Reference
Sports Betting Glossary
Master the language of value betting. Every term you need to find edges, calculate expected value, and beat the bookmaker long-term.
Value Betting Placing bets where the true probability exceeds the bookmaker's implied probability. → Expected Value (EV) The average outcome of a bet if placed infinitely many times. → Devig Removing the bookmaker's margin to find fair odds. → Kelly Criterion Optimal bankroll staking formula to maximize long-term growth. → Vig / Juice The bookmaker's built-in commission on every market. → Closing Line Value (CLV) Beating the final pre-event odds — the gold standard for long-term profitability. → Sharp Bookmaker A bookmaker that accepts professional bettors and sets accurate lines. → Soft Bookmaker A bookmaker with weaker lines and lower limits for sharp bettors. → Steam Move A rapid line movement triggered by sharp money across multiple books. → Arbitrage Betting Cover all outcomes across books to lock in guaranteed profit. → Hedging Place an opposing bet on an open position to lock in profit. → Line Shopping Compare odds across bookmakers and always take the best price. → Middling Bet both sides of a moving line so a result in between wins both. → Scalping Lock small profit from short-term odds movement on exchanges. → Player Props Wagers on individual player stats — the softest book markets. → Futures Long-term bets resolved at season end — championship, MVP, etc. → Parlay Combine multiple bets into one — all legs must win. → Teaser Adjust spreads/totals in your favor across multi-leg bets. → Implied Probability Convert betting odds to a percentage chance — the basis of EV. → Moneyline (H2H) Pick the outright winner — the simplest bet type. → Totals (Over/Under) Bet whether combined points/goals will be over or under a line. → Alternate Lines Secondary spreads/totals at adjusted odds — often softer than main lines. → Anytime Goalscorer Soccer player prop — bet pays if your player scores any goal in 90 min. → Bankroll Management Sizing bets to survive variance and maximize long-term growth. →