If you think the most successful gamblers win every bet – think again! If you start gambling with the idea of thinking you’re going to win every time, you’re going to be disappointed.
Punters that want to win every bet tend to start by betting on selections with ridiculously short odds. Sure, you can get lucky betting at these odds, as lots of these types of selections do win. But if you’re unlucky and start by betting on a couple of short-priced losers, you’re going to have to back a lot of winners to get your money back.
Being a good gambler is all about understanding value, with the concept of value betting being only betting at odds that are greater than the probability of a selection winning.
What Is Value In Betting?
If you’re about to start betting, or already bet regularly but want to be more successful, you must understand value in betting.
For example, if you think a selection has a 50% chance of winning, its odds should be even-money (2.00). But if you can get odds of 5/4 about this selection, it is a value bet.
If you are betting on even-money shots all the time, then you’d need one in two to win to break even. But if you can find selections that you think should be even-money (2.00), but you can back them at 5/4 (2.25), you’ll make a long-term profit from gambling if one out of every two of them win.
If you have £100 bets on selections A and B at 5/4, this will cost you £200. But if one of them wins, you will get a return of £225. This is a profit of £25 at a return on investment of 12.5%.
Of course, value doesn’t only apply to selections priced up at odds of even-money. Value can be found in any selection where you think the odds are bigger than the probability of it winning. It doesn’t matter if that horse is odds-on or is a massive outsider.
If you can find value bets with the regularity of a professional gambler, you have a great chance of making a long-term profit from gambling.
How Do You Determine Value In Betting?
There is no definitive answer for finding value in betting, as the odds available about any selection are simply the opinion of a bookmaker. If you want to be a successful gambler, your opinions about probability and odds need to be better than the bookmakers you bet with.
However, being a successful gambler takes a lot of hard work. You must understand the sports you bet on inside out, whether that’s horse racing, football, golf, etc.
Professional gamblers spend hours every day looking through form books and statistics to find value bets. They also tend to be extremely patient. If there isn’t any value to be had one day, they aren’t tempted to bet for the sake of it. Instead, they wait for the right bets.
Can I Win A Bet Every Time?
If you don’t think you can find value bets regularly, you might want to consider matched betting. Matched betting is when you use free bets from bookmakers and some of your own cash to guarantee a profit from your free bets.
For example, let’s say you open an account with a bookmaker and get a £50 free bet. You can bet the £50 on a selection at even-money and you’ll have a 50% chance of winning £50 (you don’t win the stake with a free bet).
However, if you also use £25 of your own money, you can guarantee yourself a profit. What you do is place your £50 free bet at even-money, then lay the same selection on one of the betting exchanges to £25. This way, whether your selection wins or loses, you’re guaranteed to win £25, minus any exchange commissions you need to pay.
True, you’ve still only won one of your two bets, but matched betting is as close as you will come to winning a bet every time.
The problem with matched betting is there are only so many bookmakers you can sign up to and so many free bets that you can claim. You can make a quick buck from matched betting, but you’ll run out of free bets quickly. However, matched betting can be a good way of building a betting bank to start gambling with properly.
Winning From Gambling In The Long-Term
Finding a steady stream of value bets remains the best way to profit from gambling in the long-term, but you’ll need to work hard to achieve consistent results, especially if you’re an inexperienced gambler with a limited knowledge of the sports you want to bet on.
If this is the case, you may want to join thousands of other successful gamblers that follow the tips of professional gamblers. Many successful professional gamblers also double as tipsters, to make some extra money, or because they’re so successful that bookmakers no longer accept their bets.
Following the advice and tips of a professional gambler takes all the hard work out of gambling. Indeed, it takes just a few minutes to read their tips and place bets on them. Some tipsters even offer free advice, though getting all the tips from the best ones will cost you an affordable monthly subscription.
Following the advice of professional betting tipsters won’t mean you’ll win every bet but following their value tips will help you profit from gambling in the long-term. Happy punting!