Sports Betting Glossary
Betting has existed for years and so has sports betting. In this article, you will find a sports betting glossary so before you start betting, bookmark our sports betting dictionary that will enable you to quickly make wiser decisions.
Sports Betting Terminology / Gambling Jargon for Beginners
Here is a list of common sportsbook terminology.
A
Accumulator
It refers to a parlay bet in North America. It involves four or more selections into a single wager that is profited only when all parts win. The most common accumulator is four-fold and five four accumulators.
Action
It is referred to as the total number of bets being placed on a certain event. And even if the pitching changes, your bets remain the same.
Added Game
A game not a part of the typical menu and are generally added after the main list is posted. It is common in college football. Added game is also referred to a postponed match or an event due to rain.
AET Odds
After Extra Time odds are majorly common in soccer matches. These types of odds are offered in live betting options.
Also Ran
A horse or an athlete that fails to finish the race in a paying position (mainly first, second and third).
Ante-post Betting
In horse or greyhound racing betting, a bet is placed before the horse/greyhound racing course’s betting market is opened.
Arbitrage
Arbitrage or ARB is referred to as wagering where all the possible outcomes of a single game are covered. Surebets, Miraclebets, Surewins or Arbs are widely popular names for arbitrage.
Asian Handicap
This type of bet is common in football in which teams are handicapped according to their form, so the stronger teams must win by more goals.
ATS (Against the Spread)
ATS odds are designed to create equal actions on both sides. Bettors must have a choice between their favorite and underdog.
Across the Board
It is a method in horse wagering to win, place and show.
Alternate Lines
Lots of betting sites give you different ways to bet on how much a team will win by, or the total score, and the odds change depending on how likely they think it'll happen.
American Odds
Also known as Moneyline or U.S. Odds, it is a method of displaying odds and having (+) or (-) before the odds.
B
Bad Beat
This phrase is used to describe an action at the end of the event when a bettor who always wins loses a bet.
Book
Short term for bookmaker or sportsbook who posts odds and accepts the bets from the punters.
Buck
A buck bet is equivalent to $100.
Backdoor Cover
This betting term is used to allow an underdog to cover the point spread.
Beard
A person who is betting someone else’s money so that the person can conceal his identity from the bookmakers.
Bookmaker/Bookie
Bookie is mainly used as a short form for bookmakers. Although it refers to a person but can be an organization who accepts bets and pays off the wagers.
Buying Points
A betting strategy allowing punters to adjust the totals or point spread in their favor (buying points by manipulating the line to increase chances of winning bets).
Bankroll
Bankroll is the total amount of money one keeps aside for betting.
Bet
Any wager that is used in betting including betting on sports, casino, poker, and many others.
Betting Exchange
A betting exchange is the same as a bookmaker that allows customers to place bets but with a few differences.
Betting Unit
A betting unit is generally 1% of the bettor’s bankroll.
Bonus
A bonus bet is a token money, generally a dollar value that gamblers can use to place bets of their choice.
Betting Strategies
Strategies that are formed to cover any losses in betting. One of the common strategies is the Martingale Strategy.
C
Chalk
Chalk refers to the favorite side of the betting, generally a strong and heavy favorite bet.
Cover
Cover refers to the situation when a gambler wins by more than the point spread.
Chalk Bettor
Bettors who like to bet big favorite and strong bets.
Circled Game
A game where the betting limits are lowered due to injuries.
Closing Line
It refers to the final betting line offered by the sportsbook.
Commission
Commission is the amount of money bookmakers take on any bet.
Consensus
It is the number of wagers placed at a sportsbook on one team.
Correct Score
Correct score betting is the accurate bet on the match gamblers need to place.
Cashout
Many sportsbooks offer this option, allowing bettors to receive a payout before their bet concludes.
D
Decimal Odds
Decimal odds are common in Europe and payout is equal to the odd multiplied into the decimal odds.
Dime
A $1000 bet.
Dog
Dog is short for underdog and refers to the team that is most likely to lose a match.
Dead Heat
A tie situation between two horses in a horse race.
Double Bet
An amount that is double of the bettor’s wager.
Draw
This allows the bettors to bet at the end to get rid of the tie/draw condition.
Drift
A money line that keeps on shifting during the match is called drifting.
Double Result
A bet on the game's score at halftime and at the final whistle.
Double Header
Two games played consecutively on the same day.
Double Action
Also called an "If bet," automatically uses the money from a winning first bet to place a second bet.
E
Each Way
Basically two separate bets; one for the horse to win and the other for the horse to finish in a position.
Edge
It is an added advantage a betting gambler can make by simply doing extensive research on the game they are betting on and knowing the higher probabilities.
Exotic Bet
Exotic bets are more common in horse racing betting when a bettor places a bet on more than one outcome.
Even Money
Odds that return you the exact amount of original bet.
