EV betting can be one of the most profitable sports betting strategies. However, it isn’t the easiest of entry points for new bettors. With this, we’ve created this guide to help you get more from your EV betting experience.
We begin with a quick breakdown of how EV betting works, including a closer look at how you can calculate +EV bets today. Then, we take some time to work through the ins and outs of the most profitable EV betting strategies, featuring some real-world examples. Make sure you’re ready to take some notes.
What is EV Betting?
First things first, let us break down the basics of EV betting. For any of you who are new here, the idea of EV betting is to find discrepancies in the odds between sportsbooks, calculate the implied probability of winning and then use that information to your advantage. To put this simply, we want to find discrepancies in the odds at a sportsbook, then place a bet based on the true probability of an outcome occurring.
In order to calculate the expected value and find the “true odds”, you’ll want to make note of this formula:
- (implied winning probability % * profit if bet won) – (implied losing probability % * stake)
Any positive result would be considered a
positive EV bet. This means that you could place bets at the same odds over a prolonged period of time and would likely end up with a profit. Naturally, the reverse is true of a negative EV bet.
Of course, it is important to bear in mind that there are no guarantees when it comes to sports betting. So, instead, it is better to view EV betting as an advanced betting strategy that highlights the mathematical likelihood of securing a winning wager.
Evidently, this isn’t a style of betting that will suit all of you. For those who don’t wish to go it alone, you can always make use of the EV betting gurus over at PromoGuy+. This group of professionals scour the latest odds to find the best value, allowing you to make 30% ROI and up to $3,600 each month, based on $10 per point bets.
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- Based on the mathematical outcome
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The most profitable sports betting strategies in May
By now, you should have a pretty good idea of what to expect when it comes to EV betting. However, we now want to expand on this, offering you a closer look at some of the most profitable sports betting strategies in May.
EV Betting
Naturally, we will kick things off with a closer look at EV betting. As already established, EV betting requires you to review the odds set by an online sportsbook and compare them with the “true odds”.
When we discuss examples, you’re always best looking at a coin toss for pure simplicity. This 50/50 chance would give you “true odds” of +100 and the potential of +$0 on a $100 bet. However, at an alternative sportsbook, you may find the odds for a coin to land on tails are set at +110. The EV would then be calculated as (110/100) * 0.5. This would then lead to an average of +$5 per bet or an effective
betting overvalue
of 5% .
Once you’ve broken down the maths of it all, we would suggest reviewing bonus terms, utilizing a top odds comparisons tool, and
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Hedging
We are pretty confident you will have heard of the term ‘hedging your bets’. In sports betting, this refers to covering both potential outcomes of an event, Usually, this will involve placing moneyline bets. This potentially profitable betting strategy relies on you placing an initial wager on a specific team, then placing another bet (at a different sportsbook) on the other team.
As an example, you could start by placing a bet on the Chiefs to beat the Dolphins. Then, when you spot a +EV betting opportunity or a favorable change in the odds, you then capitalize by placing a bet on the Dolphins to beat the Chiefs. Either way, at the end of the 60 minutes, you’ll have a winning wager.
The trick to this strategy is finding opportunities where you will make a profit, regardless of the outcome of the match itself. This could mean waiting until the last minute or getting in early when the betting lines first open.
Matched Betting
If you’ve spent any serious amount of time checking out the most profitable EV betting strategies, then we are certain that you’ve stumbled across matched betting before.
The idea of matched betting is to use the free promotions offered by online sportsbooks to cover all possible outcomes of one particular fixture. As an example, you may pick up one of our
free +EV betting picks for today
that suggests the Lions will beat the Cowboys.
From there, you would scour the market for suitable promotions at two different sportsbooks. You would then register, make a minimum deposit, and release your bonuses. Next you would place one bet on the Lions to secure the win, and a second bet on the Cowboys. Either way, you are then guaranteed to make a profit with only minimal out any initial outlay. Obviously, the downside here is that you’ll likely be expected to play through any bonus wins.
Middling
Next, we have Middling. Again, this sports betting strategy requires you to bet on opposite outcomes of a fixture. However, unlike hedging, you’ll be looking for opportunities based on line movement. In other words, fluctuations between spreads and totals only.
One
common EV betting mistakes
when middling is waiting until too late in the day to place your first bet. The idea is that you’ll want to place a spread or totals wager early doors before too much market movement has occurred. Then, during the game, you’ll find an opportunity to place a second bet on the other side of the ball. Obviously by this time you'll have a much better idea of how the game is playing out.
