There is no be-all-end-all formula that will always bring you success.
However, EV can change your approach to sports betting.
Sportsbooks will not offer even money on these bets as there would be no house edge.
This is basically an invisible fee that the house applies to confirm it turns a profit.
Implied Probability
The implied probability is a percentage that indicates the likelihood that your bet will win.
The percentage is calculated by the odds of the bet.
So in this case, we can say that there is a negative expected value.
Avoiding this bet will increase your chances of wins in the long run.
In sports, the winning and losing % are unknown variables.
However, this does not mean that expected value cannot be used in sports.
Basically, you will be looking for the most favourable odds for a bet that you think can win.
How Much to Stake?
You try not to think about how much you want to win when staking a bet.
This can lead to reckless decisions like betting on a heavy underdog or betting big on an over-rated team.
If you lose your bet, it will become all the more frustrating.
For example, be wary of favourites that have an IP of over 75%.
Placing a bet on them will require a large amount of money to create a profit.
This is not good either.
For example, SofaScore displays both the odds and the % of either team winning in a game.
This is related to how many games the team has won when they have had similar odds.
Sports apps that show numerous betting odds from different sportsbooks are also highly useful.
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