Positive EV betting: Main pros and cons

Today we’re going to talk about Positive EV betting, exploring what Expected Value (EV) means, and tell you about all the main advantages and disadvantages.

EV in sports betting: a brief explanation

Perhaps you’re wondering, what does EV mean in betting?

Let’s figure it out. Expected Value (EV) - the way of assessment profitability of the selected bet in the long run. EV can be of two types - positive or negative.

Negative means that the bet with selected odds will lose in the long run. Positive, on the contrary, will bring profit in the long betting distance.

Of course, both experienced and newbie bettors prefer to work with positive ev because it helps them to earn money from sports betting. 

How to calculate positive EV bets?

Suppose, after thorough analysis, you believe that FC Barcelona has a higher than a 50% chance of winning in clash with Real Madrid.

Let's say our analysis suggests a 60% chance of success for Barcelona. Applying the Expected Value formula, the calculation becomes:

EV= (0.60 ∗ PP) − (0.40 ∗ PL)

Here's a breakdown of the components:

PoW (in our example, 0.60): The chance of your bet winning. It is usually expressed as a decimal or percentage.

PP: The sum of money you’ll earn if your bet wins.

PL: The sum of money you'll lose (your bet) if your stake is lost.

PoL (in our example, 0.40): The chance of your bet losing. 

If the result of our calculation is >0, it means that we have Positive EV situation. In other words, bet with such odds can potentially brings profit in the long run.

You may have a reasonable question - where can I find such bets? Let’s figure it out in our further explanation.

How to search for EV bets?

Nowadays, there are two common ways for EV bets search. The first one – is manual search by your own.

The main advantage of this method is you don’t need to pay money for any additional services.

But there is one big disadvantage: you need to analyze thousands of events and correctly identify the real probability of outcomes.

It’s not an easiest task so even the experienced bettors prefer to use in their work EV bet scanners.

Such services analyze betting lines of dozens of bookmakers and make the necessary calculations in a matter of seconds.

Then software provides the complete list of available bets with positive expected value to it’s clients.

Eg., the best positive EV betting scanner BetBurger scans betting lines of more than 300 bookmakers from all over the world in 42 sports and 230 betting markets.

There is also great number of useful features like handy ev bet calculator, which will simplify your work. 

Moreover, if you just a newbie in sports betting and want to know more about the Positive EV betting - you can just find out all the necessary information along with ev bets and sure bet tips on the BetBurger website.

It’s not to mention that this scanner has a free version with some restrictions, so you can make your first steps with the strategy free.

Positive EV Betting: FAQ

Can Positive EV betting guarantee profits in every bet?

No, Positive EV betting increases the likelihood of long-term profitability, but individual bets may still result in losses.

Are there specific sports more conducive to Positive EV betting?

Strategies may vary by sport, but Positive EV principles can be applied across various sports with proper analysis.

Is it essential to use mathematical formulas for Positive EV betting?

While formulas help quantify probabilities, a combination of analysis, expert insights, and statistical tools can contribute to effective Positive EV betting. However, it’s better to use special software, which will help you greatly safe your time.

How can I avoid emotional decision-making in betting?

Setting predefined strategies, sticking to a bankroll management plan, and avoiding impulsive decisions can help mitigate emotional influences.

Conclusion

Nowadays there are so many betting strategies and methods, which promises bettor a tangible income, but only few of them are really effective.

As was proven by many years of bettors experience - positive ev betting is in the list of these profitable betting systems.

Of course, this strategy can’t ensure the winning of all your bets (in comparison with arbitrage betting, which implies winning no matter the final result of sporting event), but it helps your to get tangible income in the long run.