What is EV & how does it affect your bankroll?
Lesson description
Experienced blackjack and poker players mention expected value (EV) often, but what does it mean? Mr Blackjack shows how EV can be crucial towards measuring your long-term performance.
What this lesson covers
- What expected value is
- How this metric works
- How EV can help you make smarter decisions in blackjack
Episodes
FAQs
Does expected value measure my short-term results?
The decisions you make in the short term contribute towards your expected value, however this metric focuses on the long-term results of your decision-making.
How do I find my expected value?
Multiply the probability of an event happening by the number of times the event happens.
Do casinos use expected value in blackjack?
Yes, casinos use expected value to determine how much money they will make off of players in the long run depending on the blackjack odds of the game.
Do any casino games have a positive expected value for players?
Casinos design their games to have a negative expected value for players. There are ways in some skill-based casino games though where players can reverse this. In blackjack, applying perfect basic strategy and card counting can give you a 1% edge over the casino and subsequent positive expected value.
What casino games will give me the best odds of winning?
Look for casino games that require some skill, like blackjack, poker, or craps. These games have some skill or strategy you can use to increase your chances of winning. Our blackjack odds guide shows which games have the best and worst odds for players.
Is expected value the same as mean then?
Expected value measures the average you expect to appear before you collect any data, and is applied to probability. Mean calculates the average of a collected sample of data.
What games have the most positive expected value for casinos?
Casino games based on luck and high volatility, like slots, give casinos the highest positive value.
