What is a value bet?
A value bet is a wager where your estimated chance of winning is higher than the chance implied by the bookmaker's odds - so the price is better than it should be.
- Example: you price a team at 60% to win; odds of 2.00 imply only 50% - that gap is value.
- Value is about price vs probability, not "the team will definitely win".
- One value bet can lose; the edge shows up across many bets.