Applying what you Know
Now, all you need to do is apply the above system to all the bets that you see: you can research the outcomes, perform the above system, and where you see an arb, go for it! They are surprisingly common, and since there are more and more bookmakers out there now, the chances are coming more and more often, and set to stay there for a good while yet, for people like yourself to mine the loophole and take the guaranteed return. Not bad for an hours work every now and then in front of the computer!
Some web sites will display the odds in another form  not fractions  however, it can usually be set to the one that you want. You can of course, also work in decimal.
To convert from fractions to decimals is easy. But you need to beware that with decimal, the odds offered always tend to include the stake. Hence, if the odds are 2/1, then this means that you will get £2 back for every bet of £1, AND the stake of £1 on top. However, with the decimal system, this will show as '3' not '2': because it includes the stake  you will get £3 bet for every £1 bet, INCLUDING the stake.
To convert from decimal to fraction, simply divide the top by the bottom, so for odds of 7/2, this gives decimal ( 7 / 2) = 3.5. In the decimal betting system, this would be displayed as 3.5 + 1 = 4.5 to take account of the different convention of displaying odds to include the stake with this system. Thus, to convert from decimal to fraction manually, subtract 1 first: 4.5  1 = 3.5 Then to complete the conversion, you need to remove the remainder, here .5. So, double the equation, to get 7, and show what you multiplied by to get a whole number on the bottom of the equation, to give 7/2.
For sake of completion, let's look at a three way bet that has the odds offered in decimal form.
In a match between Arsenal and Liverpool, the odds on home/draw/away are:
2.9 home win; 3.6 draw; 3 away win
but is this an arb? well, let's work it out:
odds 2.9 means that for a bet of £1, you will get a return of £2.90 in case of a home victory: Arsenal winning (including stake remember). This means that a bet of:
£1 / 2.9 = £0.35 will give you £1 if Arsenal win.
Similar to this, you will need:
£1 / 3.6 = £0.28 for a draw to win £1
£1 /3 = £0. 33 for an away win to win £1
So, to get a return of £1 NO MATTER what the result, you need to place a bet of:
0.35 + .28 + .33 = £0.96 (96 pence)
Therefore for each £1 bet you will get 1 / 0.96 back GUARANTEED: a return of : 4.17%. Not bad!!!
And as long as you place the bets in this ratio, then you are guaranteed a profit with the bookmakers you have selected!
All you have to do is apply the relevant of the above two systems (fractions or decimals) to anything you see, and reap the benefits of the arbs that exist.
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