Bankroll Management
Bankroll management is exactly as it sounds and should be used alongside any betting strategy mentioned, as it solely focuses on the size of each bet you place, compared to the size of your overall bankroll.
Generally, those that implement bankroll management will set a figure aside that they are willing to lose each day. This could be a set amount, but more often it’s a percentage of their total bankroll. As an example, you may opt to lose 5% per day. From a $100 bankroll, this means that you would bet $5 on day one. If you lose and have $95 on day two, you’ll then wager 5% of $95 ($4.75). If you win, then your day two bankroll will have increased, and you’ll bet 5% of the new total.
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Tips and Tricks: How can I be a profitable sports bettor?
Once you’ve decided on a profitable betting strategy that you want to test, you’ll be ready to start looking at the betting markets and placing your bets.
However, we have found a few additional tips and tricks that you can focus on to help boost your overall betting experience.
| Things to consider | Explanation |
| Focus on specifics | Things can start to get overwhelming if you don’t focus your efforts on a specific sport, league, or betting market.
Once you’ve chosen your preferred niche, decide on your strategy, and give it sufficient time to evolve before making any radical changes. |
| Stick to the facts | When it comes to selecting a niche, we suspect you’ll hover around areas that you are familiar with. NFL fans may look at touchdown scorers, for example.
Although this is a great approach, you’ll also want to leave your own views at home. We don’t want the facts getting blurred because one of your favorite running backs is playing. |
| Download the app | Although you won’t find all online sportsbooks offer dedicated apps, you’ll find that some sort of mobile experience can be enjoyed.
Mobile sports betting gives you full access to your account. You can place bets, review any current wagers and deposit or withdraw funds wherever you are. |
| Consider the early cash-out option | There is no shame in cashing out a bet. In fact, this is a strategy used by many experienced bettors.
Some will call it ‘damage control’, but the idea of taking an early cashout is to maximise winnings or reduce losses by accepting a lesser amount. This way, you keep your balance healthy with funds available to look for another opportunity. |
| Track your wins and losses | It should go without saying, but the only way to ensure that you have a successful or failing strategy is to keep track of your betting activity.
You will find that most online sportsbooks provide you with complete access to this information. If not, you can soon start your own spreadsheet, or simply use a notebook to detail every bet and its outcome. |
Getting Started: Becoming a profitable sports bettor begins here
That should just about cover all there is to know about the most profitable EV betting strategies in May. So, all that remains is for us to provide you with a quick step-by-step guide to help get you started.
- Take some time to review several sports betting strategies before deciding on your approach
- Check out our odds comparison tool and latest betting tips
- Read through our sportsbook reviews and make a shortlist of those that suit your preferences
- Click on the banners within those reviews to head on over to the site
- Work your way through the registration process and verify your account
- Make your qualifying deposit and unlock any relevant promotions
- Head to the sport and betting market of your choice, place your bets and watch your strategies unfold
- Review wins and losses, adapt, and make sure you manage your bankroll carefully
Find a profitable sports betting strategy that suits your betting style in May
Although we aren’t going to claim that these strategies will guarantee you wins, we will say that a profitable EV betting strategy can be the backbone of a successful betting experience.
You can implement and utilize profitable EV betting strategies with the help of the experts at
PromoGuy+. Alternatively you could focus your efforts on a different strategy entirely. But whichever you choose, you must let it play out over time, and keep track of your wins and losses to help decide your next move.
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Profitable EV betting strategies FAQ
🤔 Is sports betting profitable?
Although we can’t guarantee you any sports betting wins, we can say that using a strategy will certainly help you to get the most out of the experience. EV betting is a profitable betting strategy when implemented correctly, and uses basic maths to highlight the best wagering opportunities.
📈 How can I be a profitable sports bettor?
When it comes to becoming a profitable sports bettor, you really need to have the right foundations in place. We can’t guarantee you’ll leave with a win, but having a solid strategy, patience, good bankroll management, and an ability to detach emotionally from sports will help.
🏆 Can I win by using EV sports betting strategies?
You can make a profit over time by implementing an EV betting strategy, but only when combined with other strategies such as bankroll management and only signing up with reputable, licensed sportsbooks. Our series of EV betting guides will provide you with enough insights to determine if EV betting is right for you.
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