Sports Betting Terminologies

A

Accumulator

An accumulator refers to a series of wagers in one bet. Each wager in the bet must win for the player to win the bet. The wager loses where one of the bets forming the accumulator loses.

Action

An action in sports betting terms means a wager or a bet.

Added Game

Added Game refers to a game that isn't part of Las Vegas’ usual rotation. It is usually a rescheduled game or a doubleheader’s second fixture.

Against the Spread

Against the spread means the game result including the point spread.

American Odds

American Odds are presented in a different pattern from the rest of the world. While odds are shown as + or - a figure in the US, it can be presented as a fraction or a decimal point outside the US for the same odds.

Ante-Post

Ante-Post refers to wagers made before greyhound and horse race markets open. It is usually available the day before the race.

Arber

Arber is a short form of an arbitrator. It refers to a player who backs multiple outcomes of a game or an event on multiple betting platforms. It is a way bettors can levy on odds variation to guarantee some profit.

Arbitrage

Arbitrage is a betting strategy that involves placing a bet on all probable event outcomes so a profit is guaranteed despite the winner. It can be done across different sportsbooks for more odds flexibility.

Asian Handicap

Asian handicap is a soccer betting alternative where the ‘handicapped’ favorite is the better team. It is a betting strategy developed in Asia.

B

Back

Back refers to making a bet that a particular outcome will come true.

Bad Beat

A bad beat refers to a wager that seems like the player will win but eventually doesn’t.

Backdoor Cover

Backdoor cover refers to when a team covers a point spread towards the end of the game. While the late cover team may affect the game result or not, it effectively affects the wager.

Banker

A banker refers to a European bet where a ‘system bet’ is set up with different teams to make separate accumulator bets. It is similar to the US bet called the round robin bet.

Bankroll

Bankroll refers to the whole amount of money a player has for placing bets.

Bar Price

It refers to the lowest odds for runners that haven't been price quoted during early wagering shows in a race.

Beard

The beard refers to a bettor who places a proxy wager. The wager is placed on behalf of an individual who prefers not to reveal their identity.

Best Odds Guaranteed

It refers to promotions given on greyhound or horse racing by the bookmaker.

Bet Constructor

A bet constructor refers to a service that allows for opponent bets of five selections in two groups.

Bet Slip

Bet slips are confirmation of placed bets that show the selections made and bet amount with the odds. It can be a printed slip or an online document given to a player after successfully placing a bet.

Betting Exchange

Betting exchange refers to the platform where players place wagers against each other rather than the sportsbook. The operator of the exchange gets a percentage of the winning wagers. It is regarded as the most efficient sports betting market.

Betting Markets

Betting markets refer to all offered options that a bettor can make selections from to place a bet on an event or a game. Such markets include over/ under markets, score casts, handicaps, and many more.

Betting Unit

A betting unit refers to a wager amount. It means the actual amount of money used to make a wager. Betting units can help share how much was wagered without exposing the specific amount.

Bettor

A bettor refers to a player making wagers.

Board Price

Board price refers to the bookmaker’s odds/price shown before a race starts on the bookmaker’s boards.

Bonus

Bonuses are incentives given by sportsbooks to their customers. It is done in different ways like sign-up bonuses, deposit bonuses, and player membership incentives. Most sportsbooks have signup bonuses for new players.

Book

Book in sports betting terms refers to a place where players can place wagers on sports event outcomes.

Bookie

A bookie is a short form of a bookmaker.

Bookmaker

A bookmaker refers to someone who is licensed to take wagers and make wagering lines.

BR

BR is an acronym for bankroll.

BTTS

BTTS is a sports betting acronym for both teams to score. It refers to a bet that both teams in a game will score at least one goal.

Buying Points

Buying Points describes when a player pays an extra fee to get a game at a more favorable price.

C

Canadian Line

Canadian line is a betting line adopted in ice hockey games. It adopts Moneyline betting and point spread.

Cashback

Cashback refers to a popular promotion type among bookmakers that allow players to get back their stake when they lose.

Cash-out

Cashing Out refers to when a player pulls out of a bet before the event or game ends. The player settles the bet while the game is still on.

Chalk

Chalk is a term used to mean the favorite team in a sporting event. It usually highlights the big favorite team or player who is expected to win by a large margin.

