What is an odds comparison tool?
Odds Comparison tools compare the bookmakers prices offered on every event so that you can pick the bookmaker with the best odds to place your bet. Prices can vary greatly between bookmakers, especially on bigger price or more obscure selections. The prices are usually compared on a matrix which has all of the possible outcomes of the event you are researching down the left hand side and all of the bookmakers' prices in columns along the top.
Odds comparison sites such as ValueChecker for example, compare odds from a number well respected bookmakers and betting exchanges. It is a good idea to have accounts with as many of these bookmakers as possible so that you are always able to gain the best prices once you find them and you are not restricted to just a few bookmakers.
Why use odds comparisons?
The odds available on any selection will often vary by 50%! It is hard enough to make a profit from betting as it is, by not backing at best price every time you are seriously handicapping your chances of making betting pay. By just gaining 20% better odds you could double your winnings!
FACT 1: Odds vary a lot between Bookies
You hear this talk about 20% better odds, but is that really realistic?
The answer is that it is very common for odds to vary by way more than 20% between the worst odds and the best for any outcome. You may think your bookie is usually close to the best odds but there are always many examples where every bookie (including Betfair) is far from being the best odds.
FACT 2: A small increase in odds will give you a big increase in profits
This tool shows you the difference which 20% better odds can make to your profit/loss over a year. EG if you bet £30 per day and typically win £1 per day then just a 5% increase in your average odds would more than double your profits from £365 per year to £730 per year!
If you don't currently shop around for the best odds try this quick test to see how much money you are throwing away - more than you think we expect.
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|The Effect of Odds on Profit|
Comparing the odds of your selections would be very time consuming if you were going to each bookmaker's website to check the prices of everything you fancy and then comparing them yourself to see which offers the most value. The fact that everything is compared on one page on one matrix and the best prices are highlighted makes the whole process much easier and quicker, giving you more time to spend studying the form!
How to use odds comparisons
First of all you are going to need to know what you want to back. Visit an odds comparison site such as www.valuechecker.co.uk and select the sport you want to bet on from the tabs at the top of the page. Click on the event and you will be brought to the odds comparison page.
There is also the ability to change the odds to whichever format you are comfortable dealing with. Punters can choose between decimal, fractional and American odds and this can easily be changed using the drop down in the top right hand corner of the page.
Once you have found the best odds, click on the odds displayed to be taken straight to the bookmaker to place your bet.
Using Exchange Prices When Comparing Odds
Odds comparison sites such as ValueChecker not only compare the prices from all of the top bookmakers, but also the most reputable betting exchanges. Some betting exchanges charge 5% commission but the odds displayed on their sites don't take this commission into account which can sometimes be confusing if you are trying to decide if a traditional bookmaker is best for your bet or if you should place it through a betting exchange.
On ValueChecker that commission is taken into account on the odds matrix. It is automatically set to reduce the available odds by the exchanges base commission charges so that you can compare the correct exchange prices with the traditional bookmaker prices. If you pay less than 5% commission then there is also the ability to change the commission rate on the site.
Other features of Odds Comparison Sites
Odds comparisons will usually have some extra time saving tools to help the punters.
The Accumulator Tool
One of the tools available on ValueChecker is the Accumulator Tool. Most people who bet on the 1x2 markets on football each week combine their fancied selections to form an accumulator.
So that they don't have to add up difficult decimals to work out the best total odds for the bet the accumulator tool does it for the punter. All you have to do is select all of the match outcomes that you wish to bet on and then click on find best bookie down the right hand side.
This will take you to a comparison matrix that gives you the cumulative odds of your bet with all of the bookmakers that are offering odds on those matches.
You can also combine football bets with other sports in your accumulator and the tool will work out the best bookie to place your bet with.
Try The Accumulator Tool
Odds comparison sites also give you masses of information about all of the day's betting markets. On www.valuechecker.com there is the ability to browse the steamers, drifters and sleepers of the day.
Steamers are selections that have been very well backed throughout the day, this may be because they were simply overpriced early on or it can also mean an outcome is very strongly fancied. Following other people's money can often be profitable if you are careful what you are betting on. An example of this would be unraced horses. When one is strongly fancied by those in the know there will often be significant money for it so checking the steamers page gives you a good indication of what is fancied to win that day.
Check out today's Steamers
Likewise you can also see the biggest drifters of the day. Drifters are bets that people generally don't want to back so the bookmakers are offering bigger odds to entice people in. Selections that drift rarely win.
Check out today's Drifters
Sleepers are selections that are much bigger at one bookmaker than the rest. This may be because they simply don't fancy it but is most commonly because the traders have been slow to react to changes in the market. This is a particularly good tool for trading.
Check out today's Sleepers