Sports betting is not gambling and those who have been doing it for long enough, can confirm that it is more of a day job than a pastime. If you hope to be profitable and beat the house in the long run, you need to accept the fact that bookmakers have an edge that you need to find a way around.
When it comes to betting, the recipe for success is to identify value bets and stick exclusively to them regardless of what sport you prefer and what leagues you focus on.
What is the value bet?
The definition of a Valuebet is pretty simple, yet many players struggle to find those wagers that fall into this category. In a nutshell, the Valuebet is the wager where the chances to win exceed the odds, even if they only do it by a narrow margin.
The formula used by punters to distinguish between regular wagers and those that hold value is odds * probability to win /100. The result of the equation needs to exceed 1.00 for the wager to qualify as a value bet.
The rules say that on the long run, if you stick exclusively to these wagers you will be able to offset the proverbial house edge. This sounds too good to be true, because we all know that one way or the other the house always wins and bookmakers have far more resources than players. This is an uneven fight, but savvy punters who know how to identify value bets and use proper bankroll management to extract maximum value, are the ones who beat the odds.
How to identify the value bet?
Defining the value bet is one thing, but the real challenge consists in finding those wagers that qualify. The tricky part in the equation is the one in which players calculate the probability of a team or athletes to win. The other numbers are rock-solid, but these depend exclusively on the punter’s ability to calculate the chances and make an accurate estimation.
In order to maximize their chances to succeed, players should make use of comprehensive statistics and check out the team results over a long period of time. It also helps to track the odds and monitor their trend at several bookmakers, to identify those that are rising or falling at a fast pace.
Being intimately familiar with the games and knowing how to use odds comparators also helps with research.