For any regular bettors, you’ve probably encountered often about EV or Expected Value. It may be the simplest way for any new bettor to find good value bets; hence the name.
While other terms and words are something that should not be ignored, bettors can actually survive by being able to have good background of EV.
What Exactly is an EV?
Simply speaking, EV is the measure of the expected amount that a bettor may lose or win on every bet they placed on similar odds over and over again. The positive expected value or +EV is implying profit in the long run while negative value or –EV is the opposite. Needless to say, the higher the EV is, the better the bet’s value is.
A common example for expected value is a simple coin flip. Say that is okay to pay bettors a $10 return on a $9 bet on either side of the coin. For every bet, the EV is going to be .5. Whenever the punter bet $9, they are expected to win $.5 on it, making it a +EV.
It Takes Time and Practice
With luck and a bit of practice in the long run, the bettor will eventually generate profits.