Value Betting Basics — Understanding True Odds

Value betting is about spotting when a bookmaker’s odds underestimate the true probability of an outcome. This guide covers the essentials for identifying positive expected value opportunities.

Key takeaways

• Expected value: compare implied probability with your own estimates.
• True odds: value exists when your probability is higher than the bookmaker’s implied odds.
• Discipline: requires patience and long-term perspective.
• No guarantees: even +EV bets lose sometimes — focus on long-term edge.