How to Make Money When the Bookies Get It Wrong and Lose
A different approach to profit from bookies’ mistakes with Python.
When it comes to sports betting, bookies set and control the odds so that, most of the time, they don’t lose — no matter the outcome or the number of people who won the bet. However, that doesn’t mean they don’t make mistakes! In fact, there’s a strategy called value betting that makes the most of bookies’ mistakes in order to maximize earnings. In this article, I’ll show how to find value bets manually with free betting tools and also automatically with some lines of code in Python.
Value Betting
We always want to increase our earnings in any activity we do, and betting is no exception. If we have to choose between getting paid double or triple of the amount of money risked or invested, I think we’d all agree to receive the latter — am I right? This is the concept behind value betting, and it’s how bettors make money in the long run.
Value bet occurs when the “real odds” of a match's outcome are better than what the bookies’ odds suggest. The idea comes from the mathematical concept of expected value. Every time we make a bet, we should always look for value. For example, these are the “Over 2.5 goals” odds collected from 7 bookies during the week for…
