What is betting value?
Imagine a coin toss where you and a friend are betting on the outcome of it. Odds of 2.0 on either outcome are exactly what they should be.
Odds of say 1.9 are too short because after all, there’s no reason why you should be paid at less than 2.0 when it’s exactly a 50/50 chance. Also known as getting poor value.
But if your friend for some reason offered you odds of 2.1, that would be an example of betting value: getting paid out at higher odds than the mathematical probability of that event happening.
Bookmakers occasionally offer betting value on all manner of markets, including cricket betting ones and football. You just need to know how to recognise it.
How to find betting value
This isn’t easy to do but the best way to find betting value is to work out yourself what the odds should be on a particular outcome.
And you need to do this before you actually see what the genuine odds are.
Let’s say that after studying all the possible factors such as recent form, head-to-head records, team news and the conditions, you decide that India should be 1.7 to beat Australia in Bangalore.
This isn’t an exact science but as long as you trust your methods and are confident you’ve worked out the odds accurately yourself, then that’s good enough.
If when you look, India are 1.85, then that can be considered betting value: the odds are higher than they should be.
Did you know?
You’re far more likely to find betting value on side markets than you are on the more popular markets.
In the above example, we said India might be available at 1.85 rather than the 1.7 you’d expect them to be, but in reality that’s quite unlikely to happen.
The reason is that the more popular the market, the more time and attention betting sites will pay to it so they are less likely to make mistakes in terms of offering prices that are too generous.
But you may find betting value on say an Indian top batsman market.
Maybe you worked out Rishabh Pant should be 6.0 and is available somewhere at 9.0, a good example of betting value.
Or that Ravi Jadeja should be a 12.0 chance to be man-of-the-match, yet is available at 16.0.