In matched betting, there are many different ways to form a matched bet, either through ‘Bet X Get X’ Offer or Extra Place offers. Bettors may not know which one to choose. This is why we can use expected value to understand which matched bets we want to use and which bets we can afford to miss. Here, we will discuss what expected value is, how expected value can be calculated, and the role of expected value in matched betting.

Expected Value in Betting

In betting, expected value is a tool we can use to find out how much value we can expect from a particular bet. It is the average outcome of a bet or event after taking into account all possible outcomes and their probabilities. We can use this expected value to see if the betting option is worth betting on and a good investment. This tool is not only used in gambling but also in finance to assess the risk versus reward of certain actions, making it a great tool in matched betting.

Expected value does not mean that we can know which bets will win and lose, but it allows bettors to evaluate whether the risk is worth it when placing a bet. If a bettor uses this tool and finds that the returns are not large enough to take the risk, then this will be a poor value bet and may not be worth placing a bet on.

A positive expected value bet means the bettor can expect to make money from this bet in the long run. A bet with a negative expected value means the bettor will experience losses over a long period of time. Since this is only expected, negative value bets may come back every once in a while, but most of the time, it’s not worth it.

Expected value betting can be used on all types of sports, be it football, rugby, horse racing or cricket. If bettors want to learn more about specific sports betting, check us out football betting guide and ours boxing betting guide.

How to Calculate Expected Value in Betting

To calculate expected value, bettors can multiply each possible outcome of an event by the probability of it occurring and then add up the results. This will give bettors the average return they can expect if they repeat the event many times.

Now, this can be very confusing if the odds of the event occurring are large or complicated. In typical OddsMonkey fashion, we have expected value calculator where bettors simply enter betting details to calculate the expected bet value.

Bettors can use this tool to determine whether certain casino offers and promotions are worth taking part in. This way, users can see whether the promotion is worth it before opting in.

How The Expected Value Links To Matched Betting

In terms of the most suitable betting options, users are advised to make the most of all the offers they see as most of them pose no risk. When bettors can place back bets and lay bets on the same sporting event, this means that whatever the outcome, the bettor will be able to make a profit, making it important for users to take part in this offer. . If you want to learn more about matched betting, check us out matched betting blog. In this type of matched betting opportunity, most bettors will not use expected value in the bet.

However, for more advanced betting opportunities such as extra place offers, bettors cannot lock in profits with these offers and, therefore, need to rely on expected value to see whether the bet is worthwhile or not.

Using different offers with matched betting techniques over a long period of time will result in an overall upward trend in profits when using expected value. While there may be some dips in the trend as these offers do not guarantee profits, it is important to ensure your bankroll can afford this strategy before starting to ensure that in the event of a loss, it does not halt the entire process.

Many matched betting strategies, such as sign-up offers and promotions, will have a positive expected value, whereas placing a bet without a strategy will have a negative expected value.

If users want to learn more about various sign up offers, matched betting strategies and techniques, then OddsMonkey is the place.