Wednesday 24 February 2010

Much Better Day

I have been using the Oddsportal website to find the best odds on my football bets. However, I was looking at the Value Bets section of the website and was quite intrigued. I have read many blogs, websites and articles and they always seem to go on about value betting, value prices and how in the long run this is the only way to make betting pay. Now this is what Odds Portal have on their website regarding their Value Bets section:

Value bets listed above provide tips on matches that you can bet on with mathematical advantage. Our value bets are calculated from bookmaker's market difference in comparison to its competing companies. Betting with value included in the bets should lead to long-term profits. The "Odds" column indicates biggest betting odds available, while "Value" calculates mathematical profit you can take advantage of. The "Prob." column explains the likelihood of winning the bet.

I had a look at two highlighted advices, which were these two:

Draw No Bet Outcome Bookmaker Odds Value Prob.

24 Feb Tottenham - Bolton 2 Victor Chandler 9.00 1.34 12.92%


1X2 Outcome Bookmaker Odds Value Prob.

24 Feb USA - Switzerland 2 Bet Chronicle 15.50 1.34 7.64%


After thinking about the value betting scenario, and also that it seems like the hard work is already done by the site and the other bookmakers, I thought I will give it a go, and see what happens. If i'm honest I don't really understand the value figure, but i'm guessing if I keep backing at odds that are better than what they should be, then I should make a profit in the long tern. I will only be staking £1 on these bets. I will see after a month or so, if there is any mileage in it or not. If anyone has any views or does something similar, then I would love to hear from you.


These are the bets that I had today, and have been settled so far:


Trabolgan: £8 @ 3.50 -£8

Marodima: £4 @ 8.50 +£30

No Wonga: £6 @ 3.75 -£6

Chief Dan George: £3 @ 8.00 +£21

Five Out Of Five: £3 @ 15.00 -£3

Chief Dan George £6 @ 8.50 +£27

Le Seychellois £3 @ 16.00 -£3

Braunschweig v Burghausen Draw £4 @ 4.15 -£4

Total for the Day: +£54

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1 comment:

  1. Scott10 March 2010 at 04:43

    Hi there,

    First time I've seen your blog, please add mine to your list, I've done the same.

    Value betting only pertains to the individual - one man's trash is another man's treasure as they say. Ignore what other people consider value. If you rate something as a 2.5 shot, and it's available to back at 3, then that is value to YOU. And that's all that counts.

    Most clueless pundits suggest something is value at Bookie X because it's two points better than at Bookie Y... that's still BAD value if you rate that team/horse at double the price. If you don't know how to assess a price, then avoid the term value, you're just taking best odds.

    Cheers
    Scott
    www.sportismadeforbetting.com

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