Odds & margin
Value bet
A price higher than the real chance deserves. Value doesn’t mean the bet will win; it means the price is generous if you could make the bet many times.
Also called Value
Example You rate a team at 50%, the odds of 2.50 say 40%.
- Watch out
- Your own estimate of the chance can be wrong; that is where most ‘value’ disappears.
Related
Odds & margin
Implied probability
The chance a price suggests. For decimal odds, divide one by the odds.
Odds & margin
Vig
The bookmaker’s built-in edge. Add up the implied chances of every outcome: anything above one hundred percent is their margin. Lower is better for you.
Odds & margin
Closing line value
How your price compares with the final price just before the event starts. Taking a better price than the close is seen as the best sign of good betting.
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