What is expected value? Expected value is the difference between the probability you calculated, and what the sportsbooks have determined based on the betting odds on offer.

While I’m not nearly that pessimistic (plus I understand the concept of expected value and probability), I believe this is an excellent hedge against making the wrong decision.

The expected value of a bet becomes a weighted average where the possible outcomes (wins and losses) are weighted according to the probability of each occurring: ...

Third, even the youngest children took probability to be an abstract rather than physical property of the game. Overall, in contrast to the traditional view, the present results demonstrate functional ...

Learn how to calculate Value at Risk (VaR) to effectively assess financial risks in portfolios, using historical, variance-covariance, and Monte Carlo methods.

While we think the recommendations above have improved expected value, no one can guarantee victory all the time. These are high probability trades, but the probability is never 100%.