Glossary Of Betting Terms

Sports Betting Glossary

 

A

 

• Against the Spread (ATS): Betting on the point spread rather than just picking a team to win outright. This involves betting on a team to either cover or beat the set point spread.

• Arbitrage Betting: A betting strategy where a bettor places wagers on all possible outcomes of an event across different sportsbooks to guarantee a profit.

 

B

 

• Bankroll: The total amount of money a bettor has set aside specifically for betting.

• Beard: A person who places bets for another person to conceal the real identity of the bettor, often used by professional bettors.

• Bookmaker (Book): An individual or company that accepts bets on sporting events and sets odds for each outcome.

 

C

 

• Chalk: The favored team or player in a game, often identified by negative odds.

• Closing Line: The final odds or point spread for a game when betting closes, typically right before the game starts.

• Contrarian Betting: A strategy where a bettor goes against the majority of public bets, often to find value in underdog picks.

 

D

 

• Dime: A slang term for a $1,000 bet.

• Dog: Short for “underdog,” the team or player expected to lose the game, indicated by positive odds.

• Double Chance: A bet that covers two of the three possible outcomes in a game (win, loss, or draw). Common in soccer betting.

 

E

 

• Edge: The advantage a bettor or sportsbook has over the other, often based on research, odds, or insider information.

• Even Money: A bet with odds of +100 (or 1/1), where the bettor stands to win the same amount as they wager.

 

F

 

• Favorite: The team or player expected to win a game or event, typically indicated by negative odds.

• Futures Bet: A long-term bet on an outcome that will be determined in the future, such as betting on a team to win a championship before the season starts.

 

H

 

• Handle: The total amount of money wagered on an event or series of events.

• Hedging: Placing a bet on the opposite outcome of an initial bet to guarantee a profit or minimize a loss.

 

I

 

• Implied Probability: The probability of an outcome based on the odds. Calculated to assess the true likelihood of an outcome relative to the odds offered.

 

J

 

• Juice (Vig): The commission or fee that a sportsbook charges for taking a bet, typically included in the odds.

 

K

 

• Key Numbers: In football betting, certain point spreads (such as 3 or 7 points) that are significant because they represent common winning margins.

 

L

 

• Line Movement: Changes in the odds or point spread for a game due to betting action, new information, or sportsbook adjustments.

• Lock: A slang term for a highly confident bet that a bettor believes is almost guaranteed to win (though it’s worth noting there’s no such thing as a “sure bet” in sports betting).

 

M

 

• Moneyline: A straight-up bet on which team or player will win, regardless of the point spread. Moneyline odds are positive for underdogs and negative for favorites.

• Middle: A betting strategy where a bettor places bets on both sides of a game at different lines, hoping for a result where both bets win.

 

O

 

• Over/Under (Total): A bet on the combined total points or goals scored by both teams in a game, with the bettor predicting if the total will be over or under a set number.

• Outright Bet: A bet on the overall winner of a league, tournament, or competition rather than individual games.

 

P

 

• Parlay: A bet that combines multiple picks into one wager, with a higher payout if all selections win. If any selection loses, the entire parlay loses.

• Pick ‘Em: A game where neither team is favored, meaning the spread is set at zero, and the bettor simply chooses the winner.

• Player Props: Bets on individual player performance, such as points, assists, or touchdowns. These bets are independent of the game’s final result.

• Point Spread: A margin set by sportsbooks to handicap the favored team, requiring them to win by a specific number of points to cover the spread.

• Push: A tie between the bettor and the sportsbook, where the final score or result lands exactly on the spread or total. The bettor’s stake is returned.

 

R

 

• Reverse Line Movement (RLM): When the line moves in the opposite direction of the public betting percentage, often indicating sharp money on the opposite side.

 

S

 

• Sharp Money: Bets placed by professional or experienced bettors. When sportsbooks adjust lines due to sharp money, it often indicates informed betting.

• Spread Betting: Betting on a team to cover a specific point spread rather than simply winning the game.

• Square: A casual or inexperienced bettor, often betting based on intuition or popular opinion rather than research.

 

T

 

• Teaser: A type of parlay bet where the bettor adjusts the point spread in their favor in exchange for a lower payout.

• Ticket: A physical or digital record of a bet placed, often issued by a sportsbook.

• Total: Another term for an over/under bet, where the bettor wagers on the total points or goals scored in a game.

 

U

 

• Underdog (Dog): The team or player expected to lose a game, with odds that reflect a potential higher payout if they win.

• Unit: A standardized amount that represents a percentage of a bettor’s bankroll, typically 1-2%. Using units helps bettors manage bankroll consistently.

 

V

 

• Value: The perceived advantage in odds where the probability of an outcome is greater than what the odds suggest. Value betting involves finding these opportunities.

• Vig (Juice): The commission or fee taken by a sportsbook, often embedded in the odds.

 

W

 

• Wager: Another term for a bet placed on a sporting event.

• Wiseguy: A professional or highly experienced bettor, often with insider knowledge or advanced analytical skills.