2-Way Arbitrage Bet:

In a 2-way arbitrage, we are looking for an opportunity where the odds for both outcomes (Team A win and Team B win) are favorable enough to guarantee a profit.

Let’s calculate if there’s an arbitrage opportunity:

1. Calculate the implied probabilities for each outcome:

• Implied probability of Team A winning at Bookmaker X: 1 / 2.00 = 0.50 or 50%
• Implied probability of Team A winning at Bookmaker Y: 1 / 1.90 = 0.5263 or 52.63%
• Implied probability of Team B winning at Bookmaker X: 1 / 2.20 = 0.4545 or 45.45%
• Implied probability of Team B winning at Bookmaker Y: 1 / 2.30 = 0.4348 or 43.48%

2. Check if there is an arbitrage opportunity:

• Total implied probability for Team A winning: 50% + 52.63% = 102.63%
• Total implied probability for Team B winning: 45.45% + 43.48% = 88.93%

The total implied probabilities exceed 100%, indicating that there is a 2-way arbitrage opportunity.

2-Way Arbitrage Bet Calculation:

1. Calculate the stakes for each outcome to guarantee a profit:

• Stake on Team A at Bookmaker X = (1 / 2.00) / (102.63%) ≈ 0.4863 or 48.63%
• Stake on Team B at Bookmaker Y = (1 / 2.30) / (102.63%) ≈ 0.4396 or 43.96%

2. Calculate the profit:

• Profit = (Stake on Team A x Team A odds at Bookmaker X) – Total Stake ≈ (0.4863 x 2.00) – 1 ≈ 0.9726 – 1 ≈ $0.9726 or approximately $0.97

3-Way Arbitrage Bet:

In a 3-way arbitrage, we are looking for an opportunity where the odds for all three possible outcomes (Team A win, Team B win, and Draw) are favorable enough to guarantee a profit.

Let’s consider the following odds from three different bookmakers:

3-Way Arbitrage Bet Calculation:

1. Calculate the implied probabilities for each outcome from each bookmaker.
2. Check if there is an arbitrage opportunity by adding the probabilities for each outcome from the three bookmakers. If the total implied probabilities exceed 100%, there is an arbitrage opportunity.

For the sake of brevity, I will not perform the detailed calculations for the 3-way arbitrage example here. However, if the total implied probabilities exceed 100%, you can calculate the stakes for each outcome similarly to the 2-way arbitrage and ensure a guaranteed profit.

Please note that sports betting arbitrage opportunities may be scarce and short-lived. It is crucial to act swiftly and ensure that the odds are still available at the bookmakers when executing the arbitrage bets. Always remember to exercise responsible betting and be aware of the risks involved.