounts People all round the world manage to place "arbs" so its prob a case of tons of accounts (something u need anyway). Ideally bookies such as Pinnacle would be used (take huge bets + dont mind winners). Believe it or not but W.Hill are supposedly "arb" friendly. Exchanges are another obvious answer BUT dont 4get the commission.!!

19-03-2008, 08:51	#3 (permalink)
friskyfitz Modest + Well Hung Punter Join Date: 22 Jul 2003 Location: Middle Earth Age: 35 Posts: 15,756 Awards Showcase Total Awards: 3	Re: Bookies closing accounts One lesson that you must understand is that to ARB you must be able to place both bets almost simultaniously. It happens that you could get 1 half placed and the other changes price so you cant get the arb before the bet is down. Minimum bet restriction can also play havoc. The only really truely successful long term arbing is by backing and laying on exchanges. Unfortunately, there are too many pitfalls overall to make arbing long term successful and you will find that you will get caught many times. Try it for small stakes and see. You'll have no problems matching at small stakes but you will then see the potential downfalls. __________________ When I was born, I was given a choice! A Big cock or a great memory - Ive forgotten what I chose!

19-03-2008, 08:53	#4 (permalink)
friskyfitz Modest + Well Hung Punter Join Date: 22 Jul 2003 Location: Middle Earth Age: 35 Posts: 15,756 Awards Showcase Total Awards: 3	Re: Bookies closing accounts Most important line here is... ARBING is NOT RISK FREE - far, far from it __________________ When I was born, I was given a choice! A Big cock or a great memory - Ive forgotten what I chose!

19-03-2008, 21:35	#5 (permalink)
Mr Intensity Mens Doubles Punter Join Date: 21 Dec 2003 Location: Newcastle upon Tyne Age: 24 Posts: 9,436	Re: Bookies closing accounts Should that not be "if it's not risk free it's not arbing"? __________________ I use statistics much as a drunken man uses lamp-posts - as support rather than illumination. (Andrew Lang) Everyone thought Einstein was crazy until he started kicking ass.

20-03-2008, 10:08	#6 (permalink)
Shangamuzo Newbie Punter Join Date: 08 Jun 2007 Posts: 7	Re: Bookies closing accounts Its like everything else now there's too many at it and so there's not a lot to go around. You could try laying your mates at work on their footy bets a bit shorter than whats available on the exchanges-they very largely bet with bookies-but technically that would be illegal. And has been pointed out the exchanges charge commissions on winners.

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