Basketball Betting Arbitrage: Maryland Team Points
Arbitrage Opportunity in NCAAB Basketball Game
A recent analysis highlights a potential arbitrage betting opportunity in the upcoming NCAAB basketball game between the Maryland Terrapins and the Maryland-Eastern Shore Hawks, scheduled for December 28, 2024, at 12:00 pm. This situation involves exploiting differing odds offered by two bookmakers on the same market, creating a chance for bettors to secure a profit regardless of the game's outcome.
Details of the Bets
Event Information:
- League: NCAAB (College Basketball)
- Date & Time: December 28, 2024, at 12:00 pm
- Home Team: Maryland Terrapins
- Away Team: Maryland-Eastern Shore Hawks
Bet 1:
- Bookmaker: FanDuel
- Market: Alternate Team Totals
- Selection: Maryland Terrapins Over 98.5 Points
- Odds: +200 (American odds)
- Stake: $367.19
Bet 2:
- Bookmaker: DraftKings
- Market: Alternate Team Totals
- Selection: Maryland Terrapins Under 98.5 Points
- Odds: -135 (American odds)
- Stake: $632.81
Analysis of the Betting Scenario
This arbitrage opportunity arises from the discrepancy in odds between FanDuel and DraftKings on the Maryland Terrapins' team total points. By placing opposing bets on both the over and under 98.5 points, bettors can potentially secure a return irrespective of the game's score.
Converting Odds to Decimal Format:
- Bet 1: +200 converts to 3.00 in decimal odds.
- Bet 2: -135 converts to approximately 1.74 in decimal odds.
Total Investment: The combined stake for both bets is $367.19 (Bet 1) + $632.81 (Bet 2) = $1,000.
Potential Outcomes and Returns:
Scenario 1: Maryland Terrapins score over 98.5 points (99 or more points).
- Bet 1 wins: $367.19 x 3.00 = $1,101.57.
- Bet 2 loses: Loss of $632.81.
- Total Return: $1,101.57.
- Profit: $1,101.57 - $1,000 = $101.57.
Scenario 2: Maryland Terrapins score under 98.5 points (98 or fewer points).
- Bet 2 wins: $632.81 x 1.74 ≈ $1,100.09.
- Bet 1 loses: Loss of $367.19.
- Total Return: $1,100.09.
- Profit: $1,100.09 - $1,000 = $100.09.
Discussion of Implications
This arbitrage betting scenario suggests a potential profit of approximately $100 regardless of the game's outcome. By covering both possible outcomes for the team's total points, bettors minimize risk associated with unpredictable game results.
Key Considerations:
- Sports Betting Rules: Verify that both FanDuel and DraftKings have consistent rules regarding team total points, including the inclusion of overtime and how cancellations are handled.
- Odds Confirmation: Before placing bets, ensure that the odds have not changed, as arbitrage opportunities can diminish quickly if bookmakers adjust their lines.
- Stake Limits: Check if there are any limits on maximum stakes for these markets to ensure that the desired bet amounts are accepted.
- Transaction Costs: Be aware of any fees or commissions that might affect the net profit from these bets.
Conclusion
The identified arbitrage opportunity in this NCAAB game presents a case where bettors can potentially secure a profit by strategically placing bets on opposing outcomes in the sports betting market. By carefully analyzing the odds and ensuring all conditions are met, this situation exemplifies how arbitrage betting can be utilized within sports betting strategies.
Disclaimer
This analysis is for informational and educational purposes only. Sports betting involves risk, and there is no guarantee of profit. Individuals should conduct their own research and consider consulting with a financial advisor before making any betting decisions.