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Value hunting is universal. It is 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 critical But additionally the most misunderstood concept in football betting. Value will be the real key to making profit within the long haul.
Bear in mind, value is found whenever you will obtain an object for less than what it’s 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 great online soccer gambling old vase on offer for $100. You know you might resell the vase for at least $120. What this means is there is VALUE in buying the vase. The key here is your knowledge that the vase is in fact worth $120.
In contrast, if you buy the vase with the intention to sell it but WITHOUT KNOWLEDGE simply how much you may sell the vase for, then this isn’t a wise purchase and it’s not a value buy.
The same principle applies to football betting. In sports, the true value of the outcome of a match is expressed by the probability of that outcome happening. If you’re able to get a price which is HIGHER than the one indicated by the probability, then you have found value.
As such, the prices (or odds) provided by the bookmakers are associated with the probability of that outcome happening. Generally, how do we assess 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 there are two sides of the coin, the probability of heads and tails are 50% each. The formula to calculate the odds in such a 50/50 situation is 100 / 50 = 2. For this reason, odds of 2 are called FAIR ODDS.
Consequently, if we are betting on coin-throws, in the event the price offered will be lower than 2, then it has no value because we shall definitely lose. On the flip side, if the price is higher than 2, say 2.10, it means the probability for the win is 5% higher (2.10/2.00). This really is value.
