What is the Positive EV Betting Calculator?
The positive EV Betting Calculator let’s you check if a potential bet has a positive expected value for 2-way and 3-way markets.
By comparing odds offered by a soft sportsbook against the line available at a sharp sportsbook. The calculator will estimate the long term profitability of the bet by devigging the sharp line and comparing the true odds to the soft odds.
Additionally, the calculator can also work out the optimal bet stake for your bet according to Kelly Criterion staking theory.
How to use the Positive Expected Value Calculator
The first thing we need to do when using the calculator is set the odds format that we want to use. The calculator currently support Moneyline Odds (American Odds) and Decimal Odds.
We can select our odds format using the dropdown menu at the top of the page.
Next we want to set the calculator to either a 2-Way Market or a 3-Way Market using the dropdown menu to the right hand side of the calculator.
Once this market is set we want to enter the betting odds for the bet we are looking to check the expected value of.
Additionally we can add a bet stake if we already have decided how much we want to bet and don’t need (or want) to using Kelly Bet Staking
Alternatively we can have to calculator work out the optimal bet stake for us given our bankroll by filling out the Kelly Criterion Staking section. (Note: The Bet Stake will adjust once we add the odds from the sharp sportsbook.)
The last piece of information that we need to enter into the calculator are the odds from the sharp sportsbook that we’ll use to determine if the bet is a positive ev bet.
Important: Make sure that the odds of the betting outcome we are comparing is in the Outcome One Odds box
The profit margin and expected value of the bet will be displayed at the bottom of the calculator.
