Accumulator (Parlay):
A type of bet that combines multiple selections into one wager. All selections must win for the bet to be successful.
Arbitrage (Surebet):
A betting strategy where you place bets on all possible outcomes of an event using different bookmakersâ odds to guarantee a profit regardless of the result.
Arbitrage Calculator:
A tool used to determine the exact amount to stake on each outcome in an arbitrage opportunity to ensure a risk-free profit.
Bankroll:
The total amount of money youâve set aside for betting activities.
Bet Tracking:
The practice of recording your bets including stake, odds, and results to analyze performance and identify strengths and weaknesses.
Bookmaking:
The process by which a bookmaker sets odds, accepts bets, and manages risk.
Bookmaker (Bookie):
A company or individual that offers odds on sporting events and accepts wagers.
Balanced Book:
A situation where a bookmaker has proportionally equal money on all outcomes, ensuring profit from the margin regardless of the result.
CLV (Closing Line Value):
A measure comparing the odds you took versus the closing odds. Beating the closing line is a strong indicator of good betting decisions.
Confidence-Based Sizing:
Adjusting your bet size based on how confident you are in your edge or your assessment of the true odds.
Data-Driven Betting:
An approach to sports betting that relies on data, probabilities, and expected value rather than emotions or guesses.
Drawdown (Max Drawdown):
The largest drop in your bankroll from its highest point to a subsequent low point before it recovers.
Edge:
Your advantage over the bookmaker, usually expressed as a percentage (Expected Value). A positive edge means a profitable opportunity in the long run.
Event:
The specific match or contest youâre betting on (e.g., Real Madrid vs. Manchester City).
EV (Expected Value):
A measure of the average return you can expect from a bet over time. Positive EV means profitable in the long run; negative EV means losses.
EV Simulator:
A tool that runs simulations to visualize bankroll growth and performance based on your edge and strategy.
Kelly Criterion:
A mathematical formula used to determine the optimal amount of your bankroll to wager based on your edge and odds. Helps maximize growth while managing risk.
Kelly Multiplier:
A factor used to scale down the Kelly stake to reduce volatility (e.g., 0.25 Kelly = 25% of the full Kelly stake).
Limits:
The maximum amount a bookmaker allows you to stake on a specific market or outcome.
Line (or Odds Line):
Represents the bookmakerâs view of the probability of an outcome. âSharp linesâ are accurate reflections of true probabilities.
Liquidity:
The total amount of money available in a market. High liquidity markets allow larger bets with minimal odds movement.
Margin (Vig or Juice):
The bookmakerâs built-in profit on a market. Itâs the difference between the total implied probability and 100%.
Market:
A specific category of bets within an event (e.g., Both Teams to Score, Over/Under Goals, Money Line).
Market Limit:
The maximum total amount that can be wagered on a market before the bookmaker adjusts the odds.
Odds (Price):
A number representing the likelihood of an event occurring, used to calculate potential payouts.
Outcome:
The specific result you are betting on (e.g., Team A to win, Over 3.5 goals).
Payout:
The total amount returned on a winning bet (Stake Ă Odds).
Positive Expected Value (Positive EV):
A situation where the proposed odds are greater than the true odds.
Professional Punter:
A bettor who treats betting as an investment and uses data, strategy, and bankroll management to achieve consistent profits.
Sharp Bookmaker:
A bookmaker known for accurate odds, low margins, and high limits (e.g., Pinnacle). Attracts professional bettors.
Simulation:
A computational model used to test betting strategies over a large number of bets to visualize long-term outcomes.
Soft Bookmaker:
A bookmaker with slower-moving odds, higher margins, and lower limits, often aimed at casual bettors (e.g., Stake, SportyBet).
Staking Strategy:
A structured approach to determining how much to bet on each wager, often based on bankroll and confidence.
Stake:
The amount of money you risk on a single bet.
Strategy:
A defined approach or system for selecting bets, managing bankroll, and maximizing profit.
True Probability:
The actual chance of an outcome occurring, expressed as a percentage (1 / True Odds).
Variance:
The level of fluctuation in your betting results. Higher variance = bigger swings in profit/loss.
Vig (Juice or Margin):
The bookmakerâs fee included in the odds ensures they make a profit regardless of the outcome.