Reference
Every concept the DomVs feed touches — Kelly, EV, CLV, no-vig pricing, devigging, edge, variance, drawdown — explained plainly, with the formulas and worked examples. Bookmark it. Use it.
Plus/minus prices used in US markets. -110 means risk 110 to win 100.
Backing every outcome at different books to lock in a guaranteed profit.
The pool of money set aside exclusively for betting. Never your rent.
The difference between the price you took and the market's closing price — the truest test of an edge.
The process of removing the bookmaker's margin to recover the fair price.
The total return per 1 unit staked, including stake. Standard in Europe and Asia.
The peak-to-trough decline in bankroll during a losing run.
The average profit (or loss) per unit staked if the same bet were repeated infinitely.
How much better your estimated probability is than the market's implied probability.
Staking a fixed fraction (e.g. 0.5×) of full Kelly to reduce variance.
Odds shown as a fraction (e.g. 5/2). Common in UK horse racing.
The price implied by your model probability, with no margin added.
Long-term bets on outcomes weeks or months away — title winners, MVP, etc.
The percentage of bets that win. By itself, it tells you very little.
The bookmaker's expected profit margin on a market.
The probability suggested by a price (before removing the bookmaker's margin).
The mathematically optimal stake size given your edge and the odds — maximises long-run bankroll growth.
Comparing prices across bookmakers to take the best available number.
Wagering on a market while the event is in progress.
The maximum stake a bookmaker will accept on a market.
Betting both sides of a moved line so that one specific result wins both bets.
A bet on which side wins, with no handicap.
The odds with the bookmaker's margin removed — what a fair coin would pay.
A combined bet on multiple events. Pays big, has terrible math, beloved by squares.
A bet that adds or subtracts points to even out an unequal matchup.
A tie against the spread or total — your stake is refunded.
A bet on something other than the final result — player points, first scorer, etc.
The percentage of bets (or money) on each side of a market.
Profit divided by total amount staked, as a percentage.
Risk-adjusted return — how much profit you earn per unit of volatility.
The number of bets needed before a track record is statistically meaningful.
Bets placed by professionals — large, informed, and likely to move the line.
Recreational betting action — typically on favourites, overs, and home teams.
A sudden, sharp line move across multiple sportsbooks at once.
The fraction of the advertised limit a specific customer is allowed to stake.
A bet on whether the combined score lands above or below a posted number.
DomVs's internal label for model conviction. T1 = highest edge.
A standardised stake size, usually 1% of bankroll.
The bookmaker's built-in margin — why two 50/50 outcomes pay less than 2.00.
The natural swings around your true expected value. Bigger edges have smaller swings; longshots have huge ones.
Effectively a synonym for ROI in betting contexts.