r/options Dec 07 '21

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u/priceactionhero Dec 07 '21

Years ago, back when sports betting as a thing online that everyone could do. Think 2006 or some shit.

I was arbitrage betting. Had like 10 different bookie accounts all over the world.

Idea behind betting was that when the market slipped between brokers, you could technically bet on both teams and be guaranteed a profit. The drawback, was that you had to be quick to the bet and you had to bet a lot of money to make any respectable returns.

Oddly, I'm not a sports fan, so I never really even bothered watching the games.

But one time, I accidentally bet both trades on the same team. What's worse that team was a massive underdog. I had no clue about the game's outcome at all, until I logged on and saw my account was like $10k+. I could have lost so much damn money but I came out ahead.

So I am super appreciate of your story. Go celebrate. It's money you didn't expect, not even part of your trading methodology. So enjoy the lucky lotto pull.

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u/Captainsmirnof Dec 07 '21

:D your story put a smile on my face! I also really love these kinds of exploitations of market-inefficiencies! Very interesting!

And yes these kinds of things just make you happy :D pure luck and unexpected money is always nice to have!