Each way arbing for matched betting profits.
Before we get started with this each way arb matched betting guide i just want to say that it is an advanced matched betting guide, if you are new to matched betting i would advise that you first try out our basic matched betting guide which will teach you how to place your first matched bet.
Each way arbing can be a very profitable technique that when used correctly will allow you to take in decent guaranteed profit or risk free shots at even bigger profits. For it to work we generally need a specific set of situations to be happening in the build up to a race, these races are known as bad each way races. Bookmakers know all about bad each way races and each way arbing and really do not like it so it is always better to do this on gubbed accounts that you want to try to squeeze as much value out of as possible.
What is a bad each way race?
A bad each way race happens when a certain set of occurrences happen with a horse race, these are as follows.
- The race needs between 9-15 horses running ideally.
- There must be a strong favourite or two, decimal odds 1-3
- A small handful of mid odds horses, decimal odds 8-16
- A lot of outsiders that do not really stand a chance of winning, decimal odds 30+
The reason that this creates what we call a bad each way race is because going of the odds for the win there are only one or two horses that are likely to win this race and so the other horses are priced accordingly. However there is a strong chance that any of the outsiders could place each way in the results, unfortunately for the bookmaker they derive their each way odds from the odds of the horse to win and not for its chance to place! We as matched bettors and value takers however have the option to lay the win part of the bet and the each way part of the bet independently on our betting exchanges.
An example of a bad each way race.
Right lets take a look at what a bad each way race looks like in the flesh.
It was not possible to fit all of the race card into the screen shot but there was another horse at decimal odds of 151, this is perfect to find some each way arbs. Notice how there is a very strong favourite horse and a few mid range ones followed by some very high odds outsiders! Now that we have found our bad each way race it is time to place our back and lay bets.
How to place a bad each way arb bet.
There is a variety of ways that we can find an each way arb from this race. We could use software from a matched betting subscription such as Oddsmonkey who have a brilliant tool called the each way matcher which finds the arbs and calculates the correct stakes for you, or we can do it manually. In this guide i shall show you how to do it manually because it is a good skill to have and is usually better because of the fast paced nature of matched betting on horse races.
First off we need to know how to work out the each way odds of a horse on the bookmakers website which in this example is William Hill. I will use the horse Ingleby Hollow from the screen shot above, which as you can see is decimal odds 17. To work out the place odds we need to find the each way terms that are usually at the bottom of the race card
This tells us that there are 3 paid places in the race 1st, 2nd and also 3rd, it also tells us that the place part is paid at 1/5 of the win odds. We know the win odds of our horse Ingleby Hollow are decimal 17 so now we do a simple sum to work out the place odds, this sum is : decimal odd (17) – 1 = 16 /5 (place payout) = 3.2 + 1 = 4.2 so the odds at the bookmaker for this horse to place are decimal 4.2 now we shall check what the lay odds are on the place market at Betfair exchange.
As you can see above the place odd to lay at the exchange are 3.45 this is a huge arb compared to the 4.2 odds given by the bookmaker! lets now run these odds through the Oddsmonkey matched betting calculator to see what profits we can expect.
Remember that when you place an each way bet at the bookmaker you are actually placing two bets, one on the win and one on the place, so for a £50 each way bet you are actually staking £100. In the above calculation i have gone for this eaxt stake and what is shown here is the £50 part of the total stake with the back and lay odds of the place part of the each way bet. We can see that with the 4.2 odd given by the bookmaker and the 3.45 odds given as a lay on the exchange we could take a guaranteed profit of £8.69, or if we feel confident about the horse placing in the race we can underlay the lay bet for a risk free shot at £31.06 profit!
Now we have layed the place part of the bet we need to do the same for the win part of the bet, again your stake will be half of the total stake you placed on the bet at the bookmaker, in this case £50. Please bare in mind that often the lay bet for the win part of the bet can be a little out especially if you look way before the race starts, I find it best to wait until closer to the start of the race to match up the lay for the win part of the bet.
It really is as simple as that, however i would suggest maybe paper trading first until you get the hang of the each way arbing technique as mistakes can be very, very costly with the stakes that are involved. Take your time before placing any real money and make sure you fully understand the guide first.
Hopefully this bad each way arb race guide has helped you get an understanding of this technique and if it has please think about subscribing by email to receive notifications of the release of new matched betting guides from Oddssmasher!