What does EV mean in betting? Complete EV Betting Guide 2024
Expected Value (EV) is a useful tool for determining the potential monetary outcome of a bet by taking into account the disparity between the predicted probabilities. It allows you to calculate the variance between your own assessments and the forecasts made by the bookmaker.
When you identify a situation where you believe a team has a higher likelihood of winning than what the sportsbook indicates, it is considered a value bet and is assigned a positive EV. Conversely, if you perceive that the team has a lower chance of winning, a negative EV is assigned.
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