Early Cash Out
Early cash out gives gamblers or punters the option to buy the bets hours before the match begins.
Exposure
Amount of money that a bookmaker may lose in a match or an event.
Exacta
A bet that is made on two horses to finish in the first and second position.
F
Favourite
The side of betting that is more likely to win the match.
Future
Odds that are posted well before the match on the winning team.
Fixed
It is a term used interchangeably with moneyline odds.
First Half Bet
A bet that is placed in the first half of the game.
Flat Betting
It is a strategy where the gambler wage on the same amount of money on every game.
Fractional Odds
Fractional odds are common in the UK. And is generally represented by fraction.
Fade
To wager against a specific team, player, handicapper, or the general betting public.
First/Last/Anytime Scorer
These are three types of prop bets available before many games.
G
Grade/Graded Bet
A bet officially marked as won, lost, or pushed by bookmakers after an event ends. Winnings or refunds are then paid.
Game Total Bet
Over/Under betting on the total goals/points/runs scored in a game.
Grand Salami
Bookmakers provide Over/Under odds for the total combined score (goals, runs, points) of all games within a specific league on a single day.
H
Half Time Bet
It is a type of betting that is usually done after the first half of the game.
Handle
This term usually refers to the total amount of money wagered on a match over a specific period of time.
HaIf Bet
A bet placed in the second half of the game including any overtime periods.
Hold
The percentage of money a house wins.
Handicap
A betting type where a bookmaker turns the sporting event by giving advantages and disadvantages to the competitors to make the odds even.
Handicapper
A person who studies and rates sporting events and matches.
Hedging
It is placing wagers on the opposite so as to have a minimum amount.
Hook
It is referred to as a half point (0.5). When a team is favored by 9.5 points, this is expressed as "laying nine and a hook."
High Roller
A gambler who wagers large sums of money.
Hit Rate
The percentage of times an athlete goes over a prop bet total, or a bettor's win percentage.
Half Ball Handicap
In soccer betting, the point spread is 0.5 goals, either added to or subtracted from a team's score.
Holding Your Own
A bettor on a streak of neither winning nor losing, breaking even over several bets.
I
In-play Betting
Also known as live betting or live wagering. This betting usually takes place after the event has been started.
If Bet
A type of parlay with two or more bets. If the first bet wins, the winnings are used as the stake for the next bet.
J
Joint Favorite
When two or more sides are posted with the same betting odds on the same event.
Juice
Juice or “vigorish” is the amount a bookmaker earns a profit. Bookmakers usually earn $10K profit from the juice on the losing bets.
L
Limit
The maximum amount accepted by the sportsbook or bookmaker.
Long Shot
Also known as underdog, where the prices are displayed as positive.
Lock
It is also known as a large favorite.
Layoff
Layoff is a condition where bookmakers reduce their exposure and minimize their risk by placing bets with other bookmakers.
Lines
Where betting is handicapped to make both betting outcomes even.
Line Maker
Someone or a company that sets the betting odds and prices each day, like a bookie.
Listed Pitchers
These are the pitchers named with the betting odds. If a listed pitcher doesn't start a game, bets on that game are usually canceled, and money is returned.
Live Betting
Another term for in-play betting.
Laying Points
This refers to placing a wager on the team or individual considered most likely to win an event.
M
Middle
To wager on the underdog at one point spread and favorite at another point spread in order to win the both sides of the game.
Martingale System
It is a form of strategy in sports betting.
Matched Bet
To profit from the free bets and incentives offered by the bookmakers.
Move the line
In a point spread game, a player pays an additional price to receive half a point or more in his favor.
Moneyline
A bet where odds replace the point spread. Favorites must win, and underdogs must win outright.
Multiple Bets
Also known as parlays, are single wagers with two or more selections. All selections must win or push for the bet to pay out.
Mush
A bettor or gambler believed to bring bad luck.
N
Nickel
Nickel is wager of $500
No Action
In this wager, no money is won or lost.
Nickel Line
A line in sports wagering where the vagorish is 5 percent.
Nap
A handicapper's top daily betting recommendation, similar to a "lock”.
Novelty Bets
These are prop and special bets that go beyond the usual moneyline, point spread, and game totals. Common examples include team and player propositions.
O
Off the Board
A game in which the bookmaker is not making action at that time and is often displayed on the boards without the odds attached.
Opening Line
The earliest line over which only selected individuals are offered to place bet into.
Over
The combined score must be more than the bookie set.
Odds
Odds are the betting lines that are set by the sportsbook.
Odds Formats
There are three main odds formats: American, Decimal and Fractional.
Odds Shopping
To view the lines on different sportsbooks.
Outright Betting
It is predicting the overall winner of the tournament.
Oddsmaker
Someone or a company that sets the daily betting odds and prices, similar to a bookie or linemaker.
Odds-on Favorite
A team or player considered highly likely to win, resulting in low payout odds.
