Betting Terminology

Before we get started if you’re interested in seeing these glossary terms in action feel free to visit these sports betting strategy pages. In these guides, we’ll share our expert tips and tricks for understanding and effectively using these different terms.

Term for the amount of bets placed on a game or sporting event. It can also refer to how bets are settled. For example, 'all action' means every bet will be settled, regardless of outcome. The following is a glossary of poker terms used in the card game of poker.It supplements the glossary of card game terms.Besides the terms listed here, there are thousands of common and uncommon poker slang terms. (Sports betting term) A method of referring to the result of an event that takes the point spread into account. Also, the act of taking points rather than betting with the spread, or 'laying'.

Glossary

Action: This is when you have a bet on a game, match, race, or season.

Against the Spread (ATS): This is a statistic that tells you how well a team does against the spread. If a team has covered the spread (outperformed the sportsbook’s expectations) in five games, you would say they are 5-0 ATS.

Backdoor Cover: This is when you think you’re certain to lose a bet, but something wild happens at the end of the game, getting you to cover the point spread and win your bet.

Bad Beat: This is when you lose a bet that you feel like you should have won. Most likely, you will hear this term when something happens in the game unexpectedly to cause you to lose almost a certain bet. For example, if a team fumbles the ball while kneeling down to win, and the other team scores to make you lose your bet, that’s a bad beat.

Beard: This is someone who places a bet for another person. Sportsbooks will often not take action from very sharp (good) bettors, which forces them to use beards (also known as runners) to place their bets for them.

Book: This is an abbreviated term for sportsbook.

Bookie: This is a person who illegally accepts bets. Basically, it’s someone who operates as their own sportsbook.

Buying Points: This is when a sportsbook allows you to shift a spread by giving up some payout odds. For example, if the point spread is +4, but you want it to be +5, you can do this at some sportsbooks. But since your bet is becoming more likely to win, you won’t be paid out as well.

Chalk: This refers to the favorite in a particular game, match, or race. If you bet on the chalk, you are picking the favorite who is expected to win.

Circle Game: This is a game where the sportsbook has lowered the wagering limits due to injuries, weather, or other conditions that have made things more difficult on the linemakers.

Closing Line: This is what the odds are when the sportsbook stops taking action.

Cover: This is the term used when a team outperforms the spread betting line. For example, if a team is +3 (3-point underdogs), and they end up losing the game by 2 points, it is said that they covered. It does not matter if they win the game or not; they only have to outperform the spread line.

Dime: This is a term for $1,000. If you say that you bet five dimes on a game, you bet $5,000.

Dog: This is an abbreviation for the underdog, the team that is expected to lose. If you bet on the dog, you should expect to get paid better than even money.

Double Bet: This is a wager twice the size of someone’s normal bet. For example, if you normally bet $20 on games, a double bet would be a $40 bet. This is popular when people have a strong prediction on a game or when they’re trying to chase their losses.

Edge: This is an advantage in a bet. When you place a bet that you think has value, you are betting that you have an edge.

Even Money: This is when the odds are 50-50, and you stand to win the exact same amount of money you bet. For example, if you bet $20 at even money, your profit for a correct pick would be $20.

Exposure: This is the amount of money a sportsbook stands to lose on a particular game, match, or race. Sportsbooks manipulate lines to try and limit their exposure as much as possible.

Exotic: This is any other bet outside of a straight bet or a parlay. It is another term for prop bets.

Favorite: This is the team that is expected to win a game, match, or race. If you bet on a favorite, you should expect to get paid out worse than even money.

Fire: This is a slang term for making a bet. You can say that you’re going to “fire on the Cowboys” if you’re going to make a bet on the Cowboys.

First Half Bet: This is a wager that you make only on the first half of the game. The end result of the game does not matter. The only thing that matters is the result after the first half of play.

