How to Win at Sports Betting- Tricks and Strategies
If you have spent most of your time betting on sports based on only your intuition, and you are wondering if there are strategies you can use to increase your chances of winning, this article is for you. A lot of bettors choosing betting companies in Kenya to bet on sports events, based on what they know about the game and the sport as a whole. But these are not enough to ensure wins in the long run. While having useful knowledge of the sports you are betting can be quite useful, you will need more than to increase your chances of betting.
It is a widely known fact that the bookie always has an edge over punters, but not many people know bettors can increase their chances of winning as well. In this article, we are going to explain the term Expected Value (EV) and how you can use it to enhance your chances of winning your bets.
Expected Value in Sports Betting
Expected value is an important term in gambling and new punters will see it pop up now and then. Expected value refers to the measure of what can be gained or lost on each bet placed on an odd. Experienced bettors know how important it is to know the expected value of each bet before it is placed. How does expected value help improve the chances of winning? If that is the question on your mind, hang in there as you are about to find out.
A positive EV implies profit over time, while negative EV implies losses. Also, the higher the EV of a bet, the better the value and the higher the expected return. But all this knowledge of EV won’t be useful until you know how to find it and use it to your advantage.
How to Calculate Expected Value in Sports Betting
By the time we are done explaining how to calculate EV, you will realise understanding the formula is much simpler than applying it. The basics of calculating the EV of a bet is to multiply the probability of winning a bet with the expected winning and subtract it from the probability of losing the bet with the amount lost per bet. The formula is represented below.
(Probability of winning) x (Amount won per bet) – (Probability of Losing) x (Amount lost per bet)
It is important to note that not all bets have a positive EV, and such bets are not worth placing a wager on if the main goal is to make money. Also, a positive EV bet does not always guarantee to win, it’s just a measure to increase the chances of winning. Another thing punter who are going to employ the use of EV should know is that low odds bet can have positive EV.
Although this formula takes a while to master, with continuous trial, punters can make it work in the long run. Finally, to make EV more efficient, sports knowledge is needed, this helps to find the real value of each bet as occurrences that influence the outcome of an event cannot be determined by maths only.