▸ Signal Labs · Learn
The betting & analytics glossary
Plain-English definitions of the terms that actually matter — expected value, closing line value, de-vigging, units, Kelly, park factors, DFS leverage and more. Every entry leads with a clear definition and, where it fits, a worked example straight from our own public ledger.
▸ 25 terms
Start here
These pages are written to be genuinely useful, not padded. Each opens with a 50–70 word definition, then goes a level deeper, and grounds the idea in real numbers from our settled record where it helps. New terms are added regularly.
Expected value (EV)
The average long-run profit of a bet — the number behind every good decision.
De-vig (no-vig probability)
Stripping the book's margin out of a line to see the true probability.
The vig (juice)
The commission baked into every price — the hurdle before profit.
Unit (bet sizing)
The bankroll-neutral bet-size measure that makes records comparable.
ROI vs yield
Two ways to measure profit per dollar risked — and which to trust.
Kelly criterion
The bankroll formula that sizes bets by edge — and why to bet a fraction of it.
Closing line
The sharpest price of the day, and the benchmark that matters.
Closing line value (CLV)
Variance vs edge
Telling real skill from luck — with our own honest example.
Bankroll management
Sizing bets so variance can't ruin you.
Moneyline
A bet on who wins outright, and how to read + and − prices.
Point spread
The handicap that levels a game — covering, pushes, and the hook.
Over/under (total)
Betting combined scoring above or below a set number.
Prop bet
Wagers on a single in-game event — where modeling can find value.
Futures bet
Long-horizon bets, and finding value via model-vs-market.
Steam move
A fast, market-wide line jump driven by sharp money.
Middling
Betting both sides at different numbers to win the gap.
Arbitrage (arbing)
Betting all outcomes for a guaranteed — if tiny — profit.
Hedging
Betting against your own position to lock profit or cut risk.
Correlated parlay
When parlay legs are linked and the independence math breaks.
Park factor
How much a ballpark inflates or suppresses scoring — Coors to Oracle.
Pace
The speed of play that quietly drives scoring totals.
DFS ownership
The share of lineups on a player — the core of tournament strategy.
Leverage (DFS)
The gap between a DFS player's value and his ownership.
Stacking (DFS)
Rostering correlated players to multiply tournament upside.
Signal Labs is an independent sports-analytics service for entertainment and informational purposes only — not a sportsbook and not gambling advice. Signal Labs does not accept or place wagers. Must be 21+. Past model performance does not guarantee future results. Problem gambling help: 1-800-GAMBLER · 1-800-522-4700 · ncpgambling.org