Fixed: This is the term to refer to a game where someone has cheated. Basically, if the “fix is in,” the game has been set to have a certain outcome. This is what happens during sports betting cheating scandals.

Futures Bet: This is a bet on something that is going to occur in the future and is not going to be determined by just one game. For example, if you bet on the champion, division winner, or tournament winner, that would be a futures bet. The team would have to win multiple games to win this bet.

Getting Down: This is a slang term for making a bet.

Grand Salami: This is the total goals scored by every hockey team in a particular day or runs scored by every baseball team.

Halftime Bet: This is a wager that is made at the halfway mark of a game. Many sportsbooks will offer updated odds on the second half of a game. These lines are not put out until the first half is complete and are reflective of how the first half of play went.

Handicapper: This is someone who bets on sports.

Hedging: This is when you place a wager against yourself on the other side of the contest to lock up profit or minimize your potential loss. Hedges are most popular with futures bets but can be done with in-game betting as well.

High Roller: This is the term given to someone who bets large amounts on games.

Hot Game: This is a game that is taking a lot of action from skilled/sharp sports bettors.

Hook: This is a slang term for a half point on a point spread. For example, if the spread is -3.5, you might say that they are laying three and a hook.

In-Game Betting: This is the ability to bet on a game while it is going on. This has become much more popular with online sports betting thanks to technology.

Juice: This is a term for the commission that the sportsbook is taking on each bet that they take. It can also be used to refer to interest on a loan with a bookie.

Laying the Points: This is when you take the favorite in a point spread bet.

Layoff: This is the money bet by a sportsbook with another sportsbook to cover an imbalance in action.

Limit: This is the maximum that a sportsbook will allow you to bet on a particular sporting event. This is not a per-bet limit. For example, if the limit on a game is $5,000, the most you can bet on that game is $5,000. You can’t make multiple $5,000 bets, as it’s not a per-bet limit but a total limit.

Lines: This is another term for the odds. If you say you are going to check the lines, you are looking for the odds or spreads that are put out by the sportsbook.

Line Shopping: This is a term for comparing the lines at multiple sportsbooks to find the best odds possible. It is very common for different sportsbooks to have different odds on the exact same bet due to the action that they are receiving from their customer base. This is a must-do for serious sports bettors who care about their profits.

Lock: This is a term given to a sports bet that is said to be a sure thing. Contrary to popular belief, there are no such things as sure things in sports betting.

Longshot: This is a term for the team or contestant that has very little chance of winning a particular contest. This term is very popular in racing where you have multiple people or animals vying for a win.

Middle: This is when a sports bettor attempts to take advantage of a line movement to potentially win two sides of a bet. For example, let’s say that a team is +3 to win a bet. If that line moves to +5, they sports bettor can bet the other team. Now, if the game ends with the first team losing by exactly 4 points, the sports bettor will win both bets. If it goes one way or the other, the sports bettor will break close to even minus the juice on the bet.

Moneyline: This is a sports bet where you only need your team to win the game to win. It does not matter by how many points or in what manner they win.

Mush: This is a slang term given to a sports bettor who is bad luck.

Nickel: This is a slang term that means $500. If you say that you bet a nickel on a game, you bet $500.

Oddsmaker: This is a person who works for the sportsbook and sets the lines on the games.

Off the Board: This is when a bet is taken down, and the sportsbook is no longer taking action on it.

Over/Under Bet: This is a wager on either side of a totals number. For example, if the sportsbook thinks 45 points will be scored in a game, you can bet if there will be over that many points or under that many points. If you are correct, you win your over/under bet (sometimes referred to as a totals bet).

Parlay: This is when you link two or more individual bets together into one single wager. You must win all of your individual bets for you to win your parlay. One incorrect selection means you lose the entire ticket. Parlays pay out a high win amount for a smaller monetary investment.

Pick ‘Em: This is a game with no favorite or underdog. Basically, the sportsbook is saying that each team has an equal chance to win the game. The point spread is zero points.

