ARB208: Security measures to take when arbing
Before getting started with any arbitrage experience, there are certain measures that each arber should take to ensure complete security of their funds and personal information. If your eWallet or bookmaker accounts are compromised then your funds and possibly your identity are at risk.
Fundamental security measures
The following simple steps will increase your security and decrease the chance of fraud against you. Although it seems common-sense, please do not underestimate the importance these security measures.
- Use strong passwords
Passwords should be at least 8 characters long, contain a mix of uppercase and lowercase letters, contain at least one number, and contain at least one symbol.
You will need to remember, and be able to quickly type, some passwords so avoid passwords made up of completely random characters. Instead, something like “pa$sW70rd” is appropriate.
- Use an up-to-date anti-virus
Arbers should have an anti-virus and firewall software installed on their computers. There are plenty of anti-virus packages on the market and we do not have a preference as to which one you have, as long as you have something.
If you are using Windows and are reluctant to spend money on an anti-virus, then Microsoft provide a free anti-virus which doesn’t consume large amounts of system resources.
Enhanced security measures
Below we explain two additional security measures that can be implemented for those seeking the highest level of security. These enhanced measures are optional and admittedly Sports Arbitrage Australia has never personally employed these measures:
- Get an eWallet security token
A good quality eWallet service (such as Skrill Moneybookers) will have the option to obtain an electronic security token to avoid unauthorised account activity. A security token is a small device with an LCD screen that generates unique passwords for logging into your eWallet account.
In addition to the additional login security, Skrill Moneybookers VIPs that use security tokens get a guarantee that any funds lost from unauthorised access of your eWallet account will be reimbursed.
Skrill Moneybookers VIPs get a security token for free, otherwise there is a nominal fee of approximately $15 to buy one – a small price to pay for the enhanced security and money-back guarantee.
- Have a separate computer just for arbing
Keeping a clean computer which is used solely for arbing will greatly reduce the chance of virus and malware attacks. Avoid putting games, pirated software, music or videos on this clean computer because you want to keep it solely for arbing.
Two added benefits of such an approach are:
- the less software there is on your arbing computer, the harder it is for bookmakers to identify you as an arber; and
- a clean computer is easy to format and re-setup at a future point in time should you wish to use it for other purpose.
Alternatively, it is possible to run many ‘virtual’ computers on the one physical computer. This achieves the same result as having separate computers, plus the best virtual machine software packages are free anyway so you don’t have the expense of buying a new computer just for arbing – read our lessons on arbing for multiple users (found in the in the post-arbitrage section of this website) for more information.