1. What is Betting Value?

Betting value occurs when the probability you assign to an outcome is higher than the implied probability from the odds. Positive value indicates a potentially profitable bet.

2. How Does the Calculator Work?

The calculator uses the value formula:

Where:

• \( Your\:prob \) — Your estimated probability (0 to 1)
• \( Implied\:prob \) — Probability derived from bookmaker odds (0 to 1)

Explanation: Positive values indicate potential value bets, while negative values suggest the bet may not be worthwhile.

3. Importance of Value Calculation

Details: Finding value is essential for long-term sports betting success. Consistently identifying value bets is what separates profitable bettors from recreational ones.

4. Using the Calculator

Tips: Enter both probabilities as decimals between 0 and 1. Your probability should be based on thorough analysis, not just intuition.

5. Frequently Asked Questions (FAQ)

Q1: What's considered good value?
A: Generally +5% or higher is considered significant value, but this depends on your risk tolerance.

Q2: How do I convert odds to implied probability?
A: For decimal odds: Implied prob = 1/odds. For American odds: Positive odds = 100/(odds+100), Negative odds = odds/(odds-100)

Q3: Should I always bet when I find value?
A: Not necessarily. Consider bankroll management, confidence in your probability estimate, and other factors.

Q4: How accurate does my probability need to be?
A: The more accurate your estimates, the better. Track your results to assess your probability estimation skills.

Q5: Can I use this for all sports?
A: Yes, the value concept applies to all sports betting markets.