Quick reference for the sports betting terms that appear most often in research, conversation, and analytics tools.
The Most Important Terms
Vig / Juice: The sportsbook's fee on every bet. At -110, the vig is 4.55% of the amount wagered. This is the mathematical hurdle you must overcome to profit long-term.
Spread / Point Spread: The handicap given to the favorite to create a more balanced betting market. The favorite must win by more than the spread; the underdog can lose by less.
Moneyline: A straight-up bet on who wins. Favorites at negative prices, underdogs at positive.
Total (Over/Under): Betting on whether combined score will exceed or fall short of a set number.
ATS (Against the Spread): Whether a bet (or team's historical results) covered the point spread.
CLV (Closing Line Value): The difference between your bet price and the final pre-game price. Positive CLV indicates you got a better number than the market's final consensus.
Expected Value (EV): The average mathematical outcome of a bet over many repetitions. Positive EV bets are worth making; negative EV bets should be avoided.
No-Vig Odds: Odds with the sportsbook's margin removed. Reveals the true implied probability the market assigns to each outcome.
Sharp / Sharp Money: Professional bettors who consistently win. Their action moves lines more than recreational bettors despite fewer bets because their wagers are larger and better-calibrated.
Handle: The total amount of money wagered on a game or event.
Opening Line: The first odds posted on a game. Closes through the betting period as action comes in.
Line Movement / Steam: Changes in the odds from opening to close. Rapid movement (steam) typically reflects sharp action.
Unit: A standardized bet size, usually 1-2% of bankroll. Bet tracking and analysis is most useful in units rather than dollars.
ROI: Return on investment — net profit divided by total wagered. The most honest measure of betting performance.
[See all these metrics tracked automatically in Oddible →]
