What is Value Betting?

Gambler Saloon
November 3, 2018

We all look for value in our bets, otherwise there is very little point in taking the punt. Betting is a competition against the bookmaker, the punter having to outsmart the oddsmaker to earn the maximum amount of profit. This is value betting!

Finding a value bet is always a worthwhile task as it can boost our profits significantly. Of course, actually finding value is much harder than it sounds.

Over the years we’ve developed a real eye for finding value across sports betting and below you’ll find everything you need to know about what makes a value bet, as well as where to find them…

What Is Value Betting?

Value betting is a relatively simple concept to understand and is ultimately just a set of odds that has a lower probability than you believe it should do.

It’s all about uncovering where the market isn’t quite in line. Of course, you’ll have a better chance of winning by betting on the favorite, but that won’t offer you value, with the odds so highly stacked.

Value betting definition

Value betting is the art of analysing a market and understanding where the probability is higher than what the odds are suggesting.

How To Pick Out Value Bets

Now that you know what is value betting you would like to know how to find value bets. To understand how to pick out good value bets you firstly need to have a high-quality knowledge of the sport or markets you’re betting on.

Study the Form & Market

Knowing how a team, player or runner or rider is performing currently is one of the most important aspects when trying to find value as it allow you to understand who is doing well at the moment.

On top of that, exploring head-to-head stats recent history at venues, player suspensions and injuries as well as form at the particular time of year will also help you make an informed decision on which way an outcome may go.

Calculate the Probabilities

You can then calculate the probability of an outcome and compare that to how you believe an event will play out.

Calculating probabilities is pretty simple with fractional odds, so if you’re working with decimals or USA style odds, you’re better off switching for finding value.

Fractional odds are usually displayed with odds such as 10/1, 4/ 5, 6/4 etc.

Let’s take 10/1 as an example. The total of the two numbers combined is equal to 11. The left hand number, 10, represents the number of times that bet will lose out of 11 played. The number on the right represents the number of times a side will win out of 11.

To find the probability of that bet winning you use the following formula…

1 / 10 * 100

You simply divide the number of times a team will win according to the bookmaker by the total number of both sides of the fraction combined.

Now, finding the value comes from your own opinion. If you believe that bet will win more times than once every 11 times, then you have found a bet that offers value.

Which Bookmakers Offer Value Betting?

Naturally no bookmaker will deliberate offer value betting, not unless they’re price boosts or enhanced odds anyway.

However, there are dozens of fantastic bookmakers out there where you can find value bets if you study the odds hard enough.

That’s because sport isn’t quantifiable like roulette for example. The chance of the ball landing on red or black is around 50/50 every time, so you’re never going to see odds that don’t reflect that.

Sports betting is different. Anything can happen in a sporting event, which will allow you to find an edge and secure good value.

Every day you’ll find good value on the likes of 888sport, DraftKings and William Hill, you just need the knowhow to spot it!

Enhanced Odds Offers

You will however find bookmakers regularly do offer you value odds as part of their betting bonuses and promotions.

Particularly around major events, you’ll find bookmakers boost their odds for new customers. This could see a -150 shot rise to +700, although the additional winnings you receive will often come in the form of free bets.

Most of our favorite bookmakers offer fantastic enhanced odds offers and price boosts, which really aren’t worth missing out on.

Author Gambler Saloon