First step in online betting is to create some E-wallet account. More you have more it is better. One of the best are:
Moneybookers is arguably the best E-wallet for the purposes of sports betting arbitrage. It is accepted by the majority of online sportsbooks as a method of deposit and withdrawal, often free from fees (determined by the bookmakers who choose to cover the fee for you or not). Membership is open to most places around the world, and they offer a referral incentive program.
Moneybookers offers a range of free methods of deposit for many specific countries, while credit card deposits into Moneybookers are charged a 1.9% fee. Withdrawal from Moneybookers to your bank account is typically charged a fee of €1.80, or €3.50 for a check. Transferring money between accounts invokes a 1% fee (up to €0.50) for the sender, while the recipient has no fee.
Moneybookers accepts membership from every country in the world, except countries listed by the OECD. Moneybookers accept every major currency, and most other common currencies.
Create your Moneybookers account here.
Neteller is the second contender for the best E-wallet for sports betting arbitrage. Neteller is accepted in approximately as many places as Moneybookers, perhaps even more, but they only accept four primary currencies (USD, EUR, GBP, CAD), they have larger fees, and more limitations.
All credit cards and debit card deposits into your account are charged a 3.9% fee, while other local methods of deposit are also provided and many of those are free. Neteller to Neteller account transfers charge the recipient a 1.9% fee, with a minimum charge of USD$1. Withdrawals from your Neteller account can be made with a Neteller debit card (free to activate, but subject to inactivity fees) for $2 per transaction, while EFT withdrawals to your bank account are free, and withdrawals via check are charged USD$2.
Create your Neteller account here.
E-Gold 
E-gold is actually not a mainstream ewallet, but a number of bookmakers (5Dimes and BetRoyal instantly come to mind) do accept E-gold. The reason I have added E-gold to the list of primary e-wallets is because thanks to recent legislation in the USA, most people in the USA have no way of funding sportsbooks. E-gold is a very private money transfer system, and I suspect that there is no way to stop Americans from using E-gold to deposit into bookmakers.
Other E-wallets
For all intents and purposes, Moneybookers and Neteller are the only E-wallets an arber needs to know about. Following however are some of the other e-wallets and funding methods available for many bookmakers.
Click2Pay
Click2Pay is very worldwide orientated, with a great navigation system for how to deposit and withdraw. With options for deposit and withdrawal from all over the world, they are easy to use for anyone. Uses US GBP and EU currencies. Has limits on weekly spending etc. More details on this soon.
Citadel
Looks good. Multicurrency, lots of information on website, trusted etc.
WebMoney
WebMoney Transfer enables Internet users all over the world to conduct safe transactions in real time, to pay for goods and services via the Internet, communicate with business partners by using voice service or internal confidential WM messenger.
