Formula: Hedge amount = Parlay payout ÷ Decimal odds of opposite side. Guaranteed profit = Payout − Hedge amount − Original stake.
Expected Value (EV) is the single most important concept in sports betting. It answers one question: is this bet mathematically profitable over the long run?
A bet is +EV when the odds you're getting are better than the true probability of the outcome. Sportsbooks build in a margin (called the 'vig' or 'juice') so most bets are actually -EV by default. Capy strips out the vig to find the true probability, then checks whether the best available line across all books beats it.
Example: If the true probability of the Lakers winning is 60%, but FanDuel is offering odds that imply only 55% — you're getting a better price than the market thinks is fair. That's +EV. Bet enough +EV spots and you'll be profitable long term.
The Kelly Criterion takes this further — it tells you exactly how much of your bankroll to risk on each +EV bet to maximize long-term growth without going broke.
EV calculations are estimates based on market-implied probabilities. Past performance does not guarantee future results. Bet responsibly.