The basics of +EV betting explained for beginners
Sports betting is becoming more and more popular in the US. It seems like every time you turn on a game or watch a YouTube highlight, you are getting bombarded with ads from any number of sportsbooks. Despite what people may think, it is possible to beat the house mathematically at their own game.
Many people are turning sports betting from a hobby to a legit side-income and even
their career, consistently making multiple thousands of dollars per month. What people
don’t realize is that sports betting is similar to the stock market, and nobody says it’s impossible
to win long term in the stock market! Let’s take a look at how we can use the market to make a profit in sports betting.
What is +EV Betting?
You may have seen the term “+EV” thrown around if you have spent any time looking up
how to bet on sports, and it is the most important phrase that you can learn. So, what does it mean? The EV in +EV stands for expected value, or how much money you can expect to make by placing the bet.
Every single point spread and moneyline you see is basically just a price of how likely the bet is to win. A +100 moneyline means if you bet $100, you get $200 back if you win. This bet is 50/50 odds, while a +150 moneyline is 40/60, but you will get more money if you win, $250.
A +EV bet gives you better odds than they should be, or, increases the expected amount of value a bet has. Let’s look at it this way: if the stock price of Nike is $100 per share, but somebody says, “I’ll give it to you for $75,” you would accept that offer, right? Sure, there is a chance that the stock price will go below $75, but there is a better chance of making money at this price than buying the stock for $100.
How to Start +EV Betting
With tons of sportsbooks popping up in every state, it is easier than ever to find +EV bets. It’s like going on Amazon and looking up a product, then getting a long list to choose from so you know you are getting the best price. The Pistons moneyline might be listed at +130 on DraftKings, but +170 on FanDuel. When this
is the case you can bet the Pistons on FanDuel and increase the amount of expected money you will make simply by shopping around for the best price.
Getting a 100% profit boost is the same thing as getting a buy one get one free at your favorite store. Its a no-brainer!
I gotta say, +EV betting does take a lot of math! The best way to start out is to follow a free picks service like PromoGuy. They will alert you when sportsbooks run profitable promos and odds boosts in order to compete for you, the beloved customer, just like a business would put an item on sale to bring you into the store.