Value bets are bets that are placed when the probability of a particular outcome is higher than the probability implied by the odds. In other words, a value bet is a bet that has a positive expected value. To find a value bet, you need to do your research and find an opportunity where the sportsbook has underestimated the chances of a particular outcome. For example, if you believe that a football team has a 60% chance of winning a match, but the bookmaker’s odds imply a probability of only 50%, then you have found a value bet.