How to use Value Bet to your advantage!
One of the things you need to pay attention to when betting, is that the bookmakers have a mathematical advantage over their customers, which they ensure by adjusting the odds. This advantage is known as the juice or the vigorish, which the bookmakers use in their favour by changing the betting odds for the wagers they lay.
However, there is a way for the bettor to beat the bookie and ultimately gain bigger profit. The answer to this is the Value Bet; you’ve certainly come across this term in betting sites or newspapers.
The betting companies’ predictions concerning the odds are relatively accurate, but still, they cannot control the final outcome of every match, in every sport and set the odds with 100% certainty. This is why we need to determine the Value Bet, one of the most common terms in the betting world. A value bet is a bet whose odds have a probability value higher than the real probability of it happening.
Consequently, it is the value of a bet in coherence with the odds offered on a selection. Each betting ratio represents a probability calculated according to the following formula: 100/odds = probability %.
In order for bettors to find such odds aka Value Bets, they will need a lot of time, good knowledge of every sport, experience as well as accurate information on every game (e.g. injuries, absenteeism etc.) All the above, will help you estimate the probability of an outcome as accurately as possible, in order for a value bet to occur.
To sum up, a Value Bet requires discipline, patience and rational thinking, as well as sound judgement, unaffected by past experience or high expectations for immediate profit.