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.

    • New Customers only. 18+
    Visit site
    • Great Bonus
    • High Odds
    • Live Betting
  1. 100% bonus up to ₦200.000
    18+. Min deposit ₦100. Wager deposit 10x on Sports/Virtual Sports. Odds above 3.00 for First Deposit Bonus. T&Cs apply. Visit site
    • Live Betting
    • Mobile App
    • Bet Builder
  2. EXCLUSIVE: 200% BONUS ON THE FIRST DEPOSIT UP TO ₦130,000.00
    18+. Min deposit: ₦4,000. Wagering requirement: 5x/30 days on bonus amount in accumulator bets + WinGames x 30/30 days. At least 3 events in an accumulator must have odds of 1.40 or higher. T&Cs Apply. Visit site
    • Bonus Offer
    • Great app
    • Sports markets
  3. 300% up to ₦189 280
    • Wagering: Bonus + Deposit 5 times in accumulator bets, each containing min 3 events at odds greater than 1.40.
    18+. Min deposit: 200% up to 20800 ₦, 250% for 20801 ₦ to 41600 ₦, 300% for 41601 ₦. Bonus valid 30 days. For 200% bonus: Half must be wagered 5x in acca bets (3+ selections, 1.40+ odds). Second half: 30x in 1xGames. For 250%+: Half must be wagered 10x in acca bets. T&Cs Apply. Visit site
    • Great app
    • Sports markets
    • Welcome Bonus
  4. Bet And Get ₦600,000
    18+. Offer effective for new customers who have registered from 1st February 2024. The minimum qualifying stake per day to earn a 10% free bet is ₦500. Customers are eligible to earn up to ₦44,000 in Free Bets daily, with a maximum of ₦22,000 from Sports and ₦22,000 from Virtuals. . Full T&Cs apply. Visit site
    • Bonuses
    • Safe Betting
    • Mobile Betting
  5. NaiJackpots to win up to ₦850,000,000
    • 18+. T&C Apply.
    18+ bet on 1×2 results in NaiJackpots to win up to ₦850M, with consolation prizes. Pepper Don Rest Jackpot: ₦25 minimum bet, ₦500,000 prize. Do-Ri-Me Jackpot: ₦50 minimum bet, ₦75M prize. 17 Gbosa Jackpot: ₦100 minimum bet, ₦850M prize. T&Cs apply. Visit site
    • Top Odds
    • Great app
    • Live Stream
  6. AccessBET

    95 /100
    200% first deposit bonus
    18+. Max bonus amount 10,000₦, 10 times roll over, 5 sporting events and above. 7.5 total odds selection or more to activate. Full T&Cs apply. Visit site
    • Mobile App
    • Great Odds
    • Bet Live
  7. Gorillabet365

    94 /100
    ACCUMULATOR BONUS
    18+. Extra bonus on winnings based on selections. Min odds 1.25. Final percentage calculated on settled bets. Bonus awarded as cash upon settlement. T&Cs apply. Visit site
    • Easy Sign-Up
    • Unique Bonus
    • Betting Markets
  8. Open Account Offer
    Up to $30 in Bet Credits Min deposit requirement. Bet Credits are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. Registration required. Visit site
    • Great odds
    • Help Chat
    • Good app
  9. BetBonanza

    92 /100
    Register and get up to 350% welcome offer
    18+. Max bonus ₦100,000. Min deposit ₦100. Wager bonus 10x. Min odds 1.85. Second and third deposit codes sent within a week. Activate 100% code in 7 days, 150% in 14 days. Max bonus for 2nd deposit ₦30,000, 3rd deposit ₦10,000. T&Cs apply. Visit site
    • Bet Live
    • Payout Speed
    • Support 24/7
  10. Triple bonus up to 200%
    18+. Triple bonus: 50% on 1st deposit, 100% on 2nd, and 200% on 3rd. Min deposit: ₦500. Max bonus: ₦50,000 on 1st, ₦100,000 on 2nd, ₦150,000 on 3rd. T&Cs Apply. Visit site
    • Sports markets
    • Reliable app
    • Live Chat
  11. Get a 100% bonus up to 105000 ₦
    18+. Min deposit: 850 ₦. Max sports betting bonus: 105000 ₦. wagering requirement will be 5x the bonus amount in accumulator bets, must have odds of 1.40 or higher. Full T&Cs apply. Visit site
    • Safe Betting
    • Intuitive app
    • Great offer
  12. 120% Welcome Bonus: Raise Your Bankroll by ₦120,000
    18+. Minimum deposit ₦100. Maximum bonus ₦120,000. New customers only. The maximum that can be awarded to a customer is ₦120 000. Full T&Cs apply. Visit site
    • Live Stream
    • Welcome Bonus
    • Sports Markets
  13. GET 200% BONUS ON YOUR FIRST 2 DEPOSITS
    18+Minimum Deposit Amount is-₦500. Maximum Bonus Amount is ₦10,000 per Deposit. Total maximum winning amount for the two deposits is ₦50,000. Minimum number of Selections is 5 sports events. Minimum qualifying odds per Selection is 1.3 for all selections. You have 30 days to unlock all your bonus or forfeit same. T&Cs Apply. Visit site
    • Game selection
    • Live Streaming
    • Mobile site
  14. n1bet

    87 /100
    +300% HUNTING BONUS UP TO 1,000,000 ₦ 10% Norisk Free Bet up to 500,000 ₦
    18+. No risk free bet: 10% of 1st deposit, max 500,000 ₦. Bonus on loss. Free bet expires in 3 days. Use on odds 1.01-2.00. Abuse may void winnings. Terms subject to change. Full T&Cs apply. Visit site
    • Various Sports
    • Customer Help
    • Combo offers
  15. Nairabet

    86 /100
    Up to ₦22,000 in Free Bets
    18+. Bet on Football, Basketball, or Tennis. Minimum 3 selections with each having odds of 3.00+. T&Cs Apply. Visit site
    • Live Chat
    • Live Betting
    • 24/7 Support
  16. Wazobet

    85 /100
    Get 110% on the first bonus up to 55000 ₦/220 USD
    18+. Min deposit: ₦100/1 USD. Wager 5x in Multiple bets on Sport betting, min 4 events, odds 1.35+. Max bonus ₦55,000/220 USD. T&Cs apply. Full T&Cs apply. Visit site
    • 24/7 Help
    • No Deposit
    • Top Odds
  17. Interwetten

    84 /100
    Risk free bet of ₦200 for new customers
    18+. Offer available for sports betting, live sports betting and virtual sports betting. Minimum odds: 3.00. Maximum refund: ₦200. T&Cs apply. Visit site
    • Great Bonuses
    • Betting Markets
    • Live Streaming
  18. LiveScore Bet

    82 /100
    100% DEPOSIT MATCH BONUS UP TO ₦100,000
    18+. 18+. Deposit ₦100 or more, If you deposit ₦100 – ₦499 will receive 2 Free Bets tomorrow, If you deposit ₦500+ receive 10 Free Bets tomorrow. Minimum odds of 1.01. Full T&Cs apply. Visit site
    • Easy registration
    • Bonus amount
    • Betting Markets

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.