How to Use an EV Scanner to Find Profitable Bets

An EV scanner (expected value scanner) is a tool that continuously compares odds across sportsbooks to identify bets where the offered price exceeds the true probability of an outcome. In other words, it finds bets where the math is in your favor. WagerWiz's EV scanner automates this process across dozens of sportsbooks for NFL, NBA, MLB, NHL, college football, college basketball, soccer, and more—delivering +EV opportunities to your screen in real time.

This guide walks you through exactly how to use it, from creating your account to placing your first mathematically profitable bet.

What an EV Scanner Does

Every sportsbook sets its own odds, and those odds don't always agree. An EV scanner exploits these disagreements by:

1. Collecting odds from major sportsbooks (DraftKings, FanDuel, BetMGM, Caesars, ESPN BET, Pinnacle, and others)
2. Calculating fair odds using the sharpest available lines (typically Pinnacle's no-vig line) as a reference
3. Comparing each sportsbook's odds against the fair odds
4. Flagging bets where a sportsbook's odds imply a lower probability than the fair market suggests—these are +EV bets

If the fair probability of an outcome is 45% but DraftKings is offering odds that imply only a 40% chance, that's a +EV bet. Over hundreds of bets at that edge, you'll profit.

Step 1: Sign Up for WagerWiz

Head to thewagerwiz.com and create an account. The free tier gives you access to the odds screener and limited EV scanner results. The paid tier unlocks full EV scanner access with real-time updates, all sports and leagues, advanced filters, and bankroll management tools.

You don't need to connect any sportsbook accounts—WagerWiz reads publicly available odds data and performs the calculations for you.

Step 2: Navigate the EV Scanner Dashboard

After logging in, click EV Scanner in the main navigation. The dashboard displays a table of current +EV opportunities, sorted by EV percentage (highest edge first by default). Each row represents a single bet opportunity at a specific sportsbook.

Here's what the main view looks like:

Step 3: Understand EV% and Edge

The EV% column is the most important number on the scanner. It tells you the expected return per dollar wagered on that bet.

• +2% EV means you'd expect to profit $2 for every $100 wagered, on average, over many repetitions
• +5% EV is a strong edge—professional bettors build entire careers around 2–4% average edges
• +10% EV is rare and usually closes quickly as the sportsbook adjusts its line

The edge is related but expressed differently—it's the raw difference between the sportsbook's implied probability and the fair implied probability. A larger edge generally corresponds to a higher EV%.

Step 4: Use Filters to Find What You Want

The scanner can return dozens or hundreds of results at any given time. Use the filter panel to narrow your view:

• Sport/League: Focus on NFL, NBA, MLB, NHL, NCAAF, NCAAB, soccer leagues (EPL, La Liga, MLS), or others
• Bet Type: Filter by spreads, moneylines, totals (over/under), or player props
• Sportsbook: Show only opportunities at books where you have an account (e.g., only DraftKings and FanDuel)
• Minimum EV%: Set a threshold—many bettors use 1% or 2% as their minimum to filter out marginal opportunities
• Game Time: Filter for games starting within a specific window (e.g., next 6 hours)

A practical starting setup for a new user:

• Select the 3–4 sportsbooks where you have funded accounts
• Set minimum EV% to 2%
• Select the sports you follow and feel comfortable betting on
• Sort by EV% descending

Step 5: Read Confidence Indicators

Not all +EV bets carry the same confidence level. WagerWiz provides context including the number of sharp books agreeing on the fair line, time to game start (closer games have more stable fair odds), and odds freshness (stale odds may no longer be available). A +4% EV bet with sharp consensus and a game starting in an hour is high-confidence; +2% EV for a game three days out is lower confidence.

Step 6: Click Through to Place Bets

Click the sportsbook name or action button to open the relevant book and place the bet. Because odds move quickly, always verify the displayed odds are still available before confirming your wager. Act fast on high-EV bets (+5% or more often corrects within minutes), and double-check unusually large edges (+15% EV) to rule out line errors.

Step 7: Use Bankroll Management for Bet Sizing

One of the biggest mistakes new EV bettors make is flat-betting the same amount on every opportunity regardless of edge size. WagerWiz includes a bankroll management feature that suggests bet sizes based on the Kelly Criterion—a formula that optimizes long-term bankroll growth by sizing bets proportionally to their edge.

To use it:

1. Enter your total bankroll in the settings (e.g., $5,000)
2. Set your Kelly fraction (most bettors use quarter-Kelly or half-Kelly to reduce variance)
3. The scanner will display a recommended bet size next to each opportunity

For example, with a $5,000 bankroll at quarter-Kelly:

Kelly-based sizing ensures you bet more on higher-edge opportunities and less on marginal ones—maximizing growth while protecting your bankroll from ruin.

Step 8: Build a Consistent Routine

The EV scanner works best when used consistently. Check it 2–3 times daily: mornings for early lines, afternoons for movement, and evenings before primetime. Track every bet you place—record the EV% at placement and the closing line to measure CLV over time. Review weekly to assess your average EV%, volume, and trends.

Free vs. Paid Tier Differences

The free tier is a great starting point to see the types of opportunities the scanner surfaces. Upgrading unlocks the speed and depth you need to act on +EV bets before the market corrects.

Tips for Getting the Most Out of the Scanner

• Have accounts at multiple sportsbooks: Prioritize DraftKings, FanDuel, BetMGM, Caesars, and ESPN BET for maximum coverage.
• Don't skip small edges: A +1.5% EV bet adds up significantly over 1,000 bets.
• Watch for correlated opportunities: The same mispricing can appear across multiple bet types for one game—bet them independently for additional volume.
• Respect the math, not your gut: The scanner will sometimes flag bets that feel wrong. Trust the process over individual predictions.

FAQ

How often does the EV scanner update?

WagerWiz's EV scanner updates odds in real time as sportsbooks adjust their lines. High-EV opportunities can appear and disappear within minutes, so checking regularly—or setting up alerts on the paid tier—ensures you don't miss the best bets.

Can I use the EV scanner for player props?

Yes. WagerWiz scans player props across supported sportsbooks in addition to game-level markets like spreads, totals, and moneylines. Player prop markets are often less efficient than main lines, which means they can offer higher and more frequent +EV opportunities.

What's the minimum bankroll needed to start EV betting?

There's no hard minimum, but most bettors find that $500–$1,000 provides enough cushion to ride out variance while placing Kelly-sized bets. Smaller bankrolls work but may require fractional Kelly sizing (quarter or eighth Kelly) to avoid ruin risk during inevitable losing streaks.

Do I need to bet on every +EV opportunity the scanner shows?

No. Most successful users filter for their preferred sports, sportsbooks, and minimum EV thresholds. Betting selectively on higher-confidence, higher-EV opportunities is a perfectly valid strategy—especially when you're starting out and want to build familiarity with the process.

Is EV betting the same as arbitrage betting?

No. Arbitrage guarantees a profit on a single event by betting both sides at different sportsbooks. EV betting identifies bets where the expected value is positive but the outcome of any single bet is still uncertain. EV betting requires a larger sample to realize profits but offers more frequent opportunities and is less likely to trigger sportsbook limits than pure arbitrage.