Sports arbitraging occurs when two different bookmakers offering prices on an event with only two possible outcomes and there is enough of a difference in their prices such that you can back both outcomes and make a profit whoever wins. It's very similar to trading. The difference is that for arbitrage you are betting almost simultaneously with two books offering different prices. Trading is making a profit by backing both outcomes at different times (normally in-running). Arbitraging is sometimes described as risk-free betting, this is true in theory, but not in practice, so carefully read my advice on risk from arbitraging on my website prior to embarking on this pastime.

To succeed at arbitraging, you need to have:-

1. An account with at least 5 and preferably 10 on-line bookmakers (books for short)
2. A reliable computer with broadband internet connection
3. The ability to work quickly with the excel spreadsheet to calculate stakes, and then place bets on two different sites, almost simultaneously. You will definitely need to use some software to calculate your stakes for you. My free spreadsheet does the job nicely, there's examples of the sums on my website, and you can request a free copy on too.
4. Good money management - the ability to keep track of all your bets, and move money quickly from one account to another. A Moneybookers account is the best way to do this.