Sports Betting Glossary
Stepping into the world of sports betting can sometimes feel like entering a foreign land with its own unique vocabulary. To help you navigate this language and make informed bets, we’ve put together a concise sports betting glossary that breaks down some of the most essential terms you’ll encounter.
Action: The term “action” in sports betting refers to placing a bet on a game or event. Whether it’s a single bet, a parlay, or any other type of wager, it’s all considered action.
Added Game: An added game is a contest that wasn’t originally on the betting board but has been included due to popular demand or significant public interest.
Against the Spread (ATS): When betting against the spread, you’re wagering on a team to perform better or worse than the point spread set by oddsmakers. A team that covers the spread either wins outright or loses by fewer points than the spread.
Arbitrage: Arbitrage, often known as “arbing,” involves placing bets on all possible outcomes of a game with different bookmakers to guarantee a profit, regardless of the game’s result.
Bankroll: Your bankroll is the total amount of money you’ve set aside for betting. It’s crucial to manage your bankroll wisely to ensure responsible and sustainable betting.
Bookmaker: Also known as a “bookie,” a bookmaker is a person or company that accepts and pays out bets on sporting events.
Buying Points: Buying points allows you to adjust the point spread or total in your favor by paying a higher price for your bet. This can be useful when you want to increase your chances of winning.
Chalk: “Chalk” refers to the favored team in a game. It’s the team that oddsmakers and the public believe is likely to win.
Contrarian Betting: Contrarian betting involves taking the opposite side of popular public opinion. Bettors who practice contrarian betting often wager against the majority to capitalize on perceived market inefficiencies.
Cover: When a team “covers the spread,” it means they’ve outperformed the point spread, resulting in a win for bettors who placed wagers on that team.
Dime: A “dime” is slang for $1,000 in betting. For instance, if you bet a dime on a game, you’re betting $1,000.
Dog (Underdog): The underdog is the team or player less likely to win in a game. Betting on the underdog can result in higher payouts if they manage to win.
Draw: A “draw” usually applies to sports like soccer or hockey and refers to the game ending in a tie. Draw bets can be made on the outcome of the game being a tie at the end of regulation time.
Edge: An edge is any advantage a bettor believes they have over the sportsbook. It could be based on data analysis, expert insights, or any other factor that influences their betting decisions.
Even: When the odds on a bet are -110, it’s considered even money. This means you’ll need to wager $110 to win $100 (plus your original bet if successful).
Favorite: The favorite is the team or player expected to win in a game. Favorites are assigned negative odds, reflecting the amount you need to bet to profit $100.
Field: “Field” is often used in proposition bets or futures bets where you’re betting on any outcome other than those listed individually.
Future: A future bet involves predicting the outcome of a season or tournament before it starts. Common examples include betting on the Super Bowl winner or the NBA champion.
Hedging: Hedging is a strategy where a bettor places additional bets on the opposite outcome of their original wager to minimize potential losses or secure guaranteed profits, regardless of the final outcome.
Hook: The term “hook” refers to the half-point added to point spreads or totals in order to avoid a push. For example, a point spread of -3.5 is often referred to as “3.5 points with the hook.”
Grand Salami: The “Grand Salami” is a betting option where you wager on the total combined score of all games played in a league or a specific sport on a given day.
Juice: Juice, also known as “vig” or “vigorate,” is the commission that sportsbooks charge for taking your bets. It’s built into the odds and ensures the sportsbook’s profitability.
Key Numbers: Key numbers are specific point margins in sports betting that are considered more likely outcomes due to the scoring nature of the game. For example, in football, key numbers include 3, 7, and 10.
Limit: The limit refers to the maximum amount of money a sportsbook is willing to accept on a particular bet. This limit can vary depending on the sportsbook and the type of bet.
Lines: “Lines” refer to the odds or point spreads set by sportsbooks for various games and events. They indicate how much you can win and what you need to bet.
Middle: Middle betting involves placing bets on both sides of a game where the point spread has moved, with the goal of winning both bets if the final margin lands in the middle of the two spreads.
Moneyline: The moneyline is a type of bet where you simply choose the team or player you believe will win the game. Odds are assigned to each side, indicating the potential payout for a successful bet.
Off the Board: If a game is taken “off the board,” it means that the sportsbook is no longer accepting bets on that particular game due to unusual circumstances, such as injury uncertainties or inclement weather.
Over/Under: The over/under, also known as the “total,” is a bet on whether the total combined points scored in a game will be higher or lower than a specified number set by the sportsbook.
Parlay: A parlay is a single bet that combines multiple individual bets into one. For the parlay to win, all individual bets within it must be successful.
Prop Bet: A proposition bet, or prop bet, is a wager on a specific event within a game, often unrelated to the final outcome. Examples include betting on the first team to score or the total number of points a player will score.
Public Betting Percentage: The public betting percentage represents the proportion of bets placed on a particular side of a game. It can indicate where the general public is placing their money.
Push: A push occurs when a bet ends in a tie according to the point spread or total. In this case, your wager is refunded, and you neither win nor lose.
Real-Time Odds: Real-time odds refer to the constantly updated betting lines and odds offered by sportsbooks as events unfold.
Reverse-Line Movement: Reverse-line movement occurs when the betting line moves in the opposite direction of the majority of bets placed on a particular game. This phenomenon can indicate sharp or professional bettors taking positions contrary to public sentiment.
Return on Investment (ROI): Return on Investment (ROI) is a measure of profitability in sports betting. It is calculated as the ratio of your net profit to the amount of money you have invested, expressed as a percentage.
Run Line: The run line is a type of bet primarily used in baseball and represents a point spread for the game. The favorite team must win by a certain number of runs, and the underdog team can lose by a specific number of runs while still covering the run line.
Runner: A runner is someone who places bets for another person, often due to legal restrictions or convenience. The person placing the bets is referred to as the “runner.”
Teaser: A teaser is a type of parlay bet where you can adjust the point spread or total for multiple games in your favor. However, all selected teams must cover the adjusted spread for the bet to win.
Units: A unit is a standardized measurement used by bettors to represent the size of their bets. It allows bettors to manage their bankroll more effectively and consistently.
Wager: A wager is another term for a bet. It refers to the amount of money you stake on a particular outcome in a sports event.