The Concept Of Value When Betting

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Betting is an incredibly difficult way to consistently make money from. Those that do make a success of betting are usually the ones that understand the concept of value.

Of course, some people win initially, or even have a lucky streak. However, such wins are relatively short lived. The idea is to obtain value consistently, and in order to do this, you need to find an edge. That edge invariably means beating the bookmaker’s prices.

What Constitutes Value

Value when betting is really no different, to obtaining value in any aspect of life. If you go to the shops to buy an item and it’s ten pounds. If you can get the same item for nine pounds elsewhere, where’s the value?

Bookmakers are no different. They offer loss leaders, in order to get cash into their coffers, and they also offer different prices. Some prices offer value, some don’t. It’s the value hunters job to seek out this value.

Value bets are considered as those, where the probability of a outcome happening, are better than the odds reflected by the bookmaker. Just because you bet on a value outcome, it doesn’t mean that the bet is more likely to win though.

A small sample, of just a couple of bets means nothing. Value hunters aim to get value over the long term. Enough bets, all at value, will make an edge over a long enough sample of bets. We call this “expected value”.

If your expected value is positive, then keep doing what you’re doing. The profits will come.

How Do I Obtain Value

Value can be obtained in a number of ways, and really depends on your individual approach to betting. It’s important that you’ll stick to whatever method you’re using, for the long term. It must therefore be an interesting approach.

Find Your Edge

Matched bettors obtain value, as the bookmakers provide free bets. Enough free bets, converting each to a cash profit, constitutes value. The great thing with matched betting is that the variance is usually very low. Low variance means that there’s no excessive losing runs and therefore this offers the minimum risk profile.

Trading and scalping offer value, as you obtain value over other traders. Whether the price of your selection is increasing or decreasing in price, provided you beat the masses, you make an edge. Do this often enough, and the edge and therefore profits, move firmly in your favor.

Best Odds Guaranteed offers great value too, if you know how to use it in your favor. You can place a bet, and if the price shortens, just lay it off for profit. If the price drifts and the horse wins, you get the better best odds start price, yet lay off at the original odds. This allows a margin to me made. In fact, the only was you lose, is if the selection remains static or fails to win. You may lose a few ticks and maybe a small commission. Do it enough, and you should make your edge.

Paul Beaumont used a similar method for his Beaumont’s Bets service. He reportedly made £200,000 before he wound down his service. The method still works today, and you could exploit it too.

Getting Started

If you’re a regular reader of the blog, you’ll realize that I thoroughly recommend that new bettors take advantage of Matched Betting. The best service in my opinion is Profit Accumulator.

If scalping and trading is more of interest to you, then I highly recommend Caan Berry’s trading products. In particular his pre race trading guide. If you need more help, then check out his video packs. He’s a nice guy and goes the extra mile to help his customers.

If betting is of interest, then you’ll find some really useful dutches and value bets by using matched bet services. They have software that constantly scan the market for value bets. The small price for a subscription will put you in profit in no time. What the software does in seconds, would take hours manually, so how much do you really value your time?

Products like All By The Book are great for beginners too. You’ll need plenty of bookmaker accounts, as the idea is that you back every horse as a dutched bet. By using best odds guaranteed bookies, you should get the over round to a maximum of 3%. If the winning horse drifts in price, you’ll get paid out at the better price, hopefully offsetting the over round whilst also providing a profit. Mike Cruickshank has the same method, but calls it The Golden Parachute.

Whichever method you use, access to value selections from Profit Accumulator will save you time and make you a load of money. You just need to get started.

Findings

As you get more advanced with value betting, there are specific services designed to rinse the bookies. You’ll need deep pockets though, as these can cost a small fortune. I’m not going into this subject just yet, as most readers won’t be at this stage just yet.

I’d advise all beginners to get really under the skin of matched betting. The opportunities are almost endless and exist twenty four hours a day.

For more advanced bettors, it’s important to really understand where the edge is with your current betting methods. If you don’t understand the concept of value, then your gambling days will become limited. The bookmakers can be defeated, you just need a plan, and then follow it.

Sports arbitrage is a way to really annoy bookmakers. This is where you’re able to back all outcomes of an event, ans still guarantee a profit. It’s generally accepted, that your accounts won’t remain open for long if arbing. You’re definitely getting value though, and its better that the money is in your account than theirs.

Again, there’s a lot more to arbing, and it’ll get a dedicated post in due course. The aim of this post is to get you to understand value, and how to utilize it in your betting activities.

If you follow the guidelines, you soon understand how the bookmakers despise value seekers. I touched on it with this article. I’ve been knocked back in so many betting shops, which means I’m doing things right. It never bothers me to get banned in shops, there’s too many of them, and you’ll always get a bet on if you want.

So that sums up my concept of value betting. I hope you understand the message and trust you’ll find value in your betting. Why not leave a comment below, and let me know how your betting’s going.

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