Free expected value (EV) calculator for betting. Enter odds and your win probability to find the EV in $ and %, the fair price, and your edge.
Expected value is the average profit or loss a bet returns over many placements. EV per $1 = (win probability × profit if it wins) − (loss probability × 1). A bet is +EV when your estimated win probability beats the probability implied by the price.
Over a large sample, betting +EV consistently is the only thing that produces long-run profit.
Anything above 0% is positive expectation. Sustained edges of 1–5% EV are strong.
No. EV is a long-run average; any single bet can lose. A portfolio of +EV bets profits over time.