There are lots of ways to gamble. Card games, bingo and sports betting, to name a few. And despite their differences, one thing’s the same: they’re all designed to take your money. However, there is a way of putting the odds in your favour by giving yourself an advantage. So what is advantage gambling? Keep reading to find out more.
What is advantage gambling?
Typically, the odds are stacked in favour of the casinos and bookmaker. This is called the ‘house edge’. Advantage gambling aims to reduce the house edge and put the odds more firmly in favour of the gambler.
The term ‘advantage gambling’ refers to legal methods used to gain an advantage while gambling. It doesn’t cover cheating though, which is illegal. Instead, advantage gambling is about looking for ways to give the player an advantage over the house or other players. However, while it isn’t illegal – it’s not always welcomed by casinos or bookmakers. In fact, advantage play can get you banned in some cases.
Examples of advantage gambling
There are plenty of ways to gain an advantage. Here are a couple of examples when it comes to casino games:
- Blackjack: card counting, shuffle tracking, edge sorting.
- Craps: dice control.
- Poker: angle shooting
are just a few tactics. Then there’s sports betting, where arbitrage and matched betting are popular.
Advantage gambling in sports
Arbitrage betting (arbing for short), works by exploiting the different odds between bookmakers and betting exchanges. Bets are placed on all outcomes of the same sporting event (win/lose in tennis or win/lose/draw in football). It doesn’t matter what the outcome of the event is. A profit is made because there is value between the differing prices. Arbing is really popular but it does require quite a lot of money to do. Large stakes have to be placed because the potential profit is generally small at 2% – 5%. So you need to be patient as it’s more of a long term strategy.
And then there’s matched betting…
What is matched betting?
Matched betting takes advantage of the special offers promoted by bookmakers. Place a bet on a team to ‘win’ with a bookmaker and to ‘not win’ at a betting exchange. The bets cancel each other out, so you won’t make any money. However, this triggers a free bet. The free bet is then used to lock in a profit regardless of the outcome.
OddsMonkey specialises in matched betting and has all the tools you’ll need for the job. There’s software and support, along with an active forum.
So, to wrap up this post for “what is advantage gambling?” It’s looking for a way to play where you have the edge – not the house. Advantage gambling can be done in casinos and on sports betting. Matched betting is one of the best ways to give yourself an advantage and make some extra cash.
To see some what OddsMonkey has to offer, check out our video guides.
Or download our introduction to matched betting to find out more.