1. What is Expected Value in Betting?

Expected Value (EV) is a statistical concept that represents the average amount a bettor can expect to win or lose per bet if the same bet is placed multiple times. A positive EV indicates a potentially profitable bet in the long run.

2. How Does the EV Calculator Work?

The calculator uses the Expected Value formula:

Where:

• \( Win\ Probability \) — Probability of winning the bet (0 to 1)
• \( Profit \) — Potential profit from the bet (in $)
• \( Loss\ Probability \) — Probability of losing the bet (0 to 1)
• \( Stake \) — Amount risked on the bet (in $)

Explanation: The formula calculates the average outcome per bet if the same bet were repeated many times. Positive EV suggests a good betting opportunity.

3. Importance of EV Calculation

Details: Calculating EV helps bettors make informed decisions by quantifying the long-term value of a bet. It's fundamental to successful sports betting strategies.

4. Using the Calculator

Tips: Enter win probability (as decimal between 0-1), potential profit, loss probability, and stake amount. All values must be non-negative.

5. Frequently Asked Questions (FAQ)

Q1: What does a positive EV mean?
A: A positive EV indicates that the bet is theoretically profitable in the long run, though individual results may vary.

Q2: How accurate is EV calculation?
A: EV accuracy depends on the accuracy of your probability estimates. The more precise your win/loss probabilities, the more reliable the EV calculation.

Q3: Should I only make +EV bets?
A: While +EV bets are ideal, other factors like bankroll management and bet sizing also play crucial roles in successful betting.

Q4: How do I estimate win probability?
A: Win probability can be estimated using statistical models, comparing odds across bookmakers, or using historical data analysis.

Q5: Does EV guarantee profits?
A: No, EV indicates long-term expectation. Short-term results can vary due to variance, but consistently making +EV bets should lead to profit over time.