Sports Betting Glossary
Below are some common terms in sports betting:
- Moneyline
- A bet on which team or player will win the game outright, expressed as a price (e.g., -120 or +150).
- Point Spread
- A bet that handicaps one team by a number of points. You bet on whether a favorite covers the spread or an underdog stays within it.
- Totals (Over/Under)
- A bet on whether the combined score of both teams goes over or under a set number.
- Implied Probability
- The probability of an outcome implied by the odds. You can convert American odds to implied probability to compare with your own estimates.
- Edge
- The difference between your estimated probability and the implied probability. A positive edge means you expect value.
- Closing Line Value (CLV)
- The difference between the odds you bet and the closing odds. Positive CLV indicates you beat the market.
- Units
- A standardized bet size used to manage bankroll risk consistently.