Arbitrage in sports betting is when a bettor makes multiple bets on opposing sides of a gameline or prop to guarantee a profit no matter the result.

Let's look at a simple arbitrage. Imagine the Cowboys are playing the Eagles. FanDuel has the Eagles favored, DraftKings has the Cowboys favored.

If a bettor wagers $100 on each team ($100 on FD Cowboys +110; $100 on DK Eagles +110) the total amount wagered on the game is $200.

Regardless of which team wins the game, the bettor is paid $110 (for winning one of the moneyline bets) plus the original $100 (the amount wagered on the correct side of the moneyline) for a total of $210. Because there was $200 wagered and $210 paid out, the bettor returned 5% on this arbitrage.

Note that the bettor's guaranteed rate of return is 5% no matter how much money they wager. A $200 bet on either side results in $20 of profit, $1,000 results in $100 of profit, $2,000 in $200 profit, and so on.

Importantly, arbitrage opportunities can exist even when the odds and amounts wagered are not identical on either side of the line. In fact, some arbitrage opportunities only require placing bets on one sportsbook.

For example, if Caesars is offering a market for D'Andre Swift's first rushing attempt O/U 9.5 yards (Over +325, Under -200), a bettor could lock in 10.87% profit by staking $24 on the over (+325) and $68 on the under (-200), winning $10 regardless of the result of Swift's first rushing attempt.

Arbitrage is made possible when different sportsbooks (or even the same sportsbook) offer different odds on the same event, allowing the bettor to take both sides of the market.

So, in theory, identifying arbitrage bets is as simple as comparing odds across sportsbooks.

But, comparing every single market, on every single book, and plugging each set of odds into an arbitrage calculator to determine the appropriate wager amount and expected profit, is a lot of work.

Fortunately, Outlier has done the work for you, displaying an actionable and updated feed of arbitrage opportunities with profit percentages and stake amounts.

Now that you better understand arbitrage betting, it's time to go lock in some arbitrage bets.

Odds can change quickly on sports books. Before executing each leg of the bet, always make sure the odds are the same as you see here, and that the books allow you to bet these amounts.