There are many different names attached to the art of sports arbitrage betting but the basic concept is a simple one, and one that is highly attractive to anyone who regularly bets on sporting events.
The major concept of this style of betting is to place a number of bets on all of the potential outcomes of a sporting match or event in order to be guaranteed a profit at the end of the match. In theory, this is the perfect situation for sports fans as it means that a profit will always be obtained in a match, which is a no lose situation. In theory, the size of returns will be smaller than if a successful straight bet was placed but the real reason why arbitrage betting is so popular is because it does away with the risk element of sports betting.
If you are guaranteed to make a profit and there is no risk involved with the activity, then sports arbitrage betting is the equivalent of buying money. This may be against some of the ethos of sports betting where people pit their wits against the bookmakers but the opportunity to make money with no risk at all is extremely enticing to many people, which explains the huge popularity of these systems.