NEW ZEALAND
ENGLISH
Casino Terms Glossary
Expected Value — is the long‑run average result of a bet, showing how much you can expect to win or lose per wager after many plays. In casino gambling, EV blends payout odds with probabilities to reveal a bet’s true value, helping players compare slots, table games, and bonus offers realistically.
Understanding Expected Value
In gambling, Expected Value meaning is the net average result a player would realize if the same bet were repeated many times. The standard Expected Value definition sums each outcome times its probability, using net win/loss. EV links directly to house edge and RTP, guiding bankroll sustainability and fair comparisons across games and bonuses. At 101RTP, we provide expert reviews and tools: use the Slot Simulator to enter stake and bankroll, preview session outcomes, and tune strategy; and the Bonus Value Score to find which slots and bet sizes best clear wagering with the highest realistic chance of profit.
Examples of Expected Value
Here are practical examples of Expected Value in casino play:
- Slot with 96% RTP. On a $1 spin, EV is −$0.04 per spin. A high‑volatility slot may swing wildly, but the long‑run average still trends to a four‑cent loss per $1.
- European roulette, even‑money bet. Winning probability 18/37, losing 19/37. EV is about −2.70% of your stake each spin.
- Bonus wagering. A 100% match with 30x wagering can move EV closer to breakeven or positive if you play eligible, high‑RTP games. Game contribution, bet caps and max cashout rules determine whether EV improves or stays negative.
FAQs
What is Expected Value in gambling?
Expected Value (EV) is the long‑run average result of a bet in casino gambling. It tells a player how much they can expect to win or lose per unit wager after many repetitions. Most casino bets have negative EV because of the house edge, so EV guides realistic expectations and bankroll planning.
How do you calculate Expected Value for a casino bet?
Calculate EV by multiplying each possible outcome by its probability and summing those values, using net profit or loss. For slots, a quick shortcut is EV per $1 ≈ RTP minus 1; e.g., 96% RTP implies −0.04. For roulette, combine the chance to win with the payout and losing probability.
Can Expected Value be positive in a casino?
Yes, but rarely on the base game alone. Positive EV can appear with strong promotions, overlays, cashback, loyalty comps, or mispriced odds. When bonuses and rules are favorable, the added value can offset house edge. Still, variance is real, so results can deviate in the short term.
Is Expected Value the same as RTP or house edge?
EV, RTP, and house edge describe the same reality from different angles. Expected Value per $1 = RTP − 1. House edge is simply the negative of EV expressed as a percentage. EV focuses on the player’s average outcome, while house edge frames the casino’s advantage over time.
Do bonuses change Expected Value?
Bonuses can improve EV by adding value, but wagering requirements, game contribution, bet caps, and max‑cashout rules often reduce it. To estimate the true Expected Value, plug the terms into 101RTP’s Bonus Value Score calculator to see which games and stake sizes give you the highest realistic chance to profit.
Why does Expected Value matter for bankroll management?
EV shows your expected loss rate and helps set session length, stakes, and stop‑loss or stop‑win plans. Knowing the Expected Value meaning lets you compare bets and choose slower‑draining options, aligning volatility with your risk tolerance so your bankroll lasts longer and your gambling remains controlled entertainment.
How can I estimate Expected Value for slots I want to play?
Use published RTP, paytables, and long‑run thinking. For a practical preview, try 101RTP’s Slot Simulator (Gaming Session Simulator): enter your stake, bankroll, and a slot to visualize likely session outcomes and volatility. Combine that with our expert reviews to judge whether the EV and risk fit your goals.
About the Author
