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As per my understanding, it is a strategy in which you can bet on all possible outcomes of an event and make your money no matter the outcome. I also understand that it requires careful research and analysis to identify suitable opportunities and place bets at the right time.

I have also read that it is a low-risk betting strategy because a gambler can place bets on all possible outcomes with a guarantee to win regardless of the outcome of the event. Whereas, the profit margins are usually small, and it does take a significant amount of time and effort to identify suitable opportunities.

My question to everyone here is how to increase the profit margin. Does the profitability depend on the betting events you chose for example if I chose sports then which sports should I bet on? I know from my previous topic On which Sports do you like to bet apart from the listed one here? (https://bitcointalk.org/index.php?topic=5446777.msg61998665#msg61998665) that soccer is the most sort after sport or go for another game.  

Do you want to get banned from several sportsbooks? gambling arbitrage is not allowed in any sportsbooks because you're trying to find a loophole where you will always make money, gambling is risking your money to make money. It's better to gamble without need to think about find a loophole, if you want to maximize your profit, you can join a sportsbook promotions e.g. odds boost, risk free etc.

This type of gambling activity requires a lot of time (because you have to keep up with the odds), large capitals (since each win is generally a few percentage points and you have to use several crypto books).

Furthermore, casinos that notice this activity can... simply ban you!

I have never considered it as an activity and would not suggest anyone to undertake such an activity given the inherent risk.

As far as I understand arbitrage gambling is not actually illegal, but bookmarkers quite hate this practice. This practice maybe can provide profits to gamblers, but the problem is that our accounts can be threatened with being frozen or our bets being canceled unilaterally due to fraudulent practices. I have never tried this kind of arbitrage technique because I think it is a laborious practice because we have to monitor more than one bookmarkers and I think it is not efficient.

Gambling arbitrage is rare but if you found an opportunity then grab it. Keep in mind that gambling arbitrage won't make a big proift without a big amount of capital and choosing what sports you should bet my guess is also soccer.

I thought that only trading altcoins could do arbitrage, it turns out that gambling can be done too, but I don't really understand the concept and maybe such things are prohibited by gambling sites, after all, not many people talk about this and use this method for gambling, especially maybe this method too risky, I'm not used to using unknown methods to test it, I don't think many people use this method either, so you should never try it

I do not know much about other sport, but in football, I do not know how arbitrage betting can be helpful because there are three outcomes which are win, draw or loss. If choosing arbitrage, it would result to loss in football, also because the odds are low. But in sport bets that the outcome is win or loss, possibly arbitrage betting may be helpful, just like in tennis. I can see it helpful more in casinos games like Roulette and others where the outcome can be three but with a very high odds, just like my favorite Roulettes.

If a casino notice that you are doing arbitrage betting, one of the bets that favours you may be cancelled while losing the other, you account may be banned from using their betting platform again. Arbitrage betting is not illegal, but gambling sites do not like it. You account may be banned because people that go for arbitrage betting can go to the extent of having multiple accounts on the same betting platform, while most gambling sites frown against arbitrage betting and having multiple betting accounts on their betting platform.

Yes, not legal.

However, it's up to the "sportsbook" did they accept arbitrage bet or not. Most of sportsbook 99% banned these activity, so even in law it's legal but since they provided the service it's up to them to make prohibited.

These scheme only a drain money from casino, it's not benefit them at all and only for the user. So, no one casino are gonna to accept this on their site even it's legal on law.

I’ve done this when live betting on sporting events. Basketball games especially can have wild swings in the score early in a game. It isn’t uncommon to have the ability to live bet when the odds change so that you are a winner no matter what the outcome is. It’s somewhat rare for me to do this though, because I’m rarely able to gamble while watching games.

This is a good strategy but casinos will not accept it because they know that they will run at lost. If you are caught in this action, you will be banned by the casino and your account will be frozen. This is why using this strategy will lead you to more loss because you will have good amount to stake on the games and it will lead to your ban by the casino.

It is better that we see gambling as fun and not a medium to make profit or to see it as a life changer,so that you don't run into great loss. If you win big along the line of having fun,then enjoy your win and see it as a lucky day for you.

Isn't it mind-boggling, folks, to witness the radical metamorphosis of betting over the ages? From humble games of sheer luck to intricate tactics like arbitrage wagering, we humans have been perpetually mesmerized by the prospect of raking in the dough via gambling! Yet, with formidable power comes colossal responsibility.

