Understanding Positive EV in betting can significantly enhance your wagering strategies and help ensure smarter bets. EV stands for Expected Value, a crucial concept in gambling that determines the potential profitability of a wager in the long run.
What is Positive EV?
Positive EV (+EV) occurs when a bet has a higher probability of winning than implied by the odds provided by the bookmaker. Simply put, if you place a bet with positive EV consistently, you’re more likely to be profitable over time.
How to Calculate Positive EV
- Convert the odds into an implied probability.
- Estimate the actual probability of the event occurring.
- Compare the implied probability with your estimated probability.
Benefits of Positive EV Betting
- Increase long-term profitability.
- Reduce losses on wagers.
- Make more informed betting decisions.
Tips for Finding Positive EV Bets
- Research thoroughly and use statistical analysis.
- Look for undervalued bets.
- Utilize betting tools and calculators.
