Summary
This article will give an example from our +EV tool, walk through this example in detail, and provide some pro tips on how to effectively +EV bet. For a quick explanation of the concept of positive expected value, see our article on Positive Expected Value Betting (+EV)
A Video Explanation of the +EV Tool
Don't feel like reading an article? Watch Alex, cofounder of OddsJam, walk through the concept of +EV and the OddsJam tools!
The +EV Tool in Action
Below we have an example +EV bet - in this case, it's for Ryan Mountcastle Over 1.5 Hits at FanDuel. How should we assess this bet?
Based on the "No-Vig Odds" column, which is OddsJam's calculation of the "true" odds of a bet to win based on all available data points across the market, we can see the "true" odds of this bet is +153.69 (or 39.42%).
However, we're getting +175 odds from FanDuel on this bet (36.36%). Clearly, this bet is in our favor and is +EV. We're getting the payout of a +175 bet for the probability of a +153.69 bet!
Let's click into this bet to learn more about what books are offering what odds.
In the image above, we can see FanDuel's +175 odds for the Over bet are far better than anything else on the market. For instance, Draftkings is offering +135 for this same bet. Therefore, it's likely a good bet that we should feel good about taking.