Odds Boost
A promotion from a sportsbook that increases the payout on a specific bet.
P
Parlay
A single bet that consists of two or more wagers in it. In order to win the bet, the punter must win all the wagers in it.
Pick’em
A situation in which neither team is favored. Or where the odds are exactly the same for both the teams.
Point Spread
Margin set by the bookmakers to attract bets on both underdog and the favorite.
Power Ranking
It is a system in which teams are judged on different criteria thus arranging them from best to worst.
Press
To put a larger amount on stake than usual.
Puppy
The underdog
Prop (Proposition)
A bet that is not directly related to the results of the game.
Puck Line
It is used in hockey, a spread same as moneyline.
Parlay Banker
The favorite selection in a parlay bet, onto which other selections are added.
Push
A betting outcome where the result exactly matches the point spread or total, leading to all wagers being refunded.
Payout
The winnings a bettor receives when their wager is successful.
Post Time
The scheduled start time of any race.
Proxy
Someone who places bets for other people.
Q
Quarter Bet
A bet placed before or during any quarter of a sporting event.
R
Runline
It is used in baseball, a spread used instead of moneyline
Runner
A person who places bets for another.
Run Down
Run down refers to all the lines for a specific sport, date, time, etc.
Round Robin
A series of one or more teams.
Recreational Bettor
A player that bets occasionally or infrequently.
Rotation Number
Numbers assigned by the bookmakers for each team to avoid confusion during multiple listings.
S
Sell Points
It is more of selling spreads to receive favorite odds.
Special
Special bets are added to a competition other than moneyline.
Sportsbook
A sportsbook or bookmaker is a platform where odds are offered and bets are accepted.
Spread
Taking or laying point while betting in a competition.
Square
A professional player who uses resources to determine wagers.
Steam
Is a move in the sports betting market due to heavy betting.
Straight Up
Winning a game without any point spread.
Straight Bet
n individual wager on a game determined by a point spread.
Store
A bookie.
Scouts
Also known as “sports player” is a person who waits and thinks before he places any wagers.
Sides
The two teams playing, the favorite and the underdog.
Same-game Parlay
A parlay that combines multiple bets from the same sporting event.
Second Half Bet
A bet on what happens in the second half of a game. You can bet before it starts or while it's happening live.
Sharp Bettors
Professional sports gamblers who use extensive resources for their betting decisions.
Stake
The amount of money a bettor risks on a bet.
Syndicate
A group of bettors who combine money and knowledge to bet on events.
T
Take the Points
Betting the underdog and taking advantage of it in the point spread.
Take the Price
It is betting the underdog and accepts the money odds.
Totals
Combined score of both the teams.
Touts
Someone who sells his expertise on sports betting.
Teaser
Line that is moved up or down by the bookmakers to tease the bettors.
Tie
Where neither team wins or the match draws.
Ticket
A receipt issued by the sportsbook to confirm the wager placed.
Tip
A betting advice offered by tipsters or handicappers to suggest the most likely outcome.
Tipster
A person who gives tips.
Three-way Odds
Wagering options that have three sides.
Two-way Odds
Wagering options that have two sides.
Teaser Card
A daily list of games for a specific sport with adjusted odds (higher or lower) compared to the main betting board. These bets require selecting at least two outcomes.
U
Under
The combined score must be less than the bookie set.
Underdog
The side of betting that is more likely to lose.
Unit
A consistent amount of money a bettor wagers on each bet to track their betting size and results.
V
Value
Highest possible odds on a wagering proposition.
Vig/Vigorish
Another term for juice.
W
Wager
Placed bet on any event offered by a sportsbook.
Welch
To refuse payment of money laid as a bet.
Wiseguy
A person who is a professional handicapper
Wire-to-wire
It is a term used for a player who maintains the lead in the entire match or event.
Win Total
A bet on whether a team will win more or fewer games than a set number during the season.
Need to Understand Sports Betting Terms Explained
- A sports betting glossary is essential for understanding betting terms and making informed decisions.
- Familiarity with terminology enhances betting skills.
- Betting involves various types and odds, and prior knowledge is beneficial.
- These terms are common across different forms of betting, including esports and fantasy sports.
- Successful sports betting requires planning and strategy, which is aided by understanding the terminology.
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Resources
- https://help.us.williamhill.com/en-us/house-rules/rules-for-all-sports-bets/glossary-of-sports-betting-terminology
- https://www.si.com/gambling/2020/05/13/sports-betting-terms-definitions-gambling
- https://www.thelines.com/betting/terms/
- https://www.actionnetwork.com/how-to-bet-on-sports/general/sports-betting-terms
- http://www.donbest.com/customers/sports-betting-terminology/
- https://www.vsin.com/betting-resources/betting-terms/
- https://www.espn.in/espn/betting/story/_/id/38897025/sports-betting-glossary-odds-lines-spreads-futures-more
