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using the oddsjam line shopping tool and positive ev betting tool, we were able to find this bet at +150 on fanduel.
why is expected value important to bettors?
so, for every time it was heads you would have profited a total of $4,500 (50 * $90), and for the 50 times it was tails you would have lost a total of $5,000 (50 * 100) leaving you with a net loss of $500.
luckily, oddsjam has an expected value calculator that can do this for you.
now, let's see what it would look like with the weighted coin example.
(60% * $90) * (40% * 100) = 14%.
so, this would be a positive expected value bet of 14%, or a 14% expected profit margin.
sportsbooks are going to charge a vig on every bet, so when you calculate the implied probability associated with those odds, it is important to do so with the vig removed.
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