Value Betting: Explained

If you are a beginner in sports betting, you will probably come across what more experienced punters refer to as value bets. Value betting is the most significant concept related to sports betting. In simple terms, if you take advantage of value betting, you only place bets on a market when you have valued the odds lower than what the bookmakers are providing.

Understanding value betting is almost essential for long-term profits. But no betting strategy is complete without an understanding of other concepts as well, such as bankroll management, point spreads, and hedging. But we will save that for another time. Instead, we have put some effort into explaining value betting here.

But First: This Is How Odds Work

Value Betting: Explained

Bookmakers, or bookies, set their own odds for each game and they are experts with years of experience and a lot of knowledge to back them up. The odds can therefore show quite accurately what the outcome will turn out to be and therefore it is advantageous to bet on the favorites if you want to bet safely. 

However, this means that you are gambling at low odds and if you do win, your profit will be small. Many punters, therefore, tend to look for too high of the odds because the bets are wrong. But to do so, you need to be well-read, so that you do not incur significant losses.

Bear in mind that there is a difference between American (moneyline), European, British and Asian odds that are worth keeping an eye on should you find yourself betting with a foreign bookmaker – perhaps on your next trip through Europe?

Finding Value In Your Bets

Value Betting: Explained

The betting world undoubtedly welcomes beginners, and you do not need to be familiar with all that has to do with odds and betting to benefit from the entertainment that it provides. However, it is beneficial to understand how to find value in your bets in order to profit from betting in the long run and not lose money.

Experienced bettors look for value in moneyline bets by trying to calculate which team has the highest chance of winning and compare this to the odds listed by the bookmakers. Thus, skillful betters are more successful than others because they can come up with their own assessments of whether or not a team will win. 

Moneyline favorites are presented with “-” odds and the underdog is presented with “+”. Keeping track of this will help you find value in your bets.