The genuine riddle, ladies and gents, doesn't solely revolve around fattening our wallets; rather, it's about harmonizing the precarious dance between the hazards and spoils of betting. Is it genuinely worth the relentless grind to probe and examine each and every tantalizing betting prospect? Or, perchance, should we direct our energies toward crafting a multifaceted assortment of bets, designed to soften the blow of losses and propel our gains into the stratosphere?

As for the burning question of which sports to gamble on, well, that's purely subjective. However, I contend that the true goldmines for betting aren't necessarily the fan favorites. On the contrary, it's the oft-overlooked underdogs of the sports realm that present the most delectable profit possibilities!

Many have tried but that is a full time job,beside that is very difficult to implement now as you need to have accounts in good standing in at least 100 gambling sites in order to win a very low amount in percentage from 1% to 5% at max and the reward is not that big,this is why the people who still do it,do it in groups of people,they rent an office and divide the work between them.There are several websites that offer a help for these people where you pay a subscription fee and they bring you all the options to arbitrage betting,for me most well known one is Betburger website.

Don't try to risk your money for risky matters and as other people says about it this is been discourage action to be done so maybe just bet plain without any risky methods use to avoid banning of account in the platform.

There are so many tips you can see online maybe just be resourceful to get higher chance to win on your bets on sports. Safety of our account is important so don't create any mistake which a sportsbook's doesn't allow to do by their users.

Gambling arbitrage will endanger your account because they consider these activities to be prohibited activities, because they are considered detrimental to the bookmaker, but you can do it at a bookmaker whose betting system is parimuteal betting. If you want to know what parimuteal betting is, you can learn here https://en.wikipedia.org/wiki/Parimutuel_betting
In bookmakers with a betting system like that you can place all 1X2 bets on football matches or other according to what is available, but you have to be careful enough to calculate the amount of money you will place because sometimes the results will only make you BEP without getting a profit or even not produce at all.

That's a good question.I have a friend who always places a lot of bets on an event.But he does this almost professionally,since it takes a lot of time to detail each event and he has been doing this for a long time.I think it is important that the gaming site has a history of bets, then the administration will not have questions about your bets.And if there is a chaotic order of bets on a fresh account for the purpose of quick profit,then this will raise questions.

You will need to increase your bankroll to increase your profit margin because the usual profit percentage on arbs betting is approx. maximum 2% and more than that is very rare to appear because book maker can easily spot that error. Most of the successful arbs bettor use huge bankroll and they are the one you always see on scam accusation board that has a balance of 1000$ or more that frozen due to their so called unknown reason.

Arbitrage betting is really profitable if you can spot them but the problem is casino doesn’t allow this since you are just betting on their error and it’s not gambling anymore. Your chances to banned is very high on doing this because bookmaker is now vigilant on tracking those doing this method.

It is prohibited in any kind of sport betting even recently someone accused of doing it by the casino so they cancelled the winning bet so whoever wants to try then this will be the outcome. While its kind of hard to get noticed if we use different sportbooks but we don't know their internal affairs so doing anything that violate their terms is not recommended and put your account on high risk as well.

It’s probably possible to do it though it’s a good idea to check the odds beforehand since the casino owners will take their margin
I’d guess the best strategy is to do it using different spotsbets websites

Have anyone here tried this successfully?

There are so many complaints about Gambling Arbitrage in the scam section, casino operators are banning and blocking accounts that engage in Gambling Arbitrage so you should be careful doing Gambling Arbitrage check the TOS of the casino it's likely that they will not let you do that, its good if they only cancel your bet and return your deposit but I have seen casinos blocking the account and confiscating the funds.
Don't try on something that will get your account in trouble.

I don't know where you get the idea of doing this but it's possible that you may lose more than win on this type of strategy.
"Arbing" as they call it. This is not discussed here in the forum because of the impossibility to make profits out of it. When you do it at certain events there are rules now where they won't give you the reward if they find out you are betting on both teams or both players.

This is an example of the terms and conditions in Stake.com at the MLB event.
https://stake.com/promotions/promotion/mlb-primetime-double-winnings
So there's no way you could win even if you bet on both teams for the same amount especially if the favorites will be the ones winning the game.

Yes it is kinda rare because it requires a lot of time and money. Arbitraging is quite known in trading I rarely heard that my friends are using that kind of strategy. And I think it will cost some as well? because there will be fees or gases when you will try to send it to other websites. So I rather make a multiple bets on different teams rather than arbitraging in another sites, I don't want to lose more money.

