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Value hunting is universal. It 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 critical But also the most misunderstood concept in football betting. Value will be the real key to making profit in the long haul.

Bear in mind, value is found whenever you will get an object for less than what it is actually worth. The following illustration will clearly explain this.

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

On the contrary, if you buy the vase with the intention to sell it but WITHOUT KNOWLEDGE simply how much you can sell the vase for, then this isn’t a wise purchase and it is not really a value buy.

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

As a result, the costs (or odds) provided by the bookmakers are related to the probability of that outcome happening. Essentially, how do we determine whether the odds are of value?

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

Let’s take the example of the flipping of a coin. As you will find 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.

As a result, if we have been betting on coin-throws, in the event the price offered is lower than 2, then it has no value because we will definitely lose. Conversely, if 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.