• July 15, 2020

Understanding the Value of Betting Odds



If you don't bet on the value of a team's odd, the chances of profits over a period of time reduces. Placing a stake on the real value of odds is the appropriate way to make a profit from betting. Punters usually bet on the outcome of matches the majority of the time which doesn't guarantee profits.

Betting on the favourites in a match might work most times but it doesn't give value to your stake. Most odds don't tell the whole story which is why sometimes it is good to place different bets depending on what reward it can give. Finding the right match with good odds takes practice but it becomes easy once you understand it.

The truth of the matter is that to find value in odds, you will find yourself betting against favourites. This is not to say that odds given to favourites don't have value but it doesn't happen often. Getting a sense of odds that will give meaning to you placing a bet in the first place is what we're about. It has to do with having a sense of the likelihood of a team winning a fixture before seeing the odds. If it will add value to the stake you want to use then the odds are good. We will look at the things to check on to understand how to get better value from odds you bet on.

Consider the factors involved

Various factors come into play during a match event and these are what every punter must consider. They are important to know and put into practice if one is to make a profit in the long run. Information is now easy to get from the internet with a simple search. Statistics of any match event can be gotten including the history of the match event. When enough factors are considered when one predicts the likelihood of a loss reduces.

Check the probability of a team winning an event before looking at the odds

Basically what this means is that it is important to have a sense of what the probability is on a team winning an event. This will help you gauge if the betting odds will have value when you add a stake to it. Betting odds that add little to a negative value on your stake when you check the odds with the probability of that team winning should be ignored, although sometimes it can happen in matches with heavy favourites. So be sure to look out for such matches and odd types.

Only Bet sports you're familiar with

It is better to bet on a sport you know well and have followed closely for some time. It will be foolish to start betting on other sports just because they have higher odds. The goal of this article is to let you know how and when to place bets on bigger odds based on what you know and what the odds are for an event. It doesn't mean that one should start placing bets on only bigger odds but on very specific events in a sport. This means that teams are sometimes offered big odds despite a good chance of winning a match event. These are the type of events one should look out for and that can only be possible if you have a vast knowledge of the sport. Knowledge is gained after some time, looking at the various factors that come into play.

Don't ignore heavy favourites

Value to your stake is why we are placing bets but sometimes the odds just are not worth it. We tend to side with the underdog to get profits from our bets. It is not always advisable with heavy favourites as most times that will result in you losing. It is not always you see heavy favourites losing and you should not ignore those odds as sometimes it has value.

Check for the best odds

This is easy to understand and simply means to check various bookmakers for the best odds for your bets. This will improve the profits you make on all your bets. This is because different bookies provide different odds for any match. So to take advantage of such things, check for the best betting odds provided for that event and use it. You can read about how to avoid losing your bets here and other articles on the confirmbets.com blog.