Pleaser: This is when you wager several games (in a parlay-style format), except all of the point spreads are shifted by usually 6, 6.5, or 7 points in the sportsbook’s favor. So, if a team is usually -3, they are now -9 on your ticket. These are used in situations where you see several lines that are extremely off. As you might expect, pleasers pay out extremely well but are very tough to win.

Point Spread: This is the number of points that the sportsbook determines a particular team will either win or lose the game by.

Press: This is a term that means to bet more than you usually do. Usually, bettors press when they are on a good run and looking to capitalize or when they are losing and looking to find a way to get even.

Proposition Bet: This is a bet (sometimes known as a special or exotic) that involves betting on whether or not something proposed will happen during a sporting contest. For example, betting on what the coin toss will be or if a certain player will score the first touchdown are prop bets. These are sometimes offered on events and sometimes not depending on where and what you are betting. The most popular prop bet event is the Super Bowl.

Push: This is a fancy word for a tie. If you push your sports bet, your money is returned to you.

Runner: This is someone who makes bets on behalf of someone else. Sharp sports bettors often have their action refused, so they have to use runners to make their bets for them.

Sharp: This is the term given to a sports bettor who is very good and knows how to win. Your ideal goal in sports betting should be to become a sharp.

Spread: This is an abbreviated term for point spread.

Square: This is the term given to casual bettors who are not using extensive research or predictive models/formulas to make their wagers.

Steam: This is when a sports betting line moves unusually fast. A lot of times, this is a result of several big bets (maybe from a betting syndicate) coming in at once or a heavily-followed bettor publishing their pick and their followers jumping on it all at once.

Straight Up: This is a slang term for taking the moneyline bet where the point spread does not matter. If you say you are taking a team straight up, it means you took them on the moneyline, and all you need them to do is win the game. You do not care by how many points or in what fashion they win.

Teaser: This is a parlay-style bet similar to a pleaser except all the lines shift 6, 6.5, or 7 points in your favor. For example, if one of the teams on your teaser is normally +4, you now have them at +10. These are much easier to hit than parlays or pleasers, so expect not to be paid out as handsomely.

Ticket: This is another term for a sports betting wager. When you bet in a brick-and-mortar location, they print you out a “ticket,” which is a slip of paper with your betting information on it. This is what you turn in to collect your winnings. Online, tickets are digital.

Total: This is the number of points the sportsbook expects each team or both teams to score in a particular game. While it can be used for each team individually, it’s commonly used for both teams combined in a game. For example, if you say the total is 42 in the Patriots and Giants game, this means that they expect 42 points to be scored cumulatively. It does not matter which team scores the points. They can all be scored by one team or be scored equally by both teams.

Tout: This is a person or group that sells or gives away their sports betting picks.

Underdog: This is the team or player that is expected to lose a particular sporting contest.

Vig: This is a word for the percentage the sportsbook (or house) takes from each bet as their commission for facilitating each bet. It can also be used to refer to interest on a sports betting loan.

Wager: This is another word for a bet.

Welch: This is when someone refuses to pay on a bet that they knowingly lost. You can say that someone welched on a bet, or you can also say that someone is a welcher. This is something you never want to be and never want to have to deal with.

Wiseguy: This is another slang term for a sharp bettor who knows what they are doing.

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Legal sports betting is expanding quickly in the US, and bettors are eager to put a couple sawbucks on that first NFL game … or tonight’s Yankees games … or on the Red Wings to win the Stanley Cup … or whatever. But maybe this whole sports betting thing is new to you. TheLines has got you covered.

Here’s a look at some common sports betting terms someone new to the game might need to place those bets – and hopefully cash a few tickets.

Accumulator – This is similar to a parlay in that it involves a series of bets in one wager. Each of the bets must win in order for the wager to win. If one leg of an accumulator loses the wager loses.

