Hi Everyone,
So I came across arbitrage trading many years ago but I never took the plunge because of the many problems that I am sure everyone is aware of, such as:
1) GETTING LIMITED! 2) Very few opportunities across major bookmakers and when they do come up, you need to respond within seconds, otherwise they go away 3) Need to create and manage lots of accounts. Also difficult for someone in the U.S. to open accounts.
4) Cash flow issues - takes a long time to cash in and rebet the money.
These are the reasons I recall but there may have been more.
The main reason was all the talk about getting limited. People suggested opening accounts in the name of wife or relatives but I was not married and did not have relatives. At the time, I basically decided that it's not worth my time to dedicate myself to this only to get limited by bookmakers and not being able to do it anymore.
However, this all changed because I NOW LIVE IN A COUNTRY WHERE BETS ARE ACCEPTED IN CASH AT LOCAL BOOKMAKERS.
No need to worry about opening accounts, getting around "no U.S. customers", getting limited, etc. You basically come in, place a bet and pay in cash, then get the winnings in cash.
I've been here for about 6 months and recently placed an "uncovered bet" on France winning the FIFA World Cup. Before I placed the bet, I checked two places (within 30 seconds walking distance from each other) to see which one has better odds. It then occurred to me that arbitrage can be done here "live" without any of the problems mentioned on the forums.
In fact, I believe there is one now on Habib Nurmagomedov vs. Connor McGregor, but I am not sure as it's been a long time since I studied this.
Any general thoughts on this idea? Any flaws I am not considering?
So I came across arbitrage trading many years ago but I never took the plunge because of the many problems that I am sure everyone is aware of, such as:
1) GETTING LIMITED! 2) Very few opportunities across major bookmakers and when they do come up, you need to respond within seconds, otherwise they go away 3) Need to create and manage lots of accounts. Also difficult for someone in the U.S. to open accounts.
4) Cash flow issues - takes a long time to cash in and rebet the money.
These are the reasons I recall but there may have been more.
The main reason was all the talk about getting limited. People suggested opening accounts in the name of wife or relatives but I was not married and did not have relatives. At the time, I basically decided that it's not worth my time to dedicate myself to this only to get limited by bookmakers and not being able to do it anymore.
However, this all changed because I NOW LIVE IN A COUNTRY WHERE BETS ARE ACCEPTED IN CASH AT LOCAL BOOKMAKERS.
No need to worry about opening accounts, getting around "no U.S. customers", getting limited, etc. You basically come in, place a bet and pay in cash, then get the winnings in cash.
I've been here for about 6 months and recently placed an "uncovered bet" on France winning the FIFA World Cup. Before I placed the bet, I checked two places (within 30 seconds walking distance from each other) to see which one has better odds. It then occurred to me that arbitrage can be done here "live" without any of the problems mentioned on the forums.
In fact, I believe there is one now on Habib Nurmagomedov vs. Connor McGregor, but I am not sure as it's been a long time since I studied this.
Any general thoughts on this idea? Any flaws I am not considering?