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Sports Betting Terminology

Sports Betting Terminology

EMAILED ON August 6, 2020
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Sports Betting Terminology

 

 

Accumulator:A single wager that covers multiple selections. All selections must win for the bet to be successful. Also known as a parlay.
Across the Board:Wagering on a horse to Win, Place or Show.
Action:A bet or wager of any kind.
Added Game:A game that is not part of the regular Las Vegas rotation. Often times this will be a rescheduled game or the second game of a doubleheader.
Against the Spread:Making a wager that is decided by the point spread, meaning that extra points are added to one team for the purposes of the bet.
Ante Post:A type of bet that is placed in advance of an event starting.
Arbitrage:A situation where the odds available mean it’s possible to make two (or more) bets and guarantee a profit.
Asian Handicap:A type of handicap betting that’s popular in the Far East and commonly used for soccer betting in the UK.
ATS:Stands for “against the spread” – see above.
Backdoor cover:When a team scores points at the end of a game to cover the spread unexpectedly.
Bad Beat:A loss that appeared to be a win before taking a turn for the worse.
Banker:A bet considered to be a sure thing. Also known as a lock.
Bankroll:The available funds you have to bet with.
Beard:Somebody who places bets for you but conceals their identity.
Betting Exchange:A form of betting where you bet against other bettors rather than a bookmaker.
Bettor:A person who has a bet. Also known as a punter.
Book:Short for “sportsbook,” a book is an establishment that accepts wagers on sporting events.
Bookie:Term for a bookmaker.
Bookmaker:An individual or organization who takes bets from members of the public.

 

BR:An abbreviation of bankroll.

 

Buck:A $100 bet. Also known as a dollar.

 

Bulls-eye:In betting terms, a bulls-eye is $50.

 

Buying Points:Paying an additional price to receive half a point (or more) in your favor when placing point spread bets. Also known as moving the line.

 

Canadian Line:A combination point spread and money-line in hockey.
Canadian:A permutation wager that involves a total of 26 bets on five selections. Also known as a Super Yankee.

 

Chalk Player:A bettor that bets primarily on the favorites. Also known as a chalk eater.
Chalk:A term for the favorite (i.e. the most likely to win) in a game or sporting event.

 

Circled Game:A game where the bookmaker limits the betting action for some reason.
Closing line:The final line before the game or event begins.
Combination Bet:Any bet that combines more than one selection.

 

Consensus pick:Derived from data accumulated from a variety of sports books. The pick, and its percentage, provides insight as to what side the public is taking in a game.
Contrarian Betting:Also known as betting against the public, contrarian betting finds value by betting on games with lopsided betting percentages.
Cover:The act of winning by enough to beat the point spread, in which case you have “covered the spread.”
Dead Heat:When two or more horses finish in a tie.
Decimal Odds:A format for displaying odds such as 2.0 (1:1), 3.0 (2:1) and so on.

 

Degenerate:A term used for someone who gambles excessively or recklessly. Often shortened to “degen”.

 

Dime:A $1,000 bet.

 

Dime Line:A betting line in which the “juice” or “vig” is 10 percent.
Dog:The underdog (i.e. the least likely to win) in a sporting event.

 

Dog Player:A bettor that bets primarily on the underdogs.

 

Dollar:A $100 bet. Also known as a buck.

 

Double:A single bet that contains two selections. Both selections must win for the bet to be successful.

 

Double Action:An “if bet” that is processed when the precedent bet wins, ties or cancels.
Double Bet:A wager for twice the size of one’s usual wager; also known as “double pop” or “doubling up.”
Draw:Also known as a push. If a game falls exactly on the spread, there is no winner and bettors will receive their money back.
Drifting:Odds that are lengthening (i.e. getting bigger) are said to be drifting.

 

Each Way:A bet that is split into two. Half the bet is on the selection to win, half the bet is on the selection to finish in the top few places.

 

Edge:To have an edge is to have some kind of advantage.

 

Even Money:A term used for odds that are exactly 1:1. Often shortened to evens.

 

Evens:See Even Money.

 

Exotic Wager:A non-standard bet.

 

Exposure:The maximum amount of money a sportsbook stands to lose on a game.

 

Favorite:The most likely winner of a sporting event.

 

Field:A collective term for all the participants in a sporting event.

 

Fifty Cents:

 

$50.
Figure:

 

The amount owed to or by a bookmaker.

 

Fin:A $50 bet.

 

Final Four:The remaining four teams in the NCAA basketball tournament.

 

First Half Bet:A bet placed only on the first half of the game.

 

Fixed Odds:Odds that are agreed at the time of placing a wager, and stay the same regardless of if the odds fluctuate in the future.

 

Fold:This term describes the number of selections in an accumulator or parlay.

