Expected Value (EV) Calculator - OddsCalculator.xyz

Calculate the long-term profitability of a lottery or bet.

Enter Bet Details

Prize Tiers

How to Use

  1. Enter the cost of a single ticket or bet.
  2. (Optional) Enter the tax rate on winnings if applicable.
  3. For each prize tier, enter the prize amount and the odds (1 in X). Use the "Add Prize Tier" button for more.
  4. Click "Calculate EV" to see the expected value of your ticket.

FAQs

A negative Expected Value (e.g., -€1.50) means that on average, you can expect to lose that amount for every ticket you buy. While you might win occasionally, in the long run, the bet is mathematically unprofitable.

It's rare, but possible. If a jackpot rolls over to an extremely large amount, the EV can temporarily become positive, especially for lower-tier prizes. However, this often ignores factors like split jackpots.

Key Terms

Expected Value (EV): The average outcome of an event if it were repeated infinitely. It's calculated by multiplying each possible outcome by its probability and summing the results.

Probability: The likelihood of a specific outcome occurring, often expressed as a fraction or percentage.