1. 04-04-11 03:58 PM #1
    PureGuava
    PureGuava's Avatar Become A Pro!
    Join Date: 04-26-08
    Posts: 1,294
    Betpoints: 120

    What does EV mean?

    I never really understood what this means. Could someone explain to me what EV stands for and what an -EV bet is and a +EV bet is.

    Thanks,

    PureGuava
    Reply With Quote Reply With Quote
  2. 04-04-11 04:24 PM #2
    wrongturn
    Update your status
    wrongturn's Avatar Become A Pro!
    Join Date: 06-06-06
    Posts: 2,228
    Betpoints: 3726

    EV stands for expected value. +EV bet is a bet that is expected to make you money after you make enough number of such bet. Google for more authentic answers.
    Reply With Quote Reply With Quote
  3. 04-04-11 04:48 PM #3
    unusialsusp5
    unusialsusp5's Avatar SBR PRO
    Join Date: 04-18-10
    Posts: 4,184
    Betpoints: 3601

    i think it means that you are betting even money 43.00 to win 43.00 on an even-6 baseball line for example...
    Reply With Quote Reply With Quote
  4. 04-04-11 04:50 PM #4
    wiffle
    wiffle's Avatar Become A Pro!
    Join Date: 07-07-10
    Posts: 610
    Betpoints: 13

    Quote Originally Posted by unusialsusp5 View Post
    i think it means that you are betting even money 43.00 to win 43.00 on an even-6 baseball line for example...
    lawl
    Reply With Quote Reply With Quote
  5. 04-04-11 06:24 PM #5
    LT Profits
    LT Profits's Avatar Become A Pro!
    Join Date: 10-27-06
    Posts: 90,963
    Betpoints: 5179

    Quote Originally Posted by wrongturn View Post
    EV stands for expected value. +EV bet is a bet that is expected to make you money after you make enough number of such bet. Google for more authentic answers.
    ^This

    An example of +EV is getting -140 on a play with a 60% probability

    An example of -EV is getting +200 on a play with a 30% probability
    Reply With Quote Reply With Quote
  6. 04-04-11 06:26 PM #6
    rfr3sh
    Blind Knucklehead
    rfr3sh's Avatar Become A Pro!
    Join Date: 11-07-09
    Posts: 10,229
    Betpoints: 604

    Quote Originally Posted by unusialsusp5 View Post
    i think it means that you are betting even money 43.00 to win 43.00 on an even-6 baseball line for example...
    lol you are not the only one who thinks this on the site...sadly
    Reply With Quote Reply With Quote
  7. 04-04-11 06:36 PM #7
    antifoil
    Update your status
    antifoil's Avatar Become A Pro!
    Join Date: 11-11-09
    Posts: 3,993
    Betpoints: 6611

    the easiest way to explain is in a coin flip example since the odds are known. there is a 50-50 chance that a coin will come up heads or tail which makes the fair odds an even bet of 1:1 or risk 100 dollars to win 100 dollars. over the long run your expected value here would be to break even since there is no edge favoring one side. however, if you could convince your buddy to pay you 110 dollars every time the coin comes up head but only pay him 100 dollars when the coin is tails then you would have an expected value return of 10 dollars every 2 coin flips or 5 dollars every one coin flip.

    EV = (probability of winning) x (amount won per bet) + (probability of losing) x (amount lost per bet)
    Reply With Quote Reply With Quote
  8. 04-05-11 12:14 PM #8
    PureGuava
    PureGuava's Avatar Become A Pro!
    Join Date: 04-26-08
    Posts: 1,294
    Betpoints: 120

    Thanks. Any more examples with sports betting?
    Reply With Quote Reply With Quote
  9. 04-05-11 12:22 PM #9
    stevenash
    stevenash's Avatar Moderator
    Join Date: 01-17-11
    Posts: 62,661
    Betpoints: 32303


    I thought EV was Kentucky to win the National Championship at +140
    Reply With Quote Reply With Quote
  10. 04-11-11 10:09 AM #10
    WendysRox
    WendysRox's Avatar Become A Pro!
    Join Date: 07-22-10
    Posts: 184
    Betpoints: 37

    Quote Originally Posted by PureGuava View Post
    I never really understood what this means. Could someone explain to me what EV stands for and what an -EV bet is and a +EV bet is.

