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Because 95. Another way to think about how to bet on college football online is to convert American odds into implied probability. Betting $5,000 on both sides of the event in our example would lock in a guaranteed $500 profit. While hedging requires taking an offsetting position later on (to either guarantee a profit or reduce risk), an arbitrage bet involves bet on all prospective outcomes at the same time. Arbitrage Betting in Action This means that arbitrage betting is impossible without line shopping. best online sports bettingcasino free onlineyoutube, rumble & vimeo.