To calculate the expected value (EV) of a Blackjack hand, you need to consider the probabilities of all possible outcomes—such as winning, losing, or tying—and the corresponding payoffs for each. The EV gives you an average value of your bet over time. For example, if you have a hand like a hard 20 and the dealer shows a weak upcard (like a 6), you calculate the probability of winning, losing, or tying based on typical Blackjack strategies. Then, you multiply each outcome's probability by its payout (1:1 for a win, 3:2 for Blackjack, 0 for a tie, and -1 for a loss). Finally, you add up these values to find the EV, which tells you the average amount you can expect to win or lose per bet over the long run. This process can be more complex with advanced strategies like card counting, but at its core, the EV calculation helps you understand the long-term value of your betting decisions in Blackjack.