Sports Betting & Odds Glossary

Clear definitions of the betting and odds concepts behind the MoneyLine API.

• No-Vig Odds

  No-vig odds are betting odds with the sportsbook margin (the vig) removed, expressed as the true implied probabilities that sum to exactly 100%.

• Expected Value (EV)

  Expected value is the average profit or loss a bet would return per unit staked if it could be placed an infinite number of times.

• Arbitrage Betting

  Arbitrage betting is placing bets on every outcome of an event across different sportsbooks so that a profit is locked in regardless of the result.

• Implied Probability

  Implied probability is the chance of an outcome that a set of betting odds represents, converted from the price into a percentage.

• Hit Rate

  Hit rate is the share of recent games in which a player or bet cleared a given line or outcome, usually shown over rolling windows like the last 5, 10, or 25 games.

• Vig (Vigorish)

  The vig is the built-in margin a sportsbook charges on a bet, reflected in odds whose implied probabilities sum to more than 100%.

• Fair Odds

  Fair odds are the prices that reflect an outcome’s true probability with no sportsbook margin applied, so the implied probabilities across the market sum to exactly 100%.

• Line Movement

  Line movement is the change in a bet’s odds or point spread between when a market opens and when an event begins.

• Moneyline

  A moneyline is a bet on which team or player will win an event outright, with no point spread involved.

• Player Prop

  A player prop is a bet on an individual player’s statistical performance in a game rather than on the game’s outcome.