Expected Value Calculator

Compute the EV and house edge of any bet

Calculator

Define Your Bet

Set your wager, then define each possible outcome with its probability and net payout (positive for winnings, negative for losses).

Outcomes

Reference

Common Bets — House Edge

How much the casino takes, on average, per dollar wagered.

BetHouse Edge
Blackjack (basic strategy, 6-deck)~0.5%
Craps — Pass Line1.41%
Baccarat — Banker1.06%
Craps — Don't Pass1.36%
Roulette — Single Zero2.70%
Roulette — Double Zero5.26%
Caribbean Stud Poker5.22%
Slots (typical)2–15%
Keno25–29%

Frequently Asked Questions

What is expected value (EV)?
Expected value is the average result of a bet if you placed it an infinite number of times. It's calculated by multiplying each outcome's net payout by its probability, then summing. If EV is positive, the bet favors you; if negative, it favors the house.
What is house edge?
House edge is the casino's built-in mathematical advantage, expressed as a percentage of your wager. A 5.26% house edge (double-zero roulette) means for every $100 wagered, the casino expects to keep $5.26 on average.
Can any casino bet have positive EV?
Standard bets are designed to favor the house. However, card counting in blackjack, certain progressive jackpot situations, promotional offers, and video poker with perfect strategy can occasionally produce positive EV. Sports betting can also be positive EV if you find edges the bookmaker missed.
Why should probabilities add up to 100%?
The probabilities of all possible outcomes must sum to 100% because they represent every possible result of the bet. If they don't add up, either an outcome is missing or the probabilities are incorrect. The calculator will flag this for you.
How do I use this for sports betting?
Enter your estimated probability of winning, the payout if you win (your net profit), and the loss if you lose (your stake as a negative number). If the EV is positive, the bet is mathematically favorable at your estimated probability — though your probability estimate may differ from reality.

Free Expected Value & House Edge Calculator

This expected value calculator lets you compute the EV and house edge of any wager by defining custom outcomes. It works for casino bets, sports bets, poker situations, and any probabilistic scenario where you want to know the long-run mathematical expectation.

Understanding Expected Value

Expected value is the cornerstone of gambling mathematics. It tells you exactly how much a bet is worth over time. A bet with an EV of −$2.00 means you'll lose an average of $2 every time you place it. Over 1,000 bets, that's −$2,000 in expected losses.

Finding the Edge

The most important number for any serious gambler is whether the expected value is positive or negative. Positive EV bets make money over time; negative EV bets lose money. Casino games are designed to be negative EV — the tools on this site help you understand by exactly how much.