Plain-English explanations of the concepts that actually move the needle — expected value, closing line value, arbitrage, the vig, and how to find an edge.
+EV (positive expected value) betting means placing bets whose price is better than the true odd…
Closing line value (CLV) measures whether you bet at a better price than the market's closing li…
Arbitrage betting ("arbing" or a "sure bet") means backing every outcome of a market at differen…
The vig (also called juice or hold) is the margin a sportsbook builds into its odds. It's why th…
No-vig odds are the fair odds you get after removing the sportsbook's margin (vig) from a market…
Implied probability is the win rate that a set of odds represents — the break-even percentage yo…
Betting odds come in three formats — decimal, American (moneyline) and fractional — that all exp…
The Kelly criterion is a formula for the bet size that maximizes long-run bankroll growth given …
Line shopping means comparing the odds across sportsbooks and betting at the best available pric…
Sharp books take large bets and set efficient, low-vig lines; soft books cater to recreational b…
A moneyline bet is the simplest wager in sports: you're just picking which team or player wins, …
Point spread betting (or handicap betting) gives the underdog a head start and the favorite a de…
Totals betting (over/under) is a wager on the combined score of both teams — you bet whether the…
Hedging means placing a bet on the opposite outcome of a wager you already have, to lock in a gu…
Sportsbooks make money mainly from the vig — the margin built into every price — plus by balanci…