The easiest arbitrage bets are the ones where you only need to place two bets to cover all possibilities in the match. This could for instance be a tennis game, where there can only be one winner. Or it could be the “win” market in a football match. Either there is a home team win or an away win. In this case, you will lose money on one bookie and win at the other.
But as your winnings will be greater than your losing bets, you will overall be profitable in every arb you place. And in case of a draw in the previous example, your bets will be refunded back to you. There are also more advanced arbs to take advantage of, for instance a Cross Market sure bet where you will be combining odds from different markets to create a sure bet.