What's the difference between "my love" and "my lover"?

'Lover' implies a sexual relationship. 'Love' does not, at least not necessarily.

You could call your lover your love with no problems arising. But if your love is, say, your child, you wouldn't want to call your love your lover!

A lover is someone who you sleep with and makes love to you.

A lover can be the love of your life, but very often the rapport is one of lust and passion and the relationship will eventually fizzle out. You can have an affair with a lover but never with your husband or wife. You may even decide to live with your lover, but once married you will no longer feel comfortable calling your spouse my lover and instead choose to call them "my wife", "my husband" or even "my love" as a term of endearment.

Often the word lovers is used when talking about an extra marital affair between two adulterers. Somehow the expression is more forgiving and many will opt to call themselves that. It is true that the expression "my lover" has a more exciting, thrilling edge to it than "my love".

To mention my love conjures feelings and sentiments of romanticism, affection, tenderness and love. The words "my love" have been the source of romantic love songs and poems since time immemorial and express a level of commitment which my lover does not. It tells the outside world that your relationship is one based on trust, honesty and that you share deep emotional feelings for one another. You do not necessarily have to have slept with someone before calling them "my love". On the other hand, a lover is always someone whom you sleep with and needn't love.

In absence of context information, my best response would be:

My love - Someone whom the person speaking loves

My lover - Someone who loves the speaking person

:p