Finding bets to place can be an intimidating prospect for those who aren't accustomed to doing so. Scorum Bet is highly impressive, but if it is to be successful in the long-term then we need as many people making use of it as possible. That doesn't mean you need to become a degenerate gambling addict, but betting a couple of SCR here and there can go a long way to improving the overall usage of the platform. Even if you're not able to buy SCR to bet with, there are plenty of initiatives available at the moment that will provide you with a free bet. Make the most of it! The fact that Scorum Bet is a 0% commission exchange means we're privileged to be first-comers to a platform that is highly likely to become a hive of activity for bettors around the world.
Okay, let's back up a little bit. I understand that there will be users here at Scorum that have never placed a bet in their life. I also know that many of you may not watch football (soccer), the initial sports markets offered on Scorum Bet, so you may feel that you don't know which team to bet on. That's fine.
In this post, I'm going to show you a quick way to find bets that are worth placing. You don't need to know about football, watch it, or even care about it. You don't even need to know all the technical stuff. Cool, huh?
Before we get to it though, we should understand that there are several ways people like to bet. Some people are so invested in a sport that they make what they consider to be informed decisions about which team will win each game. For example, these people might know that both teams have poor defensive records so will bet on there being lots of goals in the match.
Other bettors create models based on statistics that tell them what the 'true odds' of an outcome should be. If the bookmaker or exchange odds are greater than this value, they take the bet. This is known as value betting. Still seems a little too complex for someone who doesn't follow the sport though, yes?
An Easier Method
Well, here's one more way to find value bets without knowing a single thing about the sport. Firstly, you should know that there are certain bookmakers and exchanges that are considered to have the best odds around. That is to say that you're getting the biggest bang for your buck when you bet with them. Should you take a bet there, you'll be paid out a greater amount of cash than other places because the odds are more favourable for the bettors. Examples of this are Pinnacle and Betfair.
Today, we'll be taking a look at Betfair, which is an exchange like Scorum Bet, but charges 5% commission and bets are placed and paid out in fiat (Dollars, Pounds etc). Betfair is a very popular exchange for serious bettors because it's peer-to-peer. That means you're betting against other users, just like Scorum Bet, and other than the 5% commission charged on any winnings, you don't have to worry about poor odds that provide the standard bookmakers with a profit. There's more to this, but it's not important right now.
With all of this in mind, Betfair tends to have some of the best odds around. That means that we can compare the odds at Betfair to those at Scorum Bet to see if there are any value bets to be placed. Before creating this post, I had a quick look and placed the following bets at Scorum Bet because they offer greater value than Betfair.
Still confused? Let's take a look at how you can copy this strategy to place worthwhile bets on Scorum Bet. Remember, you don't need to know a single thing about football for this to be worthwhile. This is the kind of thing I do when I am in a rush and don't have the time to analyse each game. I'll also do this if I am looking to bet on a league that I am less familiar with. All you need to do is open up a separate tab or window in your browser and navigate to the Betfair Exchange and then compare the odds to those found at Scorum Bet.
The first bet I placed was on the Arsenal vs Chelsea game taking place on 19th January. In the top red circle, you can see the odds to back the draw in this game at Scorum Bet at 3.668. In the lower red circle, you can see that you can back the same outcome at Betfair for odds of 3.6. Therefore, the odds at Scorum Bet are greater and this gives the bet value.
In the Watford vs Burnley game, the odds offered at Scorum Bet to back the draw were 4.237 whereas the Betfair odds were just 4.1. Again, Scorum Bet provided better odds on this outcome meaning that this is a value bet.
You'll see the pattern emerging here. In the Southampton vs Everton game, you could have backed the draw at odds of 3.503 whereas you would only be able to get odds of 3.45 at Betfair. Another value bet at Scorum Bet.
Scorum Bet had odds for Newcastle vs Cardiff to end in a draw at 3.398 whereas at Betfair they were just 3.35. Another value bet at Scorum Bet.
If you wanted to back the draw in the Bournemouth vs West Ham game at Scorum Bet, you could do so at odds of 3.75 whereas you'd only be able to get odds of 3.7 at Betfair.
Finally, in the Wolves vs Leicester game, you could back the draw at 3.246 with Scorum Bet, whereas Betfair would only allow you to back it at odds of 3.2. Yet again, another value bet.
The examples above were all on the draw markets but that isn't always the case. You will also be able to find value bets on the home team to win, the away team to win, over and under goal markets, and any other markets that match up across the exchanges. Simply pull up the same fixture on both platforms and have a quick look over the odds to see where the value bets are. If the Scorum Bet odds are higher than those found at Betfair, it may be worth staking some SCR on it. You should also note that Betfair will often have better odds than Scorum Bet at the moment and these are the bets that I then avoid. We are looking to get the best odds available. Same risk, bigger reward.
I would note here that a value bet doesn't guarantee a win, but it does give you an edge over other bookmakers and punters alike. Over time, taking these bets will pay off. You may see losing streaks along the way, but when you win, you will be paid out more handsomely by taking these value bets than you would elsewhere.
So, what are you waiting for? Jump into an initiative to try out a free bet or perhaps buy a few SCR to have a play around with. For ways to find free bets, please follow the below links: