Average value obtained by weighting possible realizations by their probabilities.
("EV") A way for comparing the values/ cost s of different scenario s, e.g.to rank opportunities and risks. A notional value that is calculated by multiplying the probability of an outcome time s the estimate cost of that outcome. See also Most Likely Value. [D03624] RMW
Expected value is how much you can expect to lose (negative) or win (positive) from a bet. For example the expected value in American double-zero roulette is -5.26%. That means you can expect to lose 5.26% of every dollar you bet.