Terminology

The complete sports betting glossary of all the
terms and expressions that you need to know

Action

The term used to describe an amount bet on a sporting event

Arbitrage

Arbitrage Betting is when you find riskless profit

Against The Spread (ATS)

Refers to a bet that is placed on the point spread, rather than the moneyline which refers to a bet that is placed on the winner

Bad Beat

A loss which is highly improbable

Beard

Refers to a bettor who is attempting to stay anonymous by concealing their identity

Book

Refers to a "sportsbook" which is the company that services bets

Chalk

Refers to picking the "favourite" to win

Dime

A bet valued at $1000

Dog

Refers to the "underdog" which is the player/team expected to lose

Edge

The perception that a bettor has a mathematical/information advantage when placing a bet

Even Money

When a bet is priced to pay out an amount equal to the bet amount i.e. bet $100 to win $100

Favorite

The player/team that is expected to win

Futures

A bet that is placed well in advance of an event or game that is going to take place

Handicapping

Refers to the process of researching and analyzing the expected outcome for a sports event - individuals who perform this work are referred to as handicappers

Hedging

Refers to placing a bet on the opposite side of a wager that has been previously placed in order to ensure one bet wins

Hook

Refers to a half point (0.5 points)

Juice

This is the commission charged by sportsbooks when a bet is placed - also known as the "vig"

Laying The Points

Refers to when a bet is placed on the favorite to win the point spread

Limit

The maximum dollar amount that a sportsbook will allow on a specific bet

Lines

The different types of bets available for a sports event - most commonly refers to the moneyline, spread, or total

Lock

Refers to a player/team that is expected to win with ease

Moneyline

Refers to a bet that is placed on the straight-up winner of a sports event

Off The Board

When a sports event is temporarily unavailable to be bet on - usually due to player injury, weather, and other key information

Over/Under

The number set by oddsmakers that forecasts the total combined points scored by both teams

Parlay

A type of bet that consists of multiple individuals bets that have been combined into one ticket (usually to produce a higher payout)

Pick'em

When there is no favorite or underdog for a sports event i.e. both sides have an equal probability of winning

Point Spread

Refers to the margin of victory - the point spread is created by oddsmakers to determine much a favorite is expected to win by

Puckline

A common betting line for hockey - usually set at 1.5 goals

Prop Bet

A type of bet that is placed on various activities, stats, or happenings throughout a sports event, rather than the normal betting lines for a sports event

Push

When a game ends with the margin of victory equal to the points spread or the total points scored is equal to the over/under amount - the bet is a "push" and the bet is refunded

Sharp

A professional sports bettor who is very knowledgeable

Spread

Refers to the "points spread"

Square

A novice sports bettor - the opposite of a "sharp"

Steam

A rapid change in a betting line (typically due to action placed by a sharp)

Taking The Points

Refers to when a bet is placed on the underdog to the win the point spread

Total

The total combined points scored for a game

Vigorish

A synonym for "juice" - the commission charged by sportsbooks when a bet is placed

Wise Guy

A synonym for "sharp" - a professional sports bettor who is very knowledgeable