NBA Arbitrage: Wizards vs. Knicks Opportunity (ROI: 54.0%)
Arbitrage opportunity for Wizards vs. Knicks on Dec 28, 2024. Bet FanDuel Wizards -3.5 at +630, BetMGM Knicks +3.5 at -105; $1,000 total stake.
Introduction
A new arbitrage betting opportunity has been identified in the sports betting market for the upcoming NBA game between the Washington Wizards and the New York Knicks on December 28, 2024, at 7:10 PM. This memo provides an objective analysis of this potential opportunity for those interested in sports betting and arbitrage betting strategies.
Analysis
Two bets are available from different bookmakers with opposing outcomes:
Bet 1:
- Bookmaker: FanDuel
- Market: Alternate Spreads
- Selection: Washington Wizards -3.5
- Odds: +630 (Decimal Odds: 7.30)
- Stake: $211.01
Bet 2:
- Bookmaker: BetMGM
- Market: Alternate Spreads
- Selection: New York Knicks +3.5
- Odds: -105 (Decimal Odds: 1.95238)
- Stake: $788.99
The total amount staked across both bets is $1,000.00.
Discussion
Examining the possible outcomes:
- Scenario 1: If the Washington Wizards win by 4 or more points, Bet 1 wins. The payout would be $211.01 multiplied by the decimal odds of 7.30, totaling approximately $1,540.37. After subtracting the total stake, the profit would be about $540.37.
- Scenario 2: If the Washington Wizards win by 3 or fewer points, tie, or if the New York Knicks win, Bet 2 wins. The payout would be $788.99 multiplied by the decimal odds of 1.95238, also totaling approximately $1,540.37. The profit, after subtracting the total stake, remains about $540.37.
This setup suggests that no matter the outcome, there is a potential profit due to the differences in odds offered by the two bookmakers—a key aspect of arbitrage betting.
Conclusion
The analysis indicates a possible arbitrage betting opportunity in the upcoming NBA game between the Washington Wizards and the New York Knicks. By placing the specified bets, bettors could potentially secure a profit regardless of the game's result. This demonstrates how discrepancies in sports betting odds can be leveraged in arbitrage betting strategies.
Disclaimer
This memo is intended for educational purposes only and should not be construed as advice or a guarantee of outcomes. Sports betting involves risks, and individuals should carefully consider these risks before participating.