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Because of this bettors must understand the concept of a value bet in order to profit. An example of a value bet can also be demonstrated with a coin toss. Say the bookmaker offers odds of 2. This is an implied probability of This is value. For a more detailed article about value betting read what is a value bet? What is hedging a bet? Hedging a bet involves guaranteeing a profit from a bet by taking advantage of a change in circumstances causing odds movement in the bettors favour.

This can help to reduce variance. Read: How to hedge a sports bet What is arbitrage betting? Read arbitrage betting explained for deeper insight into arbing. Why is it important to bet at the best odds? Betting at inferior odds will reduce your returns. It is important to search for the best price offered on each bet since differences in odds compound over time. This lower margin ensures that bettors get the most from any value they can find. What is staking? Even if a bettor can find value regularly they will quickly learn the importance of a staking strategy.

Without proper bankroll management even successful bettors encounter the risk of ruin if stakes are not properly controlled. Can sports betting be profitable? There are certainly profitable bettors, including sports betting hedge funds , so it is possible to be a profitable bettor. However, becoming an advantage bettor is not an easily achievable.

That is perhaps part of the appeal. It is challenging to find value in the competitive betting market and doing so is certainly rewarding. Read: Why is betting so hard? What is the best sports betting strategy? What works for some bettors may not work for others. Betting hedge funds have the resources and funds to capitalize on small advantages across a wide range of games. Individual bettors may have more joy specializing in niche sports or leagues where their own knowledge can be leveraged to their advantage.

What is important for any betting strategy is to be aware of the concept of value and to follow an appropriate staking method. Meanwhile, no one expected Joe Burrow to lead the Bengals all the way to the Super Bowl in just his second season.

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It only takes a few minutes to get started: Click here [1] to sign up and claim this FanDuel promo. Input basic identifying information to create your account. While there were plenty of folks picking the Rams to emerge from the NFC at the beginning of the season, no one expected the Bengals to make it this far.