Alternate Lines – All sportsbooks offer lines (point spreads) on sporting events. Some sportsbooks may offer different (or alternate) point spreads that pay different odds for the same game. These provide bettors more options to wager on certain games.

American Odds – American odds are displayed differently than the rest of the world. Moneyline odds are shown as + or – a number in the US. Outside of the US, the same odds might be presented with a decimal point or by a fraction. Example: Yankees +400 American odds would be 5.0 or 4/1. The bettor takes home the same amount of money if the wager wins.

Arbitrage – This betting strategy involves placing a wager on all possible outcomes of an event so that that there’s a guaranteed profit regardless of the winner. This is best done with moneyline or futures wagers in the US and will usually take place across multiple sportsbooks.

Asian Handicap – An alternative way to bet soccer where the better team is “handicapped” to be the favorite. This form of betting was started in Asia.

Backdoor Cover – This is a popular term for a team that covers a point spread late in a game. The team with the late cover may or may not affect the actual result of the game, just the wager.

Banker – A banker is a European wager similar to a round robin bet in the US. Different teams are placed in a “system bet” to make different “accumulator” (parlay) bets.

Bankroll – Total amount of money a bettor has to place wagers.

Beard – This is a person who places a wager for another person who wishes to remain unknown.

Betting Exchange – A betting platform where people wager against one another instead of betting against a sportsbook. The exchange operator takes a small percentage of winning wagers. This is often seen as the most efficient market for sports betting.

Betting Unit – A betting unit is the amount of a typical wager. Bettors may have different sized bankrolls and a unit is a way to share how much was bet without giving away a specific dollar amount. For example, a high roller might have a unit size of $10,000 per wager while a low roller has a unit size of $20 wager per wager.

Bonus – Sportsbooks offer a financial bonus to customers for a variety of reasons. A signup bonus is the most popular way to incentivize bettors to use a certain sportsbook.

Chalk – A term for the team that is the favorite in an event. This team or player is usually a big favorite. The chalk is the expected winner by a large margin.

Circle Game – A game is circled by a sportsbook because betting limits are lower than usual. This most often happens when there’s a questionable injury before a game. It can also happen if there’s potentially bad weather, a trade rumor, or the possibility of “load management” which might give a player a night off.

Opening Line – This is the first point spread available for a game.

Closing Line – This is simply where the point spread is when the game begins.

Closing Line Value – This term is used by bettors to measure the value of the line they wagered before the line that was the last available before a game begins.

Consensus – The general agreement about something. In sports betting consensus could be the most popular teams bet or line available for a game.

Contrarian – Betting against the trends of the mainstream popular opinions. Bettors usually place contrarian wagers when there is value on the opposite opinion.

Dead Heat – Another way to say that there is a tie in a finishing position. Sportsbooks have different rules on how to pay in the event of a tie or dead heat in an event.

Decimal Odds – This is a different way to present odds than Americans are used to. They’re sometimes called “European odds” since this is how odds are listed with European sportsbooks. The math is easier to figure out for most bettors than US moneyline odds. Decimal odds are derived from a simple calculation of the amount bet x odds.

Dime Line – This is a “10 cent” difference between the moneyline odds payout between the money laid on the favorite and the money paid by the underdog. For example, Vegas Golden Knights -125 vs. San Jose Sharks +115. The difference of 10 (dime line) is the traditional profit margin for sportsbooks.

Dog – Short for underdog. This is the team that is not expected to win.

Double Chance – This is a European sports betting term mostly used for soccer betting. A double chance wager allows the bettor two opportunities to win a bet. For example, a result in soccer can be a win, loss, or tie. A double chance bettor may combine two of the three results instead of just one. This gives the bettor twice the chance to win the wager.

Double Pop – A European way of saying that a bettor will bet twice the normal amount. In the US this is known more often as doubling up.

Early Cash Out – A way for bettors to settle a wager for a certain dollar amount before the event is over. This is a way to lock in a profit at a smaller value than the wager would ultimately pay.

