Do you mean a free bet? Such that you won't have to pay losses?
In this case it's really an 'option', and not a straight spread bet, so you can't arb it. If you wanted to reduce risk here are a couple of ideas: 1-sell £5 as a hedge. If you can do this at the same price then, NET, you will make £5 for every point 'away from' 45 in either direction. 2-are there fixed odds points markets here on RL? You could back the under 45. Problem with this is that if it comes in at 46 you will lose on the under 45 and not make much on the spread bet.
Do you mean a free bet? Such that you won't have to pay losses? In this case it's really an 'option', and not a straight spread bet, so you can't arb it. If you wanted to reduce risk here are a couple of ideas:1-sell £5 as a hedge. If you can do