A bet’s chances to win may be 10 percent; however, if the odds offered by a bookmaker reflect the 5 percent possibility, the bet may be regarded as valuable. It’s important to understand that the bet in this example would most likely lose. But if you place 10 such bets, one of them would win. As the odds were some 20.0, the player would profit.
Looking for value bets
Punters look for value bets, using websites, which compare bookmakers lines, or surebets scanners. More sophisticated players make their own algorithms which are supposed to estimate the possibilities of outcomes better than bookmakers do. Such players are referred to as quants.
What bookmakers think of value bets?
Value bet is a bookmaker’s mistake. Fundamentals bookmakers in this case will cut the biggest amount possible the punter could place. Low-margin companies or betting exchanges will impose no limitations, but a punter is highly unlikely to find value bets there.
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