Today we’ll focus on the value bet strategy that is considered to be an effective betting system and can bring a bettor a tangible income in the long run.
What are valuebets?
Value bet’s aim is in wagers on a higher probability of winning than the odds provided by bookmakers. In other words, they are bets that offer an opportunity for bettors to gain an advantage over the bookies.
Value betting is centered around finding discrepancies between the perceived likelihood of an outcome and the odds offered by bookmakers.
Valuebet example
Let’s consider a simple example of value betting:
There’s an upcoming basketball match between Phoenix Suns and Golden State Warriors. The sportsbook has set the following odds:
Phoenix Suns to win: 2.5
Golden State Warriors to win: 1.5
We can use the following formula to calculate the implied probability for each outcome:
IP = (1 / O)*100, where O is a bookmaker odds
For Phoenix Suns:
IP = (1 / 2.5) *100 = 40%
For Golden State Warriors:
IP = (1 / 1.5) *100 = 66.7%
Now, let’s say you have analyzed the teams and believe that Suns actually have a 50% chance of winning the game. This suggests that there might be a value bet opportunity. Comparing your estimated probability (50%) with the implied probability from the sportsbook (40%), we can see that there is a potential value bet on Phoenix Suns.
If you decide to place a bet on Phoenix Suns to win, you would be taking advantage of the difference between your estimated probability and the odds offered by the sportsbook. Over time, consistently identifying such value bets can lead to long-term profitability in basketball betting.
How to search for valuebets?
As you probably have guessed, the main problems here are to define the real probability of the outcome and find value bets. You can always do it by your own – in this case, you don’t need to invest any additional funds, but you must understand, that the search and calculation of value bets is a very time-consuming process. That’s why many bettors prefer to use specialized valuebet finder.
Such finders scan the betting lines of dozens bookmakers in a matter of seconds, define and calculate valuebets. Then the information about existing value bet opportunities in different sports events provides by service to its customers.
As for today, BetWasp valuebet finder is one of the most popular services in the aforesaid niche. This service scans betting lines of 42 bookmakers in 44 different sports and 200+ markets and provides you with a list of fresh and profitable valuebets.
You just need to select an outcome that suits your requirements (kind of sport, bookmaker, championship, profitability, etc.), and place the bet in a few clicks at bookie’s website. No manual work like searching value bets or calculating a real probability is required.
Moreover, BetWasp is not only a service for finding value bets but also online tool for surebetting. When you buy a subscription to this service – you get both surebets and valuebets at once for your disposal. This means you can significantly increase your potential income from betting.
Conclusion
Summarizing the aforesaid, let’s highlight the main advantages and disadvantages of valuebets:
Pros
- You can really get a tangible profit from sports betting in the long run with the help of this strategy.
- There is no need to have accounts in many bookmakers (1 or 2 will be enough).
Cons
- It’s hard to define a real probability of the outcome without using a special valuebet software.
