Arbitrage Calculator
Enter the best odds per outcome: is there an arbitrage, and how to split it.
- Sum of implied probabilities
- 95.24%
- Arbitrage margin
- 5.00%
- Stake on outcome 1 at +110
- $500.00
- Stake on outcome 2 at +110
- $500.00
- Return whichever outcome wins
- $1,050.00
Prices move and limits apply: this is arithmetic, not a promise.
Educational tool. Bandwagon does not take or place wagers. Results are arithmetic on the numbers you enter, not advice.
How the arbitrage Calculator works
Add up the implied probabilities of the best price on each outcome. If the sum is below 100%, the prices together pay more than they cost: an arbitrage. The margin is 1 / sum − 1.
Stake on each outcome in proportion to its implied probability: stake_i = total × (1 / d_i) / sum. Every outcome then returns total / sum, so the profit is the same whichever one happens.
In practice arbitrage is hard to hold: prices move while you place the bets, limits cap stakes, rules differ on voids and overtime, and accounts get restricted. This calculator only does the arithmetic. A sum above 100% means no split locks in a profit, and the page says so.
Arbitrage Calculator example
You enter
- Odds format
- American (−110)
- Total to stake
- $1000
- Best odds, outcome 1
- +110
- Best odds, outcome 2
- +110
You get
- Sum of implied probabilities
- 95.24%
- Arbitrage margin
- 5.00%
- Stake on outcome 1 at +110
- $500.00
- Stake on outcome 2 at +110
- $500.00
- Return whichever outcome wins
- $1,050.00
Prices move and limits apply: this is arithmetic, not a promise.
Two outcomes both at +110 (2.10) sum to 95.24%. Splitting 1,000 as 500 and 500 returns 1,050 either way: a guaranteed 50, a 5% margin.
Arbitrage Calculator questions
How do I calculate an arbitrage bet?
Check that the implied probabilities of the best odds sum to less than 100%, then stake each outcome total × (1 / odds) ÷ sum.
How does a three-way arbitrage differ from a two-way?
Same method with a third price, for sports with a draw. Enter the draw's price in the third box.
What does an arbitrage margin of 2% mean?
Staking the full total returns 2% more than you staked, whichever outcome wins.
Why do arbitrage opportunities disappear?
Books adjust their prices once they see action, so the window is usually short.
Related calculators
Cross-Market Arbitrage Calculator
The same event priced on two markets: the cheapest pair, the locked profit and the contracts for a budget.
Hedge Calculator
How much to bet on the other side of an open bet to lock in the same result either way.
Vig Calculator
The juice on a market, and the fair no-vig odds for each side.