Expected Value Calculator (EV)
The Expected Value Calculator is here to help you find when bets are the most valuable for you.
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Please feel free to input the Bet Amount, Odds, and Win Probability and the Expected Value Calculator will instantly calculate your Expected Value and Expected ROI %.
If you're looking for ways to set your own price on add bets, jump on into BettorEdge's Betting Exchange for your chance to maximize your Expected Value!
Other Betting Calculators
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Expected Value
What is Expected Value in the Expected Value Calculator?
Expected Value (EV) is the amount you'd expect to return on average. Expected Value is a a statistical concept that has the long-term win or loss amounts over the long run based on probabilities and potential payouts.
In sports betting, the Expected Value Calculator calculates EV, which helps bettors assess whether a bet is profitable over time, given the odds and the implied probabilities of outcomes.
How to Use The Expected Value Calculator
Expected Value (EV) Calculator is a useful tool that helps bettors quickly calculate the potential profitability of a bet based on the odds and probabilities.
To use an EV calculator, you’ll need a few key pieces of information:
- Bet Amount
- Odds (in American Odds)
- Win % (in Probability)
The Expected Value Calculator (EV Calculator) will then determine the EV % and Expected ROI for the bets over the long run.
How to Use Expected Value Calculator to Improve Your Betting Strategy
Now that you understand the Expected Value Calculator, lets dive into ways to use it to improve your betting strategy:
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Identify +EV Bets or find positive expected value bets
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Compare Odds Across Bookmakers to ensure you get the best value
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Track Your Results: Keep track of your betting results to see if you are consistently identifying positive EV bets. Adjust your strategy based on your findings.
How to Calculate Expected Value
The formula for expected value is:
(Fair Win Probability * Profit If Win) - (Fair Loss Probability * Bet Amount)
For example, if you bet $100 on the Lakers spread at +110 on BettorEdge, the EV = 50% * $110 - 50% * $100 = $55 - $50 = $5. Therefore, you instantly get a profitable bet and positive expected value by 5%.
How to Maximize Expected Value
Maximize your Expected Value by finding the best odds across your bets. You can do this one of two ways:
1. Odds Shopping: Shop across betting platforms to always find the best odds at sportsbooks available to you.
2. Use a Betting Exchange: Use a betting exchange like BettorEdge that takes no vig to get the best odds or set your odds that locks in your desired Expected Value per bet.
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How BettorEdge can help Sports Bettors Get Higher Expected Value
Since BettorEdge is a Betting Exchange, you can set your own odds and leverage the efficiencies in technology to find other bettors interested in taking bets at the opposite price. You'll consistently get the best price and most winnings back into your pocket. BettorEdge connects you directly with other users in the community and does not have take on the risks that a Sportsbooks takes on. Collectively, you win more and take home more of your winnings to maximize your expected value!
Sign up now to start winning more today!
