Could someone explain to me what a value bet is?

[ctv1116]

Everyone here talks about value bets, like "You should have value bet the river" or "Did I miss a value bet?" Could someone explain this term to me?

[crockpot]

basically, it means that when you are called, you will have the best hand more often than not. so if you somehow know that your opponent will call with 49 hands that beat yours and 51 that you beat, you are betting for value (assuming he does not raise).

[James Boston]

I don't disagree with you, but wouldn't the simplest explanation be- a bet that you want someone to call, as opposed to an isolation raise, bluff raise, etc.. ?

[crockpot]

not necessarily. say there is a big pot, and on the last round you asssess your chances of having the best hand at about 80%. if he always folds to your bet here, it is much better than if he always calls, even though you will win an extra bet 80% of the time if he always calls. if he always folds you will win what is in the pot 100% of the time, a better result.

basically, value betting means that your result is better by betting and getting called, than by having the betting checked around. but you don't necessarily want to be called; if your opponent is a weak player, your result may be better if he folds.