Arbitrage opportunities in cryptocurrencies and sports betting markets
Arbitrage opportunities are created in any trading markets when you can play the exchange one against the other and through opposite tradings or betting you are getting a profit regardless of the outcome. If the price difference between BUY and SELL is good enough counting also any fees or taxes to be applied to the profit, than you can take a win from either side.
Cryptocurrency arbitrage between Uniswap and Hive-Engine for LEO tokens
With the launch of LEO on Uniswap there is an arbitrage opportunity between that and Hive-Engine or LeoDex. Being two separate exchanges those move in their rhythm and could create a gap at some point between the prices. At the same time if somebody sets an order on the market and leave it on and if the market on the other exchange moves faster, it can create the opportunity to grab a profit as well. Taking a peak between Uniswap LEO price of $0.24 while on Hive-Engine there is a price of $0.198. This creates an opportunity for arbitrage, although you need to take into consideration also the gas fees for trading in and out of Uniswap and the available supply on each exchange when doing the trading.
Sports betting arbitrage on same sportsbook/exchange (Betfair)
As I like sports and I often bet on football, there are arbitrage opportunities also in this industry. You can compare the odds between two bookmakers to find such cases and as well on the same bookmaker if you can believe it. In my case I found an arbitrage opportunity on same bookmaker - Betfair. How did it happen someone can ask? Let's reveal that in a second.
Betfair is running a promotion on their Sportsbook where you can boost a price for one bet a day. Todays is Europa's League and I've chosen to boost the price on Malta to win from 1.65 to 2.00 odds. Thus I have put a bet of 50 Euros @ 2.00 for Malta to win.
In the same time I went to Betfair Exchange - the part of the site where bettors are betting against each other and the house takes just a percentage from one's profits, but gives better odds. There I have found that betting against Malta (Lay bet as we call it) the odds were @1.75. There is a fee in case of profit that I need to pay of about 6.25%. I have used a back/lay calculator to calculate my arbitrage opportunity using TrickyBet.
After the results were shown, it seems that I can make 5.50 Euro from this arbitrage opportunity. It remained for me just to lay 60 Euro against Malta to win on Betfair exchange and that was all that was needed.
I would say that making 5.50 Euros for a 15 minutes job it is not so bad. Arbitrage opportunities are created in a competing market when some of the exchanges fall behind on the market moves and this can happen in any markets like cryptocurrencies or sports betting as well. You just need to keep your eyes open, do your calculations before making the move and acting in time and in the right order (where liquidity is less) in order to make it happen.
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https://twitter.com/behiver1/status/1327602762432045056
It is actually weird that I've never done this with crypto as I did this regularly with services when I worked as a freelancer. Even though it wasn't the same thing, it still works the same. Buy low - sell high.
The sports thing is really cool though, I'm not into that either but one of my friends has recently started to put in a lot of efforts into that. He has made hundreds of dollars already, so it's obviously tempting..
Thanks for sharing!
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Yes, while not very often when the time comes you can grab some assured profits with arbitrage. I am a slow better (high stakes, low odds) and watching for market moves is a usually thing for me. At the same time on sites like Betfair you can trade before even the game starts if markets move into your direction (players are betting against each other on the BF Exchange).
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A couple of years ago, I was a bit fan of sports arbitrage betting... Ok, maybe it was a bit more than a couple of years... lol... But, "offline" betting was very popular, and online betting was starting... There were tons of great arbitrage opportunities as odds were changing "slower", so you could find some real gems... I lost interest when the margins got smaller, but it looks that it still can work...
Good job with 5.5 EUR... Easy money... ;)
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Yeah, I remember some arbitrage opportunities in London, UK either with horses or football. A world in the changing and someone with the Tech and Internet knowledge could benefit of it.
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I'm banned from a whole chunk of online sports bettings sites for arbing.
Turns out that loading up on women's volleyball margins in the middle of the night raises red flags with their risk teams.
Fuck bookmakers.
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You should try Betfair Exchange if you want as it is aside from a Bookmaker. The players bet against each other and this is how the market is formed and you can trade out at any point even before the game if the odds move in your direction. It can be more like trading than betting if you know what you are doing.
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Ah yep, I love Betfair. But... I'm also banned from Betfair because in Australia there are laws restricting 'in-play betting' and they think I used a VPN (I didn't...).
Such a mess haha.
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