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What is Expected Value?

Expected value (EV) is a concept used in betting to determine the average amount you can expect to win or lose per bet if you placed the same bet multiple times. It helps bettors assess whether a bet offers good value based on its odds and the probability of winning.

How to Use the Expected Value Calculator

1. Enter the Odds: Input the odds for the bet. You can use any format:
   • Fractional (e.g., 1/2)
   • Decimal (e.g., 2.50)
   • American (e.g., +150)
2. Enter the Probability: Input the probability of winning the bet as a percentage.
3. Enter the Stake: Input the amount you plan to stake on the bet.

Example Scenario

Suppose you have fractional odds of 2/1, a probability of 33.33%, and a stake of $100. Enter these values into the respective fields. The calculator will display the expected value of the bet.

Tips and Tricks

• Compare the expected value of different bets to find the best opportunities.
• Use expected value to help manage your bankroll and make more informed betting decisions.

Frequently Asked Questions

What is a good expected value for a bet?

A positive expected value indicates that a bet is likely to be profitable in the long run. The higher the expected value, the better the bet.

Can expected value guarantee a profit?

No, expected value is an average over many bets. It helps identify profitable opportunities, but individual outcomes can still vary.