Betting with value bets
Value bet tips, explanations, formulas and strategies to help you make money with value bets!
Value bets are bets that are worth the money. A bet is a value bet when the odds are higher than the probability of success.
Consider this simple example:
You believe that FC Bayern will win the Bundesliga match against HSV with a probability of 50 percent. Now assume that Bookie A offers 3:1 odds for a Bayern win. Assuming your predicted probability of 50 percent is correct, this would actually only require 2:1 odds for a balanced result. Thus, the 3:1 odds are too high in relation to the probability of success, which is why this is a value bet.
In order to accurately calculate the probability of success, you have to conduct a lot of research, in addition to possessing good instincts. You should study statistics (score tables, sports statistics, etc. -- everything you need is on LiveBets.com!) as well as current happenings (injured players, form, etc.).
Additionally, you may want to use the Kelly formula to calculate your betting edge (on LiveBets.com, see the section Betting Strategy Systems for details!).
