Expected Value (EV)

Expected Value (EV) is a statistical concept representing the average outcome of a bet if it were repeated many times. Positive EV (+EV) means the bet is profitable long-term; negative EV (-EV) means the house has the edge. In casino games, nearly all bets are -EV because of the house edge. In sports betting, finding +EV bets is the key to profitable gambling — this happens when a bookmaker's odds overestimate the probability of an outcome. Calculating EV: (Probability of Win × Amount Won) - (Probability of Loss × Amount Lost). Professional gamblers focus exclusively on +EV opportunities.