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Find answers to common questions and get helpful information.
Sports betting is more than always placing money on your favorite team. Serious bettors know that you must find an edge over the sportsbooks in order to win over time.
Chariot instantly finds positive value opportunities, arbitrage opportunities, and line movements allows you to track these opportunities over time.
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Chariot does not give betting advice or predict outcomes of games.
Our system works through millions of data points to allow you to make better, informed decisions.
Expected value (EV) in sports betting quantifies the average outcome of a bet if placed repeatedly over time. It is calculated using the formula EV=(P×W)−(Q×L), where P is the probability of winning, W is the winnings, Q is the probability of losing, and L is the loss. A positive EV suggests a potentially profitable bet, while a negative EV indicates a likely loss.
By assessing EV, bettors can make more informed decisions and improve their long-term betting strategy.
Arbitrage in sports betting involves placing multiple bets on all possible outcomes of an event across different bookmakers to guarantee a profit regardless of the result. This strategy exploits discrepancies in odds to create a situation where the combined stakes ensure a positive return.
To identify arbitrage opportunities, bettors need to calculate the implied probabilities from different bookmakers' odds and place their bets accordingly. Successful arbitrage betting requires precise calculation and quick action to capitalize on these odds differences before they adjust.