When placing any type of bet, the bettor’s goal is for the bet to be successful and a return to be made. Do they use a matched betting technique or simply placing bets for entertainment, bettors play with the aim of making a profit. This is where value betting can come in handy, as value betting involves placing bets that are more likely to be successful than the bookie’s odds suggest. Here at OddsMonkey, we’ll take an in-depth look at how value betting works, how value betting comes in different forms, and how to spot these value bets.

How Value Betting Works

Value betting is a betting strategy that gives the bettor an advantage over the bookmaker by finding odds that are higher than they would otherwise be. This is done by finding out how likely an outcome is, then using this information to find unsuitable betting odds and placing a bet on those odds. For users who are still unsure about what a bookmaker is, check out our guide entitled ‘What is a bookmaker?’ on OddsMonkey.

It is important to note that value betting is not a form of matched betting, as profits are not locked in when placing a value bet. If you can consistently find and place these value bets, long-term profits can be made by finding value in these bets.

There are many different ways in which value betting works, whether it is an overvalued bet from a bookmaker that has odds higher than the general odds on the betting exchange or asymmetric information. If users are unsure what a lay bet is, be sure to check out our bets beginner’s guide to placing bets. Meanwhile, asymmetric information is when people know information that others may not know, such as player injuries or even tendencies that a player may have. This usually applies to lower leagues and less well-known sporting events.

Players can also chase excitement, which means catching odds before they change when many people place bets on those odds; this may be due to team news releases, weather changes, or player injuries, which keen bettors are aware of. Much of this information can be found in football, for which OddsMonkey has created a guide in our form football betting guide.

How to Find Betting Value

Fair odds accurately reflect how likely a bet is to win; bookmakers will not offer fair odds because this means the bookmaker will constantly lose money and will go out of business quickly. This means that the bookmakers will not give fair odds and will slightly tilt them to their advantage, meaning they will make money over a long period of time.

So, because the bookmaker has an edge, players must be aware of odds that do not match other odds or use other techniques to gain an edge against the bookmaker. Sometimes, bookmakers can make mistakes with their odds, creating betting values ​​that most punters immediately copy, so keeping a close eye is always important.

Value betting can be found at many different bookmakers and is not exclusive to just one form, both sharp and soft bookmakers make this mistake. Sharp bookmakers like 12Bet and Dafabet will adjust odds very quickly. Soft bookmakers, on the other hand, do not price their markets as efficiently as others, meaning it will be easier to find overpriced odds at these bookmakers. Soft bookmakers like Bet365 also have sign up and other bonuses that can be taken advantage of; inspect Bet 365 free betting guide to find out more.

How Do Value Bets Compare to Matched Bets?

There are many differences between value betting and matched betting, but both are useful tools for bettors to know. Value bets have greater long-term value compared to matched bets, as many bookmakers will select accounts that consistently match their bets. However, value bets will usually generate profits over time; it has variance, meaning there will be a loss at some point, whereas matched betting will lock in a profit every time if done correctly.

To find out more about matched betting, check out our extensive matched betting blogwhich features many details and tips that can help you along your betting journey.