EV Calculator
A positive expected value (+EV) bet is one where the price you get is better than the true probability of the outcome. This free EV calculator strips the bookmaker's margin — the vig — out of a market to reveal the fair, no-vig odds, then compares them to the odds you can actually bet.
Enter the bookmaker odds for every outcome in a market, then the odds you're getting in the 'Your Odds' column. It devigs the market (logarithmic method) and shows the expected value % for each outcome — your long-run edge.
Enter the odds you placed in "Your Odds" to see EV / value per outcome.
| Outcome | Bookie | True Odds | True % | Your Odds | EV |
|---|---|---|---|---|---|
| Home | 1.850 | 1.899 | 52.67% | — | — |
| Away | 2.050 | 2.113 | 47.33% | — | — |
Serious about your edge?
ProfitBetting tracks every bet's closing line value against Pinnacle automatically — so you know if you're really beating the market, not just guessing.
Frequently asked questions
What is a +EV bet?
A bet whose odds imply a lower probability than the outcome's true probability. Over many bets, backing +EV prices is what makes a bettor profitable — regardless of any single result.
How does devigging work?
Bookmakers add a margin so the implied probabilities of a market sum to more than 100%. Devigging removes that margin to estimate the fair probability of each outcome. This tool uses the logarithmic (Shin-style) method, which handles favourite–longshot bias better than simple normalisation.
Which odds format do I use?
Decimal odds (e.g. 1.90). Use the Odds Converter if you have American or fractional odds.
Does a high EV mean I'll win the bet?
No. EV is a long-run average edge. Any single +EV bet can lose; the edge shows up across a large sample of bets.
Related reading
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<p style="font:13px/1.4 system-ui,sans-serif;margin:8px 0 0">Free <a href="https://profitbetting.io/tools/ev-calculator">EV Calculator</a> by ProfitBetting</p>