Odds & Ends: Unraveling the Surebet Playbook

This report analyzes arbitrage (“surebet”) fraud in the iGaming sector, detailing how perpetrators automate odds collection and bet placement across multiple bookmakers using bots, multi-accounting, identity theft, and bonus abuse, then withdraw and launder funds through mule accounts, e-wallets, and cryptocurrency (including mixers). It maps the full modus operandi, scaling strategies, and key risk indicators, and recommends multilayered defenses—KYC/AML, MFA, device fingerprinting, bot protection, rate limiting, behavioral analytics, anomaly detection, transaction monitoring, and withdrawal controls—to detect, deter, and disrupt bot-driven arbitrage and associated money laundering.