    Thanks,

    PureGuava
    If you ask me, this is a must read: http://www.sportsbookreview.com/forum/handicapper-think-tank/29841-maximizing-expected-growth-kelly-criterion-part-ii.html
    Reply With Quote Reply With Quote
  11. 04-13-11 09:04 AM #11
    arwar
    arwar's Avatar Become A Pro!
    Join Date: 07-09-09
    Posts: 208
    Betpoints: 1544

    well in sportsbetting the EV is by definition a subjective thing. then recently a buddy of mine asked about applying Kelly to Poker. EV in poker is easy because the calculations of winning probabilities can and are published with certainty. DOH
    Reply With Quote Reply With Quote
  12. 04-13-11 09:29 AM #12
    mr.inpak
    mr.inpak's Avatar Become A Pro!
    Join Date: 12-13-09
    Posts: 448
    Betpoints: 127

    even means even money example phillies -110-even vs. atlanta dime line in baseball philadelphia $110-100 atlanta $100-100 even money
    Reply With Quote Reply With Quote
  13. 04-15-11 03:32 AM #13
    Jenney001
    Jenney001's Avatar Become A Pro!
    Join Date: 03-04-11
    Posts: 8
    Betpoints: 0

    Thanks for the response..
    Reply With Quote Reply With Quote
  14. 04-15-11 01:04 PM #14
    FrizB
    FrizB's Avatar Become A Pro!
    Join Date: 02-09-11
    Posts: 119
    Betpoints: 77

    Thanks. I wasn't sure either...
    Reply With Quote Reply With Quote
  15. 04-15-11 09:26 PM #15
    Krashman
    Krashman's Avatar SBR PRO
    Join Date: 07-24-09
    Posts: 3,601
    Betpoints: 27666

    +EV means a bet has a positive expected value
    -EV means a bet has a negative expected value

    Lets say there is a sporting event, you follow this sport closely, you analyze the stats of both teams, you think both teams are evenly matched, its a toss up as to which team could win it.

    So you log in to your bookie and the odds are +150/-160. The book is saying the home team is the dog (+150) and is more likely to lose. You disagree and remain convinced it is an even matchup.

    Since you expect both teams have equal chance of winning, from your point of view the +150 line at the sport book is a +EV bet, because it pays 1.5 times the amount bet, a bet which you expect to win 50% of the time. You more than double your bet half of the time, and YOU expect to win this bet half of the time.

    ---------------------

    POSITIVE EXPECTED VALUE is expresses as +EV
    NEGATIVE EXPECTED VALUE is expressed as -EV

    EVEN ODDS is expressed as +100, or -100, or 2.0 (decimal odds), or 1/1 (fractional odds), or 50% (implied probability)
    or for example totals o8.5 EV
    Last edited by Krashman; 04-15-11 at 09:43 PM.
    Reply With Quote Reply With Quote
  16. 04-16-11 07:12 AM #16
    ViPeRz
    ViPeRz's Avatar Become A Pro!
    Join Date: 12-01-10
    Posts: 260
    Betpoints: 0

    Good luck to you gava
    Reply With Quote Reply With Quote
  17. 04-16-11 08:10 AM #17
    HoulihansTX
    Bowl $ea$on
    HoulihansTX's Avatar Become A Pro!
    Join Date: 02-11-09
    Posts: 30,566
    Betpoints: 295

    Quote Originally Posted by unusialsusp5 View Post
    i think it means that you are betting even money 43.00 to win 43.00 on an even-6 baseball line for example...
    Quote Originally Posted by mr.inpak View Post
    even means even money example phillies -110-even vs. atlanta dime line in baseball philadelphia $110-100 atlanta $100-100 even money
    Fail x2
    Reply With Quote Reply With Quote
  18. 04-16-11 11:32 AM #18
    Richkas
    Richkas's Avatar Become A Pro!
    Join Date: 02-03-08
    Posts: 19,396
    Betpoints: 5

    80% of the guys in the think tank think they're sharp. The books laugh at them.
    Reply With Quote Reply With Quote
  19. 04-17-11 04:50 AM #19
    onetrickpony
    onetrickpony's Avatar Become A Pro!
    Join Date: 08-23-10
    Posts: 9,434
    Betpoints: 0

    unreal
    Reply With Quote Reply With Quote
  20. 04-17-11 08:19 AM #20
    ncsubowen
    ncsubowen's Avatar Become A Pro!
    Join Date: 02-12-11
    Posts: 1,227
    Betpoints: 10

    It means expected value.

    http://www.pokerlistings.com/strateg...e-ev-explained

    "In probability theory the expected value of a random variable is the sum of the probability of each possible outcome of the experiment multiplied by the outcome value (or payoff). Thus, it represents the average amount one 'expects' as the outcome of the random trial when identical odds are repeated many times."
    What that means in English: expected value is the amount of money you would win or lose on average on your bet.
    Reply With Quote Reply With Quote
Top
« Previous Thread | Handicapper Think Tank | Next Thread »