Circle Game

A circled game is a game that has an unusually low betting limit. Sportsbooks circle games usually when a dubious injury occurs preceding a game. It can also be caused by trade rumors, the possibility of a player getting a night off, and potential bad weather.

Clean Sheet

Clean Sheet refers to a bet on a football team not conceding any goal in a game.

Closing Line

Closing line refers to where the point spread is at the start of the game.

Closing line Value

Closing line value refers to when a player measures the line value of their wager before the last available line preceding a game.

Co-Favorite

Co-Favorite refers to when more than one team or opponent has identical odds of winning.

Combination Bet

Combination Bet refers to a bet having more than one selection.

Combination Forecast

Combination Forecast refers to a greyhound and horse racing bet where six selections are used to guess the top two finishers in any order.

Combination Tricast

Combination tricast refers to a greyhound and horse racing bet where three selections are made to finish in any order.

Consensus

Consensus refers to when there’s a unanimous agreement on something. It could be the most influential team available line or wager for a game in sports betting.

Contrarian Betting

Contrarian betting refers to when a player places a wager based on opposing views to popular mainstream ideas. The value of the opposing view usually attracts players to place such wagers.

Correct Score

Correct Score refers to a type of bet where the final score must be accurately predicted to win. It can be adjusted to each half of a game.

Cover

Cover in sports betting terms refers to the wagering outcome on a point spread wager. A favorite covers by winning by a number more than the spread. An underdog covers by losing by a number lower than the spread or an outright win.

Cover the Spread

It refers to when a wager made against the point spread is won.

D

Dead Heat

Dead heat refers to a finishing position that has a tie. There are different payout rules when there’s a dead heat or a tie.

Decimal Odds

Decimal odds refers to a non-American way of presenting odds. It’s usually called European odds as it uses European sportsbooks odds listing style. Decimal odds are simply a multiplication of the bet amount and the odds.

Degenerate

An individual that gambles recklessly.

Dime

A dime refers to a $1000 wager.

Dime Line

The dime line refers to a difference between the money wagered on the favorite, paid by the underdog, and the odds payout for the Moneyline.

Dog

A dog in sports betting terms is a short form of an underdog. It refers to the team least expected to win.

Dog Player

It refers to a player who tends to wager more on the underdogs.

Dollar

A dollar in sports betting terms means a $100 wager.

Doubles

It refers to one wager having two selections.

Double Action

It refers to a bet having more than one selection for events at separate times of the day.

Double Bet

It refers to when two selections are made in one wager to increase the chances of a win.

Double Chance

Double chance refers to a soccer betting term from European sports betting. It is a wager that opens two winning opportunities to the player.

Double Pop

Double pop is a European sport betting term that means a player will place double the normal bet amount. It is usually referred to as doubling up in the US.

Double Result

It refers to when a bet is made on two results, the halftime result and the result of the game at full time.

Draw

A draw in sports betting refers to when a game lands directly on the spread and there’s no winner. Players get their wagered amount back. It is also called a push.

Drifting

It refers to odds that keep getting higher.

Dutching

It is a betting strategy where an event is backed by multiple outcome bets aiming to win at least one.

E

Each Way

It is a two-way wager with the first part being a wager to win while the second part is to finish in the top few spots.

Early Cash Out

Early cash-out refers to when players settle a bet for a particular amount before the game is over. It results in getting a smaller payout than the ultimate amount.

Early Price

It refers to the fixed odds bookmakers offer before an event or game starts. It refers to the odds presented in advance for horse racing.

Edge

Edge in sports betting terms refers to the advantage a player has against a sportsbook and vice versa.

European Handicap

European handicap is a betting market where an advantage is deducted from the favorite or given to an underdog. It can be in form of goals or points.

Evens

Evens refer to odds of 2.0. A winning evens bet will give equal profit to the stake.

Even Money

Even money is a wager that gives the same payout as the amount risked. It is usually listed as -100 or +100 in sportsbooks and has no payment of vigorish to the sportsbook, unlike the traditional -110 bet.

Exacta

Exacta refers to a choice between first or second-place finish for horses in a race. It is rarely but variedly used for different competitive sports.

Exotic Wager

An exotic wager refers to non-traditional sports wagers. They aren't point spread, futures bets, or Moneyline on a game. It is usually listed as a prop wager in sportsbooks.

Expected Value

Expected value refers to a player’s calculation to determine if a bet will lose or win. A good way to be a winning player is to have positive expected value wagers over time.

