Calculate the expected value of a bet by entering the wager amount, odds, and your estimated win probability.
Calculate the expected value of a bet by entering the wager amount, odds, and your estimated win probability.
Expected Value
$26.00
This bet has positive expected value
Expected Value (EV) represents the average amount you can expect to win or lose per bet over the long run. A positive EV indicates a profitable bet, while a negative EV suggests you'll lose money over time.
Expected Value (EV) is a mathematical measure of the theoretical average outcome of a bet placed many times under the same conditions. A positive EV (+EV) means the mathematical expectation is in your favor over a large sample, while a negative EV (-EV) means the expectation is against you. EV is a theoretical measure — actual results vary, individual bets can win or lose, and outcomes are never guaranteed.
The formula is: EV = (Win Probability × Profit if Win) - (Loss Probability × Amount Lost). For example, a $100 bet at +150 odds with a 45% win probability has an EV of (0.45 × $150) - (0.55 × $100) = $67.50 - $55.00 = +$12.50. This means the theoretical expectation is +$12.50 per bet under the modeled probability. Actual outcomes vary.
Calculating EV manually for every bet is impractical. Our Positive EV Finder scans thousands of odds across 30+ sportsbooks to identify +EV opportunities in real-time. Learn the strategy behind +EV betting in our Positive EV Guide.