Get to grips with a basic Expected Value formula
Discover how to work out if you should make a bet or not The Expected Value of a wager shows us how much we can expect to win (on average) per wager, and as this is the most precious calculation a bettor can make when comparing bookmakers odds. How do you compute Expected Value in sports betting so as to forecast your winnings? Keep reading to find out.
The Expected Value of a bet shows us how much we could expect to win (on average) a bet, and as this is the most valuable calculation a bettor can create when comparing bookmakers odds. How do you compute Expected Value in sport in order to predict your winnings betting? Read on to find out.
Expected Value
The amount a participant can expect to win or lose if they had been to place a bet on the same odds many times over, calculated via a very simple equation multiplying your probability of winning with the quantity you could win each bet, and subtracting the probability of dropping multiplied by the sum lost per wager.
GLOSSARY
A very simple example of Expected Value (EV) put to training – if you should bet $10 on heads in a coin toss, and you should get $11 every single time you got it right, the EV will be 0.5.
This means that if you should make the exact same bet on heads over and over again, then you can expect to win an average of $0.50 for every wager of $10.
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