For several years now, Americans (or anyone living in the USA) have had a very difficult time using the majority of online sportsbooks. It was clear that the laws in the USA were written in an attempt to stop sportsbooks from taking bets from USA citizens, and so most of the online sportsbooks based in Europe, Australia and England simply stopped accepting players from the USA.
Worse than that, key payment processors, primarily Moneybookers, stopped accepting payments from Americans to online sportsbooks! They did this, because if they accept such payments, they would be the ones being put in prison, not the person making the payment. So they had to stop it.
What I am getting at here, is that if you live in the United states, then becoming an Arbitrage Trader is very difficult. It is so much more difficult for you, than it is for everyone else, that I dare say that it is probably not worth it… Not at this stage anyway. Not until they change the laws (and trust me – everyone involved in the online gambling industry in one way or another, myself included, are eagerly awaiting for that day!)
How Hard is Arbitrage Trading as an American?
So arbitrage trading as an American is very hard because you have a much smaller pool of sportsbooks to use, and even then you have to use slower methods of payment and withdrawal with those books. Since arbitrage works through a large pool of books being regularly funded and withdrawn from, the setup is against you. Most importantly I guess, the key books, Pinnacle and Betfair, are both inaccessible to you, which is the most difficult thing to overcome. Sure, you can arb without them, but you are losing so many arbs when you lose those two books, that the extra effort seems very unlikely to be worth it without that extra profit.
What Are Your Options?
If you are dead keen to do arbitrage trading, then your best bet, quite honestly is to move to Canada, or Mexico or somewhere else entirely.