Exposure

Exposure in sports betting terms refers to the amount of money risked on an event by a sportsbook.

F

Favorite

A favorite refers to the team that’s favored to win in an event or a game.

Field

Players are usually permitted to wager the field in proposition bets. It means a combination of all players or teams not particularly listed.

Fin

It refers to a 50 wager.

First Goalscorer

It refers to a bet on which player scores the first goal in a game.

First Half

It is a type of bet that can be wagered on a sport with two halves. Such sports include football and basketball which are the most popular for this bet. It can be called a half-time result in soccer.

Fixed Odds

Fixed odds refer to the odds that will be presented to most players. The odds are set once a bet is placed and the odds don't change.

Flag Bet

A flag bet is a bet type with four selections and 23 wagers.

Flat Betting

Flat betting is a betting system with all bets being the same. The wager amount remains fixed despite outside opinion, wins, or losses.

Fold

It refers to an accumulator's size. For example, 4-fold means 4 selections in the bet.

Forecast

It refers to one bet on the position of two participants in a game or an event.

Form

Form refers to a team or an individual’s recent results.

Fractional Odds

Fractional odds refers to a type of odds used primarily in Ireland and Britain which list odds in fraction form. It is different from the Moneyline form used by US sportsbooks.

Free Bet

A free bet refers to a bonus paid to players by bookmakers as a form of reward or incentive to patronize.

Future Bets

It refers to a wager on events to take place in the further future like a bet on the championship or division winner in advance.

G

Gambler

A gambler refers to someone who places a wager on an event with an unknown outcome.

GamCare

GamCare is an organization in the UK that supports, advises, and helps individuals with gambling issues.

Get Down

It refers to making a bet.

Goal Line

It refers to a bet on how many goals a game will end with.

Goliath

It refers to a bet type with eight selections and 247 wagers.

Grand Salami

Grand salami is a hockey bet where a bet is placed for the over/under on all goals scored in a day by all teams. Subsequent versions can be included in sportsbooks like periods, home, or away.

H

Halftime bet

It refers to a wager placed on the outcome of an event or game’s second half.

Halftime result

It refers to when a bet is settled halfway into a game at the halftime interval.

Handicapper

Handicapper refers to the sports event analyzer who aims to predict the winning player or team.

Handle

Handle refers to the commission amount taken from wagers by sportsbooks. It can be based on Hedgeregion, casinos, sports, and other options.

Hedge

Hedge refers to a betting strategy used to either minimize risk or guarantee profit from a bet.

Heinz

Heinz refers to a bet with six selections and 57 wagers across.

High roller

It refers to a player that bets big amounts consistently.

Hold

Hold refers to the percentage for every dollar that is a bet that sportsbooks retain. It means where a sportsbook receives $1 million in handle and gets $60,000 revenue, the hold is 6%.

Home Field

Home field refers to the field, rink, or court where a team plays its games.

Hook

A hook is another way to mean half of a point. For example, a 4.5-point underdog can be called a four-and-a-half hook.

I

IBAS

IBAS is an acronym for Independent Betting Adjudication Service.

If Bet

If bet refers to a wager that has at least two different wagers connected by an if clause which decides the way the wager goes.

Implied Probability

It refers to a likelihood of an outcome depending on the odds pri=ovided by a bookmaker for that outcome.

In-game Wagers

In-game wagers refer to bets placed on a game after the game has begun.

In-play Betting

It refers to when wagers are placed on a game or event that has begun.

J

Jackpot

A jackpot refers to the best prize offered by a game in a casino.

Joint Favorite

Joint favorite refers to when an event has two favorites. It is commonly used in England.

Jolly

A jolly refers to when a wager is placed on a favorite.

Juice

Juice in sports betting terms refers to the commission a sportsbook wins on each wager placed.

K

Kelly Criterion

Kelly criterion is a bankroll management system for players who want to limit their losses while maximizing their wins.

Key Numbers

It refers to the most common margins of loss. It is used commonly in football where a team can win by a multiple of two or four.

Last Team to Score

It refers to a wager option on which team scores the last goal in a game.

L

Lay

It refers to an act where a wager is accepted.

Laying the Points

It refers to an act of making a point spread bet on the favorite.

Laying the Price

It refers to an act of making a Moneyline bet on the favorite.

