Value Bet: How Does it Work?

Understanding value is probably the most important aspect of betting. Our research has shown that being able to construct value bet strategies will help when exploring markets and casino sites.

This value betting guide will tell you all about the subject and help you find betting odds with the best value. Read on to have value betting explained and discover value betting tips.

What Is a Value Bet?

After completing our investigations, a value bet is when the wager you are planning to make is actually a good bet. This is because you have looked into the actual chance of the event occurring and discovered the correct odds. These will be different to the bookmakers’ odds so you will be able to know that it is a value bet.

At its most simplest, a value bet is one that is worth making because the true odds are better than those offered by the betting sites.

Value Bet Advantages Value Bet Disadvantages
✅ Better chance of winning than odds❌ Needs knowledge and discipline
✅ Low risk bets ❌ No guarantee of success
✅ More scientific approach/

How to Find Value Bets?

If you are looking for a value bet of the day you should know that it is not a simple task. You will be taking emotion out of the equation but looking for the value bets should be well worth it. You will need to be starting off with a level of expertise already to make sure that you become a value bets finder.

We have done the research and betting operators will always look to give themselves the edge when it comes to the pricing of events. This is true for any sport including a value bet soccer. But if you know a particular sport, you can become your own personal value bet calculator to see if the odds have been overestimated.

You need to look at the odds offered by the bookmaker. Then work out the actual chances for the event to happen. By using percentages you can work out whether the odds should be lower. If that is the case, you will know that you have found a value bet for today and look to capitalise on the bookmaker’s error.

To get help with your search for a value bet you should also take in a lot of information from betting tips. Getting other people’s opinion can be invaluable and give you more confidence to decide that you have discovered a value bet that you can place. Thinking about value betting strategies will help you when you make your selections.

By conducting thorough research on all bookies, our expert view is that, like any other kind of sports bet, a value bet does not guarantee success. Just because you have predicted that there is a better chance of an event occurring than the bookmaker has thought, doesn’t mean that it will actually happen. But if you are working with probabilities you can at least be confident in your own abilities to identify that value bet in the first place.

Value Bet

How to Calculate Value Bets?

Once you have worked out the probability of something happening, you can check if the odds suggest that you have found a value bet.

  • Probability = 100 / the decimal odds.
  • Convert that into a percentage.
  • Compare the probability percentage that you believe the chances truly are.
  • If your prediction is greater it means that you have a value bet.

If we take a coin toss as an example, we know that the chances of a coin landing on heads is 50%. If a bookmaker is offering odds of 2.10, we can work out the probability.

Probability = 100 / 2.10

= 47.62%

As the actual odds are 50%, our evaluation is this would be a value bet. It should be noted that sports betting doesn’t tend to work with such absolutes, so the implied probability is down to your own reading of the event.

Once you have evaluated the odds you will be able to tell if there is a chance of placing a value bet. You will soon get used to reading the odds in this way and noticing which bookmakers regularly offer value betting prices for specific sports. What you may find is that certain bookies are well known for their odds and attract specific customers wanting to bet on those sports.

Where to Place a Value Bet in Nigeria

We have thoroughly researched each bookie in Nigeria and discovered that there are quite a few where you are able to find value bets – for a variety of sports. Take a look at the list below to find a sportsbook to use for your value betting.

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Frequently Asked Questions About Value Betting?

To calculate a football value bet you will need to know the odds for the event and work out the implied probability of that event happening. If the percentage is greater, you have a soccer value bet.

The analysis we made showed that a value bet in poker is when the player can expect to have a better hand than their opponents.

No. No betting is risk-free. But value betting gives you a chance to be more informed about the wagers that you place.

If you work out the probability of an event and it is greater than the odds, you have a value bet. For example, if you calculate that Manchester United’s odds to beat Liverpool should be 2.60 instead of the 2.10 offered by the bookmaker, you should take advantage of placing a value bet.