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Sports Betting terms
Odds, lines, models, props and prediction markets.
Closing line value (CLV) How favorable a bettor's odds were when they placed a bet compared with the market's final odds before the event started. Expected value (EV) The probability-weighted average outcome of a bet or decision, used to judge whether it is favorable over the long run. Implied probability The probability of an outcome derived by converting betting odds, decimal, fractional or American, into a percentage. Line movement How a betting line or odds change over time between when a market opens and when the event begins. Overround The built-in margin a bookmaker adds so a market's implied probabilities add up to more than 100%. Sharp money Wagers from historically accurate, well-informed bettors, which sportsbooks weight more heavily than casual public bets. Tennis Elo rating An Elo rating system adapted to tennis that estimates win probability between any two players from match results.