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