Terms and Descriptions

Expected Value (EV)

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

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Exposure

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

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.

Edge

A perceived advantage a bettor may have over a sportsbook.

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.