Why Punters Need To Hunt For Value Bets

You will hear the term value bets used over and over in sports betting articles because this is one way that punters gain a real edge over the bookmakers. Every sports bet is considered by odds compilers but there are so many bets to compile and with markets constantly changing it is difficult for every bet to be compiled accurately and sometimes mistakes are made.

Take a quick look at the online sports betting odds available to bet on and you wonder when the compilers ever get to sleep! When these mistakes result in a bet priced for a larger return to the punter this is known as value and as it is in the punters favour when this happens it makes sense to bet on the outcome whilst the odds are good.

An example of a value bet would be as follows. A snooker match-up is available to bet on and each player has a 50% chance of winning. The odds would therefore be 2.00 on each player. (Forget about bookmakers pricing at 1.85 for each runner for now). If one player was 2.20 and the other 1.80 then you would be getting value by betting on the player priced at 2.20. Value betting means that as a punter if you bet on this match everyday then you would be profitable. If each player does win 50% of the time you would profit overall because you are getting 2.20 for a 2.00 bet. As you can see sports betting value is often difficult to find as the bookies work hard to avoid offering punters lots of value.

Value betting is possible in sports betting because odds compiling is based on statistics and opinions. Both the interpretation of statistics and opinion are subjective so it is almost impossible to collate the odds perfectly every time and this is why odds compilers are so sought after when they can exhibit profitable and stable results over many years.

An acute knowledge of your sport may enable you to understand some factors that have a bearing on a result better than bookmaker’s odds compilers can so you can find value in odds that are considered well priced.

Another difficulty in finding value bets is that the odds compiler for the bookmakers can look at the prices offered by other companies covering the same sports event. If they are out of line at 2.50 when everyone else is 2.20 they can change the price immediately. This is why value is often found early in the day on horse betting and sports betting before the bookmakers have a chance to review and amend the prices in accordance with the rest of the market. Using betting odds comparison sites are a great way to find out who is offering the best price, and therefore best value, for the bet which you want to place.

It is an easy trap to fall in to by justifying a bet you wish to place by saying it is a value bet. Sometimes it is just a bet you wish to place. A bet that you think is a good price may just be your opinion. It is very difficult to know what is a value bet actually is. You should consider yourself what your preferred return is on your bets and then search for bets you think will return your preferred profit amount. The value bet for you will be the choice you make regarding bets within that price range. If there are six options to bet on at 2.00 which is your preferred return, picking the best of those six is your own personal value bet, but it may not be considered value by any other punter.

Sports betting is a personal decision but you should keep an eye out for good tips on bets that are incorrectly priced as taking a bit of the value is profitable in sports betting. Value bets can be found in any sport that odds are offered on so scour the markets in your search for them. The more often you can make value bets, the more profitable your sports betting will be.

By Malcolm Clarke