How do I value my horse racing?
To calculate the probability of each horse winning the race, I then divide the final figure (FFig) for each horse by the grand total for the race and then multiply the result by 100, which produces the VALUE CALCULATOR percentage chance (VCpc) for each horse.
How do I calculate my bet value?
In general, the value of a bet equals its probability multiplied by its decimal odds minus one. If the value after this calculation is greater than zero, then you have a value bet.
What is the expected value of your bet?
Expected value is a predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence. In betting, the expected value (EV) is the measure of what a bettor can expect to win or lose per bet placed on the same odds time and time again.
What is a value bet horse racing?
In a betting sense, value is essentially about the odds of a wager compared to the actual likelihood of that wager winning. Take, for example, a horse with odds of 10/1 (11.00 in decimal odds, +1000 in moneyline odds). Many people would think 10/1 is great value – after all, you win $100 from a stake of just $10.
What is a value bet?
A value bet is a bet where you expect to have more equity than your opponent. This is a poker strategy skilled players employ to up the value of the pot. A successful value bet gets your opponent to call, usually because they believe the expected value of their hand is stronger.
How are payouts calculated in horse racing?
Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount.
How do you calculate expected value of winnings?
How to compute a mathematical expected value? The calculation of the mathematical expected value is to multiply the probability of winning by the bet multiplier (in case of winning). Expected value is generally calculated for a bet of 1 unit. Multiply the probability to win by the bet value to know the expected gain.
What are value bets?