Sports wagering is fairly simple. You are always risking some amount of money in hopes of winning another amount of money.
There are three components to each bet:
1)What must occur for you to win your wager.
2)What amount of money you lose if the bet is lost
3)What amount of money you win if the bet is won

Understanding Money Lines:

A Money Line describes both the amount of money you stand to win and the amount you stand to lose. Money Lines are always either a positive or negative number. A positive means that you can risk 100 to win that amount and a negative means that you can risk that amount to win 100. Example: +125 This means that you are risking being down $100 if you lose your bet and you will be up $125 if you win your bet. Or you could risk $200 to win $250, or risk $50 to win $62.50, etc... Example: -145 This means that you are risking being down $145 if you lose your bet and you will be up $100 if you win your bet.
When browsing lines, you may see something like this:
MLB - ATLANTA: S REYNOLDS AT OAKLAND: ZITO
Outcome	Runs	Money Line
ATLANTA: S REYNOLDS		+155
OAKLAND: ZITO		-170
OVER 8.5		-130
UNDER 8.5		+110
ATLANTA: S REYNOLDS	+1.5	-120
OAKLAND: ZITO	-1.5	+100
Each row represents an available wager. The first and second column describe what must take place for the wager to win and the third column describes how much you stand to lose and win on the bet (the money line). Row 1) Atlanta must win the game and S Reynolds must be the starting pitcher. If S Reynolds does not start then you do not win or lose anything, the bet is called off as No Action. The Money Line is +155 You can risk $100 to win $155, which means if you put up $100 on this bet, you will get it back along with $155 in winnings if the bet wins. You will lose your original $100 if the bet is a loss. Row 2) Oakland must win the game and Zito must be the starting pitcher. The Money Line is -170 You can risk $170 to win $100. Row 3) This is what is called an over/under or a bet on the total. The combined scores of both teams must equal a number greater than 8.5 for you to win this wager. The Money Line is -130 You can risk $130 to win $100. Row 4) The combined scores of both teams must equal a number less than 8.5 for you to win this wager. The Money Line is +110 You can risk $100 to win $110. Row 5) This is a spread bet. Atlanta must lose by less than 1.5 runs or win the game for you to win this wager. The Money Line is -120 You can risk $120 to win $110. Row 6) Oakland must win by more than 1.5 runs for you to win this wager. The Money Line is +100 (also called EVEN) You can risk $100 to win $100.

How To Transfer Money:
Most online bookmakers accept money from www.Neteller.com
After going to Netter's website, sign up and create an account. Then you can transfer money into and out of your Neteller account. From there you can send and receive money quickly from the bookmakers.

Definition of Arbitrage:
The purchase of securities on one market for immediate resale on another market in order to profit from a price discrepancy.

Arbitrage can be found in financial markets when the securities being traded are derivatives. When a futures contract trader enters the market, the position is closed out when he takes the opposite position. A trader may open his position by going short (selling) a contract and that trader will be out of the market when he buys the contracts back that he originally sold. These traders can sometime find arbitrage amongst themselves. The same concept applies to sports trading. When Team A is playing against Team B, you have an open position when you take Team A. You can then exit your position by waiting until the end of the game, or by taking Team B. The amounts bet on each side would ensure that regardless of what happens there will be only one possible result. It will amount to guaranteed profit when you bet both sides of an arbitrage.

How To Calculate Arb Value:
Arbitrage value is a way to look at the house(bookmaker's) hold. If the results of our calculation are 101%, that means that the house hold is 1% and there is no arbitrage. When the hold falls below 100%, then we have an arbitrage situation. To calculate this figure we must first understand how to convert our money line to a decimal line.

The following screen shows the money lines in U.S. Odds format, which is what we have seen thus far:

We can see in the top row that SportsInteraction.com has a money line of 2 on the Over 11 Boston/St Louis Total. This means that if you risk $1 then you will get your original $1 and another $1 in winnings if you win this bet.

BetGameDay.com has the other side of this bet with a 2.05 line. This means that if you risk $1 then you will get your $1 and another $1.05 in winnings if you win this bet.