 

Forecast:A wager on the 1st and 2nd placed participants in a sporting event, in the correct order.

 

Form:Recent past performance of a team or individual.

 

Fractional Odds:A format for displaying odds in the form of a fraction.

 

Futures:Wagers placed in advanced of a sporting event starting.

 

Get Down:A slang term for making a bet.

 

Goliath:A permutation wager that involves a total of 247 bets on eight selections (28 doubles, 56 trebles, 70 fourfolds, 56 fivefolds, 28 sixfolds, 8 sevenfolds and 1 eightfold).

 

Grand:$1,000.

 

Grand Salami:A wager on the total number of goals scored in all of the ice hockey matches on a single day.

 

Handicap:Another term for the point spread, where bookmakers attempt to level the playing field in an event for betting purposes, by awarding extra points/goals to the underdog.

 

Handicapper:A person who studies statistics, performances and past results for the purposes of betting.

 

Handle:The total amount of money bet on an event or group of events.

 

Hedge:To place a bet, or bets, on the opposite side of a previously made bet to either reduce risk or guarantee some profit.

 

Heinz`:A permutation wager that involves a total of 57 bets on six selections

 

High roller:A high-stakes gambler.
Hook:A half-point.
Hot Game:A game that is drawing a lot of action on one side from knowledgeable handicappers.

 

IBAZ:The Independent Betting Adjudication Service – an organization in the United Kingdom that was formed to mediate disputes between bookmakers and bettors.

 

In Play Betting:Also known as live betting, in play betting involves wagering on a sporting event while the event is still in action. For example, bettors can place a wager on the point spreads, alternative point spreads, moneylines, and totals while odds are constantly changing during the game.
In-game wagering:A service offered by books in which bettors can place multiple bets in real time, as the game is occurring.
Juice:Commission that the sportsbook earns on bets wagered.
Key Numbers:This represents the most common margins of defeat, and is used frequently in football where many games end with one team winning by a multiple of three or seven.
Lay:When a bookmaker (or individual) takes a bet they are said to be laying that bet.

 

Lay the Points:The act of wagering on the favorite in a point spread bet.

 

Lay the Price:The act of wagering on the favorite in a moneyline bet.

 

Layoff:When a bookmaker places a wager with another bookmaker to help reduce risk or balance action.

 

Limit:The highest amount of money a sportsbook will take on a single bet.
Line:The odds and/or point spread offered on a sporting event.

 

Line Maker:Someone who sets the original or opening line on a sporting event, also known as an “oddsmaker.”
Listed Pitchers:The pitchers in a baseball bet that must start for action. If one or both of the pitchers do not start, the bet is void or cancelled.
Lock:A bet considered to be a sure thing. Also known as a banker.

 

Longshot:An participant in a sporting event that’s considered unlikely to win, and has long odds. Also known as an outsider.

 

Lucky 15:A permutation wager that involves a total of 15 bets on four selections (4 singles, 6 doubles, 4 trebles and 1 fourfold).

 

Lucky 31:A permutation wager that involves a total of 31 bets on five selections (5 singles, 10 doubles, 10 trebles, 5 fourfolds and 1 fivefold).

 

Lucky 63:A permutation wager that involves a total of 63 bets on six selections (6 singes, 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and 1 sixfold).

 

Middle:This occurs when you bet on both sides of a game and have an opportunity to win both bets. For example if you bet on Team A +10.5 and Team B -7.5, you win both bets if Team B wins by 8-10 points.
Moneyline:A bet on a participant to win an event with no point spread.

 

Moneyline Odds:A format for displaying odds that shows how much money you must bet to win $100 (for example -110 means you must bet $110 to win $100) or how much you can win for betting $100 (for example +110 means you win $110 for every $100 bet).

 

Monkey:$500.

 

Moving the Line:Paying an additional price to receive half a point (or more) in your favor when placing point spread bets. Also known as buying points.

 

Mush:A bettor or gambler who is considered to be bad luck.
Nap:A single selection that tipsters highlight as their best bet of the day.

 

NickelA $500 bet.

 

No Action:A wager that is cancelled with money refunded back to the bettor.
Odds:Set by a bookmaker, odds determine how much a successful wager will return.

 

Odds Against:Odds that are longer than evens.

 

Odds On:Odds that are shorter than evens.

 

Off the Board: A game bettors cannot currently wager on due to certain circumstances.
Outlaw Line:The earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into.

 

Outsider:A participant in a sporting event that is considered unlikely to win, and has long odds. Also known as a longshot.

 

Over/Under Bet:A type of wager on whether the total number of points/goals scored will be more or less than the number set by the bookmaker. Also known as a totals bet.

 

Over-round:The bookmakers profit.

