Exchanges
Arbitrage
Backing every outcome of an event at different bookmakers when their prices add up to less than one hundred percent, so one bet always wins more than the others lose.
Also called Arb, Sure bet
- Watch out
- There is no such thing as a sure bet: a price can be voided as an error, and bookmakers quickly limit accounts that arb.
Related
Odds & margin
Vig
The bookmaker’s built-in edge. Add up the implied chances of every outcome: anything above one hundred percent is their margin. Lower is better for you.
Odds & margin
Implied probability
The chance a price suggests. For decimal odds, divide one by the odds.
Slang
Limited
When a bookmaker caps the stakes you can place or removes you from offers, often after you win or take mostly promotions.
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