Video Summary

Here is a 300-word summary:

Value is a key concept in sports betting, and it's often misunderstood. Many people think that value is just a myth, but it's actually a concept that bookmakers and betting systems are built on. So, what is value? Simply put, value is what you can't make a profit in sports betting if you don't find it. It's the only way to make a profit in the long run. When a bookmaker sets odds, they're saying that the event has a certain probability of occurring. If you know the true probability of an event is higher than what the bookmaker says, you can make a profit by taking that bet. For example, if a bookmaker sets odds of 6 to 1, but you believe the true probability of winning is 20%, you can make a profit by taking that bet.

The question is, how do you determine if you have value? The answer is by looking at your overall performance over a long period, such as a month or a year. If you're winning more often than the odds suggest, you're finding value. To find value in form reading, stop looking at odds and try to get a gut feeling about which horses will win. Convert the odds to a probability, then compare it to your own assessment of the horse's chance of winning. If the bookmaker's odds are higher than your assessment, you may have a value bet. By using this method, you can make a long-term profit in sports betting. It's not easy, but it's the only way to succeed in the long run.