Key Terms
What Does +EV Betting Mean?
+EV stands for 'positive expected value.' It’s a way of measuring whether a bet is likely to be profitable in the long run. A +EV bet means the odds you’re getting offer better value than the true probability of the outcome — giving you an edge over the bookmaker.
Think of it like buying a $1 coin for 80 cents. Over time, making bets with positive EV is how sharp bettors stay ahead.
EV (Expected Value)
Expected Value is a calculation that shows the average amount you can expect to win or lose per bet over time. Positive EV (+EV) means the bet is in your favor; negative EV (–EV) means it’s against you.
Juice (Vig)
Juice — also called vigorish or 'vig' — is the bookmaker’s commission. It’s built into the odds to ensure the house makes a profit, no matter the outcome
Implied Probability
Implied Probability converts betting odds into a percentage, showing the chance of an outcome according to the bookmaker. It helps you compare the odds to your own predictions.
CLV (Closing Line Value)
Closing Line Value measures how your bet’s odds compare to the final odds before the game starts. Consistently getting better odds than the closing line is a sign of long-term betting success.