Layoff

Layoff refers to when the risk of losing a wager is reduced by the bookmaker who makes a bet with another sportsbook.

Lengthen

It refers to when a betting option is made less likely to occur. It is said that the odds are lengthened.

Line

Line in sports betting terms means price or odds.

Limit

Limit refers to the maximum wager allowed on one bet.

Listed Pitcher

A listed pitcher is a sports betting term relating to baseball. It is a baseball wager that becomes active when the first pitch is thrown by the pitched indicated as the starter. Where the pitcher is inconsequential, the player can bet on ‘action’. The latter bet succeeds regardless of the player who starts the game.

Live Betting

Live betting refers to making bets on an event or a game while it is on. It is also called In-Play wagering.

Lock

Lock in sports betting is used to refer to a player or team that will easily win.

Long Shot

Long shot in sports betting terms refers to the large underdog.

Lump On

It refers to the act of making a bet.

Lucky 15

It refers to a wager type with four selections and 15 wagers across.

Lucky 31

It refers to a bet type with five selections and 31 wagers across.

Lucky 63

It refers to a bet type with six selections and 63 wagers across.

M

Margin

Margin refers to a bet where the player picks a team to lose or win by a particular number of points despite the point spread.

Martingale System

The Martingale system is a gambling system where players double the washer amount after losses. It is a system that’s suitable for sports and other gambling games.

Middle/Middling

Middling in sports betting refers to when a player plays different sides of a particular game. It gives the player higher winning chances in the same game.

Matched Bet

Matched bet refers to when a player increases potential winning using free bets from a sportsbook. It is a popular technique in the US new legal sports betting market with the availability of promotional offers.

Money Back Bets

It refers to promotion offers where players that lose can get a refund of their stake.

Moneyline bet

A Moneyline bet refers to a wager placed if a team will lose outrightly or win without a point spread.

Monkey

Monkey in sports betting terms is a £500 bet.

Moving the Line

It refers to an act of making a payment to get half of a point or more for a spread bet. The points are given in your favor.

Multiple

It is a term used to refer to any bet having over one selection.

N

Nap

It refers to the best bet a tipster makes in a day.

Nickel

Nickel in sports betting means making a $500 bet while a dime is a $1000 bet.

No Action

It refers to when bets are not taken for a game and wagers are refunded.

Non-Runner

It is a horse racing term. It refers to the act of withdrawing a horse from a race.

Non-Runner No Bet

It refers to a promotion offer where the stake is refunded if it was wagered on a horse that’s withdrawn.

Novelty Bet

Novelty bet refers to making a non-sports event bet in a sportsbook.

Nuts

It refers to the best possible hand that an opponent cannot beat.

O

Odds

Odds decide the potential win and payout of a bet.

Odds Against

It refers to odds higher than even money (1/1 or 2.00) which means the win can be more than the wager.

Odds Compilers

It refers to the person who sets the lines/odds and adjusts them as needed to make a balanced book.

Odds On

It refers to when even money is more than the odds.

Odds-on-Favorite

Odds on favorite refers to when a team or player is highly favored to win a match or game. It usually attracts lower odds and pays less.

Oddsmaker

The oddsmaker is also called the linemaker. It refers to the person who sets a game’s opening line.

Off the Board

Off the Board refers to when a sportsbook removes a game’s odds from the betting platform or when wagers are stopped for a game by sportsbooks. It usually happens when an injury causes uncertainty to a player’s availability.

Opening Line

It refers to the initial line available for a game or an event.

Outsider

It refers to a selection of wagers with a low winning chance.

Outright Bet

It refers to a bet on the ultimate winner of a competition. For example, a bet on the winner of the Premier League.

Over

It refers to when two teams’ combined score exceeds what was set by the sportsbook.

Overround

It refers to the profits built into the books by bookmakers.

P

Parlay

A parlay refers to a wager that combines different games for more payout. The risk is increased as games are added while the payout also increases. Each game must tie or win for a parlay bet to win.

Patent

It refers to a bet type with three selections and 7 wagers across.

Payout

Payout refers to the money a player gets from the bookmaker for winning a bet.

Permutation Betting

It refers to a betting strategy that covers different selections in multiple combinations.

Pleaser

It refers to a point spread bet having different selections with each selection’s spread moving against the player.

Pick’em

It refers to a game without an underdog or a favorite.

