Sports Betting Glossary

The world of sports betting comes with many terms and words that you may have heard. If you’re new to gambling and sports betting, some of these will seem strange. However, if you’re a seasoned sports bettor, you probably know many of these already. If you’re new to the world of sports betting, then this Sports Betting Glossary is for you.

A

Action: Any amount of money you have on a sports betting event.

Alternate Lines: Odds that are higher or lower than the main lines that have been posted. If the point total is set at 46.5 then an alternate line is any other number such as 45 or 48.

Arbitrage: A style of betting where both sides of an event are covered. These occur when you find varying odds from book to book. Some sportsbooks may ban you from their website if you are a frequent arbitrage bettor.

ATS (Against The Spread): These odds are meant to give equal action to both sides of a game. The favored team has a negative number, such as -6.5 points ATS. This means that the favored team will win by 6.5 or more points. The underdog team would have a positive number such as 6.5 in this case.

B

Bad Beat: When a bet is lost without much time left in a game. This can happen from a last-second basket or a garbage-time field goal.

Bankroll: The amount of money currently in your sports betting account. Your bankroll increases and decreases as you win or lose bets.

C

Chalk: This is another term for the favorite team.

Cover: Any bet where the favorite wins and the score is greater than the initial point spread. For example, if the Rams are -6.5 favorites and they win by 7 or more points, they cover against the spread. If the Bengals are +6.5 underdogs and lose by just three points, they cover the spread.

D

E

Exotic Bets: These are proposition bets that aren’t tied to the outcome of a game or event. An example of this might be how long the National Anthem during the Super Bowl will last.

F

Fade: Avoiding someone else’s bet.

Favorite: The team that is favored to win a matchup.

Future Bet: Bets on future sporting events such as betting on next year’s World Series Champions.

G

H

Handicap: Odds that are set to make the playing field fairer.

Hedge: Betting the opposite side of your original wage to guarantee yourself a return. If you think your initial bet might end up losing, you’d bet on the other team to reduce the risk of a losing bet. Essentially risk management.

Hook: The extra half-point added to totals or spreads. This makes sure that the bet will not be a push and that either side wins or loses.

I

J

Juice: Also now as vigorish or “vig”, the juice is the cut that a sportsbook receives of a bet. It can vary from book to book.

K

L

Line: The betting odds that have been determined by a sportsbook.

Live Betting: Betting on a game during the actual event. The number of live bets can vary from book to book, some offering more live betting options than others.

M

Moneyline: Straight-up betting. Simply picking who the winner will be. The favorite teams are represented with a number such as -150, while the underdog teams have odds such as +150.

N

O

Odds: The lines set by bookmakers.

Odds Shopping: Browsing different sportsbooks to find the best odds on an event that you can find. Some sportsbooks may offer -120 odds, while another has the same odds at -100. This is just finding the best odds out there to maximize your winnings.

Over: The point total is higher than the initially implied total. For example, if the Lakers game had a point total of 228, the final combined score of the two teams would be 229 or less.

Over/Under: The number posted for how many points, will be scored in a game. This is the combined total of both teams’ final points.

P

Parlay: Multiple bets put together to make one single bet. Every single leg would need to hit for you to win. These bets often times offer larger payouts. High risk/high reward.

Player Prop Bets: A specific type of proposition bet that has become more popular recently. These aren’t directly tied to the outcome of games but are specific player stat lines. An example would be betting on the over/under of Tom Brady’s passing yards.

Prop Bet: Prop bets, aka proposition bets, are bets that aren’t directly tied to the outcome of an event.

Push: When a wager results in a tie. Original wagers are returned and nobody wins.

Q

R

S

Sharp: Another name for a professional sports gambler.

Sprinkle: When you’re betting a small amount on a wager or event. Typically you’ll hear this term when someone is referring to player prop bets. For example, if someone thinks Steph Curry is going to make a bunch of 3-pointers, they might say to “sprinkle” some money on Curry scoring 5 or 6 3-pointers.

Steam: Odds that change quickly due to a large amount of money being wagered on a particular side.

T

Teaser: A line that has been moved up or down by a bookmaker to make the bet seem more appealing to bettors. You can “tease” the odds of a game by betting on alternate lines. Some sportsbooks offer different lines or offer options of “teasing” the odds up or down a certain amount of points, with the odds changing as the lines change.

Tail: Following someone else’s bet.

Ticket: The receipt from your placed bets.

Tilt: Poor decision-making, oftentimes out of frustration.

U

Underdog: The team that is expected to lose. Typically these teams have odds such as +100, meaning a $100 bet would win you $200.

Under: The point total is lower than the initially implied total. For example, if the Lakers game had a point total of 228, the final score of the two teams would be 227 or less.

Unit: A measurement of any given bet. If you place more units on a bet, you essentially have more confidence in them. You might see someone bet 0.5 Units or 0.25 Units, meaning this is a much bigger gamble, but often has a bigger return. A bet with 5 Units would be one you’re much more confident in as a “safe” bet. If you’re new to gambling, 1 Unit to you might mean $1 or $5. More experienced bettors might use $50 as 1 Unit. Determining what 1 Unit is for you can help you manage and build up your bankroll.

V

Vegas Line: The spread, money line, or total of an event. Vegas decides these odds to determine the most likely outcome of a game.

Vigorish: Another term for juice.

W

Wager: Any bet that has been placed.

X

Y

Z

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