Learn How to Beat the Bookmaker with Value Bets
Value betting is an exciting form of sports betting. With this type of betting, you are required to make on wager on the value that a bookmaker assigns to a specific result in an individual game. It takes a lot of strategy and research on your part, but the winnings could definitely be worth the effort.
Pros and Cons of Value Betting
There quite a few pros and cons when you engage in value betting. The advantages include:
Fewer Accounts and Bets to Make
Value betting is different from sure betting which requires you to make multiple bets at the same time. Sure betting might also compel you to make multiple accounts just to ensure that multiple betting is possible. With value betting, you only need one account with the bookmaker and you are all set to start making bets on your favoured team’s odds.
Strategic and Less Risk When Compared to Sure betting
Value betting requires some strategy on your side. Theoretically, this means that you can mitigate several risks and lessen your risk exposure. You can already spot what those risks are when you are formulating a strategy and approach when trying to outsmart the bookmaker.
Easy to Understand
The strategic requirements for value betting is easy to understand. By simply using a pre-determined formula, you can spot which bookmakers are offering great value and worthy of your bet.
There is only one disadvantage to value betting. This type of betting is formulated for the long term and the strategies involved are tailored more for long-term betting instead of the more immediate and short-term bets. Unlike sure betting, the profits that you can earn from your value bets are not pre-determined and you could end up losing what you wagered. However, this is mitigated by the fact that you can recoup your losses during the next value bet.
Things to Remember When Making Value Bets
There are different concepts that you should bear in mind before you try your hand in value betting. The first concept is the bookmaker’s margin. To simplify the concept, the margin is simply the amount that the bookmaker takes for himself as a profit. This is a method of protection to make sure that the bookmaker gets something out of the bet whether or not a wager is lost or won.
Here is a good example: Bookmaker A assigns equal odds of 1.9 for betting on a match between Liverpool and Manchester United. You choose to bet on Liverpool and you bet on the team losing to Manchester United for £10. If it turns out that Liverpool loses, you won £19 total. The winnings are derived by multiplying the odds with the actual bet. In this case, it is 1.9 with £10. Instead of having your bet doubled, the remaining £1 will go to the bookmaker’s margin.
The next concern is how you choose your bets. You should not let your personal opinion on the possible outcome affect your bet, because the odds are actually dictated by the bookmaker. Your job is to try and outsmart the bookmaker to increase the probabilities and your profits.
Different Types of Value Bets
There are many types of value betting that you can wager on:
Full Time Result
The bookmaker assigns odds to a specific full time result. In the example above, it was Liverpool winning against Manchester United and players who made bets on the bookmaker’s favored result wins the pot.
This is also known as Total Goals betting. You are betting against the bookmaker’s estimates of the total number of goals that a team makes.
You bet on the odds of a team achieving an exact score. This is not the kind of wager that you may not want to make because there is a high probability that the team wagered on will have a different score. You will lose money whether or not the actual team is higher or lower than the bookmaker’s predictions.
First Goal Scorer
This kind of bet is simply putting your faith on one of the team’s best scorers, wagering that the player will make the first score. If not, then you will lose your money. However, some bookmakers allow bettors to regain their money if it turns out that the player remained on the beach until the first goal was scored.
Half Time Result
You bet on what you expect to be the half time result. Bookmakers can set the odds to a specific team winning by score over an opponent team by half time or if they are at a draw by that time.
There are many types of betting in football using value bets. The best thing to do is to look at what the bookmakers are putting on the market and make your choice from there. It is also highly recommended to check out what the rules for each specific bookmaker are.
Effective Strategies in Making Value Bets
Here are two strategies that you should incorporate into your overall approach to value betting:
Check out the past performance of teams to determine your own odds. The team’s form and overall long-term performance can help you determine your own odds that you can compare against the bookmaker’s. A team that currently has a good history in the league naturally has better odds of winning and you can bet on that against the bookmaker.
Keep track of changes in lineup or recent coach decisions for the match. It is best to take on the odds for Team B if Team A’s coach made a decision prior to the game that his regulars will not be playing in that match. This will increase Team B’s odds of winning because they will not be up against team regulars and these are players with lesser skills than the usual players.
Take the Time to Understand Value Betting
It might take you a considerable amount of time to fully understand value betting. Fortunately, there are plenty of resources online that you can reference to find out more about this exciting type of wagering on your favourite sports teams. As soon as you grasp the basic concept and strategies of this form of betting, you can start to see your winnings piling up in no time.