In sports betting, value occurs when the odds provided by a bookmaker are not an accurate reflection of the true chances of a particular event happening. Bettors look for value by comparing their own analysis or the implied probability of an outcome with the odds provided. If the probability they estimate is higher than the bookmaker’s, they see value in placing a bet, as they believe they have a better chance of winning than the odds suggest.
Value Example
For example, if a bettor believes a team has a 60% chance of winning, but the bookmaker’s odds suggest only a 50% chance, there is value in placing a bet on that team.