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Topic: Value Betting (Read 833 times)

hero member
Activity: 826
Merit: 1000
September 18, 2014, 06:41:14 PM
#5
Team X current tie average this season is 1/3 and bookmaker A offers 5.1. Would you take this bet based on the fact it provides value? 1/4 > 1/3 = profit of 1.1 unit over the course of 4 bets
If you are saying that you will win a bet 1/3 of the time, then you would make all bets at 3.0 (+200) or better.

Yes exactly. However, value bets are calculated based on historical performance of one or multiple teams. We are not working with fixed odds (such as dice or RNG roulette).
hero member
Activity: 826
Merit: 1000
September 18, 2014, 06:36:09 PM
#4
Team X current tie average this season is 1/3 and bookmaker A offers 5.1. Would you take this bet based on the fact it provides value? 1/4 > 1/3 = profit of 1.1 unit over the course of 4 bets

I would need more information.

What is the bet being offered, and what does "5.1" mean?

The bet is team x and y to tie.

Odds of 5.1 means a bet will return 5.1 multiplied by the original stake for a total profit of 4.1.

1 unit x 5.1 = 5.1 - 1 = 4.1

In this case the value is +1.1 since team x has an average tie for this season of 1 in 3 games.

Think of the "value" in value betting as a hypothesis based on historical data.
legendary
Activity: 3752
Merit: 1059
September 16, 2014, 10:23:06 PM
#3
Team X current tie average this season is 1/3 and bookmaker A offers 5.1. Would you take this bet based on the fact it provides value? 1/4 > 1/3 = profit of 1.1 unit over the course of 4 bets
If you are saying that you will win a bet 1/3 of the time, then you would make all bets at 3.0 (+200) or better.
legendary
Activity: 2940
Merit: 1330
September 16, 2014, 09:46:13 PM
#2
Team X current tie average this season is 1/3 and bookmaker A offers 5.1. Would you take this bet based on the fact it provides value? 1/4 > 1/3 = profit of 1.1 unit over the course of 4 bets

I would need more information.

What is the bet being offered, and what does "5.1" mean?
hero member
Activity: 826
Merit: 1000
September 16, 2014, 09:03:12 PM
#1
Team X current tie average this season is 1/3 and bookmaker A offers 5.1. Would you take this bet based on the fact it provides value? 1/4 > 1/3 = profit of 1.1 unit over the course of 4 bets
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