Advanced Sports Betting Terminology : Big Words for Big Bettors

After familiarizing the ins and outs of the beginning levels of sports betting and some of the processes around it, there comes a time to level up. Basic concepts and terms are essential for a strong foundation in trying to become a successful bettor over time, but as in life, there will be always more to learn.

Below are some terms and concepts that may go beyond what customers can see, hear, or strategize upon after their first few trips to the sportsbook.

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Advanced Sports Betting Terms

Closing Line Value (CLV):

This is the difference between the point spread or odds at the time a wager is placed, and the point spread or odds at the time the game begins.

If a customer consistently beats the closing line, they are said to have positive CLV. This term shows signs of a good process if the customer is constantly placing wagers on lines that are better than the line as the event begins.

Steam Move:

A steam move refers to a sudden, significant shift in the point spread or odds that is often caused by large bets from professional bettors. This sudden shift can indicate that these bettors have identified an edge or advantage in the game or event and are all betting on the same side.

For example, the point spread for an NFL game between the New England Patriots and the Buffalo Bills opens at Patriots -3.5.

However, over the course of a few hours, a significant amount of money starts coming in on the Bills, causing the point spread to drop to Patriots -1.5. This sudden shift could indicate a steam move from professional bettors who have identified value in betting on the Bills at the original spread.

Reverse Line Movement:

Reverse line movement occurs when the point spread or odds move in the opposite direction of the majority of bets placed on a game. This often indicates sharp or professional money being placed on the underdog. Reverse line movement can be a great indication of which way to bet on a game.

If the line on a game moves toward the public, and not against in a direction that looks to even out the money, go against the public. The logic behind this is that sportsbooks are looking to capitalize on a game they feel very strongly about.

SGP and Correlated Parlays:

The pricing per prop within a same game parlay is different compared to solo event props because correlated events have a higher chance of happening based on the results of the game and the performance of certain players.

Sportsbook operators place a higher vig on props within a same game parlay, which sacrifices the expected value on a wager compared to a wager with the same odds, but in three different events. Stacking three or more correlated events within the same game is one strategy to build same game parlays.

Middle:

This occurs when a customer places a bet on both sides of a game and have an opportunity to win both bets. An example would be if the customer wagers on the New York Giants at +10.5 and the San Francisco 49ers at -7.5, the customer wins both bets if the 49ers win by 8-10 points.

Betting Exchange:

A type of sportsbook where bettors wager against one another rather than against a bookmaker. The exchange takes a commission on bets in this format.

Contrarian Betting:

The act of betting against the consensus opinion on a sporting event, specifically against the thoughts of the betting public and mainstream sports media.

Cash Out:

An option at most digital sportsbook operators, the cash out option allows bettors to redeem a percentage of their winnings before a game has concluded depending on how likely the bet appears to be to win at that point in the game.

Reduced Juice:

Some sportsbooks offer reduced juice, where their standard spread and totals markets see a lower vig than those markets at other sportsbooks. This is usually used as a promotional vehicle for an event.

Martingale System:

The Martingale System is a system of bankroll management where a bettor follows up a losing bet with an even bigger bet, until they eventually win and turn a profit.

Arbitrage Betting:

Arbitrage Betting is a betting strategy that involves placing multiple bets on different outcomes to guarantee a profit regardless of the outcome.

Arbitrage Betting Example: Sportsbook A has the Cincinnati Bengals vs. Cleveland Browns at Bengals +110, and Sportsbooks B has the Bengals vs. Browns at Browns +105, the bettor would place a bet on both the Bengals at +110 and the Browns at +105. There will be a profit regardless of who wins because both selections have (+) odds.

Because these cases have small margins, it takes a lot of money to make this process 'worth it' to an individual bettor. This is also frowned upon behavior by sportsbooks, so this can get customers limited or possibly even banned.

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