Key Terms in Sports Betting: Essential Vocabulary Every Bettor Needs
Understanding the language of sports betting is the first step to making smarter bets.
By
Eric Pauly
Feb 4, 2026
10 min read
Why Knowing Betting Terms Matters
Sports betting has its own language, and not knowing it puts you at a disadvantage. Terms like "vig," "CLV," "handle," and "+EV" are not just jargon. They represent concepts that directly impact your profitability. When you understand what these terms mean and how they connect, you can evaluate your bets more critically, use tools more effectively, and follow expert analysis without getting lost.
This guide covers the most important terms in sports betting, organized by category. Whether you are brand new or have been betting for a while, having a clear understanding of these terms sharpens your decision-making. For a more structured learning path, our beginner sports betting course walks through these concepts in depth.
article Summary
The most essential sports betting terms fall into four categories: basic bet types (spread, moneyline, total, props), odds and pricing (vig, juice, odds format), strategy concepts (expected value, closing line value, bankroll management), and market mechanics (handle, sharp action, line movement). Understanding these terms is the foundation for using betting tools and following expert analysis.
Basic Bet Types
Spread
The spread (also called the point spread) is a handicap applied to the favored team. If the Chiefs are -3.5, they must win by 4 or more points for a spread bet to pay out. If the Bills are +3.5, they can lose by up to 3 points and the spread bet still wins. The spread is the most popular bet type in football and basketball. Understanding the line in sports betting explained in full context helps you see how the spread connects to the rest of the market.
Moneyline
A moneyline bet is simply picking which team wins the game. No point spread is involved. The odds reflect each team's probability of winning: a -200 favorite means you risk $200 to win $100, while a +180 underdog means you risk $100 to win $180. Moneylines are the primary bet type in baseball and hockey, where scoring margins are smaller and spreads are less common.
Total (Over/Under)
The total is the combined score of both teams. You bet whether the actual combined score will be over or under the number set by the sportsbook. A total of 48.5 in an NFL game means you are predicting whether the two teams will combine for more or fewer than 48.5 points. Totals are available for full games, halves, and quarters.
Player Props
Player props are bets on individual player performance: passing yards, rebounds, strikeouts, receptions, and dozens of other categories. Props are one of the fastest-growing bet types because they let you focus on specific players rather than entire game outcomes. They are also generally less efficiently priced than game lines, which creates opportunities for bettors who use player prop research tools to find value.
Odds, Pricing, and the Vig
American Odds
American odds use plus and minus signs. A minus number (like -110) means you risk that amount to win $100. A plus number (like +150) means you win that amount on a $100 bet. The bigger the minus number, the bigger the favorite. The bigger the plus number, the bigger the underdog. Most U.S. sportsbooks default to American odds, though you can typically switch to decimal or fractional format in the settings.
Vig (Juice)
The vig (short for vigorish, also called juice) is the sportsbook's commission on every bet. When both sides of a spread are -110, the sportsbook is charging approximately 4.5% in margin. If you win, you get $100 for your $110 risk. If you lose, the sportsbook keeps your $110. The vig is the primary way sportsbooks make money, and reducing it through line shopping directly improves your profitability. Even small juice differences (like betting at -108 instead of -110) compound over hundreds of bets.
No-Vig or Fair Odds
No-vig odds (also called true odds or fair odds) represent the actual implied probability of an outcome without the sportsbook's margin. If a sportsbook offers -110 on both sides, the no-vig price would be +100 (50/50). Knowing the no-vig price helps you evaluate whether a bet has positive expected value. Tools like OddsJam ($199.99/month) calculate no-vig odds automatically across sportsbooks.
Strategy and Analysis Terms
Expected Value (EV)
Expected value is the average amount you expect to win or lose per bet over time. A +EV bet has a positive expected value, meaning the odds offered are better than the true probability of the outcome. A -EV bet means the sportsbook's odds give them the edge. Elite bettors focus exclusively on making +EV bets because math guarantees that a large sample of +EV bets will produce profit over time. Our guide on EV in sports betting breaks this concept down further.
Closing Line Value (CLV)
CLV measures the difference between the odds you bet at and the odds when the market closes (right before the game starts). If you bet a team at -3 and the line closes at -3.5, you got positive CLV because you got a better number than the final market price. CLV is considered the most reliable indicator of betting skill because the closing line represents the market's most accurate assessment of probability.
Unit
A unit is a standardized bet size, typically 1% to 3% of your total bankroll. Instead of saying "I bet $50," a bettor might say "I bet 2 units," which scales to their bankroll size. Using units makes it easier to compare performance across bettors with different bankroll sizes and helps enforce disciplined bet sizing. Understanding what a unit in sports betting explained means is fundamental to bankroll management.
Bankroll Management
Bankroll management is the practice of sizing your bets relative to your total betting funds. Proper bankroll management protects you from going broke during inevitable losing streaks. Most professionals recommend risking no more than 1 to 3% of your bankroll on any single bet. Without bankroll management, even a skilled bettor can go broke through bad luck on a few oversize bets.
Market Mechanics Terms
Handle
Handle is the total amount of money wagered on a particular game, market, or sport. When you hear "the Super Bowl generated $200 million in handle," it means $200 million was bet across all sportsbooks on that game. Handle is the industry's primary metric for measuring market size and is distinct from revenue, which is the sportsbook's profit after paying out winning bets.
Sharp vs. Public Action
Sharp action comes from professional bettors with winning track records. Public action comes from recreational bettors. Sportsbooks treat these differently when managing their risk. Sharp money moves lines because sportsbooks respect the predictive accuracy of professional bettors. Public money has less impact on line movement because recreational bettors are generally not as accurate. Tracking where sharp money flows is one of the most valuable signals for identifying value.
Line Movement
Line movement is the change in odds or point spreads from the opening line to the closing line. Lines move for several reasons: sharp action on one side, new information (like injuries), or imbalanced public betting. Understanding why a line moved can tell you whether the move represents genuine new information or just public overreaction. The best sports betting tools track line movement in real time and some highlight when sharp action is driving the move.
Steam Move
A steam move is a sudden, significant line movement that happens simultaneously across multiple sportsbooks. This usually indicates that sharp bettors or betting syndicates have placed large wagers. Steam moves are one of the strongest signals in sports betting because they represent coordinated action from the market's most informed participants.
Final Thoughts
Knowing the language of sports betting is not just about sounding knowledgeable. Every term on this list represents a concept that affects your bottom line. The vig determines how much you pay to bet. Expected value determines whether a bet is worth making. CLV tells you if you are actually good at this. Line movement reveals what the smartest money in the market thinks. Learn these terms, understand how they connect, and you will make sharper decisions every time you open a sportsbook app.
Sports Betting Terms FAQ
Additional Resources
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