1. What is Expected Value in Sports Betting?

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

2. How Does the Calculator Work?

The calculator uses the Expected Value formula:

Where:

• \( Win\ Probability \) — Your estimated probability of winning (0 to 1)
• \( Odds \) — Bookmaker's decimal odds (≥1.00)
• \( Stake \) — Amount wagered in dollars

Explanation: The first part calculates potential winnings, the second part calculates potential losses, and the difference gives the expected value.

3. Importance of EV Calculation

Details: Calculating EV helps bettors identify value bets where the probability of winning is higher than what the odds imply. Consistently finding positive EV bets is key to long-term profitability.

4. Using the Calculator

Tips: Enter your estimated win probability (0-1), bookmaker's decimal odds (≥1.00), and stake amount. All values must be valid (probability between 0-1, odds ≥1, stake ≥0).

5. Frequently Asked Questions (FAQ)

Q1: What does a positive EV mean?
A: A positive EV suggests the bet is profitable in the long run. Negative EV means you'll lose money over time.

Q2: How accurate do my probability estimates need to be?
A: The more accurate your win probability estimates, the more reliable the EV calculation. Use statistical models for best results.

Q3: What's considered a good EV?
A: Even small positive EV (+0.05 or higher) can be valuable when compounded over many bets.

Q4: Does EV guarantee short-term results?
A: No, EV is about long-term expectation. Short-term results can vary due to variance.

Q5: Should I only bet when EV is positive?
A: While positive EV bets are ideal, other factors like bankroll management and risk tolerance should also be considered.