These arbitrage setups are easier to achieve in the in-running betting on the sports events.
Tonight for instance it was possible to back Australia out to about 1.80 while England were going OK in the first 10 overs and now at the change of innings can lay them back at 1.13.
Backing Australia early still required the accurate assumption that they were going to get back into it at some stage, which is a far better bet for mine than hanging for the Betfair odds to follow the IAS odds in the much thinner markets at the races.
This seems to be where the big players are arbitraging, about 100,00 was bet on Australia in this period at better then 1.70 and more than 2.5 million has been matched total, huge.