TABLE OF CONTENTS
Betting on sports and teams based on intuitions is one of the many ways but this involves a great risk of failing to undertake the mathematics behind it. +EV betting is just that math-backed sports betting phenomenon that makes money out of betting, and surely quantifiably.
Now, what’s EV? Why does EV matter in sports betting? How to calculate EV? There would be more than this list of questions you’d be seeking answers for! So, let’s dive deep into Expected Value (EV) betting and understand its ins and outs via this blog.
Now, what’s EV? Why does EV matter in sports betting? How to calculate EV? There would be more than this list of questions you’d be seeking answers for! So, let’s dive deep into Expected Value (EV) betting and understand its ins and outs via this blog.
What Is Expected Value (+EV) In Sports Betting?
Expected value or EV, if explained precisely, is a variation between the odds provided by the sportsbook and the ones expected by the bettors. It is a fundamental idea in sports betting that lets players or bettors conveniently identify their potential wins and profits. Distinct in nature from mere luck-based betting, EV betting depends on statistical parameters and analytics for prompt and profitable bet value determination.
Why +EV Matters?
Guides Betting Decisions
When players bet using the EV betting software, it helps them with the comparison of estimated winning probabilities and the bookie odds provided. This way, bettors or players determine their potential to win the specific bet profitably.
To say in other way, EV sports betting matters for bettors to enable more informed and rational decisions, rather than employing intuitions or emotional biases.
Profitability In Long-Run
Positive expected value or +EV enhances the chances for players to be profitable in the long run. +EV betting implies that approach that on consistent and average employment, its winnings or returns outweigh their losses or risks.
Thus, the long-term frame of +EV bets benefits players with sustainability in the betting business. Nevertheless, this mathematical idea of betting mitigates emotional biases, randomness, and perceptional performance.
Reduced Risk Of Losses
Undeniably, when we talk about the profitable returns in +EV betting due to mathematical pillars, it certainly marks a reduction of chances to bear bet losses. EV betting fosters a more analytical approach to betting on sports, therefore marking lesser losses.
Moreover, the disciplined nature of betting that comes from +EV betting and its rational patterns make players secure from uncontrollable risks and losses and thereby aid effective bankroll management.
EXPLORE MORE BLOGS FROM VARIOUS CATEGORIES
How Does +EV Work?
Understand Probability & Odds
+EV sports betting is a crucial approach in a betting phenomenon that lets bettors potentially identify the potential probability of a wager. Any EV sports betting software involves a primary assessment of the probability of an outcome which is compared to the odds provided by a bookie or bookmaker. Here, bettors not only get to reflect on the odds for the assessment of probabilities but also on the profit margins.
Probability Calculation
Using statistical analysis, expert opinions, historical data, and other factors, the next step in EV betting is to calculate the probability of your bet winning, expressed in the form of decimals. For instance, a 40% probability of winning is 0.40, and so on.
Odds Assessment
The next step to working on EV bets is considering the odds provided by the bookie. These odds can be in any of the standard formats followed i.e. fractional, decimal, moneyline, etc. However, the decimal style of odds writing is most commonly used.
Profit Calculation
Once the expected value has been calculated, let’s calculate the profits by means of odds and the amount bet on sport.
An EV betting software calculates your profits as :
Potential Profits = (Odds - 1) x Amount Bet
EV Calculation
Now is the time to calculate the expected value or EV using the formula for EV.
The formula for EV calculation is:
EV = (Probability of Winning x Potential Profits) - (Probability of Losing x Amount Bet)
How To Identify & Calculate +EV Bets - Examples
Let’s assume a football match between teams A and B. As a bettor, you place a $100 bet on team A having odds of 2.00,
and estimate their probability to win to be 55%.
This accounts for: Winning probability = 0.55 Thus, Losing probability = 0.45
Now, Odds provided = 2.00 Amount bet = $100
Let’s calculate potential profit and expected value (EV)
Potential profit = (Odds – 1) x Amount Bet Potential profit = (2.00 – 1) x 100 Thus, potential profit = $100
Now, let’s get ahead to the final step i.e. Expected Value (EV) calculation: EV = (Probability of Winning x Potential Profits) – (Probability of Losing x Amount Bet) EV = (0.55 x 100) – (0.45 x 100) Thus, EV = +10
A positive EV (+EV) of +10 indicates that the bet placed by the bettor is expected to be potentially profitable in the long run.
