The Edge/EV Calculator can help you determine your advantage or disadvantage on a given bet. By inputting the probability of a specific outcome (what you're betting on) and the corresponding American odds you're offered on that bet, the calculator returns your projected edge.

Edge = (Probability * Decimal Odds) - 1 Where Probability is your projected probability of the bet winning, and Decimal Odds are the odds you were offered on that bet, in decimal format.

This tool is ideal for those looking to make data-informed decisions, helping you evaluate whether a wager has a favorable expected value based on the odds and your probability estimation. Knowing a bet has an edge is one thing, but quantifying that edge is important too.

Edge and Expected Value (EV) are equivalent when we're expressing EV as a percentage. EV measures average outcomes, and can be written as a percentage, dollar amount, or other value.