Edge – The advantage a bettor has against the sportsbook (or vice versa).

Betting Terminology Over

Even Money – A wager that pays the same as was risked. An even-money sports bet is listed as +100 or -100 in a sportsbook. Unlike traditional -110 wager, there’s no vigorish paid to the sportsbook. A bettor risks $100 to win $100 instead of wagering $110 to win $100.

Exacta – Choosing horses to finish first and second in a race. This is sometimes, but rarely, offered for other competitive sports.

Exotic Wager – These are non-traditional sports bets. Exotic wagers aren’t point spread, moneyline, or futures bets on a certain event. This kind of wager is often listed as a prop bet in a sportsbook.

Expected Value – This is a calculation used by a bettor to determine whether a wager should win or lose over time. Positive expected value (EV) bets over time is a good way to become a winning sports bettor.

Exposure – The amount of money a sportsbook potentially could lose for a specific event. For example, sportsbooks might have a lot of exposure (money at risk) on one team winning a championship versus another.

First Half – A derivative bet that can be placed on a sport that has two halves. Football and basketball are the most popular sports to place a first half wager. In soccer, this might be called a “half time result.”

Fixed Odds – These are the odds that most sports bettors will experience. Once a wager is placed, the odds are set and don’t change. Horse bettors might experience a change in odds from parimutuel betting.

Flat Betting – Simply put, this is a betting system where all wagers are the same. A bettor doesn’t change the wager amount based on wins, losses, or any other outside opinion. The wager is usually a percentage of bankroll but could also be a fixed dollar amount.

Fractional Odds – Another kind of odds used mainly in Britain and Ireland. Odds are listed in fraction form (1/5) instead of as a moneyline (-500) that US sportsbooks use.

Grand Salami – A popular hockey bet which the wager is for the over/under on total number of goals scored by all teams in a day. Some sportsbooks may offer derivative versions for home, away, or periods of games during the day. Some sportsbooks may offer a similar bet for runs in Major League Baseball.

Handicapper – A person who analyzes sports events to predict the winning team or player.

Handle – The amount of money a sportsbook or sportsbooks take from wagers. This could be broken down by sport, region, casinos, and more.

Hedge – Hedging is a strategy used by sports bettors to either reduce the risk of or to guarantee a profit from a wager.

Home Field – This the field (court, rink, etc.) where one team plays its games.

Hook – Another way to say half of a point. For example, a team may be a 3.5 point underdog. That could be called “three and a hook.”

Joint Favorite – When there are two favorites for an event. This is mostly used in England.

Kelly Criterion – A popular bankroll management strategy for a bettor who seeks to limit losses while maximizing the amount won.

Layoff – When a bookmaker reduces the risk of losing wagers by placing a bet with a different sportsbook(s). This typically happens when there is lopsided wagering on one side of a game and the sportsbook or a bookie want to alleviate potential losses.

Listed Pitcher – This is a baseball bet that is active only if the pitcher listed as the starter throws the first pitch of a game. If the pitcher doesn’t matter a bettor can place a wager on “action.” The latter wager will happen regardless of who starts the game to the team bet on.

Live Betting – Placing a wager on a game or event while it’s taking place. This is also known as In Play wagering.

Lock – Another way of saying that a team or player will be an easy winner. (Note: This isn’t always the case, no matter what a sports prognosticator or tout says.)

Margin – This is a wager where a bettor selects a team to win or lose by a specific number of points regardless of the point spread. For example, the Oakland Raiders will defeat the Los Angeles Chargers by 10-14 points. The Raiders must win by 11, 12, or 13 points for a win. A victory by 10 or 14 points is a push.

Martingale System – A gambling system where bettors doubles the amount of a wager after losses. This system can be used for sports and other forms of gambling (i.e. blackjack).

Middle/Middling – Middling a sports bet is playing different sides of the same game. This gives a bettor multiple chances to win wagers on the same game.

