It’s an open secret that the world of sports betting revolves around bookies. They make the odds and directly influence what you stand to win or lose on every bet you make. As every punter in sports betting knows, the “odds” of any sports match is the likelihood or probability that an event will happen. If a star-studded football team goes up against the team at the bottom of the league table, everyone is likely to bet on the star-studded team. Simply because their chances of winning are higher, all things being equal. However, because your bookie also knows this, what you stand to profit from winning such an obvious bet will usually be very little, where the concept of value bets and betting plays in. Before you can fully leverage this opportunity, you first understand what value bets in detail so you can use them properly.
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What Are Value Bets?
While a bookie has extensive knowledge of the sports niche and uses that knowledge to determine the odds of each game, they are not all-knowing, which is why in some cases, they will assign profitable odds to a game they feel has little chance of winning when in reality, that isn’t so. Value betting situations occur more often than you might think, and with it comes the chance for you to cash out big and fairly regularly. Perhaps what makes it so great is that it doesn’t require that you have a degree in mathematics or any related field. You don’t need to familiarize yourself with complex mathematical equations or betting strategies. All good value betting requires is a working and intimate understanding of the sports you want to bet in.
A value betting situation essentially occurs when your bookie severely underestimates the chances of a sports event taking place. When your bookmaker cannot properly balance probability and reality, you can exploit that opportunity with value betting. Of course, this is easier said than done. You can’t become a professional at this on your first try. You need to be able to accurately identify these unique situations before you can profit from them.
How To Find A Value Betting Situation
Now that you know what value bets, here’s a simple guide you can follow to help you identify and place the best value bets. Remember, doing this right takes patience and practice, so take your time.
Research Multiple Bookies
As was earlier mentioned, value betting occurs when a bookie underestimates the odds of the occurrence of a particular event. Naturally, not all bookies will do this at the same time. Every bookie calculates probabilities in different ways. This accounts for the variance you observe in the odds different bookies offer for the same game. Sign up with as many bookmakers as you can effectively manage. Look for similarities and discrepancies in the odds that each one offers, and you might start to see your next value bet clearly.
Tipsters are individuals who are dedicated to beating bookmakers. This essentially makes them your best friends. Because they thrive on seeing you beat your bookie, you can always trust that their information is legit. Find a respected tipster to work with to improve your value betting.
Work With Less Popular Leagues And Tournaments
With popular markets, the stakes are naturally higher. As such, it takes a seasoned pro to properly identify and profit from any value betting chances where any exists. However, turning your attention to less popular sports tournaments and events can generate an amazing payload! As these leagues are still growing and expanding, there’s a knowledge gap you can easily exploit. All you have to do is acquire as much data as you can on the tournament or league, and you stand a real chance of winning big!
Ultimately, placing value bets isn’t a bad way to go for punters. What matters most is that you take your time to understand the process and analyze all information critically and objectively, and you’re set!