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Value betting involves placing the 6% bet with the soft bookmaker, but not covering it with the opposing bet at the sharp bookmaker. This leaves us with a guaranteed net 2% profit across the whole arbitrage bet. We then place an opposing bet with a sharp bookmaker that has a profit margin of about 4%. Their odds are typically off by about 6%. In arbitrage betting we place a bet with the soft bookmaker that has made a mistake with their odds. The difference is that in value betting, we don’t back all possible outcomes of a match. It also involves exploiting opportunities that arise when a soft bookmaker makes a mistake with their odds. Value betting is quite similar to arbitrage betting in a number of ways.

We can use a back/lay calculator to work out that we need to lay Chelsea with a stake of $76.92. Let’s see how.Īt the betting exchange (say Betfair), Chelsea have lay odds of 4.60 (this means that someone out there wants to back Chelsea at 4.60, so we can match their back bet with our own lay bet).

We can make the outcomes more symmetrical by laying Chelsea at the betting exchange. This is great, but with Chelsea being such an outsider, they probably aren’t going to win.

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If they lose, we lose nothing, as we are using a free bet, not our own money. If Chelsea were to win, we would receive $350 ($100 x 4.50 minus our original $100 stake). We use our $100 bet to back Chelsea at the bookmaker. Chelsea have had a bad run recently, and our bookmaker has set them at odds of 4.50. Say Chelsea are playing Manchester United in the EPL. This is known as a Stake Not Returned (SNR) bet. A typical condition of these bonus bets is that we don’t receive our stake back if the bet wins, just the winnings. Right, so we have got a $100 bonus bet from the bookmaker.

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This means that you are acting as the bookmaker to that person.īetfair doesn’t have any skin in the game, they make money by collecting a 5% commission of the winnings for being the facilitator of the bet. If someone on Betfair wants to back a bet at certain odds, you can then lay a bet at the same odds. So how do we lay a bet if bookmakers only accept back bets? Well, we go to a betting exchange, the most famous and largest being Betfair.īetfair is a marketplace that connects people who want to place bets. This ensures that no matter what happens, at least one of our bets will pay off.Īren’t we going to lose money by backing all outcomes because of the vigorish? Well yes, normally, but remember we are using a free bet, which is enough to overcome the vigorish. If I lay Chelsea however, I am betting they WILL NOT win (lose or draw).īy both backing and laying a bet, we can cover all outcomes. So if I am backing Chelsea to win an EPL match, I am betting that they WILL win. Laying a bet is what the bookmaker is doing, it is betting on an outcome to NOT occur. Right, sorry about that! Backing a bet refers to what we normally do at a bookmaker, that is, place a bet on a particular outcome to occur. If you are new to this, don’t worry about this, just be aware that the techniques you will start off using don’t work forever and you will need to grow your bankroll and move onto more advanced strategies if you want to do profitable sports betting in the long term. Of course, you will eventually be restricted from using those methods too, which is why you should ultimately move onto a sustainable form of profitable sports betting, that doesn’t involve soft bookmakers (which are likely to ban you). At this point, you should move onto either arbitrage or value betting (depending on your risk profile). It is reasonably complex, but by using some matched betting software, you can make it very simple and quite profitable.Įventually, the bookmakers will realise what you are doing and no longer provide you with any promotions. Your profits are largely dependent on how much time you are willing to spend on it. It requires the lowest bankroll and has the highest profits. Matched betting is the best for beginners.

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