Skip to content Understanding EV Strategy and Arbitrage Betting for Punters
When it comes to sports betting, punters are always on the lookout for strategies that can help them maximize their profits. Two popular approaches in this regard are EV strategy and arbitrage betting. In this article, we will explore what these strategies entail and how they can be used effectively by punters.
EV Strategy
EV, short for Expected Value, is a concept that is widely used in the field of gambling and sports betting. It refers to the average amount of money a punter can expect to win or lose on a bet over the long run. By calculating the expected value of a bet, punters can make informed decisions about whether a particular wager is worth placing.
To calculate the EV of a bet, punters need to consider two factors: the probability of winning and the potential payout. Let’s say you are considering a bet with a 50% chance of winning and a potential payout of $200. In this case, the expected value of the bet can be calculated as follows:
EV = (Probability of Winning * Potential Payout) – (Probability of Losing * Amount Wagered)
Using the example above, the EV of the bet would be:
EV = (0.5 * $200) – (0.5 * Amount Wagered)
If the calculated EV is positive, it indicates that the bet has a positive expected value and is potentially profitable. On the other hand, a negative EV suggests that the bet is likely to result in a loss over time.
Arbitrage Betting
Arbitrage betting, also known as arbing, is a strategy that involves placing bets on all possible outcomes of a sporting event to guarantee a profit, regardless of the outcome. This strategy takes advantage of discrepancies in odds offered by different bookmakers.
The basic principle behind arbitrage betting is to find situations where the combined odds of all possible outcomes are less than 1. By placing proportionate bets on each outcome, punters can ensure a profit regardless of which outcome occurs.
For example, let’s say Bookmaker A offers odds of 2.0 for Team A to win, while Bookmaker B offers odds of 2.2 for Team B to win. By placing $100 on Team A with Bookmaker A and $91 on Team B with Bookmaker B, punters can guarantee a profit of $9, regardless of which team wins.
Using EV Strategy and Arbitrage Betting Together
While EV strategy and arbitrage betting are distinct approaches, they can be used together to enhance a punter’s chances of making profitable bets. By calculating the EV of each individual bet and looking for opportunities where the EV is positive, punters can identify potential arbitrage opportunities.
However, it’s important to note that arbitrage opportunities are relatively rare and may require significant effort in terms of research and monitoring odds across multiple bookmakers. Additionally, bookmakers are also aware of arbitrage betting and may limit or close the accounts of punters who consistently engage in arbing.
In conclusion, EV strategy and arbitrage betting are two valuable tools in a punter’s arsenal. By understanding the concept of expected value and using it to evaluate bets, punters can make more informed decisions. Additionally, by identifying and capitalizing on arbitrage opportunities, punters can potentially generate consistent profits. However, it’s crucial to exercise caution and be aware of the risks and limitations associated with these strategies.
