Arbing vs value betting

People lump arbing and value betting together because both involve hunting good prices, but they're almost opposite temperaments.

Arbing (arbitrage) means backing every outcome across different books at prices that guarantee a small profit whatever happens. No variance, no opinion, just spotting the gap and acting fast. The downside: profits are thin, the windows close in seconds, and books limit arbers quickly.

Value betting means backing a single outcome you believe is underpriced, and accepting that you'll lose plenty of individual bets. More variance, more judgement, and a higher ceiling if your read on probabilities is good. Most long-term winners lean on value; arbing is more of a low-risk grind.