Sports Arbitrage Discussion Forum

stars
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ARBing from America
« on: Jun 3^rd, 2010, 11:07am »

I understand it can be difficult to effectively ARB from America due to a lack of services like NEteller. However it seems like you could setup a neteller account using offshore bank accounts in sweden, and possibly employing an out of country proxy server to mask your US IP address. You could even employ a foreign mail drop is necessary. I've never tried any of this but the idea seems sound. Any input?

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Staro Full Member Posts: 117 Reputation: 0	Re: ARBing from America « Reply #1 - on: Jun 4^th, 2010, 4:19am » How do you prove your identity with non-US documents ?
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Viridian
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Re: ARBing from America
« Reply #2 - on: Jul 10^th, 2010, 8:35am »

Hey Stars,

No real help here from me, I've just joined and have the same question. Your ideas seem sound to me. And the Neteller account is a MUST.

The input I can give is that IdentityCloaker works as advertised. The bonus is that you can watch Netflix from outside the US and BBC viewer outside the UK.

I'll be watching this thread for any helpful pointers but it does appear that US citizens who wants to arb should probably use a service to set up an offshore IBC or Trust.

Not sure I understand the previous post. Does an arber need to provide proof of ID when opening accounts with bookmakers? I've not made it that far yet.

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Jontheman Global Moderator Posts: 1618 Reputation: 17 Gender:	Re: ARBing from America « Reply #3 - on: Jul 10^th, 2010, 9:17am » If you want to make a withdrawal you will need ID docs to verify your address.
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Viridian YaBB Newbies Posts: 3 Reputation: 0 Gender:	Re: ARBing from America « Reply #4 - on: Jul 10^th, 2010, 9:24am » A withdrawal from the bookmakers? They require ID docs and address verification? Or are you referring to the ewallets? Serious novice here.
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Jontheman Global Moderator Posts: 1618 Reputation: 17 Gender:	Re: ARBing from America « Reply #5 - on: Jul 10^th, 2010, 10:41am » Withdrawals from most bookmakers will require these documents. Ewallets like Moneybookers will have similar procedures.
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Viridian YaBB Newbies Posts: 3 Reputation: 0 Gender:	Re: ARBing from America « Reply #6 - on: Jul 10^th, 2010, 10:50am » Just for clarification: To withdraw to an ewallet like Neteller you need to provide these docs to the bookmakers? Thanks.
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Jontheman Global Moderator Posts: 1618 Reputation: 17 Gender:	Re: ARBing from America « Reply #7 - on: Jul 10^th, 2010, 2:16pm » For many books they will want them to withdraw anything, by any method.
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james007
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Re: ARBing from America
« Reply #8 - on: Jul 23^rd, 2010, 8:03pm »

Just joined here and read your question of "Arbing From America", as I had the very same question. It does not seem anyone has set-up an account outside of the U.S. while living IN the U.S. and doing arbitrage trading. There must be a way!!
We are talking about making an extra $50k to $150k a year.
I have done a little research (very little) on the subject. Let me share what I have so far.
I would want to open and account in Canada ( its close to where I am in the states). Lets say with the Canadian Trust, Canadian Imperial Bank of Commerce, Bank of Nova Scotia or Royal Canadian Bank. These are the leading banks in Canada. I could open a non-resident account right now with a U.S. ID - but that won't do. I need to show residence. The bank requires identification proof for a temporary and or permanent residents.

You can offer any two identification proofs recognized by the Government such as Canadian driving license, Social Insurance Card, Passport, or Provincial Health Card. The bank may also ask for any residential proof in the form of any utility bill. If you are an immigrant, then the bank might ask for a reference from your firm or university. It's best to check on line what bank requires what items to open an account. Maybe renting a small apartment so you can receive a utility bill and telephone bill may have to be done.

Having all your mail sent to a Canada mail-forwarding address back to the states would keep your mail coming back to you. Establishing a professional IP Cloaker Service before visiting any bookmaker sites would prevent any detection that you were in the U.S. when a transaction was placed. Both of the large E-Wallets will now do business with you.

Alright this does seem like a lot of leg work to set up the appearance of being a Canadian resident but are we not talking about $50k to $150K tax free additional income each year? We would make back all of the costs to set this up in a short time after a few trades.
That's all I have and just wanted to know if the whole idea may seen plausible to you.

Please Let me know what you think.
James...

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Jenx
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Re: ARBing from America
« Reply #9 - on: Jul 24^th, 2010, 1:10am »

Firstly, making $50k to $150k PA as a newbie is a little unrealistic, its possible, but you will struggle. Even with a big enough Bankroll, the books will restrict you and you are going to find it difficult to open up new accounts consistently in a foreign country.
A lot of the books will require photographic ID, so unless your driving licence is Canadain and/or your passport, you are going to struggle.
I wish you well, its difficult enough in a Country where gambling is allowed, without having to jump through more hoops.
Jenx.

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Who cares who wins

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Jontheman
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Re: ARBing from America
« Reply #10 - on: Jul 24^th, 2010, 2:51am »

Bear in mind that 99% of newbies fail (compare the number of registered posters on this forum to the number still active), in which case you have all of the expense for none of the benefit. Do you like gambling...?

As Jenx says 50-150k earnings are possible but extremely unlikely, especially if you are part time (the "extra" in line 3 of your post implies this).

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"It is a decadence to become a gambler, when you've been a great arber." Nikos, 2009

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N_O_Y_B
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Re: ARBing from America
« Reply #11 - on: Jul 24^th, 2010, 3:22am »

anything short to buying, possibly renting, an appartment there won't work (as you seem to conclude yourself, but i'm not sure you really do as you go on talking about mail forwarding addresses which won't help you), unless you're prepared to fake utility bills etc.
the fact you don't have a canadian passport isn't an unsurmountable problem, us citizens are allowed to gamble, just not in the us. i'm 100% sure there are books though that will ask you for official government proof you are now officially registered in a municipality in canada and this is your current primary living address (sorry if my english is off here, i don't exactly know the english word for the document i'm trying to describe), which is a problem if you only live in canada on paper. on top of this, you have some obvious tax problems where to declare your winnings.
the 50k / 150k a year you throw around is unrealistic unless you have the right background and have experience. in general though, it's not like this is a figure anyone trying this out can hope to earn, especially not now (not even 5 years ago but then all was a lot more easy).
either you've got your expectations wrong or you have some reason to think you're good at this and in that case, why not just relocate completely.

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tribet3 Full Member Posts: 121 Reputation: -1	Re: ARBing from America « Reply #12 - on: Jul 24^th, 2010, 3:59am » Quote from N_O_Y_B on Jul 24^th, 2010, 3:22am: why not just relocate completely. You've not been to Canada have you.
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