This accounts for: Winning probability = 0.55 Thus, Losing probability = 0.45
Now, Odds provided = 2.00 Amount bet = $100
Let’s calculate potential profit and expected value (EV)
Potential profit = (Odds – 1) x Amount Bet Potential profit = (2.00 – 1) x 100 Thus, potential profit = $100
Now, let’s get ahead to the final step i.e. Expected Value (EV) calculation: EV = (Probability of Winning x Potential Profits) – (Probability of Losing x Amount Bet) EV = (0.55 x 100) – (0.45 x 100) Thus, EV = +10
A positive EV (+EV) of +10 indicates that the bet placed by the bettor is expected to be potentially profitable in the long run.
Want to Know More About the Best Practices
Why Do You Need +EV Betting Platform?
Smart Decisions
EV betting software for bookmakers is no less than a boon, and why not if it provides your bettors with complete data-driven betting insights and confidently valuable information? This allows bettors to make more informed decisions based on long-term profitability of the bets, thus elevating user experience, quick decision-making, and performance.
Competitive Advantage
Exploiting EV sports betting software as a bookie differentiates your sportsbook from industrial rivals. EV betting trends also let you attract savvy bettors who seek to improvise and optimize their betting strategies via such analytical tools, thus making your sportsbook stand out from the rest.
Increased Engagement
Of course, who wouldn’t like to potentially grow their profits from betting? And once you make them achieve the best EV betting results, your bettors will more than likely to continue using your EV betting platform platform which enhances their chances to succeed. This will certainly raise their trust in the EV sportsbook platform, thereby enhancing user engagement and retention rate.
Operational Efficiency
What’s most special about EV betting platforms is that it provide sportsbook operators or bookies with automated processes. The EV sports betting platform for sportsbooks streamlines operations by automating the complete calculations, mathematical analysis, etc., and reduces the manual workloads and chances of error.
Positive EV Betting Software Development - Key Takeaways
Risk Management in EV Betting
As a bookmaker, having full secured, safe, and certified positive EV betting software is crucial. For bettors, even with a positive EV, the variance in odds, platform efficiency, etc. will variate winning and losing chances. So it's essential for both operators and users to know, understand, manage, and prevent betting risks on their sides.
Back Office & Administration
All-inclusive management of positive EV betting activities and data is another aspect to look for among bettors when choosing EV sports betting software. From real-time odds and data to data-driven insights, reporting and statistical management, user-centric dashboards, etc. manageable back-office tools for EV betting are most likely to attract punters.
User Engagement & Information
As a bookie, what could intrigue or draw your bettors’ attention towards bets? Well, of course, the notifications and messages you send them to revisit the platform. Therefore, EV betting platforms for bookmakers equip the best CMS and user engagement tools that alert punters about every now and then, new and old, important announcements, limited-time offers, and whatnot to keep them coming.
GammaStack - Top-Notch EV Betting Provider
Launch your +EV betting platform now or upgrade your existing sportsbook with EV sports betting with GammaStack. Leading in the industry for over 13 years and beyond now, GammaStack is known for its strong catch on industrial trends. Specialties of GammaStack as the EV betting platform provider include but are not limited to:
- On-demand to 100% custom EV betting software development
- Arbitrage betting integration services for more performance
- Global sports coverage with universalized payment support
- Geo-local managed services for enhanced user traction
- End-to-end development assistance and beyond
FAQs
Expected value or EV, in sports betting, refers to the calculated, anticipated value for a bet. EV
betting determines and represents the average amount a player can estimate to win or lose in long
run.
In simpler words, EV sports betting explains punters whether they can achieve potential profits from
a bet being placed, all using the data-driven checks and mathematical check. EV can be positive or
negative, where +EV indicates profitability in the long run, while -EV indicates loss.
EV stands for Expected Value which is a crucial element in sports betting that helps bettors understand and evaluate their wins and profitability of wagers. +EV represents bets that are likely to be profitable over time, whereas -EV represents the opposite. This assists bettors with strategic betting decisions.
+EV betting or positive EV betting means the bettor has identified a bet where potential returns are bigger than the implied risks. This means, the bettor can expect to achieve profits over time, irrespective of the short-term fluctuations.
- Choice of sports and leagues
- Choice of regional coverages
- Languages, currencies, wallets, etc.
- UI/UX, themes, designs, etc.
- CMS & 3rd party admin tools, and beyond.
EV betting is generally less risky in long term than the other betting approaches because of its focus on profitable bet generation. However, nothing comes risk-free.
- Short-term fluctuations and losses
- Market changes and match variations
- Languages, currencies, wallets, etc.
- Human error in odds understanding, and many more factors can bring risks to EV betting.
Rising Star Award
Premium Usability Award
