Terminal Curriculum

The built-in profit margin or "tax" that sportsbooks charge for taking a bet. It is the reason why standard point spreads are priced at -110 on both sides instead of +100. To be profitable long-term, a quantitative bettor must find edges that mathematically exceed the vig.

The conversion of a sportsbook's odds into a percentage. It represents the probability of an outcome occurring as determined by the bookmaker. If Terminal Software calculates that an outcome has a 60% chance of happening, but the sportsbook's implied probability is only 52%, an edge exists.

A risk-free trading strategy. Arbitrage occurs when two competing sportsbooks offer vastly different odds on the same event. By using the Terminal Software Arbitrage Calculator, you can place a carefully sized wager on both sides of the event at different books, guaranteeing a mathematical profit regardless of who wins the game.

The true measure of a profitable bettor. CLV compares the odds you wagered at versus the final odds offered by sharp sportsbooks right before the event begins. If you bet a team at +150 and they close at +120, you generated positive CLV. Consistent positive CLV guarantees long-term profitability, even amid short-term variance.

A mathematical formula used to determine the optimal size of a series of bets. Instead of betting random amounts, the Kelly Criterion factors in your exact mathematical edge (+EV) and the sportsbook's odds to tell you precisely what percentage of your bankroll to wager in order to maximize compound growth while minimizing the risk of ruin.