Value betting, Make money from sports betting
Finding value in the odds is the best way to make money from sports betting. You bet for value to increase your chances of long term success. The successful betting is about finding spots where the odds are in your favor, so that you can get your money down when you have a positive expectation. To do this effectively, you have to understand the concept of value. A value bet is a bet where the probability of a given outcome is greater than the bookmakers odds reflect. This means you will have an edge over the bookmaker in the long run. If you want to become a profitable sports bettor, betting at value is one of the 5 golden rules of betting to keep in mind. As explained before, each odd has its own implied probability.
What is a value bet?
For example a coin toss at the following odds Heads 3.00 and Tails 1.50. When tossing a coin, there is a 50% chance that it will land on heads. Understand Probabilities: because betting odds represent the probability of a particular outcome occurring. This is what makes this a value bet, because the chances of the coin landing on heads is greater than the probability reflected in the odds on offer.
Here is formula
Value = (Probability * Decimal Odds) – 1 or Value = (50% *3)-1
Value = 1.5 – 1 = 0.5
If the value is greater than 0, then we have found a value bet
We’re pretty sure you’d bet on heads. It’s the obvious choice to win MYR 30 instead of just MYR 15. A wager on heads here offers positive value. Because the chances of it winning are greater than the implied probability of the odds. Please note that there are no guarantees you’d win exactly 50 times out of every 100. That’s the theoretical expectation though, based on the relevant probability. As we can’t predict the future, working on the basis of probability is our best option.
Unfortunately, things get a little more complicated when we apply the concept directly to sports betting. Sports events are very unpredictable, All we can do is try to make the most accurate assessments we can and trust our judgement. Learn how to carry out effective research and analysis if you want any chance of making accurate assessments on a regular basis. After doing some more extensive research, summarize to give which team chance of winning then look at one of our preferred betting sites, and see the following odds on offer.
Keep in mind, bookmakers want to make profit. This is for the bigger part accomplished by the creation and manipulation of odds. Finding value is about having an edge over the bookmakers
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