Value betting is a strategy used in sports betting where a bettor identifies odds that are higher than the actual probability of an event occurring. This means that the bettor believes the bookmaker has underestimated the chances of a particular outcome, allowing for a potential profit if the bet wins. By focusing on these discrepancies, bettors aim to make informed decisions that can lead to long-term success. To effectively engage in value betting, one must analyze various factors, including team performance, player statistics, and market trends. Tools like odds comparison websites can help bettors find the best prices available. Ultimately, the goal is to consistently place bets where the perceived value exceeds the risk involved.