What is this? Read about Valuebetting
Updated: about 6 hours ago.
Valuebets are bets placed at odds that are higher than the actual probability of the market. The idea of valuebetes is simple and comes from the mathematical concept of Expected Value. Every time we make a bet we are always looking for value to be successful in the long term. The odds at which we bet, with all bookmakers, align approximately with the real probabilities of that market. Of course, they then adjust the odds to give themselves a small margin.
For example, if the bookmaker had a 50% chance of winning, the odds would be $2.00, they would then adjust to add a margin for themselves. We would be left with odds like $1.90, so the bookmakers can earn more money than you.
* probability of winning = the average implied probability.
* overvalued = overvalued compared to the average odds.
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