Value betting is a term frequently used by punters when discussing long-term profit strategies in sports betting, and it can be a powerful tool in beating the bookies. However, finding value in a set of odds is not an easy task, thankfully, online services like www.rebelbetting.com have a theoretical advantage in finding the potential value bet and are happy to sell that information. With the right approach, and maybe some help from a service, you can identify value bets and increase your chances of long-term success in football betting.
What is a value bet?
A value bet, from a punter’s perspective, is a bet that offers added value. It occurs when a punter’s research and estimations lead them to believe that the chances of one team winning are better than the odds offered by the bookmaker. In sports betting, value bets exist because the exact statistical possibilities of each outcome cannot be determined. Unlike in games of chance like roulette or cards, where strict probability laws govern the outcomes, team sports involve various factors that can influence the result, such as player performance, referee decisions and weather conditions.
Finding football value bets
Regularly review your assessments: To develop an eye for betting value, it is crucial to review and refine your assessments regularly. Stay updated on team news, form, injuries and other relevant factors that can impact the outcome of a match.
Be persistent: Success in betting is closely tied to finding value bets and sticking to your betting strategy, even if the outcome may seem unlikely at first glance. Trust in your research and analysis to identify opportunities that others may overlook.
How bookmakers set odds: Bookmakers set odds by considering several criteria, similar to what punters take into account. They then aim to offer prices that resemble the actual odds of an event, but they are not infallible and it is these errors that value bettors seek to exploit.
Calculating a value bet
The most common formula for calculating a value bet is as follows:
Value = (Probability * Decimal Odds) – 1
For example, in a 2-way tennis match where both players have a 50% chance of winning if a bookmaker offers odds of 2.10 on one of them, the calculation would be:
(50% * 2.10) – 1 = 0.05
Some punters prefer calculating value bets using the percentage of chances with the formula:
Probability = 1 / Decimal Odds
Regardless of the method used, the estimated chances percentage should always be higher than the probabilities implied by the odds. The greater the difference, the more profitable the value bet is likely to be.
