Terms and Descriptions

Edge

A perceived advantage a bettor may have over a sportsbook.

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Exposure

Also known as liability. Refers to the maximum amount a sportsbook can lose on a single match.

Expected Value (EV)

A type of measurement to gauge expected wins or losses over time.

Exotic

Also known as a prop bet. Refers to any wager other than a straight bet or parlay.

Exacta

A type of bet in horse racing where you pick both the first and second place horses.

Even Money

A wager that gives the bettor back his or her original investment.

European Odds

Also known as decimal odds. European odds display odds in either decimal or fraction form.

Early Cash Out

A special feature on select online sportsbooks where you can take out a certain amount of money before the match is finished.