What is a Value Bet within betting?
This term is one of the most common in the sporting betting world. Value Betting is also one of the best techniques in gaining profit for punters. In sports betting, taking a value bet is more of a mathematical chance, instead of picking an outcome first using form and stats. Basically, you are looking for value in the bet or the market, regardless of what it is. This is opposed to the typical way of betting the other way around. Where you find an outcome which makes sense to you, and then you see the best price you can get on it.
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What is a Value Bet?
The best way of defining this type of bet is simply, if you think that the odds are more significant than the mathematical chance that the team has of pulling off the result, you will have a value bet. So, if a boxer has a 50% chance of winning, but the odds on the other fighter are evens, then the bet value is better than the mathematics odds, here you have a value bet.
Value Bet Example
It is rare that there is value in backing the favourites since, knowing that most punters are willing to support theses bigger sides. So the odds on teams such as Manchester City, Barcelona and Bayern Munich are always low. But since it is impossible that these big sides win every single game, there is sometimes value in backing their opponents at higher prices should the situation favour them, such as the big team coming off a Champions League fixture. As this is when most of these teams lose fixtures, as they have to use more energy to play twice a week.
The aim of value betting as we now know is to assess the likelihood of an event more accurately than bookmakers or other users on an exchange. To do this, it is vital you think in probability and not just look to back favourites by assessing each team’s chances of winning rather than merely by who you believe will win.
The main problem with this form of betting is that no bookmaker will offer you the value situation, as the risk of the bookie of losing is 50/50, and that wouldn’t be beneficial to their business. This is why they offer odds that are typically less than value betting. But should the right research be completed, you won’t need the bookmaker’s assistance with this anyway.
Advantages of Making a Value Bet
The key, as is the case with all betting is research until you can’t research anymore. But should you not enjoy this part of gambling there are tools on the internet that can assist in finding this information. This means that you really get out what you put in with regards to value betting. If you do all the research and preparation work, the chances are you will be reaping in the benefits come game day.
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