Expected Value Calculator — EV in Betting
Find out if a bet has positive expected value (EV). Enter your stake, American odds, and estimated win probability.
📘 How to Use the EV Calculator
The amount you plan to wager.
Use format like -110 for favorites or +150 for underdogs.
This is your best estimate of the chance your bet wins.
The tool shows your expected value in dollars and as a percentage of stake, plus the implied probability from the odds.
📊 Understanding Expected Value
- Expected Value (EV): The average amount you can expect to win or lose per bet if you placed the same bet many times.
- Positive EV (+EV): A profitable bet in the long run. Professional bettors only take +EV bets.
- Negative EV (-EV): A losing bet over time. The house edge exists in most sportsbook odds.
- Implied Probability: The bookmaker's estimated chance of winning based on the odds. Compare it to your own estimate to find value.
🎯 EV Betting Strategies
Find Value Bets
Use Statistical Models
Bankroll Management
Combine with Kelly Criterion
❓ Frequently Asked Questions
What is expected value (EV) in sports betting?
Expected value (EV) is the average amount you can expect to win or lose per bet if you placed the same bet repeatedly. Positive EV means a profitable bet in the long run.
How do I calculate expected value?
EV = (Probability of Win * Profit if Win) - (Probability of Loss * Stake). For American odds, profit is stake * (odds/100) for positive odds, or stake * (100/|odds|) for negative odds.
What is a good expected value?
Positive EV is good. A 5-10% positive EV is considered strong. Negative EV bets should be avoided unless you're betting for entertainment.
How accurate is my estimated win probability?
Your estimated win probability is the most critical input. Use statistical models, team analysis, and historical data to improve accuracy.
Can I use this calculator for any sport?
Yes, expected value applies to any bet with a binary outcome (win/loss). For multi-outcome bets, you need to sum EV across all outcomes.
Is this EV calculator free?
Yes, our expected value calculator is completely free. No sign-up required. Use it to find value bets.
🛠️ Related Tools
All Sports Tools →🧠 The Playbook Experts
Meet the team →
Kevin Lee
Sportsbook Analyst · 6 yrs
Former odds compiler
Michael Johnson
Lead Reviewer · 12 yrs casino ops
Ex-Shift Manager, Borgata AC
1,450+ hours
real‑money testing
60‑point checklist
licenses, support, payouts
Daily updates
data refreshed March 26, 2026
No paid placements
100% independent