Bet a higher amount since the net percentage is already low as you mentioned. How else can you profit more?

Which sport or event isnt't that important anymore when doing arbitrage. Of course it's advantageous if you know the rules of the game but what you should really focus on is the movement of odds. You also have to make sure you're betting on different providers. It's not usually allowed in one sportsbook as others have said already.

At the moment I am only doing research on arbitrage I have never said that I will start doing it straight away.


Basketball is a problem for me as I have zero knowledge about this game. I am very much into cricket and soccer still I can work on understanding the game. Thanks for sharing your experience.

Still looking for someone to share their experience or if they know anyone who has been in this field. Can you please my question and reply to this thread?

I have actually studied and researched about arbitrage betting for a long time but only tried it a few times. After I learned about the opportunities and how arbitrage betting works I decided to stop trying it and will never do it again.
If indeed you are curious and want to try what results you can get, then try it once in a while to treat your curiosity and gain experience from arbitrage betting.
I'm not saying this bet is bad, but if the gambler doesn't have a mentality and can't hold back his emotions, it's better to avoid this betting method, especially if you don't have a spare balance to bet on.

Arbitrage gambling is less risky and profitable but unacceptable by bookmakers because it involves trying to manipulate the market.
It takes lots of times and the profitabilities are against the odds for possible wins as the price can easily be changed or cancel the game by the bookmaker once they sense any mistake.
No bookie will make arbitrage legal to them knowing the possibilities of gamblers winning regardless of the time and efforts involved.

  -   As far as I know that is not allowed in crypto gambling especially in sportbook mate, why did you ask that? because that method is really an illegal technique, although you can earn a lot there, that's why it's really illegal.

Then it's different and it's still nice to gamble that we're happy and that winning big should be second only to us gamblers so that it doesn't hurt our feelings if we lose.

You can make a lot of bets in just a single game that allowed most happens with the sportsbook there are alot of options right there for example in e-sports first 10 kills, winners game, and also the first kills so there's nothing wrong with the arbitrage this just gives an option to the player where to bet unless they made a script that by pass the system, this just a strategy of the players to get a chance of winning but not as take with the abuse of the current system. In my opinion its way too risky than taking profit with other games unless you really know the player and the team will in the match.

Sport bookers has confirmed this kind of bet as cheating and you can be penalised for arbitrage gambling by account ban. To use this kind of strategy it needs proper research and skill on every game that you stake on. It also waste time but if you can understand it then you should know if the casino platform that you are gambling on discourage it or not. Why are you anxious to have the knowledge on this ? Be careful with your gambling life so that you don't run into great loss.

maybe some people will judge this betting strategy as having a low risk, even though this is one of the very risky strategies when you are detected doing arbitrage which allows you to be banned and your funds confiscated. arbitrage may be very profitable but it's like a waste of time when you're just learning this strategy and definitely big capital is required.

yep, it's true that arbitrage is often carried out in sports betting by taking advantage of the odds from several sportbooks to get a definite outcome.
but you better reconsider if you want to learn this strategy, this is very risky on your account.

Yes, it is illegal in some sportsbook but some gamblers still maximize their profit through it but not everyone could do it because first, you have to spend most of your time monitoring the odds and researching about the capability of players. Also, you would be needing a bigger capital since you will bet on two bookies. I agree that this strategy has a lower risk but it will be a big loss if casinos would track and ban your gambling activities.

I have studied about arbitrage betting, the problem is in the quote below.

Next arbitrage betting from the statements of experienced people, he said.

From my understanding and what I learned about arbitrage betting, it's not a level bet per gambler like us, arbitrage betting is often used by the football mafia, so if we really don't understand arbitrage betting and enter the football mafia club, our bets are in vain, wins and losses are set, forget about arbitrage betting, do football betting as you know, thinking strange can produce strange values.

I guess most of the bookies don't allow you to arbitrage bet. You may have some trick to bypass them but if you aren't applying that trick, you will get banned most likely. You can check out the scam accusation board. There are a lot of scam accusations from different players but I'm sure that most of them abused the casino by having arbitrage bets. Though a casino has no way to detect that, FYI, providers can easily identify and confiscate your winning.

I've heard of the idea even before but never tried it because I have never done it. Most casinos might even track you down for doing so and they can detect that you're doing it.

