Arbitrageurs Already Exploiting Super Bowl Prop Bets

So, I get a text from my friend,  Ray N., in San Diego regarding our last post,  Ten Strange Super Bowl Prop Bets.

The first bet reads:

The odds are 19 to one that some fan will troll Brady by tossing a deflated football to remind him of that debacle

deflate_jan3

Ray’s text:

“I’ll take 19 to 1 for $1,000, pay some fan $9,000 to throw the ball out there and pocket $10,000.” – Ray N.

Wow!   Who is the dumbass making that book?

I would top Ray by going to game as ticket prices are plummeting and throwing the ball myself.  Probably cost me $5,000 tops.  Maybe another $500 to get out of jail.

Would this be an arbitrage or considered a fix if Ray follows through?   Sometimes it is hard to tell the difference in certain markets.

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