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Value hunting is universal. It’s applicable to both life and business. And it should apply to football betting as well. Many punters fail to appreciate the significance of value betting. This is the most significant But also the most misunderstood concept in best online football gambling betting. Value is the real key to making profit within the long term.
As usual, value is found when you will get an object for less than what it is actually worth. The next illustration will clearly explain this.
You are an antique enthusiast and also you are browsing around an antiques shop. You notice a nice old vase on offer for $100. You know you may resell the vase for at least $120. Therefore there is VALUE in buying the vase. The key here is your knowledge that the vase is really worth $120.
On the flip side, if you buy the vase with the intention to sell it but WITHOUT KNOWLEDGE the amount you can sell the vase for, then this isn’t a wise purchase and it’s not really a value buy.
The same principle applies to football betting. In sports, the true value of the outcome of a match is expressed through the probability of that outcome happening. In the event you can get a price which is HIGHER than the one indicated through the probability, in which case you have found value.
Consequently, the costs (or odds) offered by the bookmakers are associated with the probability of that outcome happening. Simply, how do we determine if the odds are of value?
Fair prices (or odds) are set in the event the result is expected to be a 50/50 situation.
Let’s take the example of the flipping of a coin. As you can find two sides of the coin, the chances of heads and tails are 50% each. The formula to calculate the odds in such a 50/50 situation is 100 / 50 = 2. As a result, odds of 2 are called FAIR ODDS.
As such, if we have been betting on coin-throws, in the event the price offered is lower than 2, then it has no value because we are going to definitely lose. In contrast, in the event the price is higher than 2, say 2.10, it means the probability for the win is 5% higher (2.10/2.00). This is value.
