Expected Value Calculator
The Expected Value (EV) Calculator helps you estimate the expected value of a bet or investment by considering all possible outcomes and their probabilities. Expected value is a key concept in probability and statistics, representing the average result of an experiment or bet if it were repeated many times. This tool is useful for gamblers, investors, and anyone looking to make informed decisions based on potential risks and rewards.
Expected Value:
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How to Use:
- Enter Outcome Values: Input the monetary value associated with each possible outcome of your bet or investment.
- Enter Outcome Probabilities: Input the probability of each outcome occurring as a percentage.
- Add More Outcomes: Click "Add Another Outcome" to include additional possible outcomes in the calculation.
- Calculate Expected Value: Click "Calculate Expected Value" to determine the average expected result based on all possible outcomes and their probabilities.
Outcome Value:
The monetary value or payoff associated with a particular outcome.
Input Example: If you bet $10 and win $50, the outcome value is 50.
Outcome Probability (%):
The probability or chance of a particular outcome occurring, expressed as a percentage.
Input Example: If there's a 20% chance of winning $50, the probability is 20.
- Enter Outcome Values: Input the monetary value associated with each possible outcome of your bet or investment.
- Enter Outcome Probabilities: Input the probability of each outcome occurring as a percentage.
- Add More Outcomes: Click "Add Another Outcome" to include additional possible outcomes in the calculation.
- Calculate Expected Value: Click "Calculate Expected Value" to determine the average expected result based on all possible outcomes and their probabilities.
Outcome Value:
The monetary value or payoff associated with a particular outcome.
Input Example: If you bet $10 and win $50, the outcome value is 50.
Outcome Probability (%):
The probability or chance of a particular outcome occurring, expressed as a percentage.
Input Example: If there's a 20% chance of winning $50, the probability is 20.