Consider taking underdogs at your bonus book

For example, if you find +200 at your bonus book and -205 at MB/pinnacle, it may appear its not a great bet due to the -5c arb. However, when you have a larger moneyline, you can take a larger negative arb without it costing you as much.

Remember the quick formula- (difference in spread) divided by 2 divided by (spread of the favorite or underdog)

This makes this 5/2/200 = negative 1.25 pct loss on the wager on the underdog. So, if you had 500 on the underdog, you would have an expected loss of $6.25(1.25%).

So, a -5c arb on a +200/-205 bet is the equivalent of a -2.5c on a +100/-102.5 bet (which has a negative 1.25% expected loss).

The main benefit here however is the fact that the favorite will win well more than 50% of the time and allow you to bust out the book sooner, most of the time. Sometimes the underdog will win and chances are you will have to finish off the rollover and cashout but less than if you take 50/50 bets all the time.

This should allow you to work more bonuses faster, since you will be busting out sooner more often.

To quantify this a little, let's take the example of a book you deposited 800 at and got a 200 bonus for a total of 1000. The max bet at this site just happens to be 1000 also and has a 5xDB rollover. We will take 2 trials, one where you take a +200 underdog every bet and another you take an even money spread.

- The even money spread arb should win, on average, 50 pct of the time. 50 pct of the time you will bust your first bet and be done. 50 pct of the time you will win there and be up to a 2000 balance. Now, since max bet is 1000, you will have to make at least 2 more bets to attempt to bust. Now, you make 2 more 1000 bets at even money. The odds of losing on both of them is a 25 pct chance, odds of winning one of each is 50 pct and the odds of winning both is 25 pct. If you win one of each or win both, you are guaranteed to have to at least finish the rollover to cash out.

So total chance of busting out before rollover is 1st bet:50% + 2nd bet: (50%*25%)= 62.5% chance. With 50 pct of the time having bet 1000 and 12.5 pct of the time having bet 3000 here.

- The +200 underdog will win about 33 pct of the time. Therefore, 67 pct of the time you will bust. 33 pct of the time you will win your underdog and now have a 3000 balance and you can switch over to even money spread bets since you will, odds are, be finishing the rollover. The odds of losing your next 3 bets is a 12.5 pct chance. Even then, you would have completed 80 pct of the rollover and overwhelming odds are you will have to finish. So, we will just disregard busting after the 1st bet.

So total chance of busting out before rollover is 1st bet:67%.
.......

Take a +300 underdog and expect to bust the first bet 75% of the time (You won't always find this type of opportunity).

Typically is it fairly easy to find good moneyline arbs in the 140 to 200 range.

This may sound a little confusing at first, its hard to quantify this strategy. Basically, busting out earlier means you have your money sooner to work on a new bonus. Please ask questions if there is anything here you do not understand or that I have wrong.