Keen on getting started with arbitrage betting in the US or Canada but can’t find any software that covers bookmakers and sports in these countries? Well, OddsJam might be exactly what you need.
In this OddsJam review, I will be taking you through the pros and cons of their software, showing you how it works and finally, letting you know whether I think it is worth it or not!
Sound good? Let’s get started!
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OddsJam have generously agreed to offer 35% off the first month of their software for readers of The Arb Academy!
Click the button below and use the code 'TAA22' at checkout to access your discount!
Pros and Cons
Before we take a look at how the software itself works, let’s take a look at the main pros and cons of OddsJam relative to the other options out there.
Layout and Interface
The first thing to be aware of with OddsJam is that their software runs entirely in your web browser, there’s no need to download anything at all.
If you’ve read my other reviews, you’ll know how important layout and interface is when using betting software.
Profitable sports betting involves placing lots of bets with high stakes and small profit margins. If the software is difficult to navigate and displays odds in a confusing manner, it’s much easier to make mistakes and turn a profitable bet into an unprofitable one.
Thankfully, the OddsJam interface is excellent, actually one of the best that I have ever seen. OddsJam seems to have been built initially as an odds comparison tool, so it has been built with the interface in mind from Day 1.
The software itself consists of 4 main sections:
- Odds comparison
- Betting tools (profitable bets)
- Bet tracker
Let’s take a look at the odds comparison and betting tools sections.
This section is basically what you would expect - a comparison of betting odds for a variety of matches. Note that this section doesn’t show just profitable bets and odds, it shows all odds from all supported bookmakers.
Matches are sorted by the start date, with upcoming matches displayed first. Once clicking on a match, you can see all of the available markets for that match and below, the various sportsbooks that are offering odds for that particular market and match.
The best odds are highlighted in yellow.
This section is broken up into 7 distinct sports.
The betting tools section is like the odds comparison section, but filtered to show only profitable bets. It isn’t filtered by sport, it shows all sports together.
You can choose from arbitrage bets, low-hold bets, middles and positive EV bets (what I normally refer to as value betting).
The arbitrage bet section is probably where you will spend most of your time, as these are the risk free bets that probably made you interested in OddsJam in the first place!
This section shows arbitrage bets, sorted by most profitable. From left to right, it shows the arb profit margin, match start time and date, sport and participating teams, odds and sportsbooks, plus the market in which the arbitrage bet exists.
I like the way that each match/market combination with an arbitrage bet is shown as a single line. This makes it easy to go through the arbs and see which ones you have already placed bets on.
On the far left, you can click on the calculator icon to bring up an arbitrage betting calculator in a pop up.
If you click on the rest of the row, you can bring up a detailed comparison of the sportsbooks offering odds for this market and match, much like the odds comparison section.
Note that the software won’t just markets and bookmakers with odds that constitute arbitrage bets, they will show all bookies and their odds, so you need to take care here.
There’s also no way to bring up an arbitrage betting calculator here with the odds pre-filled. You will need to open an arbitrage betting calculator in a separate tab and enter the odds manually, which is time consuming.
Arbitrage bets typically only last for a short time before the bookmakers change their odds and the arbitrage bet disappears. It would be good if OddsJam integrates an arbitrage betting calculator to this screen in the future.
While the bookmaker odds are presented in an easy to understand manner here, it is difficult to know at a glance which odds constitute an arbitrage bet and which don’t.
It also isn’t easy to know how much you should stake without separately entering the odds in another calculator. This makes it more likely that you will make a mistake, or miss out on the arbitrage bet before it disappears.
This section is useful for those looking to turnover any bonus bets to meet the terms and conditions of the bonus and ultimately withdraw the funds.
If you can’t find an arbitrage bet to use your bonus on, come here and find a low-hold bet, which is a set of bets where the bookmakers have a very low (or no) profit margin.
That way, you can turn over your bet without losing much of it to the vigorish.
It also shows the conversion percentage, which is how much of the bonus you will convert to cash that you can withdraw. A higher number is better here. Low-hold bets with higher odds will have better conversion percentages, so look for them.
You can filter the bets by bookmaker and by conversion percentage.