Arbitrage Formula: 1/Decimal Line + 1/Decimal Line Using the above screenshot: 1/2 + 1/2.05 = 98.8% (round to the tenths) There is a 1.2% return on this combination. The result of our formula is less than 100% which means arbitrage. The lower this number goes, the better for the arbitrageur.

A Good Sized Arbitrage:
A reasonable return on a typical arbitrage is around 2% to 4%. Very large arbitrages are best left untouched because things that look too good to be true, often are.

Ignore List - Disregard The Irrelevant:
When you click the Options Button, you will see two lists. On the left there is the Active Lines and on the right is the Ignore Lines.

Here we move various bookmakers to the Ignore Lines list and keep only those bookmakers that we are interested in. Setting The Arbitrage Alarm: We can set the Arbitrage Alarm to sound when our arbitrage formula produces results less then a specified percentage.
Enter Lines Button to Include Your Bookie:
	This menu allows you to enter in lines from bookmakers which are not included with the WinRskFree software. Simply fill out the fields and press the Enter/Update This Line button. When you want to modify a line, simply enter it in again the same way.

Verifying and betting the arbitrage:
When a suitable arbitrage is found, there are a few steps which are necessary to take full advantage.

Step 1) Press Stop on the Software. You do not need the software actively updating lines at this point. It will intentionally use all of your resources so that it is quick to update the lines. Now your computer resources are best dedicated to your efforts in verification.

Step 2) Double Click the cell which displays the bookmaker's name. On each row, there are two cells which display the relative bookmaker for that line. By double clicking there, or on the middle display where bookmakers are also listed, you will open their website. Then you must find those lines and verify that they exist.

Step 2) Log into your accounts at both sites and place the wagers as simultaneously as possible. Remember, the lines can change at either bookmaker at any time, so there is an element of risk here.

How the Software Obtains Lines:
The software downloads the web pages which display live lines from each bookmaker. It then decodes them to extract the lines for analysis.

Why A Bad line May Be Displayed:
The logic used by the software to pull lines is not perfect. It assumes that the HTML format has not changed. Any of these site owners can change their format at any time, and some definitely will in the future. When this happens, the software may not show any lines from that site, or it may show wild numbers that do not correctly reflect the bookmaker's lines. When you see something like this, please report it to us. We fix it and remotely upgrade your software as soon as we are aware of the problem. Despite these occasional problems, you will find that getting your lines directly from the bookmakers is far superior to any competing system.

Why The Top Display Flickers Blank:
Occasionally a wager will be listed twice on one bookmaker with different lines. This is often due to a double-header in MLB. Despite our best efforts, the variations that bookmakers use to show double-header games is too vast to incorporate. Therefor, when we find a game that is part of a double-header, we remove all lines relative to that event from the display. This removes the possibility of the first game being compared to the second game. The main display is completely cleared and rebuilt when this happens, which is why it goes blank for a second.

Why The Software Slows A Computer:
Building the content for the main display involves cross querying many lines and will use quite a bit of your computer resources for a second, possibly causing your computer to momentarily slow. Sometimes the techniques used by the software to pull lines require momentary focus, which means that if you are typing in another application, you may lose focus and have to click that application again to resume typing. If this is a problem, move all PINCL lines to the ignore list and this should stop happening. When you find an arbitrage, push the stop button to pause the processing. This will relieve resources for you to verify and place your wagers.

Strategies Using The Software:
In addition to arbitrage wagering, there are other ways to use this software. The middle display shows all available lines on each side of any event.
The Speculator Strategy) The middle display will always reflect the row that is selected from the top display. By clicking different combinations, you can see how the arbitrage value is affected. This display shows which bookmaker is most off from the average lines. When part of the arbitrage is caused by a bookmaker who has a stray line (stray from all of the other bookmakers), then you can just bet that side. This likely means that bet has an edge. Betting both sides will give you arbitrage, but only betting the best side can be a powerful strategy for speculators.
The Bonus Hunter Strategy) Many bookmakers offer bonuses on deposits. Sometimes you must wager a certain amount before you can withdraw that bonus money, but they all let you bet it immediately. With a break-even arbitrage, you can lose that bonus money and win it in a non-bonus bookmaker which will allow you to withdraw all funds immediately. Or you can just bet break-even or better arbs until you have completed your action requirements and then withdraw the bonus.