How to identify the value of a bet

You may have often heard the term “value betting”. In all likelihood you have a long list of questions on the subject, especially if you are a novice or a standard player. Actually, the vast majority of tipsters is looking for exactly this attribute before making a suggestion. It is the characteristic that leads to a better success rate and a stronger name. The strongest the name the easier it is to get included in a team consisting of the best in the business of providing tips.

The definition

To put it simply. The value of a bet lies in the increased chance of an outcome in comparison with what is depicted by the odds provided by a bookmaker. If the offer says that the possibility of, let’s say a victory of one team over another, is 50%, and the true percentage is 70%, then betting under these conditions increases the chance of a winning bet and, therefore, it has value.

Each bookmaker employs research teams. Their job is to examine the circumstances surrounding a certain event and find out what the chances for each possible outcome, are. The determination of the odds that will be offered is based on the result of this process. The greater the chance, the lower the price. If you see a 1.1, it says that that there is a great difference between the two sides of the equation that is applied to each event. 

The implementation

Here comes the importance of a tipster. A gambling establishment has thousands of events to study. It is quite possible to miss a piece of important information. The advice professionals have only a small set of matches to do their research on. If the mathematics provide a difference, then it is a matter of which chance is greater. In the aforementioned example, any price based on a 50% chance will be greater than a set of odds offered at 70%. Consequently, any punter that places a bet will stand a greater chance of receiving larger profits.

The critical issue is what constitutes the “important information” that is mentioned above. To quote the questions involved here would take about 20 pages and 20.000 words (if not more). To define the term let’s just say that any condition that may affect the outcome of an event is to be considered. Especially what is usually called as the “inside scoop”. It is quite possible that a professional may provide advice after a discussion with a staffer whom they are friends with. That talk never occurred between said person and any bookmaker.

The bottom line

It would be a piece of cake if there were only a few bookies providing odds to locate all the bets that have value. We all know that there are a lot more than just a few. Which means that it is a quite painstaking process to circle around each and every one to choose which to place a bet on. This is made a lot easier of all the offers are presented in a single screen, one next to the other. This is what the best betting software does and where you need to go to make your lives easier.