Let’s consider the process of odds formation with sportsbooks:
All bookies consider margin (safe profit) when offering the odds. It means that bookmakers knowingly set an outcome too low to earn their profit anyway. Therefore, the odds for equivalent events usually equal not to @2.0 - @2.0, but @1.92 - @1.92 (at best).
However, there might be the case that bookmaker offers overpriced odds for certain outcomes. This might appear due to tardy reaction to rapidly changing development of the match (penalty, corner, player change etc).
The essence of value betting lies in such of such overpriced odds.
In Search of Value Bets
You can independently search for unvalued outcomes or use our scanner: The functional is already available for all our clients.
Independent search of value bets
If you want to find overpriced odds by yourself, you need to calculate their real possibility (without margin being included):
B1: W1 @1.61, W2 @2.42
B2: W1 @1.53, W2 @2.34
B3: W1 @1.47, W2 @2.49
B4: W1 @1.42, W2 @2.88
We have four bookmakers with top outcomes (Win1 and Win2). Let’s consider B3 and calculate margin rate, which is included in the odds and real odds for these outcomes:
- Margin. Defined by: (100/C1 + 100/C2), where C1 and C2 – odds for the outcomes. In our case: (100/1.47) 68.03 + 40.16 (100/2.49) = 108.19%. Bookmaker margin is 8.19%.
- Real possibility. C1+M, C2+M, where C1 and C2 - odds for the outcomes, and M - bookmaker margin. Here we have: (1.47+8.19%) = 1.59 and 2.694 (2.49+8.19%).
Then we calculate these indices for the rest of the bookies the same way. We’d be able to identify the average value of the real outcome possibility. Most bettors prefer considering the odds of the single bookie they trust the most though.
If we direct our attention only towards B3, we’ll see that the most suitable wagers for us are W1 with B1 and W2 with B4 - the odds there are higher than the real possibility (unvalued bookies).
In the example we’ve indicated the principle of using valuebetting strategy. In use, it’s quite complicated to search for value bets on your own.
Our valuebets scanner helps to simplify the work with the aforementioned game system because it performs the whole time-consuming process of searching for undervalued events for you.
You only need to choose a bookmaker you expect to find undervalued outcomes, as well as exemplary bookmakers that will be used by the service to identify such outcomes.
It is also possible to adjust a filter for 27 sports, set the minimum and maximum yield, as well as age and some other options. To customize the filter, go to «My Account» => «Multifilters» and select «Valuebet» tab.
More details on the principle of our Valuebets functionality you can find in the Manual section.
To Sum Up
As the experience of many professionals has show, value bets are really an effective game system and can bring tangible income over a long term! It also draws attention to the fact that value bettors are more difficult to determine than arbers, and therefore, their betting accounts usually exist longer without being subjected to sanctions.
Among its disadvantages, we note the absence of a 100% safe profit. If a player falls under a protracted series of unsuccessful bets, it won’t be so easy to be in the black.