EV Calculator — Expected Value for Betting
Calculate expected value (EV), Kelly Criterion stake sizing, and batch scan multiple bets. Free tool for sports bettors and crypto gamblers.
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Betting Glossary
EV, Kelly, edge — all terms explained
EV Calculator FAQ
What is Expected Value (EV) in betting?
Expected Value (EV) measures the average profit or loss you can expect per bet over the long run. A positive EV (+EV) means the bet is profitable over time. The formula is: EV = (Win Probability × Profit) - (Lose Probability × Stake).
What is the Kelly Criterion and how does it work?
The Kelly Criterion is a mathematical formula that determines the optimal percentage of your bankroll to wager. It balances maximizing growth with minimizing risk of ruin. The formula is: f* = (bp - q) / b, where b is the net odds, p is win probability, and q is lose probability.
Should I use Full Kelly or fractional Kelly?
Most professional bettors use Half Kelly (50%) or Quarter Kelly (25%) to reduce variance and the risk of large drawdowns. Full Kelly maximizes theoretical growth but produces very volatile swings in practice.