The following article is written by the guys from www.LetsCompareBets.com and looks at a couple of important points in sports spread betting -

1. Is it worth trying to compile your own odds?, and
2. Finding the best way to back your own odds

Compiling your own odds

This is what sports betting / investing professional do. If you like sport we'd wager you've watched a sporting event and thought to yourself that a player or team had a good chance of winning. In simple terms this is compiling odds which is not miles apart from the real thing. The difference is that you need to have a methodical approach, which you can repeat in order to come to an opinion about the event.

Think about it, there are simply not enough good odds compilers to go round all the bookmakers? So if you're professional and knowledgeable in your approach you can spot mistakes and reap rewards. The secret though is perhaps patience or to put it another way - pick your spots and only then bet.

For example, you may follow Horse Racing with some enthusiasm but it's not everyday that you spot something that looks like great value. More likely once or twice a week, maximum. The shrewd punter therefore knows that by not betting everyday and keeping his powder (money) dry he stands the best chance of winning over the long run.

Some Tips To Help Compile Your Own Odds

Thorough preparation. Use specialised knowledge if you have it and research you chosen sport. An excellent example of this was that for a long time bookies odds did not reflect that Roger Federrer, although impossible to beat on grass courts, is not top of his game on clay courts. The bookies all thought he was a superman whenever he picket up his racket. This produced a gap between the bookies odds and the true odds. Gaps like this are what the winning punters find and then ruthlessly exploit.

Take a stab at your own odds. Allow no interruptions when your watching you chosen sport, turn the TV or radio off. Look at your odds and compare them to the bookmakers – you're looking for ways to disagree with the experts. Don't worry about the consensus because it's often wrong.

Also note that less experienced bookies tend to huddle around other the odds compiled by others. Look at the differences because if you have odds of 1/2 and the bookie has 1/3, you have found value – which is where you can profit.

It's always good when practising to first stick to the favourites. Use you opinion of the favourite as a benchmark for the whole event. Once you have made your prices look at the bookmakers odds. See how they compare.

Other points to consider include -

• Who has achieved more and why? Is it due to certain players or trainers? What factor do they play now?
• Look at their recent head to head results.
• Have they being playing well recently? If so why?
• Are injuries a factor?
• What is the emotional factor involved in the event? Will this cause the team / players to produce an unexpected result? Football teams facing relegation often fight the last fight and surprise everyone by doing very well.
• Think, what price would you be prepared to invest money on this outcome. Never let your emotions or national pride (this one is very important) cloud your judgment.

Stockmarket/Trading Providers
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How to reap the rewards?

• For spread betting, fixed odds betting, and betting exchanges visit www.LetsCompareBets.com
• The website also carries more information on value bets and how to find this all important commodity
• Using the site you'll also be able to further explore the concept of value and learn some of the bookmakers guarded strategies and tricks in the Fixed Odds section
• The site also helps compare the various betting accounts