the term they meant is texas lottery "riskless arbitrage".
Buying a whole pizza, then standing in front of the pizza shop shelling the slices for a net profit is arbitrage. but it's risky because you might not be able to sell enough of them (before they get cold, say) to earn back your investment.
when you talk about an arbitrage that is guaranteed profit, that is a riskless arbitrage.
Buying a whole pizza, then standing in front of the pizza shop shelling the slices for a net profit is arbitrage. but it's risky because you might not be able to sell enough of them (before they get cold, say) to earn back your investment.
when you talk about an arbitrage that is guaranteed profit, that is a riskless arbitrage.