Understanding sports betting terminology is crucial for anyone looking to get into the world of sports wagering. Whether you’re a beginner or a seasoned bettor, having a comprehensive glossary of sports betting terms at your fingertips can greatly enhance your betting experience. Here’s an evergreen guide to the most common sports betting terms, presented in an easy-to-understand format.
Before diving into the specifics, let’s summarize what you’ll find in this sports betting glossary. You’ll learn about terms like “Action,” which refers to placing a bet, and “ATS,” which stands for Against the Spread. You’ll understand what a “Backdoor cover” is and why a “Bad beat” can be so frustrating. From “Chalk” favorites to “Exotic” wagers, this glossary covers the A-Z of sports betting lingo.
Action: The term action refers to having a bet on a game or event. When you have action on a game, it means you have a stake in the outcome through a wager.
Arbitrage: Arbitrage, sometimes called an arb for short, is a strategy where a bettor places bets on all possible outcomes of an event with different bookmakers, ensuring a profit regardless of the result due to the variation in odds.
ATS (Against the Spread): ATS stands for Against the Spread, which is a team’s record in relation to the point spread. Betting ATS means you’re wagering on the point spread and not just the outcome of the game.
Backdoor Cover: A backdoor cover occurs when a late score in a game allows the underdog to cover the spread, affecting the betting result and often changing the outcome for bettors.
Bad Beat: A bad beat is when a bet that seemed almost certain to win is lost due to an unexpected turn of events, often at the very end of a game.
Beard: A beard is someone who places a bet on behalf of another person, concealing the true identity of the bettor.
Book: Short for sportsbook or bookmaker, a book is an establishment or person that accepts bets on various events.
Bookie: A bookie is a person who accepts bets, often illegally, and typically charges a commission known as vig.
Buying Points: Buying points means paying an additional fee to adjust the point spread in favor of the bettor, potentially making it easier to win the bet.
Chalk: Chalk refers to the favorite in a game. Bettors who often wager on favorites are known as chalk bettors.
Circle Game: A circle game is one with lowered betting limits, usually due to uncertainties like player injuries or adverse weather conditions.
Closing Line: The closing line is the final betting line set before the start of an event.
Consensus Pick: A consensus pick is the most popular betting choice among the public at any given time.
Cover: To cover the spread means that a favorite wins by more points than the spread, or an underdog wins outright or loses by fewer points than the spread.
Dime: In betting parlance, a dime is slang for a $1,000 wager.
Dog: Short for underdog, a dog is a team or individual expected to lose a game or event.
Dollar: A dollar is betting slang for a $100 wager.
Edge: An edge is the advantage a bettor believes they have over the sportsbook.
Even Money: Even money is a bet where the potential winnings are the same as the amount wagered, essentially a 50/50 wager.
Exotic: An exotic bet is any wager that is not a straight bet or parlay, often referred to as props or proposition bets.
Favorite: The favorite is the team or individual expected to win an event, as indicated by the odds.
Fixed: A fixed event is one where the outcome has been dishonestly predetermined.
Futures Bet: A futures bet is a long-term wager on the outcome of a season-long event, such as a championship.
Halftime Bet: A halftime bet is a wager placed during halftime, adjusting the stakes based on the first-half performance.
Handicapper: A handicapper is someone who studies and predicts the outcomes of sporting events.
Handle: The handle is the total amount of money wagered on an event.
Hedging: Hedging is the strategy of placing a bet on the opposite side of an original wager to minimize potential losses or guarantee a profit.
High Roller: A high roller is a gambler who consistently places large bets.
Hook: A hook is a half-point added to betting spreads, such as 7.5 instead of 7.
In-Game Wagering: In-game wagering is the act of betting on a game while it is in progress, with odds that change in real-time.
Juice: Juice, also known as vig or vigorish, is the commission that bookmakers take on bets.
Layoff: A layoff bet is one that a bookmaker places with another bookmaker to balance action and reduce risk.
Limit: The limit is the maximum bet amount that a bookmaker will accept on a single wager.
Lock: A lock is a bet that is perceived as a guaranteed win, although in reality, there is no such thing in sports betting.
Middle: To middle a bet means to bet on both sides of a game, taking advantage of line movements, with the potential to win both bets.
Moneyline: A moneyline bet is a wager on which team or individual will win a game outright, without a point spread.
Mush: A mush is a bettor who is considered to be bad luck.
Nickel: A nickel in betting terms is slang for a $500 wager.
Oddsmaker: An oddsmaker is the person who sets the betting odds, which can be synonymous with a bookmaker.
Off the Board: An event goes off the board when a bookmaker stops accepting bets on it, often due to uncertainties like key player injuries.
Over/Under: The over/under is a bet on whether the total points, goals, or runs in a game will be over or under a specified amount.
Parlay: A parlay is a single bet that links together multiple individual wagers; all must win for the parlay to pay out.
Pick’em: A pick’em is a game with no clear favorite or underdog, where the point spread is essentially zero.
Point Spread: The point spread is the number of points by which the favored team is expected to beat the underdog.
Proposition (Prop) Bet: A prop bet is a wager on a specific occurrence or non-occurrence within a game, separate from the final outcome.
Push: A push is when a game or event ends right on the betting number, resulting in all bets being refunded.
Return on Investment (ROI): ROI is the expected amount of money to be returned from a bet, based on the odds and the amount wagered.
Runner: A runner is a person who places bets for others, also known as a “beard.”
Sharp: A sharp is a professional and sophisticated sports bettor known for making smart bets.
Spread: The spread, short for point spread, is the handicap given by the oddsmakers to level the playing field between two unevenly matched teams.
Square: A square is a casual gambler who often makes bets based on gut feelings rather than using advanced strategies.
Steam: Steam is a sudden, rapid movement in the betting line, usually caused by heavy betting on one side or by influential bettors.
Straight Up: Straight up refers to the outright winner of a game, regardless of the point spread.
Teaser: A teaser is a type of parlay bet where the bettor can adjust the point spread in their favor, but this reduces the potential payout.
Total: The total is the combined score of both teams in a game, and bettors can wager on whether the actual total will be over or under the sportsbook’s prediction.
Tout Service: A tout service is a business that sells or gives away sports betting picks.
Underdog: The underdog is the team or individual that is expected to lose an event.
Vig/Vigorish: Vig or vigorish is the commission or fee taken by a bookmaker on bets.
Wager: A wager is another term for a bet.
Welch: To welch is to fail to pay off a losing bet, which is highly frowned upon in the gambling community.
Wiseguy: A wiseguy is another term for a sharp or professional bettor.