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If you have ever visited any decent betting site, you have probably already heard of terms such as “value bet” or “value betting”. Explaining terms “value bet” and “value betting” is everything but easy. If you ask 5 punters what do they think value bet is, you will probably hear 5 different answers. One will tell you that value bet is backing Stoke to win at Old Trafford at price of 35.00; some other will say it is horse priced at 50/1 to win the race; and finally some might say that backing Manchester United to beat Stoke at Old Trafford at 1.12 represents value bet; and so on and so on. Answering the question of value bet and value betting is difficult, and there is no right answer. Everyone has its own philosophy and the right answer comes with one’s own betting experience, probably after years of looking for value. |
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One of definitions of value says that value is relative worth, merit, or importance of something. If we translate this definition to betting, value bet would be relative worth, merit or importance of a bet.
Key word in this definition is relative, and that’s why most of the punters have different perception of value.
One punter will place a bet and examine value of a bet on their deep knowledge of football teams, which include team news, moral, motivation, weather, etc, etc.
Another punter will take a deep look into statistics on the other hand and won’t pay much attention to team news.
Which punter is right? Probably both of them, but I prefer the latest one’s method.
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