What is Expected Value (EV) in Sports Betting?

Expected Value (EV) is a key concept in sports betting that measures the potential profitability of a bet over time. It represents the average amount a bettor can expect to win or lose per wager if the same bet were placed multiple times. EV is calculated by multiplying the probability of winning by the potential profit and subtracting the probability of losing multiplied by the stake. A positive EV (+EV) bet indicates a long-term profit opportunity, while a negative EV (-EV) bet suggests a long-term loss. Successful bettors focus on finding +EV bets to maximize their returns over time.