Positive EV is a term used in blackjack that stands for “expected value.” EV is a statistic that is used to calculate the expected value of any given hand.
It’s the mathematical expectation of the sum total of all possible outcomes of a given gamble.
EV can be used to improve your chances of winning at blackjack by helping you to calculate the odds of each possible outcome. Knowing the odds of each combination of cards can help you make better decisions about whether to stay or go.
Positive EV can also be important when playing Double Down Blackjack. In this game, you are allowed to double your bet (put more money into the pot) if you are dealt a two or three of a kind.
The odds of getting two or three of a kind are 1 in 21, so by doubling your bet, you’re essentially betting on 18 out of 21 possible outcomes. By increasing your chances of winning, Positive EV can help you make more money playing Double Down Blackjack.
The final use for Positive EV is in calculating insurance premiums. Insurance companies use EV to determine how much they should charge for coverage.
By knowing your EV, you can calculate how much insurance is needed to protect your losses in case something bad happens.