Middles are a type of profitable bet whereby it is possible to win both sides of the bet at the same time and profit heavily.
Positive middles are arbitrage bets which have the potential for both sides of the bet to win, whereas negative middles are not arbitrage bets, but have the potential for both sides of the bet to win under a particular set of circumstances.
You can read more about them in my guide to middles.
OddsJam seems to have almost no positive middles, just negative middles. Negative middles can be profitable in the long run, however, and it is often worth doing them if you have been winning a lot with a particular bookmaker and you want to improve your reputation with them.
Here’s an example of what the middles look like in OddsJam.
Positive EV Bets (Industry Plan Only)
The last betting tools screen is the one for positive EV bets. I normally refer to this as value betting, yet this term is less common in the US.
Rather than betting on both sides of an arbitrage bets, you just bet on the side with the overpriced odds in positive EV betting. Although you won’t profit every time like arbitrage betting, you have a higher Expected Value each time, so your profit will be higher in the long run and with enough bets.
Just be aware that you do need to place many, many bets to have a statistically significant chance of being profitable. Read more about this on my guide to value betting.
OddsJam calculates their positive EV bets based on the Pinnacle odds once the vigorish has been removed. If a bookmaker has higher odds than the Pinnacle no-vig odds, these odds are deemed as being a value bet.
Look for bets with higher positive EVs, as these are the ones with the greatest profit potential.
Unfortunately, OddsJam doesn’t offer a staking calculator here. Typically the Kelly Criterion is followed when calculating your stakes for value betting, to minimise the likelihood of going bust in the long run from a run of bad luck.
OddsJam leaves it up to you do the staking here, which is not a good idea in my opinion.
Until OddsJam implement this feature, you can use The Arb Academy’s value betting staking calculator.
Number of Profitable Bets Found
An important part of any profitable betting software is the number of bets it is able to find. If it can only find a few bets each day, you will have trouble making much money after you’ve paid for the monthly subscription fee.
While testing the tool with the Industry Plan, I had a look at how many bets of each type it was able to find:
- Arbitrage betting - 10 bets
- Low-hold - About 50 bets
- Middles - 0 positive middles, 38 negative middles with <-4% profit w/out hitting the middle
- Positive EV - 22 bets at >1% EV
When compared to European betting software, these numbers are very, very low, yet it is important to be aware that much fewer sportsbooks operate in the US, so there are proportionally fewer profitable bets.
In saying that, I was hoping for a little more than just 10 arbs. This is OK, but not great for someone who has plenty of time to spend on arbitrage betting.
22 positive EV bets was pretty good, however, and definitely a reasonable number.
There weren’t any positive middles, but this is unsurprising when you consider that there were only 10 arbitrage bets on the platform to begin with.
Of course, these numbers will vary greatly depending on the day of the week and the time of the day, so give OddsJam a free trial and see how many you can find with your preferred bookmakers and sports.
OddsJam covers around 30 sportsbooks in total, with more being added regularly. This is fewer sportsbooks than most European betting software, yet there are simply fewer books operating in the USA and Canada, so this is still a reasonable number.
Here are their supported sportsbooks.
- William Hill
- FOX Bet
- Wind Creek
- Four Winds
- Betway (Canada)
- 888sport (Canada)
- Elite Sportsbook
- Bally Bet
OddsJam only covers 7 sports, which is lower than most other betting software. However, these are the most popular sports in the US, and this is where the majority of all arbs and value bets come from.
The 7 sports are:
As any decent betting software should, OddsJam include a few betting calculators. However, when you consider their software as a whole, I feel that the calculators are their weak point.
They have the following three calculators:
- Arbitrage betting calculator
- Freeplay calculator
- No-vig fair odds calculator
Arbitrage betting calculator
Let’s start with the arbitrage betting calculator. This calculator is very simple and covers just the absolute basics of an arbitrage betting calculator.
It is missing a number of features that more advanced calculators have, such as 3 way arbitrage bets, different odds formats, multiple currencies, biasing of stakes to favour an outcome as well as rounding of odds to avoid suspicion.
Thankfully, there are a number of other calculators out there that include some or all of these features, such as The Arb Academy’s arbitrage betting calculator.
