word type: acronym

  1. "Expected Value" is the most significant concept used for predicting outcomes in games of chance.

EV Examples

In casino pit games, such as blackjack and craps, the math behind the games dictates that players will lose in the long-term, and so these games are said to have a negative expected value, more commonly expressed as "-EV" or "negative EV."

The EV of poker situations is more complex and difficult to figure out, usually relying on numerous variables and assumptions, but poker players live and die by their ability to make +EV decisions.