Very important, it’s the basis of everything. Of course, you know that a favorite with a rating of 1.20 will certainly win, but does that mean that this rating has value? Not necessarily.
Quite often you will hear a bettor say, “There is no chance that this team will lose this game”. In fact, it would be legitimate for a favorite to win, but is the probability that this team wins better than the proposed odds? Playing with this state of mind can be dangerous! It’s like you’re saying that a trendy flat-screen TV is a great opportunity, even if it’s expensive, just because you really want it. It does not work like that with bets. Alas!
Value is a concept that most bettors do not understand or take into account. Because bettors do not pay attention to this detail, it’s good for others who can have very good opportunities by studying this setting. At the best gambling sites you can follow the below.
If you’ve already said “I’m not good at maths …” then you’re probably not good at betting either. When most bettors are successful only because of the feeling of a bet, long-term success can only be explained by a defined strategy of your bets and an understanding of odds in terms of probability.2
In summary, it’s a numbers game and you need to at least be comfortable with divisions and multiplications.
Understand how bookmakers offer a rating
It depends on the popularity of an event, but in general, bookmaker odds are a reflection of bettors’ tendency more than the odds of a result. Obviously it’s not that easy but to put it simply, bookmakers offer odds according to the attractiveness of the public so that you are tempted to play for each team and to recover a commission.
That said, smart bettors can find value in betting when other players are wrong. It also means that a very good value can be found in a very popular event for occasional bettors, who know nothing or very little of the strategy of experienced betting. Events like the SuperBowl, cup finals or a popular horse race can be this kind of event.
Know how the ratings are fixed
Fall in love with the ugly duckling
As long as you go play, you will love more and more the ugly duckling, this team that everyone hates, but not you! It is often good to bet on the team that is singled out as being the worst. The more people will go after a team, the more this team has value. For example if a team has had very good results but it remains on a series of 4 or 5 defeats, the public will generally despise this team, and the value of it will simply increase.