My other problem with this calculator is that there is no way to bring it up with auto-filled odds when on the odds comparison page. This means that you have to enter the odds manually in this calculator in a separate tab, which is time-consuming.
The freeplay calculator is used to hedge bonus bets, thereby unlocking them from their conditions and allowing you to withdraw them as cash.
This calculator works pretty well.
No-vig fair odds calculator
Finally, there’s the no-vig fair odds calculator, which determines the ‘true’ odds after removing the vigorish (profit margin) that the bookmaker has added to their odds.
If the calculators are their weakness, the Bet Tracker has to be one of the main strengths that I have found in this OddsJam review.
It is rare to get such a detailed bet tracker for an arbitrage betting software; these are usually reserved for value betting software only, as the inherent variance in this makes tracking essential.
The bet tracker itself is broken up into two parts. Firstly, there is tracking of individual bets to determine profit/loss and more over your entire betting system.
Secondly, there is tracking of deposits and withdrawals from individual sportsbook accounts to help you keep track of how your funds are distributed, and whether you need to top up certain accounts.
In addition, there is a dashboard that is displayed when you log into OddsJam, this gives you a number of interesting stats about your betting at a glance. The picture below is of my test account after just a few bets.
I really like having these stats so easily accessible.
It’s nice to see how you are performing at a glance, and seeing good results can help give you motivation to press on and stick with the betting system that you are using (be it arbitrage or positive EV betting).
This is unfortunately another weakness of OddsJam. Filtering of arbitrage and value bets seems virtually non-existent. There is no way of filtering by bookmaker, sport, match start time or profit margin.
These features are present on virtually all other arbitrage betting software, so hopefully OddsJam goes ahead and implements this soon.
As the legislation around sports betting in the US is rapidly changing and highly dependent on the state you live in, OddsJam allows you to select your location and thereby see different bookmakers and odds.
Not all bookmakers operate in all states, so this is quite useful.
OddsJam doesn’t seem to place much emphasis on defensive betting, yet if you have read my other articles, you will know how important it is to stay under the bookmakers’ radars and avoid their suspicion.
OddsJam doesn’t make it easy to round your stakes in their calculator as I mentioned earlier, which is one of the easiest ways to blend in as a regular punter.
OddsJam have two separate pricing plans:
- Arbitrage Plan - $99/month ($64.35/month with discount*)
- Industry Plan - $249/month ($161.85/month with discount*)
All pricing is in US dollars and you can get 2 months free by committing to a yearly rather than monthly subscription.
The arbitrage plan is great for those who are interested in doing arbitrage betting, middles and maximizing value from sign up and ongoing bonuses.
The Industry Plan has everything that the Arbitrage Plan has, but it also includes unlimited positive EV bets (also known as value bets). This is great for those who are happy with a little more variance in exchange for greater profits in the long run.
*Whilst these monthly subscription prices are quite high, I’m pleased to offer you a discount for 15% off your first month or year, just for readers of The Arb Academy. Use the button below and coupon code ‘TAA22’ at the checkout to claim this discount!
OddsJam also offer a 7 day free trial, so it’s worth giving this a go to see if they are right for you before you commit to a particular plan.
Want to hear from the OddsJam founder? Check out the video below?
OddsJam Review - Conclusion
OddsJam is the best arbitrage and value betting software that I have seen for the US market to date.
The interface is excellent and easy to navigate, and the bet tracking is amongst the best of the best. Middles are included for free and value betting is included in the Industry plan.
While the calculators and filtering need a bit of work, I’m confident that OddsJam will improve on these in time. As the US sports betting market continues to grow and sports betting is legalised in more states, the value that OddsJam provides will only continue to increase.
Whereas other software partially supports US bookmakers, OddsJam is built for US sports betting from the ground up, making it fully compatible with sportsbooks in all states in which online sports betting has been legalised.
With a 7 day free trial and 35% off your first month, I recommend that you give OddsJam a try and see if they are right for you! I hope that you have enjoyed this OddsJam review!
Want to see this review in video format? Check out my video review below.
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Review Date: 2021-08-06
Reviewed Item: OddsJam
Author Rating: 4.5/5
Product Name: OddsJam
Price: USD $31.85
Product Availability: Available in Stock