Ev Calculator Betting Money

Expected Value (EV) Equation:

\[ EV (\$) = (Win\ Probability \times Profit (\$)) - (Loss\ Probability \times Stake (\$)) \]

Win Probability:

decimal (0-1)

Profit ($):

Loss Probability:

decimal (0-1)

Stake ($):

Expected Value (EV):

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1. What is Expected Value in Betting?

Expected Value (EV) is a key concept in betting money management that represents the average amount you can expect to win or lose per bet if you were to place the same bet multiple times. A positive EV indicates a profitable bet in the long run.

2. How Does the EV Calculator Work?

The calculator uses the Expected Value equation:

\[ EV (\$) = (Win\ Probability \times Profit (\$)) - (Loss\ Probability \times Stake (\$)) \]

Where:

$ Win\ Probability $ — Probability of winning the bet (0-1)
$ Profit (\$) $ — Potential profit if the bet wins
$ Loss\ Probability $ — Probability of losing the bet (0-1)
$ Stake (\$) $ — Amount risked on the bet

Explanation: The equation calculates the average expected profit per bet by considering both winning and losing scenarios.

3. Importance of EV Calculation

Details: Calculating EV helps bettors make informed decisions about which bets to place. Positive EV bets are mathematically profitable in the long run, while negative EV bets should generally be avoided.

4. Using the Calculator

Tips: Enter win probability (as decimal between 0-1), potential profit amount, loss probability, and stake amount. All values must be valid (probabilities between 0-1, monetary amounts ≥0).

5. Frequently Asked Questions (FAQ)

Q1: What does a positive EV mean?
A: A positive EV indicates that the bet is expected to be profitable in the long run if placed repeatedly under the same conditions.

Q2: How accurate does the probability need to be?
A: The more accurate your probability estimates, the more reliable the EV calculation. Professional bettors spend significant time refining their probability models.

Q3: Should I only take positive EV bets?
A: While positive EV bets are ideal, other factors like bankroll size, variance, and personal risk tolerance should also be considered.

Q4: What about pushes/ties?
A: The basic EV formula shown here assumes only win/lose outcomes. For more complex scenarios with multiple outcomes, a more detailed calculation is needed.

Q5: How does this relate to Kelly Criterion?
A: While EV tells you if a bet is good, Kelly Criterion helps determine the optimal bet size based on your edge and bankroll.