Matched Bet – When a bettor uses free wagers from a sportsbook operator to increase potential profit. This is a popular technique employed in new legal US sports betting markets as promotional offers are available.

Nickel – Placing a $500 wager. A “Dime” is a $1,000 wager.

Novelty Bet – Placing a wager on a non-sports event with a sportsbook. For example, placing a wager on the Oscars in New Jersey. These kinds of wagers are more popular overseas.

Odds-on Favorite – When a team or person is heavily favored to win a game or event. They often have very low odds paying much less than the amount wagered.

Off the Board – When a sportsbook stops taking wagers on an event or participant they remove the game odds from the betting board. This often happens when a player is uncertain to participate because of an injury.

Public Betting Percentage – This is the percentage of wagers placed by the general betting public.

Puck Line – This is a point spread of sorts based on goals scored during a hockey game. The base puck line for a game is often plus or minus 1.5 since there are so few goals scored. Sportsbooks might offer an alternative puck line with more or fewer goals scored.

Puppy – Another way to say a team is an underdog in a game.

Push – When a point spread wager lands exactly on the line offered by the sportsbook. The bettor receives their money back if they push. For example, New England Patriots are favored by 14 points against the New York Jets. If they win by exactly 14 points, the wager pushes and the bettor gets their original wager back.

Player Props – A player prop bet is a wager on an individual player to do something during a game. For example, which player will score first in a football game?

Power Ranking – (AKA Power Rating) – Creating a ranking score for each team so that a bettor, handicapper, or sportsbook can create a point spread. Experienced handicappers use their point spreads to compare with a sportsbook in order to find the best bets available.

Reduced Juice – When a sportsbook lowers the vig on a game. For example, a sportsbook might offer -105 for a game instead of -110. This reduced juice will allow the potential for a bettor to take home more money if the wager wins.

Betting Terminology Football

Reverse Line Movement – When a line (or point spread) moves differently than the money wagered on the game or event.

ROI – ROI is an acronym for Return On Investment. The ROI of a sports wager can simply be calculated this way: (Gain from Investment – Cost of Investment) / Cost of Investment.

Round Robin – A wager that involves making multiple parlay bets at the same time.

Run Line – This is a point spread of sorts for baseball games based on the number of runs scored. The run line is typically plus or minus 1.5 since there are so few runs scored in baseball. Sportsbooks might offer an alternative run line with more or fewer runs scored.

Runner – A person who places wagers at a sportsbook for someone else. This person may also be known as a beard.

Sharp Money – Money wagered by sports bettors that a sportsbook operator respects. Sharp money often comes from large wagers placed by professional bettors. It should be noted that not all large wagers are considered Sharp.

Square – A casual and recreational sports bettor. This is someone betting on sports as a hobby. They’re not as respected by sportsbook operators as sharp or professional bettors.

Steam – This is when odds change because of the money wagered on a game or participant. Some bettors will “follow the money” or “chase steam” thinking the bettors know something they may not.

Straight Up – When a team wins or loses an event. The point spread isn’t involved with the winner or loser.

Take the Points – When a bettor places a wager on an underdog they are taking the points offered by the sportsbook.

Take the Price – Similar to taking the points. This is when a bettor takes the price on a game offered by the sportsbook. The bet is typically wagering a moneyline on the underdog.

Tissue Price – The initial odds offered by a sportsbook. This price is usually considered to be the fairest price on a wager.

TKO – Abbreviation for a Technical Knockout in boxing.

Totals – Totals are the numbers that bettors will choose the over or under on points (or runs, goals, etc,) scored.

Tout – A person who sells or gives away sports betting picks.

True Odds – True odds are the actual odds of an event happening. In sports betting this is the most accurate point spread or moneyline.

Wire-to-Wire – This is a wager that a team will lead at every quarter or for a specific number of quarters. Wire-to-wire bets are the most popular in basketball.