Expected Value (EV): This is how much one expects to win from a wager, not the implied odds. (EV) is the measure of what a bettor can expect to win or lose per bet placed on the same odds time and time again. A positive expected value (+EV) implies profit over time, while a negative value (-EV) implies a loss over time.
Vigorish (Vig): Amount Makers Expect to win. The vigorish is the house advantage in betting on odds. Sportsbooks create this to produce a profit. Vig is incorporated into every betting line.
Implied Probability: Means the overall likelihood of a betting outcome in relation to the listed odds.
Bankroll: The amount one sets aside to gamble. It can vary.
Unit: This is the amount one lays for a bet normally. It is normally a percentage of one’s bankroll. Usually, 1 Unit is 1% of the total bankroll. It also shows how many bets one can get out of their bankroll at a consistent Unit size. Some do it where you bet the amount to get one unit.
If the odds were -120 and one wants 1 Unit profit then one would bet 1.2 Units to cover the vigorish. We prefer the percentage of the bankroll approach.
For example, $100 Bankroll $5 (1 Unit) 5% = 20 Bets Total
$100 Bankroll $10 (1 Unit) 10% = 10 Bets Total
We prefer 1% = 1 Unit = 100 Bets Total
For Example $100 Bankroll = $1 Bet (1 Unit) or
$1000 Bankroll = $10 (1 Unit)