The Lexicon
12 entries, citation-first
Every entry below is reviewed by an editor with markets-side experience. We update aggressively when industry mechanics change.
Moneyline
/ˈmʌniˌlaɪn/
A straight bet on which side wins, priced as American odds with no spread.
Point Spread
/pɔɪnt sprɛd/
A handicap that levels two unequal sides, quoted in points (or goals, runs, sets).
Totals (Over/Under)
/ˈtoʊtəlz/
A wager on whether combined score finishes over or under a posted number.
Implied Probability
/ɪmˈplaɪd ˌprɒbəˈbɪlɪti/
The win probability that an odds price encodes once the vig is stripped out.
Vig (Juice)
/vɪɡ/
The sportsbook's built-in commission, expressed as the overround above 100%.
Parlay
/ˈpɑːrleɪ/
A single bet that combines multiple legs; all must win for the parlay to pay.
Key Numbers
/kiː ˈnʌmbərz/
Margins of victory that occur disproportionately often in a given sport.
Steam Move
/stiːm muːv/
A rapid, coordinated line movement across many books triggered by sharp money.
Closing Line Value
/ˈkloʊzɪŋ laɪn ˈvæljuː/
The difference between the price you got and the closing line — a proxy for skill.
Push
/pʊʃ/
A bet that ties exactly with the line — stake is returned, no win or loss.
Exotic
/ɪɡˈzɒtɪk/
Any bet outside the main markets — props, alts, futures, same-game parlays.
Arbitrage
/ˈɑːrbɪtrɑːʒ/
Betting both sides at different books to lock in a guaranteed profit.