Get to grips with a Expected Value formula
Discover how to work out not or whether you should make a bet The Expected Value of a bet shows us just how much we could expect to win (on average) a wager, and as such is the most precious calculation a bettor can make when comparing bookmakers odds. How do you calculate Expected Value in sport so as to predict your winnings betting? Keep reading to learn.
The Expected Value of a wager shows us how much we could expect to win (on average) per bet, and as such is the most precious calculation a bettor can create when comparing bookmakers odds. How do you calculate Expected Value in sport gambling so as to forecast your winnings? Read on to find out.
Expected Value
The amount a player can expect to win or lose if they had been to place a wager on the same odds repeatedly, calculated via a simple equation multiplying your odds of winning with the quantity that could win each bet, and subtracting the likelihood of losing multiplied by the amount lost per wager.
GLOSSARY
A very simple example of Expected Value (EV) put into training – if you should bet $10 on heads in a coin toss, and you were to get $11 each time you got it directly, the EV will be 0.5.
This implies 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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