When a Gambling Strategy Backfires: How Punting Sites Keep Strategies From Working
In Australia, there are an impressive number of punting sites. Some are privately owned or are part of a casino’s reach, while other sites are partially or wholly owned by the state they are located in. The opportunities available to an online punter are numerous and there are many people that have a gambling strategy that they swear by. The sites in Australia have begun to get wise to some of them and work hard to try to keep people from taking advantage of loopholes too often.
Gambling Strategy With the Potential To Work
For the online punter there are a couple variations of a gambling strategy that have quite the potential to work. All of these strategies are variations of a hedge bet. However, because of the number of sites that compete against one another, there is a powerful variation to the hedge called the arbitrage that for a while seemed to be unstoppable. There are a number of third party sites that allow the online punter here in Australia the ability to see the odds for a particular event from all the major sites that are taking punts for that event. In a typical hedge, the punter places a couple small punts on the underdog or dogs for an event to cover their losses should one of them happen to win.
In a simple arbitrage involving only two people or teams, the punter would find and punt on the site with the best winning odds for individual or team involved. This means that regardless of the outcome, they will win; albeit a smaller amount should they have just picked the correct team. For a sports match between two teams or two individuals, these are relatively easy to do; however, there are individuals and even teams that use this gambling strategy and apply it to sports such as horse racing. The individual or group will shop each site and find specific races to place punts on and then place the correct amount on each horse from the correct punting site to ensure a profit. The return on this type gambling strategy ranges from a mere two percent profit upwards to twenty depending on the event that is being punted on.
How Punting Sites Stop This Gambling Strategy from Working
Many sites actually do not worry too much about this type of gambling strategy. The reason being that they each individual company still makes money on that punter’s actions. When they win on one, they lose on another and each company has their own funds, own bookmakers and accountants. According to any individual punting site’s records, that person simply won or lost. However, the sites are bothered by this gambling strategy when the punter is taking advantage of a mistake they made. The law does allow a punting site to cancel punts for an event should they be able to prove that they made an actual mistake, such as a data clerk entering the wrong number or some type of startling math error while tabulating a handicap rating on a team. If the site can prove this they can simply cancel the punts and reset the odds. For the person using this gambling system, this is the worst case scenario.
Most sites are now aware they are often played against each other. While there is plenty of competition, none of the sites want the punter to have the upper hand because of a gambling system. Because of this, they have become motivated in the past year to start using a system that scours the internet for other odds for a particular match. They take this into account and while they may still opt to offer better odds for one team, they will not be as large of a disparity as there once was. The person who felt it was worth their time to work out an arbitrage for an eight or nine percent return is quite a bit less likely to want to do that work for a return of only two percent.
When This Gambling System Cannot Be Stopped
One arena where the arbitrage gambling system cannot be stopped is in international punting. The truly savvy internet punter will keep an eye out for odds on not only Australian sites but elsewhere in the world. While the punting sites in Australia may keep close tabs and close odds with each other, the chances that, for example, an American site is going to match odds with Australian sites is quite a bit less likely. This type of gambling system works especially well on an international scale when a country’s pride is on the line. Punting for Miss Universe will yield widely divergent odds based on the country that is taking the punts and often these odds are based on nothing but simply the country of origin for the contestant. Punting for the last Olympics included the option to place punts for which country would get the most overall medals. American punting sites were incredibly biased for America, which is no surprise. However, even Australian sites were more optimistic than they should have been for themselves.
Conclusion
The arbitrage gambling system has been revolutionized as online punting becomes more and more common place as well as more and more of an international concept. While sites here in Australia have begun to try to keep people from attempting an arbitrage, the global punting market is either unwilling or simply cannot track all of the sites out there offering punting odds on all the events that they do offer the odds on. Because of this, this gambling system looks to be a strong way to make a consistent return on money, possibly better than a typical purchase on the stock market or by putting money in the bank.
Click to Races.com.au to apply your Horse Racing gambling strategy for this year’s Melbourne Cup and find the latest Melbourne Cup tips and inside scoop on the Melbourne Cup form guide.