 

Parlay:A single wager that covers multiple selections. All selections must win for the bet to be successful. Also known as an accumulator.

 

Patent:A permutation wager that involves a total of seven bets on three selections (3 singles, 3 doubles and 1 treble).

 

Pick ‘em:A game in which there is no favorite or underdog and the side simply needs to win straight-up without a point spread.
Picks:Recommended bets. Also known as tips.

 

Pointspread:The handicap, or head start, which the favorite gives to the underdog for betting purposes.

 

Pony:$25.

 

Press:To wager a larger amount than usual.

 

Price:The odds.

 

Prop Bet:A shortening of proposition bet.

 

Proposition Bet:A wager on a specific or unique aspect of a sporting event. Often shortened to prop bet. Also known as a special.

 

Public Betting Percentage:Also referred to as public betting trends, we offer real betting percentages from seven contributing sportsbooks. These numbers represent real bets placed at real sportsbooks. These percentages are integral for our betting against the public philosophy.
Puckline:A point spread of -1.5 or +1.5 in a hockey game with additional moneyline values for the favorite and underdog, respectively.
Punter:A person who has a bet. Also known as a bettor.

 

Puppy:The underdog.

 

Push:When a game ends with no winner or loser from a betting perspective, landing right on the number based on the point spread or total.
Real Time Odds:Live lines that update immediately as sportsbooks adjust their lines.
Return:The money won on a successful wager.

 

Return on Investment (ROI):A performance measure used to evaluate the efficiency of an investment.
Reverse-Line Movement:Betting line movement that contradicts the public betting percentages. For example: if Team A is receiving 80% of the public bets as a 7-point favorite yet the line drops to -6.5, this is an example of reverse line movement. This indicates that sharp money is taking Team B.
Round Robin:A series of three or more teams in 2-team parlays.

 

Run down:All the lines for a specific date, sport, time, etc.

 

Run line:A point spread of -1.5 or +1.5 in a baseball game with additional moneyline values for the favorite and underdog, respectively.
Runner:An individual who places bets on behalf of someone else.

 

Score:$20
Scouts:Person(s) who waits for what he thinks is an unusually strong wager. Also known as a “sports player.”

 

Sharp:A “smart” bettor who seemingly knows more about wagering strategies.
Side:The team (favorite or underdog) a bettor wagers on to win and cover ATS.
Single:A wager on one selection. Also known as a straight bet.

 

Special:A wager on a specific or unique aspect of a sporting event. Also known as a proposition, or prop, bet.

 

Sportsbook:A company that takes wagers from the public.

 

Spread:An abbreviation of point spread.

 

Spread Betting:A form of betting where the winnings or losses are determined by the amount by which a wager is correct or incorrect. Not to be confused with betting the point spread.

 

Square:A “novice” bettor who is generally characterized as the “public.”
Stake:The amount of money placed on a wager.

 

Steam:A rapid change in the betting line due to heavy wagering
Store:A bookie or sports betting establishment.

 

Straight Bet:A wager on one selection. Also known as a single.

 

Sucker Bet:A bet that’s significantly in favor of the bookmaker.

 

Super Heinz:A permutation wager that involves a total of 120 bets on seven selections.

 

Super Yankee:A permutation wager that involves a total of 26 bets on five selections/

 

Taking the Points:Betting the underdog by receiving the points ATS.

 

Teaser:A point spread wager on two or more teams, where the bettor is allowed to adjust the spread in their favor in exchange for lower odds.

 

Thick ‘un:Slang term for a large wager.

 

Ton:$100.

 

Total:The combined points/goals/runs scored by two teams in a sporting event.
Totals Bet:A type of wager on whether the total number of points/goals scored will be more or less than the number set by the bookmaker. Also known as an over/under bet.

 

Tout:Someone who sells his/her expertise on sports wagering.

 

Treble:A single bet that contains three selections. All three selections must win for the bet to be successful.

 

Trixie:A permutation wager that involves a total of four bets on three selections (3 doubles and 1 treble).

 

UNDER:When the amount of combined points/goals/runs scored by two teams finishes below the total posted by a sportsbook.
Underdog:The participant in a sporting event that is expected to lose. Often shortened to dog.

 

Value:Getting the best odds on a wagering proposition; the highest possible edge.

 

Vig:An abbreviation of vigorish.

 

Vigorish:Commission charged by bookmakers. Often shortened to vig. Also known as juice.

 

Wager:Any type of bet.
Welch:To not pay off a losing bet.
Wiseguy:Similar to a “sharp” or “smart” bettor who is well-informed and knowledgeable.
Yankee:A permutation wager that involves a total of 11 bets on four selections (6 doubles, 4 trebles and 1 fourfold).

 

 

Sports Betting Terminology
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