Valuebets are quite popular for many years among professional bettors due to the effectiveness of this betting system. For a better understanding of how it works – let’s consider at first the process of odds formation at 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 overrated odds for certain outcomes. This might appear due to a tardy reaction to rapidly changing events of the match (penalty, corner, player change etc).
The essence of value betting is in search of such overrated (overestimated) odds.
In Search of Value Bets
You can independently search for overestimated outcomes or use one of the special value bets scanners (eg. BetWasp). The software really simplify the working process and help to earn more money.
Independent search of value bets
Anyway, if you decided to find overrated 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
Here we have four bookmakers with top outcomes (Win1 and Win2). Let’s consider B3 and calculate margin percent, 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 outcomes. In our case: (100/1.47) 68.03 + 40.16 (100/2.49) = 108.19%. Bookmaker’s margin is 8.19%.
Real possibility. C1+M, C2+M, where C1 and C2 – odds for outcomes, and M – bookmaker’s margin. Here we have: (1.47+8.19%) = 1.59 and 2.694 (2.49+8.19%).
Then we need to calculate these indices for the rest of the bookies the same way. We’d be able to identify the average value of real outcome possibility. Most bettors prefer considering the odds of the single bookie they trust the most though.
If we pay our attention only to B3, we’ll see that the most suitable bets for us are W1 with B1 and W2 with B4 – the odds are higher than the real possibility.
In the above-mentioned example we’ve indicated the principle of using valuebetting strategy. As you can see, it’s quite complicated to search for value bets on your own.
We have already told you about the value betting software that simplifies the working process with valuebets. The leader in this niche is BetWasp. The scanner analyzes betting lines of more than 40 familiar to US bettors bookies and provides the list of existing valuebets to its customers.
All you have to do is to select the best suitable outcome, place a bet with a bookie and wait till the event ends.
Moreover, BetWasp service let you adjust the scanning results according to your own settings with the help of filters: you can set filters by 43 kinds of sport, put min and max profitability rate, valuebet’s age, and other options.
The above-mentioned valuebetting scanner displays data in Live and Prematch more, that significantly increase the number of value bets. Besides Valuebets, BetWasp provides information about another popular and effective betting strategy – Surebets.
It should be noted that you do not need to buy a separate subscription to work with surebets – all these tools are available in one united tariff.
To Sum Up
Value bets can not guarantee a win of all your bets. However, as it was shown by the experience of so many professional bettors – the strategy is quite effective in the long run! It’s also very important, especially for newbies, to use valuebetting services to maximize the profit from this betting system.