Should I pivot from arbitrage to value bets?
I've been running an automated arbitrage strategy on live sports for the past few weeks and it has been profitable overall (avg ROI 2.8% per bet).
However, I've noticed that a few times the algo has had problems filling both sides of the arb, resulting in bigger losses.
I did some analysis on the past betting data and noticed that I would have made at least 1.5x the profits by only placing bets on the soft book (ROI ~22% from those +EV bets). Though I should mention that the sample size is quite small (31 bets), which could affect the results.
So my question is, should I pivot to doing value bets by using the sharp book as true odds and only placing bets on the soft book? Also, I would appreciate any additional advice since I don't have any previous experience of doing automated value bets.
Thanks in advance.
EDIT: "at least 1.5x the profits" is incorrect, the analysis suggests the strategy would have made closer to 3x the profit.