Keep seeing these terms and have no clue what they mean. Any tips? Sorry if this sounds dumb, but please I want to get in the loop.
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+EV = Positive expected value
-EV = Negative expected value
Put simply +EV is a situation or bet where you have an advantage/edge like receiving +110 on a coin flip.Comment -
So like taking a big moneyline is considered -EV, because you're risking 4/5 to 1 at the least? Did I understand that right?Comment -
No.Originally posted by GamblerSpirit
The coin flip at +110 has +EV because there is a 50.00% probability of winning but the odds you bet at are better than that. They represent an implied probability of 47.62%.
If I offered you +400 on rolling a 6 on a dice, that would have -EV because the probability of you doing it (16.67%) is lower than the implied probability of the odds (20.00%).Comment -
There are a few threads by ganchrow going into full detail on expected value, expected growth and probability theory in betting
I would read those first.Comment
