Now that you understand betting odds, it’s time to learn how to get the biggest bang out of each bet you make. It may take some time and some research on your part, but once you have value betting explained and nailed, you could be on your way to something epic.
To put it simply, value betting means that you believe for whatever the reason that a certain team/player may perform better than the odds suggest. Contrary to popular belief, value betting doesn’t mean betting on the underdog, but rather betting against the perceived predictions of the bookie. They may have made a mistake or it may simply be that you know more than they do on this occasion.
Bookmakers, though highly knowledgeable, aren’t always correct 100% of the time and often set their odds by a team’s recent scores and performance. However, they might not take into account that a less popular team might be mounting a comeback effort. Your job when value betting is to accurately predict when that particular team might surprise the bookie with a win, beating the odds and increasing your returns.
High-profile teams that are known worldwide, like Manchester United, the New York Yankees and Real Madrid, have built solid reputations and huge fan bases due to their winning streaks and superstar players. As such, they are instinctively expected to win. But if a bookie offers odds of 20/1 (21.0 in decimal) against Real Madrid losing but you’re convinced they’re in for a defeat, you place your wager accordingly – aka value betting.
For example, in American football, one team, the Carolina Panthers, was undefeated all season. The first game they lost was the title game, the Super Bowl. If you’d bet against an undefeated team like the Panthers using your own foresight and they lost the big game, you’d have won big. That’s value betting.
The best way to be successful is to develop strong and insightful knowledge about the teams or players that you’re betting for or against. It takes time and research to learn the ins and outs of your chosen teams or sports, but in doing so you may gain an edge over the bookie. The best time to start, for obvious reasons, is at the beginning of the season. See how the teams and players perform against each other, try to figure out when a particular team may peak, and also make sure you keep track of any changes in the team’s roster—players being traded, injured, retired and so on.
Value betting can work outside sports betting, too, so be sure to look for the same strengths and weaknesses in your opponents in games like poker.
Now that you’ve had value betting explained, it’s entirely up to you whether you up the risks you take with the aim of improving rewards. There are no guarantees, but it can certainly make sports betting a lot more interesting – not to mention profitable if you know what you’re doing.