Expected Value Calculator
Calculate expected value (EV) of bets to determine long-term profitability
About this calculator
The Expected Value Calculator helps bettors determine the long-term profitability of wagers by calculating the mathematical expectation of each bet. Expected value (EV) shows whether a bet has positive or negative value over time, allowing you to make informed decisions about which bets to place. A positive EV indicates a profitable bet in the long run, while negative EV suggests you'll lose money over time. This tool is essential for serious bettors who want to maximize their returns and minimize losses through data-driven betting strategies.
How to use
Enter the probability of winning your bet as a percentage or decimal, input the potential payout amount you'll receive if you win, and specify your stake or bet amount. The calculator will instantly compute your expected value, showing whether the bet offers positive or negative long-term value.
Frequently asked questions
What does a positive expected value mean?
A positive EV means the bet is mathematically profitable over time and you should expect to make money in the long run.
How accurate do my probability estimates need to be?
Probability estimates should be as accurate as possible since small changes can significantly impact expected value calculations and betting decisions.
Should I only place bets with positive expected value?
Yes, consistently betting on positive EV opportunities is the key to long-term profitability in sports betting and gambling.