Betting terms glossary

Terms you see on every bet card

• ●EV Edge — the box on the right of the card. Expected value is what you would gain on average, placing this exact bet at this exact price over and over: +4.0% is four cents per dollar staked, long run. It describes the price, not who wins.
• ●Fair — under the EV: what the bet is genuinely worth. The logo beside it is the sharp sportsbook the fair line came from; (Avg) means an average of several books.
• ●Bet $20 → $38 — suggested stake, then profit if it wins. Cards with a non-positive edge show no stake, because the maths recommends none.
• ●Max $N — only on prediction-market books that publish an order-book limit: the most that book will match right now, not a cap we set.

The coloured pill rates the size of the edge — five rungs, meaning the same thing everywhere the app prints them:

Price and margin

• ●American odds — +150 is the profit on a $100 stake; -150 is the stake needed to profit $100.
• ●Implied probability — the chance a price implies, margin included. -110 implies about 52.4%, which is why both sides of a coin-flip market add to more than 100%.
• ●Vig (vigorish, juice) — that built-in margin, and how a book earns either way.
• ●Devig — stripping that margin back out of a trusted book’s two-sided market to estimate the true probability, which becomes the fair price. Several devig methods run on each market and the least generous answer is kept, so the EV shown is the conservative one.
• ●Sharp vs soft book — sharp books price accurately and move first; soft books follow. Fair prices come from the sharp side; the bets sit at the others.
• ●Line shopping — checking the same bet at every book before you take it. The card’s price row does it for you: compare odds across sportsbooks.
• ●Commission book — an exchange-style book that takes a cut of winnings. Its EV is worked out on fee-adjusted odds while the card shows the posted price, and says so underneath.

Sizing and bankroll

• ●Bankroll — money set aside for betting and nothing else. Yours lives in Settings under My Wager Sizing, a Plus feature; until it is set, sizing uses a placeholder bankroll.
• ●Kelly criterion — the formula turning an edge into a stake. Full Kelly grows fastest in theory and swings brutally in practice, so DawBets stakes a fraction of it. Risk Tolerance — High, Medium or Low — sets that fraction.
• ●Player-prop reduction — prop markets are thinner and less reliable, so any player-prop stake is cut back before it reaches the card.
• ●Wager rounding — snapping stakes to a round dollar step you choose in Settings. Small stakes stay unrounded on purpose: pushing a few dollars up to a full step is a far bigger bet than the maths asked for.
• ●Unit — elsewhere, bets are sized in "units", usually 1% of a bankroll. DawBets sizes in dollars against your bankroll instead, so no card asks you to convert.

Tracking and results

• ●Tracked bet — one you saved with Track, so DawBets grades it into My Bets. Tracking records a bet; it never places one. See how bet tracking works.
• ●Push — a bet that ties and is refunded. My Bets shows it as PUSH, with zero profit either way.
• ●CLV (closing line value) — how your price compares with the last price your own book offered before the market closed. Positive CLV means the market moved toward your bet: evidence you priced it right, win or lose.
• ●Beat close — the My Bets tile for how often you beat the close; the panel underneath shows by how much (Median CLV). Neither number appears until enough bets have been scored for CLV: until then the tile counts down the ones still needed. See what My Bets shows.
• ●ROI — profit divided by everything you staked.

Parlays and boosts

• ●Correlation — when one leg makes another more likely. It is why an SGP price is never just the legs multiplied out, and why that arithmetic gives a fantasy number on a same-game slip. The differences are in parlays, SGPs and SGPx.
• ●Profit boost — a book promotion lifting your profit on one bet by a set percentage. The feed’s Profit Boost control re-prices every card at the book and boost you pick: price, EV, stake and rating recalculated from the fair line. Plus feature — see profit boosts explained.

Where to read more

Longer versions live in the Learn guides: expected value, devigging and the Kelly criterion. Run your own numbers in the EV calculator or the devig calculator.