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Rotation Number – Rotation Numbers are a shorthand used by sportsbooks to refer to a side or team in a game. They are standardized throughout North American sportsbooks and casinos. Also, the rotation number allows each book to list the games in similar order and format. It keeps all of the games that are posted each day and throughout the week organized. That makes it easy for the bettor and the book, particularly in noisy casinos, to efficiently place a bet.
Spread/Puckline/Runline – Spreads are the number of points/goals/runs to add or subtract from the final score to determine if the bet is won. Spreads help give the bettor a different look at the odds and encourage betting on longshot teams or lower the chalk on big favorites. here are videos/articles explaining Spreads, Runline and Puckline.
Implied Probability – Implied Probability is best explained as odds of any type converted to percent likelihood. It can give the bettor a general idea the chance of the outcome occurring. There is an important caveat: Implied Probability always contains the sportsbooks edge, sometimes called their profit. Implied Probabilities for a single match always add up to more than 100%. The extra percent is the edge, as explained below. Here is a good article on Implied Probability and a useful Implied Probability Calculator.
Sportsbook Edge – Edge represents the percent advantage that the sportsbook has over the bettor. A lower Sportsbook Edge is always better for gamblers. The best way to think about it, is that if you flip coins but the person you are playing against has a 2.5% advantage you are going to lose to them over time. If that percentage is 4.75% you are going to lose much sooner.
Totals or Over/Under – Totals betting is not specific to a particular team. The sportsbook sets the total number of points it expects to be scored in any given match and bettors choose to bet that the score is going to be over or under this mark. The most common over/under market is total combined points for both teams, but sometimes can be a total points scored for a single team or side. Here is a video/article that explains Over Under or Totals Betting