While learning something about sports betting, it is essential to compile betting odds to probabilities and probabilities to betting odds.
There are many ways to beat a bookie. One of the well known methods is arbitrage betting, where you try to find price differences between different bookies. Some years ago this was a really good method, but today, as every single information about sports is available throw the internet, it is hard to find difference between bookies.
I will mainly focus on the so-called Value Betting. But what is Value Betting and how does it work?