If you have just started to delve into the world of value betting, it might seem quite daunting to bettors who are not experienced with different value bets and where to find them. With value bets placed on different bookmakers and odds changing all the time, finding the best value bets can be extremely time-consuming and tiring. This is why we at OddsMonkey are looking for plenty of different ways to simplify this process for users who want to make the most of their betting experience.
What Is A Value Bet
First of all, we will look at what value bets are and why bettors are so interested in finding them.
A value bet is a bet which does not have appropriate odds placed by them and is more likely to happen compared to the odds that have been given to the selection by the bookmakers. Value betting can come in many different forms, as some bettors might know if a player is particularly strong against another team or has tendencies that the opponent is weak too. It can also be down to inside information about a certain injury, or perhaps it could be that a player is in form or out of form. All of these different aspects can come into play, making the bet less or more valuable.
Value bets are easier to find on niche sports, as bookmakers will put most of their research into the most popular betting markets like the English Premier League and horse racing. If bettors are looking for niche sporting tips, make sure to check out our ice hockey betting guide and our Formula 1 betting guide.
Finding Value Bets
One of the most effective ways for users to find the best value bets is to manually search through betting markets, use their judgment of the known sport to find a valuable bet and use the expected value betting formula to find out the expected value.
For example, if you are a fan of golf and golf betting, then you will be able to look through specific events and selections, see which golfers have performed well at previous events at the same course and use other knowledge about the player’s tendencies and form to make your decision. Now, bettors can compare this knowledge to the odds of the bookmakers to see if it would be worth placing the bet.
In typical OddsMonkey fashion, we have an easy formula that bettors can use to find out the expected value of the bet and how likely it is to happen. For example, bettors can divide the value of 1 by the decimal odds to find out how likely the bookmaker believes the selection is.
For example, if the odds are 9/1, this would be valued as 10 in decimal odds, which equals 0.10 if 1 was divided by ten. This means the bookmaker thinks there is a 10% chance of the event happening. Now, if bettors have some inside knowledge or believe there are other factors which could boost the chance of the selection happening, then this would be classed as a value bet. This is because they are strategically thinking of the bet and how likely it is for it to happen.
Finally, there are other sites where bettors are able to find the best value bets, and through an OddsMonkey membership, users can find certain tools such as the 2UP Matcher EV, which shows users what to bet on, where to place the bets and the expected value (EV) of these bets.
Value Betting At OddsMonkey
With OddsMonkey being the hub of different matched betting techniques and strategies, the site is also brilliant for sports betting tips and value betting advice. With plenty of tools available for membership holders, there are also loads of calculators and tools available for free to anyone who visits the site, making it a great site for those looking to make the most of their betting experiences. Some of their most used tools are calculators such as the accumulator calculator and the matched betting calculator.
