TVG

TVG, or True Value of Gambling, is a mathematical tool used in horse racing betting to determine the profitability of a wager. It calculates the expected value of a bet by considering the true probability of each possible outcome and the odds offered. If the TVG is positive, the bet is favorable in the long run; if negative, it's not. Essentially, TVG helps bettors assess whether a bet is worth placing based on accurate probability and payout information, promoting more informed and strategic betting decisions.