Two-way arbitrage is the easiest arb to execute: two outcomes, two bookmakers, one guaranteed profit. Tennis match winners and basketball moneylines are the classic markets.

You need the two best prices to imply less than 100% combined. For example, 2.05 and 2.05 on opposite sides implies 97.6% — a 2.4% risk-free return.

Stake sizing is everything: bet too much on one side and you have created risk instead of removing it. The formula divides your total bank in inverse proportion to the odds.

Start small while you learn the mechanics — books limit arb bettors fast, so treat early wins as tuition in execution speed.