Yes, you can compile years of historical data and advanced analytics to get a loose idea of what the probability is, but, as any sports fan knows, nothing is guaranteed on any given night.īut, that doesn’t mean you can’t try. This means the vig on any even-money bet is 4.76%.ĮV sports betting, also known as +EV betting, isn’t an exact science because of the inherent subjectivity of wagering on sports. So, to calculate the vig you take this difference pocketed by the sportsbooks ($10) and divide it by their total payout ($210). The two of you bet a combined $220, but the winner will only get $210 back thanks to the odds. Suppose you’re watching a regular old Sunday afternoon NFL game, and you and a friend just put down $110 each on different teams to cover. Let’s look at a simple spread betting example. The vig is basically the amount of profit a sportsbook expects to make on a particular bet. To understand EV gambling you need to understand one thing, sportsbooks are trying to make a profit on every single bet they offer, and the lines are set accordingly. On this page, we’ll be breaking down key concepts behind positive EV betting, exploring a number of strategies, and discussing the general concept of sports betting value at large to help you become a more informed and knowledgeable bettor. Expected Value (EV) betting is an essential sports betting strategy that attempts to measure the difference between the perceived value of a bet and the odds offered by a sportsbook.Īny experienced sports bettors should take the time to research EV betting because not only does it offer some incredible potential profit-making opportunities, but it also gives you a better understanding of the math behind the entire gambling industry.

What does ev mean gambling