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. →