To arbitrage is to make a combination of bets
so that if one bet loses another wins. There is an implication of having an edge
, at no or low risk. The second bet hedges
the first. Arbitrage can also be used as a noun.
Doc looks hard for the best line
, and was able to bet the Yankees at -150 at one sportsbook while betting the Red Sox, their opponent, at +152 at another, thus giving himself an arbitrage.
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