Value hunting is universal. It really is applicable to both life and business. And it should apply to football betting also. Many punters fail to appreciate the significance of value betting. This is the most important But also the most misunderstood concept in football betting. Value will be the real key to making profit in the long term.

Of course, value is found whenever you will acquire an object for less than what it really is actually worth. The next illustration will clearly explain this.

You are an antique enthusiast and also you are browsing around an antiques shop. You notice a good old vase on offer for $100. You know you can resell the vase for at least $120. It indicates there is VALUE in buying the vase. The key here is your understanding that the vase is in fact worth $120.

On the flip side, if you buy the vase with the intention to sell it but WITHOUT KNOWLEDGE how much you might sell the vase for, then this isn’t a wise purchase and it is not much of a value buy.

The same principle applies to football betting. In sports gambling, the true value of the outcome of a match is expressed by the probability of that outcome happening. In the event you can get a price which is HIGHER than the one indicated through the probability, then you have found value.

Consequently, the prices (or odds) provided by the bookmakers are linked to the probability of that outcome happening. Quite simply, how do we determine whether the odds are of value?

Fair prices (or odds) are set in the event the result is expected to be a 50/50 situation.

Let’s take the example of the flipping of a coin. As there are actually two sides of the coin, the chances of heads and tails are 50% each. The formula to calculate the odds in such a 50/50 situation is 100 / 50 = 2. As such, odds of 2 are called FAIR ODDS.

Therefore, if we are betting on coin-throws, in the event the price offered will be lower than 2, then it has no value because we are going to definitely lose. Alternatively, should the price is higher than 2, say 2.10, it means the probability for the win is 5% higher (2.10/2.00). This is value.