And it's rare to see that this is possible to be made and that's why for most of us here. It's either never done it or never heard of it because there's no way that it can done or close to it like just having little chance of doing it.

I know of people who are doing it, or at least were doing it already back in 2017-18. It's a large organization in the EU that pays people to make and age accounts on a number of bookies at the same time.
Their employees get x amount of money, for instance 50 EUR per site they register, deposit, claim all bonuses and play for a while. The longer they manage to play, the better. They are given burner phones to use with the accounts and either KYC with their own name, or fake credentials. Once the account is aged for a few weeks, they get money from the organization and are told what to bet on.

The company is involved in all kinds of shady gambling like fixed matches, influencing odds, arbitrage, even money laundering, but you as a "mule" only handle 1% of the total sum, which doesn't look suspicious. After all, you have only 1k EUR or something like that, but the boss is betting 100k.
The job pays well. They're getting a % of the won amount for themselves and never have to bet their own money, although it's allowed if they want to.

Arbitrage gambling hurts bookies and real gamblers shouldn't engage in it. Well since we aren't talking about right or wrong here, let's hit the nail on the head.

Arbitrage gambling is  highly profitable because it takes advantage of the loopholes made by the bookmakers. However it is only for experienced gamblers because it involves a high risk level.So you have to choose a sport with a large number of games/ matches taking place within the period of the competition. Football, Tennis, baseball are all typical examples.

I've read a story in the past and it would require building up a certain array of connections, but there is a way to make profit from this sort of thing. However it probably requires a much larger scale and bank account than most people here have available. It's very hard to arbitrage things like football betting in Europe, as it is a very competitive market, however if you watch the odds movement on things like horse racing you might start to think there is the ability to profit in that game - if you are able to calculate and look across many bookmakers at the right times. It's a very simple profit calculation, so you either find a bet where it works, or you don't - outside of these much higher odd sports, I haven't seen this sort of arbitrage possibility after looking at many options.

Right, that is the mechanics for a arbitrage, however, I haven't check how you can make money out of it.

Because for me, it's better to just bet one which you think you will likely to win.


Might be but the thing is that most casinos will ban your account if they see that you are doing some form of arbitrage. We have read lots of scam accusations, in the past and if you see it, some of it are due to this arbitrage that casino's doesn't want to see it their platform as this is some kind of exploit to their system that they don't like.

I personally don't support any form of cheating the house to win games because that just takes the fun out of the games you play and makes you look like a fool while you're doing it too. And this is why I do not condone and go highly against gambling for profit, it just keeps you away from the fun part and pushes you to do stuff like these.

Plus, a lot of sportsbook and will have you banned from using their services and probably have you blacklisted as well from other sportsbooks if they find out you're doing gambling arbitrage. So just don't do it. The risks far outweigh the benefits you may get and you'd look like an idiot doing it at the same time too.

True, bookmakers are too wise to blacklist people who are arbitrage betting even though it isn't illegal at all.  So I always avoid doing this kind of bet.  Though there are processes to avoid to be detected by the bookmaker, it is best to avoid this kind of activity in order to save us from being capped or blacklisted by any sports bookmaker.  

Somehow I think this is the reason why many people whine about being capped on their bets and just don't reveal that they had been caught exercising arbitrage betting.

Have been asked before if I'm not mistaken.I personally did not experience arbitrage betting but have a friend who already did. He even tried to encourage me at first but eventually he stopped it . According to him, it would be indeed profitable especially if you would be able to put the right margin between your bets on different platforms. Given that you'd bet on all possible outcomes, in such way it would be too costy, and for me that is an enough risk to avoid.Once you made the wrong calculation of odds, expect huge loss on your end. I'd prefer just playing it on the usual to avoid adding risks of losing. I believe this won't be hundred percent effective even if it is called "surebets", because if it really is, then many gamblers should be rich by now.

I also remember that this has been asked before and a thread was made as well.

For those bettors that have large capital, I guess they have tried to do it and did it on several occasions but then just stopped because it requires a lot of effort and money. And you're right that with one wrong calculation, instead of profiting from arbitraging their bets on different bookies, they might just lose hefty amount of money since we're talking about different odds from these bookies.

But will still try it back and if money is won easily, it will be taken and spent easily by them so they go back to their former state.

