The Concept of Value
If you flipped a coin and we told you about a bookmaker offering 3/1 on heads, would you place the bet?
Interesting question? This is a classic example of a value bet. A value bet is simply a bet where the likelihood of a given outcome is greater than what the odds on offer reflect.
In the coin flip example the likelihood of heads is only evens (or 1/1), but the bookmaker is offering 3/1.
For some simple explanations around value betting, please read the excellent articles below by bettingexpert.com:
At EachWayValue we provide members with live value bets, throughout each and every racing day. We advise who to back, where to back them, and with how much.
Start making money today. Change the way you bet.