The paper evaluates the possible profitability of the provision of Balancing Services (SB) by an Electric Vehicle (EV) through participation in the Italian Balancing Market (MB). First, it simulates the daily charging of an EV in the absence of service provision (benchmarkcharging). Then, the relative annual electricity bill is calculated, assuming that energy is purchased at the Day-Ahead Market (MGP) price. Then, to take advantage of the price differences between MB and MGP, recharging is simulated through power exchanges for SB. The resulting annual electricity bill is compared with the bill already calculated for thebenchmarkcharging. This analysis is applied to certain case studies, which include one-way (V1G) and two-way (V2G) charging, for domestic or non-domestic EV users. In cases of V1G, MB participation is profitable, while in cases of V2G, the increase in SB-related energy exchanges also implies more charges and taxes, thus an increase in the bill. To make V2G charging economically attractive to the end user, a partial exemption is considered from paying charges on the bill, for energy exchanges for SB. For domestic users, the exemption is required for both the energy absorbed from the grid and the energy actually fed into the grid, while for non-domestic users, it is sufficient for the energy absorbed.