Bettors place wagers on specific events in order to win money. The winnings are then paid out to the bettor. The odds for a particular event are fixed by the bookmaker based on the probability that the specific outcome will occur. A bettor’s goal is to find odds that are higher than the actual probability, thereby yielding a profit. However, there are a number of factors that can make finding value bets difficult: bookmaker restrictions, betting limits, and market efficiency.

One of the best ways to find value bets is to look for underdogs that have a higher chance of winning than what the odds indicate. This is often possible when a team is considered to be the weaker of two opponents, and this can result in higher odds for them. In addition, it is sometimes possible to back tie bets if the probabilities of a team winning or losing are closer to each other than what the odds state.

Another way to find value bets is to consider a team’s expected winning percentage against its opponent’s. This can be calculated using a mathematical formula and is typically much lower than the winnings of a team that is widely backed by bettors. These types of bets are called “value” bets and they can be very profitable if you have the right information about the game. It is important to remember, however, that it may take a few losses before you see any wins and you should be prepared for this.