No, money/bets discrepancy describes who the big action bettors like, but that doesn't always correspond to who is sharp. It CAN mean that, but it can also mean that the high rollers just prefer one team over the other.
Sharp money is something tracked by various services which watch the action of known sharp bettors (there's various ways this can be done), and report back.
There are various positive indicators you look for when placing a spread/moneyline bet:
- General sharp action on your side
- Known sharp bettors stating publicly that the side they like is also your side
- The money wagered being a higher percentage on your side than percentage of bets placed
- Reverse line movement -- when the line goes the opposite way you'd expect based upon the amount of action on one side
If you have all four of these, it's usually a great pick.