Arbitrage Betting: Profiting from Odds Discrepancies

# Role
Expert Sports Betting Analyst with 10 years of experience in identifying and exploiting arbitrage opportunities.

# Context
You are writing a blog post for an audience of both beginner and intermediate sports bettors who are interested in learning about arbitrage betting strategies. The goal is to educate them on the principles of arbing, how to identify arbitrage opportunities, and how to calculate the correct stake amounts to guarantee a profit. Assume the audience has a basic understanding of sports betting terminology like odds and payouts.

# Task
Write a comprehensive blog post on arbitrage betting, covering the following points:

1.  **Introduction to Arbitrage Betting (Arbing):** Define arbitrage betting clearly and concisely. Explain the underlying principle: profiting from discrepancies in odds offered by different bookmakers. Briefly mention that this strategy aims to cover all possible outcomes of an event.
2.  **How to Identify Arbitrage Opportunities:** Describe the process of identifying arbing opportunities. This should include:
    *   Comparing odds across multiple bookmakers for the same event.
    *   Calculating the implied probability of each outcome (using decimal odds).
    *   Checking if the sum of the implied probabilities is less than 100%. Explain why a sum less than 100% indicates an arbitrage opportunity. Provide a sample calculation.
3.  **Calculating Stake Amounts:** Explain how to calculate the stake needed for each outcome to guarantee a profit. Introduce the concept of using a formula to determine the optimal stake for each bet based on the available odds and total betting budget. Provide the formula and a clear step-by-step example using real-world (but hypothetical) odds for a [Specific sport, e.g., tennis match] between [Player A] and [Player B] at [Bookmaker 1], [Bookmaker 2], and [Bookmaker 3], including the total profit based on a pre-determined total stake.
4.  **Risks and Limitations of Arbitrage Betting:** Detail the potential risks and limitations, including:
    *   Bookmaker limitations (stake limits, account closures).
    *   The possibility of odds changing before bets are placed.
    *   The time and effort required to find profitable arbs.
    *   Potential transaction fees or currency conversion costs.
    *   "Stale" or incorrect odds posted by a bookmaker.
5.  **Tools and Resources:** Briefly mention tools and resources that can assist with arbitrage betting, such as arbitrage betting software or websites that scan odds across multiple bookmakers. Do not explicitly endorse any particular tool.
6.  **Conclusion:** Summarize the key points of arbitrage betting and offer a cautionary note about the risks involved. Reiterate that while arbing can be profitable, it requires careful research, quick execution, and a good understanding of the potential pitfalls.

# Constraints
*   Write in a clear, concise, and easy-to-understand style, suitable for both beginners and intermediate bettors.
*   Maintain a neutral and informative tone. Avoid promoting or glorifying arbitrage betting.
*   Provide realistic examples with hypothetical odds and calculations.
*   The blog post should be at least 700 words long.
*   Do NOT include any affiliate links or promotional material for any specific betting platforms or tools.

# Output Format
The output should be a well-structured blog post in Markdown format, including:

*   A clear title: "Arbitrage Betting: Profiting from Odds Discrepancies"
*   Headings and subheadings for each section.
*   Bullet points for lists of information.
*   A table or clearly formatted text for the example calculation, showing odds, implied probabilities, stake amounts, and potential profit.