Editor’s Note: The article below originally appeared in Berryhorse’s (real name Kieran) free newsletter BetItUp, which you can (and should) subscribe to here to learn more about predictive sports modeling, betting, bankroll management and more. The article is published at Sports Handle with his permission.
It’s very easy to lose money betting on sports. Losing wagers may still provide good entertainment for a few hours, but people wanting to actually make money need discipline and at least a basic understanding of math and probability.
Some bettors consider themselves “Positive EV” or +EV bettors, referring to positive expected value. There’s a bunch of articles on the subject that are too complex, especially for those not mathematically inclined. So if you’re encountering EV principles for the first time or need a refresher, we’re pleased to share what’s below by Mr. Berryhorse, which should be digestible by sports bettors of all levels.