The betting events don't matter as much aside from the betting limits. If you want to increase your profit then you need to find better odds and one way to do that is to register in different bookies and betting exchanges until you find the best odds on both sides. Another alternative is to look for promotions as there are decent promotions where they'll offer boosted odds and you can use that opportunity to do an arbitrage bet but the betting limit aren't that high though.

In fact, the opinions you've received here seem to be quite controversial, as...
If it is so difficult to make money from arbitrage in gambling, it takes a lot of time and money and the profit is very uncertain... then why do bookmakers hate this type of users and even ban them when they detect this practice?

I confess to you that I was already quite fascinated by this, but since traditional trading I have never been able to make any profit with arbitrage, in fact it is something difficult and "not recommended" in any casino.

There are some sites "specialized" in this, but in addition to being risky to trust them, your profit margin, which is already small, ends up getting even smaller.

The best thing is that you look for another way to earn money in games of chance.

I've heard about gambling arbitrage too, and it does sound very interesting and intriguing. But the thing is, you got to be super careful and do a ton of research to find the right opportunities. It's not an easy task, and it can be pretty time consuming, so you need to be patient too. And you got to also remember that arbitrage isn't foolproof, and it might end make making you lose everything. If it was foolproof, everyone would be doing this and never lose money in sports betting. And don't forget, you risk yourself getting blacklisted!

Maybe it's easy for you to say using two different gambling platforms to bet in the hope of getting bigger odds but I don't think you can do it that easy.
Everyone has calculations, friends, so you can't do everything you want in betting just to get a bigger profit because there are risks and capital that must really be accepted and prepared.
If you want to get a high enough betting limit, you don't need to use arbitrage because by betting alone on the best sportsbook, you can get high limits.

Because gambling arbitrage work easy as that, almost of crypto casinos are have similar odds because they're using same provider, the only difference usually around +- 0.01x - 0.03x. Online fiat casino sometimes have different odds, the difference is quite higher, so you can take advantage over it.

No doubt a big casino which have huge bankroll, we can place high amount bet. But sooner or later if you're keep winning, the casino will give limit on your account.

Never tried it. I do know about it, but simply because it was too tedious and too much effort was required, plus the fact that you can only really get small amounts (depends on your bankroll really), it wasn't that enticing. Not to mention my sports gambling experience itself was for fun, not really for the money.

I reckon it'd be easier to do with bots and scripts though, can probably make one given enough time but I'd much rather design stuff than do headache inducing programs like that.

Money isn't the thing in question since you can do that with any amount of money as long as the bookie allows you to bet with it, but time is the main thing when you go for arbitrage betting because you will need to do a lot of research to find out different bookies allowing to bet on the same matches, and then analyze the odds to find out the best two bookies where you will place your bets.

And you won't really lose money if you have done the research carefully and evaluated all the things and situations including fees and stuff. The only thing you need to be careful about is that the bookies don't suspect it or you could get in trouble and the money used will probably be confiscated.

I have found multiple platforms wherein there is a difference in odds on IPL. As per my understanding, I have to place a bet on both platforms but if I place a bet on the first platform namely 1 and on team 1. Then I go ahead and place a bet on the second platform namely 2 on team 2. I did check the odds and found that the odds were different on both platforms.

Then how on earth will they find I am the same guy if the platforms do not do KYC in the beginning? If they as for KYC while withdrawing and If I use multiple verification IDs can they be able to still detect me? All my questions are based to find out how some gamblers can utilize this loophole as I have found multiple loopholes within the online casino system while I was doing my research.   

So why will the betting site blacklist you if it isn't foolproof? I think by the time this strategy came out, many people have been trying this and that have affected the sales of the betting sites. That is why they are now blacklisting users and only a few have now attempted of doing it.

Arbitrage betting can be similar to arbitrage trading so one must act quick before the odds in the market change but unlike in trading that trades are processed quickly, sports betting are still being played carefully by the teams or the players. This is where we need patience. It can be intriguing or interesting but if we are not skilled enough or willing to take big risks, better if we will not attempt this strategy.

Some casinos can track your Ip address but I don't think most of them will exert an effort to track their bettor's activities. It's an easier way to maximize our gains but risky at the same time.
You will also be needing a higher bankroll since you will be having multiple bets. You need a bigger capital to pursue it and you also need enough courage since you will also be taking a bigger risk.
There's a possible banning so arbitrage is only perfect for risk-takers. I haven't tried it so far but I've heard from some colleagues that they are really making money through this strategy.

