Sports Betting Q&A
Frequently asked questions about sports betting
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Can you arbitrage sports betting?

Arbitrage sports betting is legal, though it's frowned upon by bookmakers. 

Arbitrage in sports betting is when someone places bets on all possible outcomes of an event at odds that guarantee profit, no matter what happens in the event.

An arbitrage bet is usually possible when there is a discrepancy in odds which would allow for a profit to be made by covering all outcomes. This is done when bookmakers disagree on odds or when there's a mistake in the market.

For example, betting site A has the Indiana Pacers as a -270 favorite to beat the Detroit Pistons, who are a +350 underdog. At site B, the Pacers are at -370 to win and the Pistons are +450. An arbitrage bet would go as follows:

$80 on Indiana -270 for a payout of roughly $110
$20 on Detroit +450 for a payout of $110

The individual is betting $100 total and no matter what happens, the payout will be $10. Of course, the bettor can up the bets for a bigger payout and if you want to turn a larger positive, it'll take time.

Since this doesn't involve knowing anything about sports, it's more of a mathematical approach and is frowned upon by bookmakers. While it's legal and it will lead to positive winnings, it's also a process and one that could eventually get you banned from a sportsbook if you're caught. 

While it looks easy based on the example above, numbers like that aren't easy to find. In order to turn a positive, you have to scope out numerous sportsbooks and find the correct lines so you can make a bet on both sides. 

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More Questions To Read
Can you bet on sports with Venmo?
No, not legally. Most legal sportsbooks around the country won't allow you to make bets with Venmo.
Which states in US have legal sports betting?
As of 2020, there are 21 states (and Washington D.C.) that have legalized sports betting.
Can you bet on sports online?
Yes. But while betting on sports is legal in almost half the states in the country, not all of them allow online wagering.
When was sports betting legalized?
Sports betting was allowed to be legalized at a state level in 2018 after PASPA was struck down.
When will sports betting be legal in Indiana?
Sports betting in Indiana was legalized September 2019 and online gambling launched a few months later.
Is sports betting legal in Indiana?
Yes. Indiana passed a bill to allow sports betting in 2019 and wagering started in October with online betting opening a couple months later.
When will sports betting be legal in Michigan?
Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened March 2020.
Is sports betting legal in Michigan?
Yes. Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened in March 2020.
Is sports betting legal in Virginia?
Yes. Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021.
When will sports betting be legal in Virginia?
Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021.
When will sports betting be legal in South Dakota?
Sports betting is not legal in South Dakota, but residents passed a ballot initiative in the November 2020 election, which means it's on its way.
Is sports betting legal in South Dakota?
No. Sports betting is not legal in South Dakota, but residents passed a bill initiative in the 2020 election.
Is sports betting legal in North Carolina?
Yes. Sports betting is legal in North Carolina, but it's only available at two casinos, which weren't open as of early 2021.
When will sports betting be legal in North Carolina?
Sports betting is legal in North Carolina, but it's only available at two casinos, which weren't open as of early 2021.
When will sports betting be legal in Tennessee?
Yes. Tennessee sports betting was legalized in 2019 and launched in 2020.
Is sports betting legal in Tennessee?
Yes. Tennessee sports betting was legalized in 2019 and launched in 2020.
Is sports betting legal in Maryland?
No. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election.
When will sports betting be legal in Maryland?
No. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election.
Is sports betting legal in Louisiana?
No. Sports betting is illegal in Louisiana despite numerous attempts throughout the last couple years.
When will sports betting be legal in Louisiana?
Sports betting is illegal in Louisiana despite numerous attempts to legalize it the last couple years.
When will sports betting be legal in Iowa?
Iowa legalized sports betting in May 2019, becoming the 11th state to do so.
Is sports betting legal in Iowa?
Yes. Iowa legalized sports betting in 2019, becoming the 11th state to pass a bill.
When will sports betting be legal in Illinois?
Illinois passed sports betting legislature June 2019 and launched at physical sportsbooks March 2020, becoming the 15th state to offer wagering.
Is sports betting legal in Illinois?
Yes. Illinois passed sports betting legislature in 2019 and launched at physical sportsbooks in March 2020.
When will sports betting be legal in Colorado?
Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the governor and then approved by voters.