FAQ
What is Optimal Bets?
Optimal Bets uses proprietary algorithms to calculate the expected value for Player Props, O/Us, Spreads, and Moneylines.
What is EV?
EV, short for expected value, is the most vital mathematical concept in sports betting. When we say that something is +EV it means the bet is expected to be profitable in the long run. Whereas a bet that is -EV is expected to lose money in the long run. For example, for every $1 you put in a slot machine, you should expect to receive $0.97 in the long run. A -EV bet. Optimal Bets identifies bets the model considers to be +EV. Optimal Bets displays expected values relative to 100. Expected values greater than 100 are +EV and expected values less than 100 are -EV. For example, if Optimal Bets displays an EV of 150, it means for every $100 bet you should expect to receive $150 in the long run.
What is win percentage?
The Optimal Bets models calculate the percent chance that a specific bet will win. A crucial variable in the calculation of expected value. If you bet $1000 on an even money bet, those odds correspond to 50% win probability. If you win 50% of the time you will break even. If your bet actually has a 65% chance of winning, then you have a +EV bet. This doesn't mean you'll always win. 35% of the time you'll lose and 65% of the time you'll win. But if you theoretically were able to place that bet 1,000,000 times you should have close to 650k wins and 350k losses.
What are betting units?
A unit is whatever your standard bet is. Optimal Bets uses 1% of your bankroll to generalize a unit. For example, if your bankroll is $1000, a 5 unit (5u) bet would be $50. The 5 unit bet is denoted in the app as "5u".
How do I read odds?
Optimal Bets displays American odds. American odds tell you how much your return will be based around $100. +X odds means an initial bet of $100 will return the specified odds amount. -X odds tell you how much you will need to wager in order to have a return of $100. For example, if the odds read +150, a wager of $100 will return $150, as well as the original wager of $100. If the odds read -180, a wager of $180 will return $100, as well as the original wager of $180.
Am I guaranteed to win if I use Optimal Bets?
No. Optimal Bets is not responsible for any decisions made, financial or otherwise, based on information provided by this application. Optimal Bets cannot guarantee the correctness of the information contained within our application.
