This morning
@ESPNBet
took a lot of action on the Houston Texans. We think this might be
@MattressMack
related, but are not sure.
This built up an enormous liability for ESPNBet, who now will be rooting very hard for the Ravens to cover -9.5, so their users bets lose.
As a result of this position, the
@ESPNBet
trading team made an interesting moveðŸ§
They decided to BOOST:
Ravens -9.5 to +110
Ravens -10.5 to +140.
Boosts are a normal part of sportsbook operations, however, these boost had NO LIMIT. Users can bet up to $2.5m on each of…
This was specifically done to offload risk on their position (I hope).
They now have bettors coming in and betting the Ravens, balancing out their books from their Texans action.
The best part of all this?
@ProphetExchange
is seeing a ton of arbitrage.
This morning we have been flooded with Texans +9.5 and Texans +10.5 bets.
This is because as a betting exchange, we have the best odds on both of these bets. You can bet:
Texans +9.5 at +100
Texans +10.5 at -128
Again, both of these are the best prices in the country.
Users can bet:
Texans +9.5 at +100 and Ravens -9.5 +110
Texans +10.5 at -128 and Ravens -10.5 +140
Each of these 'arbs' allows users to make free money, ESPNBet to balance it's book, and
@ProphetExchange
to see a ton of volume.
We have already seen ~$500k of matched volume on these positions, and will continue to offer the best prices and high liquidity for the New Jersey arbitrage community.
Here
@ProphetExchange
we don't limit and encourage arbitrage.
Best of luck to everyone out there today.