Point Spread

Point spread refers to the victory margin oddsmakers set to attract wager action on the underdog and the favorite. A favorite covers the spread by winning by a higher number than the point spread. An underdog covers by losing by a lower number than the point spread or by an outrightly win.

Press

It refers to when the amount wagered is higher than the usual stake.

Price

It is a sports betting term used to mean the odds.

Pricing the Market

It refers to an act where the lines or odds for a betting market are set.

Proposition Bet

It refers to a bet on anything not directly connected to the game’s outcome. It can be a bet on the first player or team to get a free kick in the game.

Public Betting Percentage

The public betting percentage refers to the percentage of bets made by the general betting populace.

Puck Line

Puck line refers to a type of points spread determined by the goals scored in a hockey game. Games usually have a + or -1.5 base puck line since few goals are scored. Sportsbooks can offer different puck lines with fewer or more goals scored.

Puppy

Puppy in sports betting terms is used to mean the underdog team in a game.

Push

Push refers to when a point spread bet lands on the line presented by a sportsbook. If they push, the player gets their money back.

Punter

It is a sports betting term used to mean a bettor or a player.

Player Props

Player props refer to a bet on a player to take an action during the game. Such a bet can be which player scores first in a soccer game.

Power Ranking

Power ranking is also called power rating. It refers to making a ranking score for each team which helps players, sportsbooks, or a handicapper to create a point spread. Handicappers with experience can compare their point spreads with that of a sportsbook to discover the best available bets.

R

Real-Time Odds

It refers to live lines that are updated as soon as sportsbooks adjust the lines.

Reduced Juice

Reduced juice refers to where the game’s vig is lowered by a sportsbook.

Return

It refers to the money gotten from a winning bet.

Reverse Line Movement

Reverse line movement refers to where a point spread or line moves differently than wagered money on an event or a game.

ROI

ROI means the return on investment. A sports bet ROI can be calculated by dividing the difference between the gain and cost of investment by the cost of investment. It means (investment gain - Investment cost)/ Investment cost.

Round Robin

Round robin is a type of wager where multiple parlay bets are placed at the same time.

Run

It refers to a betting line specific to baseball.

Run Line

The run line is a baseball game point spread that depends on how many runs are scored. The run lines are usually + or -1.5 due to the few runs scored. Sportsbooks can offer alternate run lines with fewer or more runs scored.

Runner

A runner refers to someone who makes a sports bet on another’s behalf. The runner can also be called a beard.

S

Sharp Money

Sharp money refers to money wagered by players who have a sportsbook operator’s respect. It usually comes from professional players wagering large amounts. However, not all large bets fall in this category. A sharp player is also called a Wiseguy.

Shortening Odds

It refers to when the odds keep getting lower.

Single

It refers to a bet with a single selection.

Smart Money

It refers to wagers placed by experienced players or players with rare or special information.

Square

A square in sports betting terms refers to a recreational or casual player. A player who bets as a hobby and is less respected than sharp or professional players.

Steam

Steam in sports betting terms means when there’s a change in the odds due to the money bet on a participant or a game. Some players chase steam or follow the money under the assumption that other bettors have extra information.

Straight Up

It refers to where a team loses a game or event.

T

Take the Points

Take the points refers to where a player makes a bet on the underdog. The player is taking the points presented by a sportsbook.

Teaser

Teasers are bets that favor the player but give a lower payout.

Tissue Price

Tissue price refers to the original odds presented by a sportsbook. It is usually considered to have the fairest prices on a bet.

TKO

TKO is an acronym for Technical Knockout in boxing.

Totals

Totals in sports betting refer to the numbers that players will pick the under or over on scored points, runs, or goals.

Total Bet

Total bet refers to a wager on the cumulative points each team scores in a game. It includes extra innings and overtime.

Tout

A tout in sports betting terms refers to an individual who gives away or sells sports betting selections.

True Odds

True odds refer to the original odds of an event occurring. It is the most accurate Moneyline or points spread in sports betting.

U

Under

Under refers to when two teams’ cumulative score is lower than what was set by a sportsbook.

Underdog

The underdog is the team least favored to win an event or a game.

Units

Units refer to a measurement of wagers, especially the losses and wins.

W

Wager

A wager is a bet placed with a sportsbook.

Wire-to-Wire

Wire to wire refers to a bet that a team will lead for a particular number of quarters or at all quarters. It is the most popular bet in basketball.