BetWasp V2: +EV product update

We appreciate your feedback regarding our Positive EV product. Despite its effectiveness and flexibility, it also had some drawbacks - namely the complexity of configuration and insufficient transparency. Taking all your requests into account, we decided not just to improve the existing product, but to almost completely rebuild it. Meet the new level of Positive EV betting: BetWasp V2

What has changed

The main update: a bet is no longer identified as a +EV bet based exclusively on Avgline odds. In BetWasp V2, a bet is identified as a +EV opportunity through direct comparison with the corresponding odds from the selected Reference Line.

We are introducing the Reference Odds option. In BetWasp V2, you can choose which odds are used as the reference when comparing them with your bookmaker’s odds to identify +EV bets. Currently, three options are available: Avgline (our proprietary market-average no-vig line), Pinnacle (no-vig), and Betfair (no-vig)..

All reference odds are no-vig odds. Identifying a bet as +EV is mathematically possible only when using so-called true probabilities (or true odds). Therefore, even if we consider the odds from, for example, Pinnacle to be accurate enough to serve as a source of truth, we still need to remove the margin to obtain true probabilities from their implied probabilities.

Additionally, we have added the ability to use only those bets as references that have sufficient liquidity on the reference bookmaker’s side (the Minimum liquidity option). The logic here is that the higher the liquidity, the more confident the bookmaker is in those odds, and the stronger they serve as a reference for identifying +EV bets at other bookmakers.

What will happen to BetWasp V1

Please note, BetWasp scanner V1 and BetWasp scanner V2 will coexist for some time. However, we strongly encourage you to switch to V2, as our medium-term plans include phasing out V1.

P.S.: What remains unchanged is our use of Probability Advantage (PA) as the EV %, instead of ROI (as used by other services). We maintain that calculating EV % based on ROI is not reliable enough, because this metric varies in quality across different odds ranges. This can lead to underestimating solid +EV bets and overestimating risky ones. Let us remind you of the formulas:

PA=1/OddsTrue- 1/OddsBookmaker
ROI=OddsBookmaker / OddsTrue-1

and they are both interconnected as follows:

OddsBookmaker=ROI / PA

You can use our EV calculator to see the difference between PA and ROI for different odds values.