David Jago had been a bookie himself, so he knew how much money was up for grabs – if the system could be made to work. Arbitraging odds is the holy grail of sports betting. In theory, it offers risk-free returns of more than 100 per cent per year. The way it works is this: different bookies offer different odds on sporting events. So, there’s an opportunity to profit from the difference between two sets of odds. If a person can take one side of a bet with one bookie at one price (Ireland to win), and the other side…

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