SPORTS-ARBITRAGE BEGINNERS' CHECKLIST
The
most important thing when starting a new Sports-Arbitrage project is
organised preparation.
Follow the guidelines below for a quick &
efficient start.
1. Download ArbSurfer (either the Preview & Pro version)
Arbsurfer will significantly speed up your account-opening processes by autofilling the sign-up forms with the information in your Profile. If you have not yet done so, please log into the members' area & download your copy now. The free Preview version is all you need right now. Once you have installed the software, run it for the first time and you will be taken through a wizard. Set up your Profile with your information and ArbSurfer will remember it for use with the forms you'll be filling out in the steps below.
2. Open a new bank account & new credit card accounts
You will need new accounts so that you do not have to mix trading transactions with personal ones. It's best to tackle this task first as it is quick to do but it usually takes the financial institutions a few weeks to complete everything & give you the new acounts/cards.
- a) In ArbSurfer, open the Sites Repository & press the 'Enable Filtering' button at the bottom.
- b) Press the + button to add a filter & set it as Categories Contains Bank & Press OK
- c) The Repository will now display a list of banks & credit card companies.
- d) Simply double-click on the ones you want to open and navigate to the sign-up forms.
If you filled out your Profile then ArbSurfer will fill the forms out for you and all you will need to do is add any missing information and submit the form.
Make a note of the usernames & passwords required to log into the accounts you have set up. You should then go to each site and log in for the first time. When you do this, ArbSurfer will prompt you to save the codes and if you click YES then these codes will be encrypted and stored securely in ArbSurfer so that the next time you visit the site you can be logged in automatically.
3. Create online wallet accounts
Online wallets are an increasingly important method of moving funds into & out of bookmaker accounts.
- a) In ArbSurfer, open the Sites Repository & press the 'Enable Filtering' button at the bottom.
- b) Press the + button to add a filter & set it as Categories Contains Wallet & Press OK
- c) The Repository will now display a list of online wallets.
- d) Simply double-click on the ones you want to open and navigate to the sign-up forms.
If you filled out your Profile then ArbSurfer will fill the forms out for you and all you will need to do is add any missing information and submit the form.
Make a note of the usernames & passwords required to log into the accounts you have set up. You should then go to each site and log in for the first time. When you do this, ArbSurfer will prompt you to save the codes and if you click YES then these codes will be encrypted and stored securely in ArbSurfer so that the next time you visit the site you can be logged in automatically.
4. Create your bookmaker accounts
You will need to open a large number of bookmaker accounts in order to maximise your opportunities. The Sites Repository in ArbSurfer contains the full list of bookmakers scanned by ArbAlarm. However, you may choose a subset of this list according to various criteria you set.
For example, you may initially only want to set up accounts with bookmakers in the UK. If this is the case
- a) In ArbSurfer, open the Sites Repository & press the 'Enable Filtering' button at the bottom.
- b) Press the + button to add a filter & set it as Categories Contains Bookmaker & Press OK
- c) Press the + button to add a second filter & set it as Country Contains UK
- d) The Repository will now display a list of UK bookmakers.
- e) Simply double-click on the ones you want to open and navigate to the sign-up forms.
If you filled out your Profile then ArbSurfer will fill the forms out for you and all you will need to do is add any missing information and submit the form.
Make a note of the usernames & passwords required to log into the accounts you have set up. You should then go to each site and log in for the first time. When you do this, ArbSurfer will prompt you to save the codes and if you click YES then these codes will be encrypted and stored securely in ArbSurfer so that the next time you visit the site you can be logged in automatically.
The country filters in ArbSurfer are:
- AU = Australia
- EU = Europe
- UK = United Kingdom
- US = USA & other territories
5. Distribute your funds
Before you start trading, it's important that your funds are distributed amongst your various accounts so that you can act upon trading opportunities with a minimum of delay.
- a). Provide the bookmakers with all required documentation in advance. For example, in order to make your first deposit with an Australian bookmaker you will need to send them a fax or scan of your ID and credit card. If you do not do this in advance, the process will seriously hinder your ability to successfully place a bet with them on the first occasion that they are involved in a sports-arbitrage trade. Look through the sites you have set up accounts with and see which ones need more information from you.
- b) Some bookmakers provide Instant-Bet accounts which will debit your card automatically at the time you place a bet. Any accounts which offer Instant-Bet facilities can immediately be taken off your short-list of accounts which require advanced funding.
- c) Look for bookmakers which will accept deposits via your online wallets. Deposits made this way are usually instant - this means that you can keep relatively large central balances in your online wallets ready to be used with any of the bookmakers rather than holding smaller individual balances at the bookmakers themselves.
- d) Decide which accounts are going to be used most frequently. The data provided here will help:
Following steps (a) to (d) will help you to decide where your funds need to be as you start your trading.
With these preparations in place and a trial of, or subscription to, ArbAlarm you are now be in a position to start trading. However, please keep in mind that most new traders require 4-6 weeks of hands-on experience before they start to feel truly comfortable with things. It is crucial that during this learning period, you trade only with very small stakes. This way, the mistakes you make (every new trader makes mistakes!) will not cause much damage your trading capital or psyche. Consider this: if you place 50 trades with a value of 10p each, you will have gained significant experience with almost no risk - this experience will pay handsome dividends as you confidently increase your stake sizes.
If you follow the advice given in Lesson 7 of this course, you should find that even during this learning period, you are able to generate about £2000 of risk-free profit as you open and fund your bookmaker accounts