Definition
Backing every side of a market at different sportsbooks at prices that, together, are priced below 100% — locking in a profit no matter the result. True arbs are brief and rare because sharp books correct fast, but they surface when two books disagree after a line move.
Related terms
- Middle — Opposing bets at two lines with a gap between them, so a result in the gap (e.g. Over 7.5 and Under 8.5) wins both legs.
- Fair Price / No-Vig Price — The market price once the bookmaker margin (vig) is stripped from both sides so they sum to 100%. The honest break-even line an edge is measured against.