Expected Value (EV)
Measures whether a bet is profitable long-term by calculating your edge over the bookmaker's implied probability.
How it works
Inputs
- Your estimated win probability
- Decimal odds offered
- Stake amount
Results
- Expected Value ($)
- EV%
- Your edge vs book
- Long-term projection
When to use
Use when you have a probability estimate that differs from the bookmaker's implied probability.
Example
You estimate 55% win chance, book implies 50% at 2.00 odds — you have a 5% edge and +EV.
Frequently Asked Questions
What is expected value in betting?
Expected value (EV) measures the average profit or loss per bet over the long run. A positive EV (+EV) means the bet is profitable over time, while negative EV (-EV) means you'll lose money on average.
How do I find positive EV bets in Australia?
Compare your estimated probability of an outcome to the bookmaker's implied probability (1 / decimal odds). If your probability is higher, the bet is +EV. Tools like HyperOdds automate this across Australian bookmakers.
Is EV betting legal in Australia?
Yes. EV betting is simply placing bets where you believe the odds offer value. It's a mathematical approach to betting, not a system to manipulate outcomes.
Need live odds data?
HyperOdds automatically finds the best odds across all major Australian bookmakers in real-time.