Valuebet is a bet that is made thanks to a mathematical formula presented as follows:
Odds x probability (%) / 100 > 1.00.
Basically, you need to multiply the odds of the bet by the probability, expressed as a percentage, and divide everything by 100. In case the result is over 1, it's a valuebet!
Consequently, a valuebet is simply a mathematical calculation that allows you to define the profitability of a bet by taking into account the odds and the probability you are offered.
Therefore, there is "value" if the probability you estimate is higher than the one offered by the bookmaker.
It also means betting on a result whose odds are higher than they should be and that were underestimated by the betting site. In that case, your chances to win your bet are higher.
In Formula 1, Michael Schumacher has odds of 1.85 and a probability to win of 60%.
Mathematically, we have: (1.85 x 60) / 100 = 1.11 > 1. It's a valuebet!
Method and technique
This is a method based on the tracking of odds that were underestimated by online betting sites.
Therefore, your odds can be poorly estimated by a sports betting site or a bookmaker in numerous cases, either deliberately or unintentionally if the probability is high.
It is the odds offered by the bookmaker on the victory of team A against team B, or the other way round.
As for the probability, it is your estimation, you own opinion on the percentage of victory by team A.
Bookmakers calculate odds for various events mainly by using three important tools.
- Statistics for team results, over a period of one or two years for example.
- Numerous bets by their customers on the same team. In that case, the odds decrease.
- Odds comparator: In order to avoid all the hassle of tracking and forecasting, it would be easier and more secure to resort to our odds comparator freely, which calculates the Valuebet for you, while being based on the existing gap between the odds offered by one site and by the other sites for the same event.
Even if you are an expert at statistics and sports events for example, you should rather trust sites that specialise in betting and offer free services occasionally, or sometimes daily.Where can I spot Valuebets?
In order to calculate your Valuebets in the most accurate way, use this calculator by entering:
- The odds offered by a bookmaker for a selected event
- The probability for this event
The calculator clearly tells you whether you should bet or not (you should always be careful though!).
To recap, be aware of the stake of a bet, of the odds you are offered and finally of the probability, so that you can have a guaranteed benefit, which will always remain the essential goal of a gambler.