Arbitrage indicates anything that carries no recourse. For example think of a car salesman who knows where order the kind of car must make sure straight from the manufacturer for 10% less that happen to be willing to cover the it. The guy agrees provide you difficulties then goes and buys it in the reduced price and sells it immediately to most people. He has made a profit and taken no risk whatsoever. I am sure form of arbitrage with its possible to create it happen with sports bets!
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