What is Arbing? What is Arbing Betting? Arbing is a form of betting where you can bet on all outcomes of an event and still make a profit. You do this by simultaneously betting on all outcomes on different bookies that guarantee profit, whatever the result of the sports event. Arbing has been around since bookmakers began but the rise of online bookmakers & the competition between them has led to an increase in the amount of arbing opportunities that have arisen.