Expected Value for NHL - Am I doing this right?

Fat Polamalu

Alright smart folks. Tell me if I'm doing something wrong here.

Tonight's NHL Matchup.

ANA +107 --> converts to ANA 2.07
DAL -116 --> converts to DAL 1.86

I believe there is a 50.25% chance that Anaheim wins, and there is a 33.28% chance that Dallas wins.

So..

ANA 2.07 x .5025 = 1.040175
DAL 1.86 x .3328 = 0.619008

Anything over 1.00 is positive EV (and a bigger edge) while anything below 1.00 is negative EV (and a smaller edge?).

Is that right? Educate me.

High3rEl3m3nt

50.25% chance Anaheim wins
33.28% chance Dallas wins.

What happens the other 16.47% of the time? Is this a regulation bet?

High3rEl3m3nt

EV = (Probability of Winning * Amount to Win) – (Probability of Losing * Amount Wagered) (Saturdayedge, 2013).