By now, you understand that a value bet is a wager where the odds are in your favour. You are also aware that bookmakers occasionally make errors. As they focus on hundreds of thousands of markets, a blunder is inevitable. With value betting software, you are in a prime position to take advantage of these mistakes when they happen.
While the features offered by value betting software vary, they typically include:
- Automatic comparison of dozens of online bookmakers and millions of odds markets.
- Automation - You will be able to place bets in a matter of moments.
- A ‘betting browser’ that gathers all relevant information in a single page.
- Customizable alerts that let you know when a value bet above a certain percentage is discovered.
- Integrated value bet calculator - The software does complicated mathematics for you!
- Warnings such as when a bookmaker may void a bet or change the rules of the event.
- Allows you to keep track of your bets, ROI, Yield, Expected Value, and a lot more
At Mercurius, we use millions of data points, and our partnership with Wyscout enables us to access 450,000 football players and 250 competitions around the world. Our technology is the result of three years of painstaking R & D and has been tested by thousands of customers to date.
What Are the Main Value Betting Software Types?
To simplify matters, we’ll focus on four of the most common types.
Odds Comparison Software
As the name suggests, this software helps compare odds from practically every online bookmaker there is. It updates odds as soon as the changes occur; allowing you to get in a step ahead of your fellow punters.
With this function, you can pick the appropriate odds from a drop-down list, and replace the odds that have changed. Then, you can place your bets at better value odds.
Some tipsters are better than others! With tipping software, you can separate the best from the rest, and avoid wasting money. You could also analyse this software’s findings to decide if a tipster is of high-quality or merely on a hot streak. Software of this nature may include:
- Access to thousands of tipsters from dozens of sports.
- Multiple bets types and bookmakers.
- Multifunctional administration panel.
- Free tips.
- Affiliate system.
Certain betting experts who consistently beat the market by applying strategies and algorithms. For instance, one tipster may build an algorithm that analyses the possibility of a game having 4+ goals. If the odds available are better than the ‘true’ probability, you have a value bet.
Tipster software helps you follow and monitor ‘experts’ but be warned: Tipsters are human! If they rely on ‘gut instinct’ or ‘emotion’ as well as data, their tips will be flawed due to their biases.
Bet Execution Software
There is interactive trading software especially for users of the Betfair Exchange. It enables you to act on markets and execute bets with lightning-fast speed. It displays more information and offers faster updates than when using the site alone. Features include:
- Several updates per second.
- Single-click operation.
- Trading tools, such as offset bets and stop losses.
- Cash-out feature.
Fully Automated Built-in Strategy and Execution Software
This is the most sophisticated software option on the list and relates to Mercurius. Through the use of Artificial Intelligence, we analyse hundreds of thousands of data markets and historical datapoints of the matches, per game!
Our Tradr option uses AI to implement a fully automated quantitative approach. Rather than relying on ‘guesswork,’ you have the chance to approach betting like an investor.
We exploit ‘sharp’ odds taken from the actual performance of a team and its players. The result is a positive Expected Value on each bet which means profit in the long-term. You can try and replicate the Mercurius approach, but you need to love probability, mathematics, and also software that computes billions of data points in a short space of time!
During our analysis of matches, we focus on the most recent scientific findings relating to Expected Goals (xG), passing performance (more than simply looking at passing percentage), and the general ability and performance of a team. We identify the most relevant data, and use it to determine if a potential bet has a positive Expected Value.
How Do I Choose the Right Betting Software For Me?
The first step is to determine the ‘type’ of bettor you are and your overall goals. For instance, are you an experienced bettor looking for a sizeable second income, or a newcomer looking to generate a passive income akin to what one sees on the financial markets?
Also, consider the following:
- How much time can you dedicate to betting?
- What is your bankroll?
- Evaluate your level of skill.
- Where do you live? (In certain nations, betting is banned, so purchasing software is pointless)
- What is your budget for software?
- What features does the software have? Do they correspond with your needs?
- Is the company offering the software legitimate with a proven track record?
- Is the software scalable? Remember, the betting market is constantly evolving, so you need software capable of changing with the times.
Ultimately, you need software that makes a profit from sharp bookmakers rather than ‘soft’ ones. While the former is more challenging, it allows for long-term gains with less chance of restrictions.