Getting Started With Value Betting

| 11.01.16 | 0 Comments

To break it down into simple terms, a value bet is when you place a wager on an outcome because you think the odds of it occurring are better than the odds offered by the bookmaker.
Value betting is all about taking advantage of the bookmaker’s oversights. These odds will give the bettor an opportunity, allowing them to benefit and build a long-term profit. However, it all it comes down to having the ability to recognise the value of the bet.

How to work out the value

There’s a simple way of working out the value in a sports bet, you can use the formula Value = (odds x probability %) / 100.

The value bet’s odds will be over 1.00. This means that your average return will be more than your stake, even if the bet is favoured. It simply comes down to your own betting opinion. If you believe that your bet has bigger odds than it should, then you can potentially profit from this. Your wager may not always win but in the long run, professional bettors will make a profit from these value bets.

Recognising the value bet

This is what separates the pros from the punters. A professional bettor knows how to assess the probability of a result. It all starts with holding the knowledge about the particular sport you wish to wager on. There are many more factors to consider with sports betting – injuries, backroom problems, fitness, atmosphere, rumours, form, the weather, and much more. All of these things will have a positive or negative impact on the outcome.

Many bettors like to refer to the statistics of previous meetings, past results, and so on. There are plenty of sports rating systems available online that offer every statistic in the book. Moreover, the internet is flooded with opinions and tips that may or may not be trusted. You can even pay advisory services that provide you with their ‘professional’ betting recommendations.

How you should select your value bet

Well, that’s your choice. Whether you have inside knowledge or have extensively researched the sporting event, as long as it shows promise in the outcome then you’re set to bet. You should carefully check all bookies’ odds. Professional bettors will have a number of betting accounts with various bookies, as one bookie could be offering higher odds, and that’s where you take advantage.

To sum up the value bet

Remember, the value is uncovered by finding the probability of an outcome as more likely to occur than the probability suggested by the bookmaker’s odds.
Once you have that value, you can make a long term profit and win big from a single bet. But, you must have strong knowledge of that sporting event – so stick to what you know!

If you think you have the knowledge to find hidden value, don’t forget: It’s important to have a range of bookmakers to choose from so you can find the best odds. Check out our Top 5 Sports Betting Sites list for our recommended reputable online bookmakers.