Why is it that sportbooks makers have confirmed it as a cheating method of betting yet they the sportbooks makers set the sporting events for the arbitrage betting. That means they are also benefiting from the betting strategy. Because nobody does what they are not benefiting. I see arbitrage betting as farming of bet. But when the gambler loss, he loss greatly and when he wins, he wins big. And all depends on the research and approach used by the bettor.

Arbitrage betting is like walking through a minefield with a blindfold on. One misstep, and you could be blown to smithereens. Many betting sites have safeguards in place to prevent arbitrage betting, which should make you think twice before diving in headfirst.

Furthermore, due to the inherent unpredictability of sports, successful arbitrage betting necessitates an expert degree of skill and knowledge. It's like attempting to predict the stock market: you'll probably be wrong most of the time.

However, if you have the willpower to learn everything you can about arbitrage wagering, you can turn a profit. But tread carefully, as if you were playing Russian roulette or walking on thin ice with a hungry polar bear close.

I have never tried gambling arbitrage, and I didn't even understand fully, what it means until today.
One thing I am very sure about in betting is that, the lower the risk margin, the lower the profit, but the higher the risk margin, the higher the profit, this analogy is not peculiar to gambling alone, we can find this working in trading, as well as other arms of investments..

When the risk of loosing your money is very low, then be sure that the profit (just incase you win) will be very low as well, in gambling, the level of risk one is willing to take, contributes greatly to the level of reward such a person receives..
This is my understanding of how risk and profit works, and if there be anything different in this with gambling arbitrage, I will be reading comments from other users to learn it.

When crypto bookies were starting a few years back, you could have done this and get away with it. Now, you'll be blocked almost immediately once they noticed that you're doing this and you'll never get your funds back. They are not lenient with this matter anymore because a lot of people have won a lot from doing just this. They are against people winning against them, and arbitrage betting is one way to beat the books. My advice: do it with a friend if you really want to try it. At least, there is one layer of obfuscation (obviously not enough to fool the bookies) for you to just get a feel of it.

If they have different odds, does that mean that they have a different provider right? I doubt it that they'll be able to see who's behind with both bets since it's from two different platforms.

And as for KYC, that won't matter to them as long as they require it and you obliged then that's not a problem. You're right with that they can't find it out so if someone tries to gamble arbitrage, that's a matter of choice but be sure to understand the risk as well.

^ That is right and if you do decide to try arbitrage betting, doing it with a friend can be a good way to minimize the risk. Just make sure that you both understand the possible pitfalls and are prepared to deal with them. I think the reason could be is to possibly that sportsbooks are in the business of making a profit, and they are always looking for ways to maximize their revenue it could some of them threaten arbitrage gambling as a way of cheating. However, for gamblers, though it is risky but, arbitrage betting can be a way to generate significant profits.

I think I would prefer going for soccer although I don't know the level of risk one will be taking to take part in this kind of gambling but I know that soccer has it own risk but can not be compared to the ones I don't have idea on. If I select an outcome at random and the result is different from what I picked, would that be the level of risk I will be taking, losing the fund for the bets? This is my first time seeing arbitrage kind of betting but no matter what op had explain, I will try as much to make some research about it so that I can earn also. This may be interesting to some people but I see it as same with our usual method of betting.

Heard about this strategy before but upon learning how it works and how you can do it, I decided not to try since there’s still a risk and the possible profit is not that high for a small time bettor there’s also a chance to lose more than what you can make money since you’ll bet more and the result is only one especially in sports betting. If you are into sports and soccer, then you can easily understand that but if not then better to look what is ok for you than to follow the crowd.

Surely there are many people on the forum who have used this. And I don't exclude the possibility that there are still people who still use this. But bookmakers don't sleep either and have adapted their policy to this over the years. I can remember from the past that bookmakers also acted against this, you could label it as a legal way of cheating. You might still be able to earn a little money here and there, but the biggest problem with this technique is that you quickly run into limits. And then you are automatically gambling.

Gambling Arbitrage is never that something new, its been done by some but bookies or platforms arent that dumb not to notice on what you are doing.This is why we do see locked up accounts and winnings or withdrawals been hold because of this very reason.This is why its not really something recommendable but for sure there are still gamblers who are doing this but not yet caught under the radar.
Its possible because checking out odds and trying out to analyze whether you would be profiting even if its just small or slim but still making some assurance.
These businesses wont really be looking it for it to be that appealing.