Value Bet For Reading vs Millwall

Value Bet For Reading vs Millwall

Reading take on Millwall at 3pm on Saturday 3rd February. Are there any value bets on the game?

There sure are!

First let me break down this fixture for you real quick..

Reading are 18th in the league and Millwall are 14th.

Where’s the value bet at?

It’s on Reading to win.

As I write this you can get odds of 2.70 for them to win with Betway.

That equates to an implied probability of 37%.. basically they think Reading have a 37% chance of winning the match.

Me on the other hand..

Well, I’ve calculated the most accurate odds for this game as being 2.66 which gives an implied probability of 37.60%.

What does that mean?!

In short it means that you can bet on Reading to win at a bigger price than their chances of winning the game.

Great.. how do you take advantage of this Value Bet?!

Let’s say you have a £1,000 bankroll.

Using Kelly Criterion (an optimal staking plan) you’d place a bet of £8.90.

Of course, if you’re more risk averse then you could do 10% kelly, 20% kelly 30% kelly stakes.

Is it guaranteed to win?

Of course not.

All it means is that if the game was played, let’s say 1000 times you could expect Hibernian to win 37.60% of the time.

Team lineups might change at the last minute which would affect the probabilities, and then of course there are random elements which can take place during a game such as refereeing decisions, rash tackles.. you get the drift.

However, by betting on value over time you are stacking the odds in your favour and stand a very high chance of betting profitably.

If you’d like me to explain value bets in more detail feel free to drop me an email or check out this blog post about value bets.