Expected value is a strong indicator of value when placing a bet. EV does not take anything into account besides the numbers. It tells a bettor the value of a potential wager, plain and simple. If a bet has a +EV, it could be a good value bet. If a bet has a -EV, it could be a poor value. Furthermore, expected value can help new bettors sift through things they already know. EV is typically used by smart money, and new bettors who use it and pay attention to it give themselves a much higher chance to succeed.
Why does expected value matter?
