Hold

The share of a market a sportsbook keeps once both sides are priced in — the same idea as the vig, expressed as a percentage of the whole market. A 4.5% hold means the book's prices add up to about 104.5%, so it keeps roughly 4.5 cents of every dollar matched. Lower hold is a better deal for the bettor.

• Vig / Juice — The bookmaker's built-in margin — the reason both sides of a market aren't priced at +100. Strip it from both sides to get the no-vig fair price.
• Fair Price / No-Vig Price — The market price once the bookmaker margin (vig) is stripped from both sides so they sum to 100%. The honest break-even line an edge is measured against.