By Callum 
Almost every day, a major sporting event takes place somewhere in the world. Therefore, it’s no surprise that sports betting providers are booming. There are more and more non GamStop bookmakers offering all sorts of sports and betting markets. But is there a way to get more out of your sports bets? What role does so-called value betting play in this? In this article, we’ll address these questions, explain what value betting is, and what you should pay attention to. Also read more about licensed casinos outside GamStop restrictions!
Sports betting at a glance
Non GamStop ookmakers, bookies, betting providers, and the like—the terms for sports betting providers vary, but they all focus on the same topic: sports betting! A sports bet involves making a prediction about a sporting event. If your prediction is correct, you make a profit. If you’re wrong, you lose your stake.
Sounds simple, right? Well, it’s not quite that simple. Sports betting is versatile : you can play the popular three-way bet, handicap bets, system bets, over/under bets, and, of course, live bets. Each of these bets has its own appeal.
Then, of course, there are the sports. The best betting providers offer not only major sports like football, basketball, ice hockey, tennis, or handball, but also more exotic disciplines like futsal, floorball, kabaddi, or Gaelic sports. Betting providers without limits that don’t hold a British gambling license also offer virtual sports or bets on entertainment and politics.
The role of betting odds
The betting odds obviously play a major role. They determine how much money you can win. The higher the odds, the greater your winnings. For example, if you bet €20 on a football team to win – and the odds are 2.0 – you win €40.
Betting odds represent the probability of an event occurring, as expected by non GamStop bookmakers. If the odds are very high, bookmakers consider the event unlikely; if the odds are low, the opposite is true. And finally, value betting comes into play with odds.
Value Betting explained
Although it sounds complicated, it’s actually quite simple: A value bet is one in which the probability of an event occurring is higher than the bookmaker’s odds suggest. But how can this happen? After all, bookmakers always keep an eye on the market and calculate realistic odds.
Even non GamStop bookmakers can make mistakes when estimating odds. This is precisely where value betting comes in, because it’s crucial to quickly identify these errors and use them to your advantage before the bookmaker can make corrections. The concept of value betting is thus simple, but tracking down these value bets requires a lot of work. There are various calculators available online, but they cannot account for all aspects. Your personal expertise regarding the best value bet providers also plays a role and is essential when assessing probabilities.
There is a formula that can be used for evaluation:
Value = Odds × Probability (in decimal form)
If the value is above 1 after the calculation, you’ve found a value bet. The further the value is from 1, the better. However, if the value is 1 or even below, you should look for another bet.
As you can see from the formula, your own assessment of probability plays a central role, is the deciding factor, and can also be calculated using formulas. However, even formulas cannot completely replace your own expertise. Therefore, value bets and their calculations are not really suitable for beginners, but rather aimed at experienced bettors.
Conclusion
Value bets can ensure you generate attractive profits. The basic definition of a value bet is easy to understand, but actually finding these value bets requires work and personal expertise. Beginners should not attempt this approach yet, but rather gain experience first.
Value bets arise from bookmakers’ misjudgments. Your job is to recognize these errors and act quickly, before the non GamStop bookmaker can correct their mistakes and adjust the odds. There are a few formulas for this, too, and you should master these formulas as well as a basic understanding of probabilities. Important: If you find a value bet, it is no guarantee of a sure win!